TD Waterhouse Discount Brokerage today announced the upcoming launch of its new fully featured Active Trader platform. Accompanying the launch are new commission rates for active investors.
The new, customizable platform will provide clients with speedier access to more information, and includes:
- streaming real-time quotes and news via multiple watch lists;
- fast point-and-click order entry and direct-to-market access for Canadian and U.S. equities and options;
- customizable streaming technical charts to monitor trends and move with the markets;
- real-time account and margin updates and live profit and loss summaries; and
- streaming real-time option chains and access to sophisticated auto routing technology for fast and reliable trade execution.
“We’re very excited about TD Waterhouse Active Trader, which is designed to meet the unique needs of active investors,” said John See, President, TD Waterhouse Discount Brokerage, in a release. “This new platform is part of TD Waterhouse’s overall strategy to build our active investor business in Canada – a strategy that includes our recent acquisition of Ameritrade Canada.”
TD Waterhouse says all active investors who meet minimum activity requirements will benefit from the new commission schedule.
Invesgtors who trade equities or options at least 30 times per quarter will enjoy a new rate of $14.99 flat on U.S. equities. Canadian equity orders will be charged $14.99 up to 1,500 shares and 1¢ per share thereafter. Option trades for these clients will be just $14.99 plus $1.25 per contract.
For investors who trade at least 150 times per quarter, a rate $9.99 flat will apply for U.S. equities. As well, $9.99 will be charged for Canadian orders up to 1,000 shares and 1¢ per share thereafter. Option trades for these clients will be just $9.99 plus $1.25 per contract.
The new rate structure comes into effect March 20.
“With this change, our commission schedule for active investors will be one of the most competitive in the marketplace,” said See.