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ONLINE BROKERAGE REVIEW

HSBC InvestDirect Review 2021

Updated July 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

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.

Brokerage Breakdown

ACCOUNT TYPES OFFERED

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    Registered Accounts

    Non-Registered Accounts

ACCOUNT FEES & REQUIREMENTS

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    Registered Accounts

    Non-Registered Accounts

TRADING COMMISSIONS & FEES

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ONLINE BROKERAGE RANKINGS

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  • Sorry, no data is available.

CONTACT

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Investor Feedback

deadeyedjacks
UKPersonalFinance
9/12/2021
The primary reason for investing with HSBC GIC or ID might well be to qualify for HSBC Premier (£50K invested) or HSBC Jade (£500K rising to £1M) soon. Those two products give you a range of Worldwide benefits. As /u/blah-blah-blah12 said, HSBC InvestDirect and GIC aren't well integrated with HSBC UK retail banking. The HSBC banking sort code checker doesn't even recognise the InvestDirect Sort Code ! Also the InvestDirect user interface is really dated and clunky to use, comparable to Halifax / Lloyds group's iWeb UI !
blah-blah-blah12
UKPersonalFinance
9/6/2021
If you have £50k, I’d shift it all into ETF’s, then move them to HSBC investdirect for a year or so. You’ll qualify for their premier current account, which gives you free worldwide travel insurance and a £500 interest free overdraft. After a year, move to IWeb or wherever you prefer, they don’t take away the insurance. Extra special bonus, most people seem to hate HSBC, so if you’re in this group, rinse them!
Dragynfyre
PersonalFinanceCanada
8/31/2021
Not true unless a partial transfer is specified. Every brokerage I’ve transferred out of (TD DI, HSBC InvestDirect, and Questrade) close the account automatically if a full transfer was requested
kyonkun_denwa
CanadianInvestor
8/26/2021
I’m currently have a WealthSimple account and an HSBC legacy account from before I was married. I don’t think it would be worth moving from WS, but HSBC InvestDirect is by far the worst brokerages I’ve ever dealt with. Its organizational structure is needlessly bureaucratic, they’re slow to respond to anything, and their representatives are poorly trained recalcitrants. I don’t really touch that account at all, it just holds ETFs and a couple legacy mutual funds (Mawer and Trimark). The main reason I keep it with HSBC is to access their Premier credit card. Would it still be worthwhile to take it over to National Bank or should I just let it sit? How is National’s service?
deadeyedjacks
UKPersonalFinance
8/1/2021
LOL, yep wouldn't use their GIC fund platform, very limiting. HSBC InvestDirect is on a par with Lloyds / Halifax iWeb for clunkiness and looking out of date, but costs to buy and hold ETFs in an ISA are reasonable.