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ONLINE BROKERAGE REVIEW

HSBC InvestDirect Review 2023

Updated December 13, 2022

Quick Info

  • Standard Equity Commission
    $6.88
  • Best Commission Price
    $4.88
  • Minimum to Open Account
    Not Required
  • Maintenance/Inactivity Fees
    $25/Quarter
  • Commission-free ETF Trading
    No
  • Young Investor Offer
    No

HIGHLIGHTS

1.7/5 (2)

InvestDirect by HSBC (short for Hongkong and Shanghai Banking Corporation) is one of a very small number of discount brokerages that lets you trade on the Hong Kong Stock Exchange in addition to the North American stock exchanges. It is a subsidiary of HSBC Securities Canada Inc. and is the online brokerage of HSBC Bank Canada.

HSBC InvestDirect is an interesting option for individuals looking to do overseas stock trading in addition to trading on North American markets. Clients have access to 30 domestic and international markets and the ability to settle transactions in 10 different currencies. One thing that has to be factored in for pricing is the foreign exchange rates, as InvestDirect doesn’t offer US dollar registered accounts (TFSAs, RRSPs, and RESPs).

The pricing, account balance, and trading volume requirements for best commission pricing have been lowered to be more competitive with the other Canadian online brokers. There are some inactivity fees that are levied if your account balance falls below $10,000 on non-registered accounts or if your trading activity is less than once per quarter. That said, from a pricing perspective, if you are an active trader who wants the flexibility of international trading, you may want to consider HSBC. If you are a less-active trader, you need to know what your investing or trading requirements on a monthly basis will be in order to calculate if HSBC InvestDirect will be the most cost-effective option for you.

HSBC InvestDirect Full Review

What Account Types does HSBC InvestDirect offer?

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    Registered Accounts

    Non-Registered Accounts

Account Fees & Requirements for HSBC InvestDirect

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    Registered Accounts

    Non-Registered Accounts

Trading Commissions & Fees provided by HSBC InvestDirect

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HSBC InvestDirect Rankings & Reviews for 2023

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  • Sorry, no data is available.

How can I contact HSBC InvestDirect customer support?

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HSBC InvestDirect Downtime Report

HSBC InvestDirect down? Submit an incident report using our exclusive online brokerage outage tracker and view reported incidents from other users.

Click here to view current HSBC InvestDirect Downtime Report

What do people think of HSBC InvestDirect?

PrettyDislikeMachine
CanadianInvestor
1/13/2023
Does that include self-directed RRSP account (HSBC InvestDirect)? Just asking you as I don't want to deal with their trash customer service lmao.
deadeyedjacks
UKPersonalFinance
12/23/2022
Yes, HSBC InvestDirect accept in-specie ISA transfers of stocks and shares, including ETFs both inbound and outbound. Yes, InvestDirect Plus adds overseas markets, cash accounts, frequent trader rate and option for lombard lending. Fees, can come from InvestDirect Plus cash account outside of ISA or for Investdirect from your HSBC current accounts. Is this so you qualify for HSBC Premier ?
BayesianPrior
CanadianInvestor
12/15/2022
Another data point: with HSBC InvestDirect. As of this morning I have 50 BAM shares with ACB of $42.15 And 200 BAM.A shares with ACB of $56.02. They havent updated the ticker to BN, but the ACB looks right (my old BAM.A ACB was $66.55)
yakadayaka
CanadianInvestor
10/5/2022
For all its faults (and there appear to be many with a gripe with HSBC), the bank provides many unparalleled services: 1) They compete aggressively in the residential mortgage market with very good rates on offer. I had my mortgage with them, and also have a HELOC at prime flat which I use for the Smith Manoeuvre. They recently even had a sub-prime HELOC rate available. 2) You don't have to keep your money in a ****** account with low interest to avoid monthly fees, as they consider the "Total Relationship Balance" for that purpose. I have $10 in my checking account and $5k in HSBC InvestDirect TFSA invested in BEP when I started as an Advance client. Other investments are elsewhere, like IBKR for low fees. 3) You can (possibly) open accounts in other countries, and transfer money to your global HSBC accounts for free (via Global View) if you're a Premier client. This has been nothing less than brilliant. If yo qualify for PRemier in one country (which I have, through a deposit where getting PRemier status requires a much smaller balance than in Canada), you can claim premier status elsewhere. I would be sad to see HSBC shut down in Canada.
diyexageh
ExpatFinance
9/21/2022
<I’m sure there’s a better conversion rate somewhere else, but the convenience for me is worth it. I do not know at the moment, but do your FX in jersey instead of UAE when you transfer via Global Transfers. HSBC UAE has different FX Rates for SWIFT and Global transfers. A couple years ago I used to get much better rates in JE vs AE. Now, about the investments, there's a caveat if you are using HSBC Direct Invest International. Do keep in mind that Investing through HSBC Expat does not take place in Jersey as it is offered by HSBC Bank UK PLC. This is the UK operation not the Jersey one. There is a huge implication here when it comes to taxation, depending on what you trade you might need to pay or file returns. UK Estate tax applies also. &#x200B; <**Is HSBC InvestDirect International an offshore service?** < <*No. HSBC InvestDirect International is a UK based service – so it’s subject to UK law and UK tax regulations.*