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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.
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.
You can choose from 4 platforms: -
The web platform:
Invest with insight - premium features, tools and research
The advanced trading plaform:
The mobile platform:
The derivatives platform:
Develop your trading portfolio with Internaxx's partnership with Saxo Bank
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..
Underwhelmed with Internaxx and I dispute your star rating.
There's nothing different about Internaxx that you can't get elswhere.