Canadian Online Brokerage Review – HSBC InvestDirect


Canadian Discount Brokerage - HSBC InvestDirect

Mailing Address
19 Allstate Parkway, 2nd Floor
Markham, ON L3R 5A4

Website: http://www.hsbc.ca
Email: investdirect@hsbc.ca
Phone: 1-800-760-1180
Customer Service Hours:
Monday to Thursday: open 24 hours
Friday: 12 am – 8 pm EST
Sunday: 6 pm – 12:00 am EST

HSBC InvestDirect Review

Updated on: Feb. 8, 2019
InvestDirect by HSBC (short for Hongkong and Shanghai Banking Corporation) is one of a very small number of discount brokerages that lets you trade on North American stock exchanges as well as on the Hong Kong stock exchange.
HSBC InvestDirect is an interesting option for individuals looking to do overseas stock trading as well as trade on North American markets.  One thing that has to be factored in for pricing is the foreign exchange rates as InvestDirect doesn’t offer US dollar registered accounts (TFSAs, RRSPs and RESPs).  The pricing and account balance and trading volume requirements for best commission pricing have been lowered to be more competitive with the other Canadian online discount brokers.  There are some inactivity fees that are levied if either your account balance falls below $10,000 on non-registered accounts and/or if your trading activity is less than once per quarter. That said, from pricing perspective, if you are an active trader that wants the flexibility of international trading, you may want to consider HSBC.  If you are not as active a trader, you may want to understand what your investing/trading requirements will be on a monthly basis to see if HSBC InvestDirect is the most cost-effective option.HSBC InvestDirect is a subsidiary of HSBC Securities Canada Inc. and is the online brokerage of HSBC Bank Canada.  HSBC InvestDirect is the only online trading platform in Canada to offer access to 30 domestic and international markets and to settle transactions in 10 different currencies.  Clients can access a full range of investments – equities & ETFs, options, mutual funds, fixed income, GICs and new issues (IPOs).  Some of the many benefits of HSBC InvestDirect include unparalleled global reach, best in class pricing, award winning client service, an exclusive banking and brokerage combination and a platform with exciting tools and features.
2018_Broker_Profile_Imagery_HSBC

Quick Info

Standard Equity Commission $6.88
Best Commission Price $4.88
Minimum to Open Account Not Required
Maintenance Fees $25/quarter
Commission Free ETFs No

» Get Full Pricing Details

Pricing & Fees

In late 2017, HSBC InvestDirect introduced flat rate pricing of $6.88 per trade for online North American equity trades with commissions for options of $6.88 + $1.25 per contract.  Clients qualify for ‘Active Trader’ status by completing 150+ trades per quarter and enjoy $4.88 pricing with commissions for options set at $4.88 + $1.25 per contract.

Accounts

You can hold direct-trading, registered, foreign currency, personal, corporate and more. Registered account options include: TFSAs, RRSPs, RRIFs, RESPs, LIRAs / LRSPs and LIFs / LRIFs. For registered accounts you cannot use margin or short stocks. Options trading in registered accounts is limited to buying and selling options and there is no writing of options allowed in these accounts.  In the non-registered investment account category, clients advanced options trades can be made and stocks may also be shorted.

Platform/Data

Reviews & Ratings

Review What Review Measures Score Date of Ranking
Dalbar Canada Review Client Service Top Rating
Above Average
January 2015
January 2014
Globe and Mail Review Overall Impression Letter Grade “C-”
Letter Grade “C”
Letter Grade “D”
12th out of 12
Letter Grade “D”
12th out of 12
Letter Grade “F”
12th out of 12
Letter Grade “D”
February 2019
February 2018
December 2016
December 2016
December 2015
December 2015
November 2014
November 2014
November 2013
JD Power Review Investor Satisfaction 5th out of 10
7th out of 10
10th out of 10
September 2017
September 2016
September 2015
MoneySense Top Pick – Fees & Commissions July 2018

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Home Community Canadian Online Brokerage Review- HSBC InvestDirect

This topic contains 1 reply, has 2 voices, and was last updated by  Edward Chow 3 years ago.

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  • #18606 Reply

    Edward Chow

    I have 3000 shares of Cathay Pacific Airways and would like to sell them at the lowest commission.

    Please advise whether I have to open an account in order to sell the shares.

    If I have to open an account please send me a PDF application.

    Thank you.

    Edward Chow 250-xxx-xxxx

    • This reply was modified 1 year, 11 months ago by  Ken Y.
    #10678 Reply

    Sparx_Admin
    Keymaster

    HSBC InvestDirect has lowered their prices and requirements for qualification for best commission rates.  They recently replaced their Prestige progra
    [See the full post at: https://www.sparxtrading.com/canadian-online-brokerage-review-hsbc-investdirect/]

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