Choose a Direct Trading Account
A Cash Account is a great choice if you intend to pay cash in full for each purchase. When you put your excess cash in your account you will have easy access to your funds so you can plan for your next investment strategy.
You are required:
- To have all payments for trade purchases in your TD Direct Investing account on or before the settlement date. Settlement periods vary depending on the securities traded
- To have funds for the first trade purchase in the cash account before the order is placed
With a Margin Account, you can borrow against securities already in your account, or borrow part of the purchase price of the securities you are buying. That way, you can react quickly to market opportunities without having to worry about finding the cash to cover the transaction.
Open a Margin Account if you wish to borrow money to buy securities or borrow against the securities you already own. If you qualify and the Margin Account is approved, you will be able to borrow on margin at a competitive interest rate.
A Margin Account is required for the following features. You can apply to be approved for them when applying for a Margin Account.
- Option Trading
- Short Selling
For more information about margin accounts, and the risks associated with investing on margin, please read the following:
Please take a look at these important forms and documents below.