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.
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.