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ONLINE BROKERAGE REVIEW

HSBC InvestDirect Review 2022

Updated October 13, 2021

Quick Info

  • Standard Equity Commission
    $6.88
  • Best Commission Price
    $4.88
  • Minimum to Open Account
    Not Required
  • Maintenance/Inactivity Fees
    $25/Quarter
  • Commission-free ETF Trading
    No
  • Young Investor Offer
    No

HIGHLIGHTS

1.0/5 (2)

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 the Hong Kong Stock Exchange in addition to the North American stock exchanges. It is a subsidiary of HSBC Securities Canada Inc. and is the online brokerage of HSBC Bank Canada.

HSBC InvestDirect is an interesting option for individuals looking to do overseas stock trading in addition to trading on North American markets. Clients have access to 30 domestic and international markets and the ability to settle transactions in 10 different currencies. 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, account balance, and trading volume requirements for best commission pricing have been lowered to be more competitive with the other Canadian online brokers. There are some inactivity fees that are levied if your account balance falls below $10,000 on non-registered accounts or if your trading activity is less than once per quarter. That said, from a pricing perspective, if you are an active trader who wants the flexibility of international trading, you may want to consider HSBC. If you are a less-active trader, you need to know what your investing or trading requirements on a monthly basis will be in order to calculate if HSBC InvestDirect will be the most cost-effective option for you.

HSBC InvestDirect Full Review

What Account Types does HSBC InvestDirect offer?

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    Registered Accounts

    Non-Registered Accounts

Account Fees & Requirements for HSBC InvestDirect

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    Registered Accounts

    Non-Registered Accounts

Trading Commissions & Fees provided by HSBC InvestDirect

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HSBC InvestDirect Rankings & Reviews for 2022

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  • Sorry, no data is available.

How can I contact HSBC InvestDirect customer support?

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What do people think of HSBC InvestDirect?

BayesianPrior
CanadianInvestor
6/17/2022
HSBC InvestDirect. $6.88 per trade Not the flashiest platform, but I get access to worldwide exchanges (London, Frankfurt, Honk Kong, etc.) Also Premier service is nice - everything in branch is free, and when I moved to the UK I was given the identical UK package with a £5,000 limit on a mastercard, despite having no credit history in the UK.
Famous-Ad-8330
Superstonk
6/15/2022
Canadian Ape here with HSBC trying to DRS my shares. Yesterday I went back and forth between HSBC InvestDirect and CS to initiate a DRS transfer from my TFSA to CS. CS says that my broker needs to initiate the transfer but the HSBC agent did not know what to do but he said he would look into it. He called me back today saying that I can DRS my shares and receive a certificate from snail mail which would take 3 weeks. Then he told me I would need to send the certificate (or its info anyways) to CS. I declined the offer thinking I shouldn’t need to do more than just ask for an outbound DRS transfer. I then read the Canada DRS post (link in the megathread post above) “DRS with BMO: the ultimate guide”. The process sounds the same but in the BMO guide when you ask to DRS the shares, the snail mail you get in 3 weeks has info you need for CS meaning BMO did the outbound DRS transfer successfully? With HSBC it seems like I will get a certificate that my shares are DRSd but nothing to do with ComputerShare. Please share a wrinkle with me, a smooth brain ape 🦧 this confuses me the most
mewfree
PersonalFinanceCanada
6/13/2022
IBKR has a very easy on/off toggle. At HSBC InvestDirect, I had to call them to activate it for each security I wanted DRIP on, very annoying.
BayesianPrior
CanadianInvestor
5/31/2022
HSBC InvestDirect.
deadeyedjacks
UKPersonalFinance
5/26/2022
What form of S&S ISA accounts do you have with HSBC? *InvestDirect, InvestDirect Plus or Global Investment Centre ?* You may find they are tied to your HSBC current account, so be careful you don't orphan them and have no way of withdrawing funds if yo close the HSBC current account. Also what type of HSB current account ? *Advance, Premier or other ?*