HSBC InvestDirect
By Attilio Montanari, Vice President, HSBC InvestDirect
HSBC InvestDirect, the self-directed brokerage arm of HSBC Securities (Canada) Inc., is an online brokerage suited for globally minded investors, which provides access to 30 domestic and international markets. With HSBC InvestDirect, you can access an integrated suite of research tools and trading capabilities right at your fingertips.
2020 has been an interesting year so far, to say the least. COVID-19 has brought with it significant uncertainty to the world, and it has also brought unprecedented volumes to HSBC InvestDirect and the brokerage industry as a whole.
HSBC InvestDirect has been working under a split-site protocol since March, with staff at the main office, at our BCP site and working from home. We have been dealing with extremely high volumes in phone calls, emails, trading and new accounts due to the market volatility surrounding the impact of the pandemic. To put the volumes into perspective, March 2020 was HSBC InvestDirect’s highest trading month on record, followed by April 2020, which was the highest new account month in our history.
In April 2020, HSBC InvestDirect introduced a special pricing promotion of $0 for online North American equity and ETF trades for Active Traders (150+ trades per rolling three-month period). The Active Trader rate of $0 is valid until December 31, 2020. Effective January 1, 2021, the Active Trader rate of $4.88 for online North American equity and ETF trades will apply. This program has been an unbelievable success and exceeded our expectations. (Terms and conditions apply.)
In addition to the Active Trader special pricing promotion, we also launched a Free Trading promotion for new accounts that ran from July until the end of October 2020. The offer entitled all new accounts (new or existing clients) to 60 calendar days of free North American online equity and ETF trading (up to a maximum of 60 trades) through the new account.
So far in 2020, we have been focused on system enhancements and resiliency to minimize any potential system downtime and to improve the overall customer experience. With the high level of market volatility that we saw during the beginning of the pandemic, we optimized several popular pages on the trading site by including quick order entry and execution from all pages, in addition to improving the performance of our market data database and adding extra capacity to effectively handle increases in site usage and volumes. We also launched the electronic delivery of tax forms, introduced several client forms with e-signature capabilities and made improvements in our onboarding process to make things easier for our customers to get things done.
The high level of market volatility and unprecedented volumes experienced were motivating factors for the system enhancements performed in 2020, along with our commitment to providing a stable and highly effective trading platform. Although several of our enhancements were behind the scenes, client feedback has been very positive with regards to our enhancements and modifications.
HSBC InvestDirect has a great deal to be proud of this year. We are extremely proud of the way our team rallied around each other and our customers to support them when dealing with the numerous challenges that they encountered as a result of COVID-19.
HSBC InvestDirect has a lot in store for 2021. We will continue to listen to feedback and focus on what is important to our customers. We are excited to continue to provide our customers with innovative products and services, along with a secure trading platform and innovative tools to assist them in managing their investments with ease and confidence
Our customers can look forward to a redesigned website with improved navigation and education, on top of the introduction of a mobile app within the next 12 to 18 months, which will include an integrated view within the HSBC Bank Canada mobile banking app.
We feel that DIY investors are constantly looking for good value, a high level of customer service, high-quality tools and resources and a reliable platform with quick access to the markets. Offering more educational pieces has been an important trend in the industry, as information and knowledge are key. HSBC InvestDirect has supported customer education by partnering with the TMX this year in virtual options training, and we are looking forward to providing our customers with access to more events such as these along with access to additional Investor Insights from our HSBC affiliates.
HSBC InvestDirect is pleased to welcome many beginner investors each year. Beginner investors can expect a redesigned website to help them find what they are looking for with ease. They also have access to our interactive demo and demo videos that highlight functionalities of the trading site for different investment products. When you become a new customer of HSBC InvestDirect, the first thing you should expect is to receive a warm welcome call from one or our highly trained Investment Representatives with an offer to walk you through our trading platform and to answer any questions that you may have.
Active Trader investors are very important to us, as shown from our Active Trader special pricing offer of $0 commissions for online North American equity and ETF trades, which started in April and runs until December 31, 2020. (Terms and conditions apply.) HSBC InvestDirect Active Trader pricing is amongst the best in Canada. We are also looking to provide new tools for Active Traders, such as a streaming data portal.
User experience is extremely important to us. Service is key, and that all begins with our customers’ user experience. We take great pride in our service, and we are always looking at ways to take it to the next level and to ensure that we always provide a fast and reliable platform. We continue to optimize our customer journeys and accessibility to information, to allow our customers to manage their investments effectively.
HSBC is a leading international bank, and HSBC InvestDirect uses that international reach to set us apart from the pack. Our customers can expect:
- Dedicated client support in four languages (English, French, Cantonese and Mandarin)
- Global access to 30 domestic and international markets, with settlement in 10 currencies
- Best-in-class commission structure, currently offering $4.88 for Active Traders ($0 until December 31, 2020) and $6.88 for all clients on North American equity and ETF online trades (Terms and conditions apply.)
- Fast, reliable and secure website
- Integrated brokerage/banking combination