Independent Review: Internaxx (formerly TD Direct Investing International)

An independent review by our team of experts.

Review summary

Independent Review: Internaxx (formerly TD Direct Investing International)

TD Direct Investing International has separated from the Toronto-Dominion Bank. 

It has been acquired by majority shareholder J.C. Flowers & Co.  Flowers is a leading US private investment firm, with approximately $15 billion of capital invested, and investments in 49 banks and financial companies across 16 countries. 

TD Direct Investing International has subsequently been rebranded as Internaxx.

Internaxx offers an expatriate investment platform based in Luxembourg, an ‘AAA’ rated financial centre renowned for investor protection. 

Internaxx has full bank status, and is regulated by the CSSF under the oversight of the European Central Bank.  The firm has 16 years’ experience servicing international investors and expatriates in over 150 countries.

Overview

Internaxx’s trading platform facilitates access to 18 global stock exchanges, supported by Morningstar research.  It delivers client accounts in 9 currencies, investor tools, research and content tailored for the expat investor, as well as margin loans, derivatives, options, and futures.  However, trading currencies, CFDs, options or futures are carried out via Saxo Bank.

The platform provides access to 900 funds and thousands of ETFs.

Exchange rates on cash are fairly competitive, and there is a low minimum. However, it does not allow for you to hold existing wrappers or bonds on the platform, and can therefore trigger unpleasant tax charges.

Although a wide range of funds are offered free of the initial charge, many contain high total expense ratios, which can eat into your returns.  Costs of dealing stocks and ETFs (5,000 available) are good.

Useful tools such as the ‘Portfolio X-Ray tool’ and Morningstar equity research are included in the platform.

Internaxx can take up to 55% of annual fund management fees in retrocessions, which has been criticised for lack of transparency.  Costs of stocks and ETF trades are between €14.95 to €50 (US/CA vs. less traded markets) and up to 0.09% commission.  Trading over the phone costs an extra €20.

The most significant cost to expat users seeking a long-term investment platform is the flat fee (replacing the 0.2% pa custody charge).  This is €45 if you don’t trade during the quarter, but free if you trade regularly.

Full pricing can be found by clicking here.

Some expats are ineligible for Internaxx accounts, such as expats in Japan, Indonesia and Bangladesh.

The pros

  • Wide range of investments
  • Low Cost
  • Excellent DIY platform

The cons

  • Complex choice of instruments
  • No advice
  • Dealing commissions
FAQs
What's the difference between each of Internaxx's trading platforms?

You can choose from 4 platforms: -

The web platform:

Invest with insight - premium features, tools and research

  • Get free real-time quotes, news and charting tools
  • Access free Morningstar research and technical analysis from Trading Central
  • Make informed decisions with powerful Stock, Fund and ETF Selector tools
  • Settle in your currency of choice with your multi-currency account
  • Set alerts, create watchlists, place market, limit or stop loss orders
  • Unlock additional free benefits as an Active Trader (Trade 12 times over 3 months to qualify)

The advanced trading plaform:

  • Personalise your trading platform to match your preferences
  • Stay in control with an integrated portfolio view and single-click trades
  • Access live streaming US, Canadian and UK prices
  • Identify market trends with heat maps and independent research
  • Build your dashboard with streaming charts, news and technical analysis
  • Set up alerts and place orders directly from your portfolio or watchlists

The mobile platform:

  • Choose which free device-optimised mobile app is right for you
  • Trade directly from your iphone
  • Follow the markets, monitor your portfolio and manage accounts
  • Get real-time stock quotes, view price charts and place orders
  • Create up to 5 watchlists to help you seize market opportunities
  • Invest with confidence - data is 128-bit encrypted

The derivatives platform:

Develop your trading portfolio with Internaxx's partnership with Saxo Bank

  • Trade Forex, CFDs, Options, Futures, on margin
  • Connect to a wealth of market data, news, innovative tools and features
  • Take advantage of precision execution and powerful performance
  • Access a wide range of order types, technical insights and charts
  • Adapt your workspace with personalised trading, account and research views
  • Choose a downloadable software program or a web platform

 

What does Internaxx offer that sets them apart?

Here's what they say: -

Save money with good value, clear and transparent pricing

Take advantage of their US expertise and unrivalled execution

Count on knowledgeable, multi-lingual assistance

View your entire portfolio in a single snapshot

Manage up to 9 different currencies through one simple account

Access free exclusive research, data and advanced trading tools...

Customer reviews
Nothing special

Underwhelmed with Internaxx and I dispute your star rating.

There's nothing different about Internaxx that you can't get elswhere.

Expert verdict
Expert Assessment of Independent Review: Internaxx (formerly TD Direct Investing International)

Our verdict is that this is an excellent platform for those individuals who are comfortable making their own investment decisions, can resist the natural temptation to make investment mistakes, and do not need sophisticated facilities for wealth structuring.

However, at the time of writing, we do question Internaxx's choice of photography on their website. Why have a man, a dog and a boat advertising an investment platform?!

If you'd like us to review your holdings with Internaxx, we invite you to make use of a no cost, no obligation X-Ray Review™.

“Thank you AES International for helping me and my family with your low cost no-nonsense approach. It is refreshing!”

Kristian Petersson

“With this sort of service you also expect to be paying very high fees, but it’s just not the case. I would definitely recommend AES.”

Jake van den Dries

“In the short time that I’ve been using AES I’ve made nearly ten thousand pounds and couldn’t be happier!”

Jackie Pym

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