The bank’s research found that nearly three quarters of respondents believed they needed experience before trading and 30% never did because they felt they needed to invest large amounts of money. Is.
Its new app has no minimum balance or monthly fee and is an evolution of the TD GoalAssist platform that the firm launched in October 2020.
new and young investors
“During the pandemic, we saw a significant increase in demand for online investing, with more people trying to make DIY investments from home, and for the first time ever,” said Tony Irulo, VP, TD Direct Investing. “As a result, trades and new account openings touched record highs. This increase in new accounts and trading volumes was largely driven by new and young investors, which is why it was important for us to launch an app that would be easy to use. be easy, with low trading fees and available support to ensure that investments are accessible to this emerging, fast-growing investment segment.”
According to the TD survey, many people still invest for long-term goals like retirement (51%), while capitalizing on trending stocks (19%) and fear of missing out (5%) also play a role.
