Thinkorswim No Longer Accepting New Canadian Customers (2021)

Apr 29

EDIT: 2022-02-02:

TD Direct Investing has re-enabled the ability for new customers to sign up for the Thinkorswim platform with the requirement being a minimum account balance of $25,000 USD. They have updated their website to include Thinkorswim as an additional trading platform option.

https://www.td.com/ca/en/investing/direct-investing/trading/

Disclaimer: This is not financial or investment advice, I am not a registered financial or investment advisor, nor am I a representative of The Toronto-Dominion Bank and it’s entities. This is purely my own personal opinion.

TD Direct Investing is the online brokerage division of TD Waterhouse Canada Inc., which is a financial services corporation, whose parent company is the Toronto-Dominion Bank. This issue only impacts Canadians and is not impacting Americans with TD Ameritrade Holding Corporation, whose parent company is The Charles Schwab Corporation.

INTRODUCTION

Shortly after publishing my video that discusses some of the free paper-trading platforms available to Canadians here in Canada, many viewers were discovering that the signup page for a demo paper trading account with thinkorswim via TD Direct Investing was removed.

Upon further investigation, it was discovered that TD Direct Investing has removed all references to the thinkorswim platforms and users on Reddit were confirming that TD Direct Investing has indeed removed the ability for new accounts & customers to sign up for a thinkorswim account.

NOTE: The direct link to TD Direct Investing thinkorswim page is still valid and you are able to register a demo account with delayed data and login to thinkorswim with that account.

Click or tap to enlarge images.

No information about thinkorswim available on the website if you’re visiting from Google.

https://www.reddit.com/r/thinkorswim/comments/m9pzfi/td_canada_cancels_new_tos_accounts/?utm_source=share&utm_medium=web2x&context=3

https://www.reddit.com/r/thinkorswim/comments/mgkea3/tos_canada_does_not_allow_any_more_accounts_to_be/?utm_source=share&utm_medium=web2x&context=3

https://www.reddit.com/r/thinkorswim/comments/lu28l1/using_thinkorswim_with_td_canada_direct_investing/?utm_source=share&utm_medium=web2x&context=3

https://www.reddit.com/r/thinkorswim/comments/m9b75d/tos_in_canada/groblad?utm_source=share&utm_medium=web2x&context=3

This is unfortunate because many TD-investing users enjoy thinkorswim’s powerful charting platform and built in tools compared to the other platforms available to TD Direct Investing customers like Web Broker and Advanced Dashboard. Not to mention, thinkorswim also offers a mobile app for both IOS and Android with some of the powerful tools offered on the desktop.

TD Direct Investing has not put out any official statement regarding why it is no longer accepting new Canadian customers & accounts for the thinkorswim platform. However, users on Reddit have speculated that it may have to do with business decisions made after the acquisition of TD Ameritrade Holding Corporation by The Charles Schwab Corporation.

LOOKING FOR AN ALTERNATIVE TO TD THINKORSWIM?

Check out which brokerages in Canada offer the best alternative to TD Thinkorswim in terms of trading products, platforms and accounts types. Learn more