TD Direct Investing Review

TD Bank is a reputable Big Five Canadian bank that offers reasonable commissions when you trade using its online platform. This 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 want to actively manage your own investments with a Big Five Canadian bank, especially if you already bank with TD.

• Choose something else if your priority is low fees.

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:

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.

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. Other big 5 banks and brokerages have cheaper fees.
• No dedicated trading app. Unlike other platforms that have an app specifically for trading, TD Direct Investing has the functionality built into its main mobile banking app.
• Quarterly fee. TD Direct Investing charges a quarterly fee of $25 to maintain your account.

Alternatives to TD Direct Investing

Interactive Brokers

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CIBC Investor's Edge

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$4.95–$6.95

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Wealthsimple

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Get $25 when you open a Wealthsimple account and fund at least $150.

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$0

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Account Fee

$0

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.

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.

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CIBC Investor's Edge CIBC Investor's Edge		Finder Rating: ★★★★★ 3.8 / 5	Stocks, Bonds, Options, Mutual Funds, ETFs	$4.95–$6.95	$0 if conditions met, or $100	N/A	An easy-to-use platform with access to a variety of tools to help you trade with confidence.	Go to site View details	Compare	loading Fetching your data...
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CASHBACK Qtrade Direct Investing Qtrade Direct Investing	CASHBACK	Finder Rating: ★★★★★ 3.7 / 5	Stocks, Bonds, Options, Mutual Funds, ETFs, GICs	$6.95 - $8.75	$0 if conditions met, otherwise $25/quarter	Get up to $150 cashback. Use promo code OFFER150. Conditions apply. Ends October 31, 2023.	Low trading commissions and an easy-to-use platform with access to powerful tools and a wide selection of investment options.	Go to site View details	Compare	loading Fetching your data...

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Frequently asked questions

• How do I start purchasing investments?

  You can purchase investments once you’ve signed up for an account and put some money into it. You won’t need to have a minimum balance to get started, but you’ll be charged a fee for your account every quarter whether you use your account or not.

• How do I pay the lowest rates on my investments?

  You’ll pay the lowest rates on your investments if you’re labelled as an active trader. This requires you to make at least 150 trades per quarter. You’ll pay a higher price for every trade if you don’t reach that number of trades.

• Will I have to pay taxes on any interest I collect?

  You won’t have to pay taxes when you make interest on registered accounts like RRSPs or TFSAs. However, you will have to pay interest on unregistered accounts like cash and margin accounts.

• Who can I contact if I have questions about my account?

  You can call 800-465-5463 to speak to an agent. Alternatively, you can book an appointment to chat face-to-face with a customer service officer at a local TD branch.