Complete Guide on TD Bank Saving Accounts 

TD Bank is among the best banks in Canada that offer great saving accounts. TD bank offers one of the best banking services that are reliable, safe and readily available. This bank offers you convenient access to your money and customer support with more than 2,800 ATMs and 1,241 branches.

Another great thing about TD Bank or TD Canada Trust is that it offers protection to your money up to $100,000 through an insurance program with Canada Deposit Insurance Corporation. Let’s have a look at the saving accounts offered by TD Bank.

TD Everyday Saving Account

This account offers lets you save money with ease and provides anytime access to your funds. You will not be charged any monthly fee and you enjoy unlimited free transfers to your other TD accounts. If you already have TD bank accounts, this saving account will work great for you with an interest rate of 0.10%.

You can control your account with the TD banking app. A great feature of this app allows you to deposit cheques in your account by taking a picture of them and upload them on the app. You will be allowed to make one free transaction to any other bank account in a month. For more than one transaction, you pay $3 per transaction.

This account can be opened very easily and within a few minutes by filling an online form, otherwise, you can visit a branch. There will be no charges for online bank statement. For a paper bank statement, you will be charged $2 per month.

TD High-Interest Saving Account

Another powerful saving account is TD high-interest saving account. It is the most preferred one by the customers among all saving accounts. It is clear from its name that it offers a high-interest rate as compared to other accounts. You will get 0.50% interest; however, you should have a minimum of $5000 in your account.

Apart from the high interest rate, there is no monthly fee on this account so that you can focus on saving the money and reach your target soon. You will have unlimited transactions but will be charged $5 per transaction, however, if you have $25,000 or more in your account, this fee will be waived off.

TD High-Interest TFSA 

On the list of saving accounts in TD bank, there is another popular saving account know as TD high-interest TFSA account. Apart from interest earnings, there are a few features that help you in saving even more.

All the interest amount that you will receive on the deposit, will not be subjected to any taxation. Also, you will be provided with unlimited transactions. The great thing is that there will be no charge for these transactions. You can make free ATM withdrawals and internal transfers.

TD Youth Saving Account 

The TD Youth Saving Account has been specially designed for Canadians under the age of 19. The account holders can earn interest at the rate of 0.10%. Also, all the transactions are free including internal transfers.

Why do the rookies struggle with the currency trading business?

Forex trading has become one of the most lucrative professions in today’s world. Many retail traders have already changed their lives by learning the art of trading. But if you think mastering the art of trading is an easy task, you are making a big mistake. Just like any other profession, you need to read a lot and learn about the market to become successful. Learning should become a continuous process as it will help you to stay up to date with the market. Never stop learning and believe that you will succeed as a professional trader.

There are many reasons why rookie traders struggle with the trading profession. Since it is not possible to highlight all those reasons in this article, we are going to discuss the most common ones. Let’s dive into the detail.

Lack of knowledge

The majority of rookie traders don’t have enough knowledge about this market. Most of the time, they are taking trades based on emotions and gut feelings. At the time you might know about the basics and be ready to take the trades in the real market. Instead of trading with real money, we suggest trading the market in the demo environment. By taking trades in the demo account, you can easily improve your skills and develop a strong basic. Once you become skilled, you can significantly improve your decision-making ability. Try not to trade the market aggressively as it will make things worse.

Using a low-end broker

Novice traders usually trade the market with low-end brokers. They think it will save them money and let them earn more. But if you know mere om Saxo, you will never trade with a low-end broker. High-end brokers always offer a premium trading environment to retail traders so that they can execute high-quality trades. Being a novice trader, try to find the best broker so that you don’t have to deal with any unwanted problems. Take your time and never think you can earn more with a bad broker.

Trading the lower time frame

Rookies often take trades in the lower time frame and think it is the best way to earn money. But if you do the math properly and trade the market in a higher time frame, you will never have any problem with the trade execution process. Though a lower time frame provides more signals to retail traders, it can increase the risk factors significantly. To keep your fund safe, you should be taking the trades in a higher time frame. Try to not follow an aggressive method as it will make things too complex.

Trading the key news

Novice traders love to trade the major news as it increases the chances of making money. The market becomes extremely volatile and that provides a unique opportunity to catch the big market movement. But if you do the research properly, you will realize trading the major news is a very tough task as the mighty dollar often loses its strength against most of the major rivals. So, you should not trade the market during high-impact news releases. Once you learn to take trades by analyzing the major news, you should be able to improve your decision-making ability.

Trade with the trend

Being a currency trader, you should always trade with the major trend. The majority of rookie traders try to trade the market against the major trend. Thus, they lose money most of the time. If you want to keep your fund safe, you must learn to trade the market in a very strategic way. Once you become comfortable with the trade execution process, you will realize the importance of having a trend trading strategy. Always remember, the trend is your friend. So, if you ignore the market trend, you could lose money most of the time.