The growing trend of Canadians banking on their smartphones is taking a new turn as Toronto Dominion Bank launches a software update that allows its clients to trade stocks with three of the most popular types of device.
The bank says the new version will allow TD customers to buy and sell both Canadian and U.S. stocks and exchange traded funds by using devices with Apple Inc.'s iOS, Google Inc.'s Android and Research in Motion Ltd.'s BlackBerry operating systems.
"They can also access research, watchlists and change or cancel their orders any time they like on the mobile app," said Rowena Chan, vice-president of business development at TD. "There is a demand out there."
The move comes as other Canadian banks develop similar trading options on their mobile apps.
Bank of Nova Scotia plans to debut mobile trading on its smartphone app this spring.