TD Waterhouse unveils online global trading for ten countries

[biaggio]

http://opinion.financialpost.com/2010/09/13/td-waterhouse-unveils-online-global-trading-for-ten-countries/

 

for those of us canadians using TD Waterhouse

 

"TD Waterhouse Discount Brokerage introduced Global Trading today, with direct access to stock exchanges in ten countries and choice of seven major currencies. The exchanges include London, Sydney, Brussels, Paris, Frankfurt, Hong Kong, Milan, Amsterdam, Singapore and Madrid. A press release bills it as Canada’s first major bank-backed online global trading service.

 

President John See says the new services gives investors the speed and control needed to maximize returns in global markets and diversity their investments. It means Canadian online investors can trade in any of seven currencies they choose: the British Pound, Euro, Australian Dollar, Singapore Dollar, Hong Kong Dollar, US Dollar and Canadian Dollar.

 

 

 

Read more: http://opinion.financialpost.com/2010/09/13/td-waterhouse-unveils-online-global-trading-for-ten-countries/#ixzz0zReEqOmd"

[mranski]

Interesting that they are able to do this, but US$ RRSPs and TFSAs still a long way off.

 

 

[Baoxiaodao]

I was wondering what are the spreads they charge on FX. Normally anything offered by the banks are very expensive.

 

Use IB!

[RRJ]

This is good news.  I had a long talk with the friendly folks at Schwab's Global Trading desk yesterday, and they are working on greater access to international exchanges as well, and hope to have it all worked out by spring 2011.  He couldn't be more definitive yet, because terms are being worked out.  They'll all have to do this of course to stay in the game as Americans keep investing more internationally. 

[mranski]

td waterhouse charges 1 to 2 %.

But they will let you wash to money market in us$ to avoid the hit

Dividends are forced conversion

RBC discount brokerage now offers us$ rsp and tfsa.

 

[beerbaron]

So how do you guys manage to get foreign exchanges rates under 1% charge? I'm with Questrade and I mainly do USD/CAD conversions but the 1% is a huge cost.

 

BeerBaron