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TD Direct Investing Review

Enjoy fair prices when you invest and trade in a number of financial products using TD’s innovative online trading platform.

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Please note: All information about TD Direct Investing has been collected independently by Finder and this product is not available through this site.

TD Bank is a reputable Big Five Canadian bank that offers reasonable commissions when you trade using its online platformThis platform brings together cutting-edge technology with a number of learning resources and research tools to help you make sound investment decisions.

You’ll be able to sign up for an account online or by visiting a TD branch. Once you’re approved, you can start trading using TD’s WebBroker.

Quick take

  • Think about this trading platform if you’d prefer reasonable fees and you want to actively manage your investments with a Big Five Canadian bank.
  • Choose something else if you’re not very tech-savvy or you want your portfolio to be managed directly by a dedicated advisor.

What investments does TD Direct Investing offer?

TD Direct Investing will let you put your money into a number of different investment options. These include the following:

  • Equities. Equities are shares in companies that you can buy or sell on the stock market, and some of them will allow you to collect dividends.
  • Options. Options are a type of contract that let you speculate and bid on how an asset is going to perform on the stock market.
  • Mutual funds. Mutual funds are pooled stocks, bonds or other securities managed by a dedicated portfolio advisor.
  • Bonds. Bonds give you the option to loan out money to governments or corporations so that you can collect a set rate of interest on the money you lend.
  • New issues. New issues give you the chance to invest in a company that’s listing itself on the stock market for the first time.

Who is TD Direct Investing best for?

TD Direct Investing has dedicated investment options for new and experienced investors. It’s an exceptionally good fit for customers of TD bank that want to manage their own portfolios. It offers a user-friendly platform that can be used to trade in a number of different types of investments. It also offers a decent mix of research and educational tools to help you manage your portfolios and learn how to use the software.

How easy is TD Direct Investing to use?

TD Direct Investing operates through the TD WebBroker platform. This is an intuitive platform that’s designed for beginners and experts alike. TD’s online print and video resources make it easy to learn how to use the platform with. From there, you’ll be able to execute trades quickly and easily using the online platform.

It’s easy to sign up for an account in a matter of minutes. You’ll just need to prove your identity and upload money into your account to start trading.

What research does TD Direct Investing provide?

TD Direct Investing offers a number of research options to help you direct your investments:

  • Analyst research reports. You’ll get objective research on your investments from a team of dedicated experts.
  • Real-time market data. You can make more informed decisions about when to buy and sell your investments with real-time market data.
  • Charting tools. You’ll be able to chart out your potential earnings for your investments using a number of specialized tools.

Pricing and fees

You’ll pay a different amount for every trade you make depending on what type of investment you’re moving around. Some examples of the fees you’ll pay by trade are listed below:

Type of investment

Price for trade

Equities

Between $7 and $9.99

Mutual funds

$0 (but early redemption fees may apply)

Options

Between $7 and $9.99 (+$1.25 per contract)

Is TD Direct Investing safe?

TD Direct Investing is a very safe option to invest your money since it’s owned and operated by one of the Big Five Canadian banks. TD Bank is also a member of the Investment Industry Regulatory Organization of Canada (IIROC) as well as the Canadian Investor Protection Fund (CIPF).

How does TD Direct Investing keep my money safe?

TD Direct Investing maintains a number of physical, electronic and procedural safeguards designed to protect your account and personal information. This means that you don’t need to worry about your personal information or investment history falling into the wrong hands.

Customer reviews and complaints

TD Direct Investing has decent reviews from independent investment review sites. Positive reviews praise the wealth of learning and research tools available for the WebBroker platform. It’s also seen as a very safe and regulated way to invest money since there are a number of safeguards in place to protect your investments.

The downside of the service is that other independent trading platforms offer lower fees. Some independent review sites also voice complaints that there are a limited number of ways to fund your account and there are no forex or cryptocurrency trading options offered by the platform.

Pros and cons

Pros

  • Easy application. You can fill out an application for an account in a matter of minutes.
  • Many account types. You’ll be able to put your investments into many types of registered or non-registered accounts, depending on your preferences.
  • Learning tools. There are a number of ways to familiarize yourself with the platform, including training videos, webinars and other resources.
  • Many investment types. You can choose from a number of different investments to buy and sell.
  • Mobile app. TD offers a handy mobile trading app that will let you manage your account on the go.
  • Top-rated customer service. You can access TD’s customer service department online, over the phone or by visiting a branch.

Cons

  • Not the cheapest fees. There are a number of private online brokerages that offer cheaper fees.
  • Potential for financial losses. There’s always a risk that you’ll lose money on your investments if the market doesn’t perform well.
  • Quarterly fee. TD Direct Investing charges a quarterly fee of $25 to maintain your account.
  • Exclusively online. You’ll need to be relatively tech-savvy to navigate the online investment software and understand how to chart out your investments.
  • Less dedicated support. Since your investment experience is almost entirely online, you won’t be able to work face-to-face with a dedicated advisor.

How do I sign up?

If you think you meet all the eligibility criteria and you’re ready to start investing with TD Direct Investing, you just need to follow the steps below:

  1. Use the online application to provide personal information like your name, email address, proof of ID and relevant documents.
  2. Review and submit your application.
  3. Get verified and load funds into your account to start trading.

How do I contact TD Direct Investing support?

You can contact TD Direct Investing by calling its customer service line at 800-465-5463. You can also visit a branch to speak to an agent if you want more information about your account.

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Bottom line

TD Direct Investing lets you make self-directed trades through its online platform. It also offers a plethora of learning resources and research tools to help you make the best investments possible. Find out more about how this platform works and sign up for your free account today to start investing.

Frequently asked questions

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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