Q:

How do you open an account with TD Waterhouse?

A:

Quick Answer

Individuals can open accounts with TD Waterhouse online, at a TD Direct Investing location, or at a TD Canada Trust Branch, says TD Waterhouse. To open an account the individual must be a Canadian resident and also of the age of majority in the province or territory in which he lives.

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Full Answer

To apply for any account, the individual needs to provide his Social insurance number and have access to a TD Canada Trust Branch or TD Direct Investing location to finish the application, according to TD Waterhouse. There are a few different accounts individuals can apply for and open online. The TD Waterhouse cash account is a great choice for those who intend to pay cash in full for each purchase. A margin account provides the ability to react quickly when market opportunities arise by borrowing against the securities that are already in the account.

A self-directed RSP account allows account holders to enjoy the freedom to manage their own portfolios with a wide selection of investments, explains TD Waterhouse. A basic self-directed RSP is a good choice for those are new to trading and want to hold mutual funds with guaranteed investment certificates. A tax-free savings account is a tax efficient way to save for long- or short-term goals.

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