TD Easy Trade review

TD Easy Trade is a beginner-focused trading app that lets you learn the basics of investing on your mobile phone. Access a multitude of learning resources to learn how and where you might want to invest your money, and get your first 50 trades for free. Learn more about TD Easy Trade and sign up today to get started.

Quick take

• Choose TD Easy Trade if you’re a beginner investor and you want commission-free trades and free learning resources.

• Choose something else if you are an active trader who wants commission free trades, or you want to trade more advanced products such as futures or options.

Who is TD Easy Trade best for?

TD Easy Trade is best for beginner investors who want to learn how to trade with ready-made tutorials and a user-friendly mobile platform. It might be a particularly good fit if you’d feel more comfortable keeping your money with a big bank instead of a smaller independent provider. You may want to avoid this platform if you’re looking for unlimited commission-free trades.

What’s the difference between TD Easy Trade and TD Direct Investing?

The main difference between TD’s 2 self-directed trading platforms is outlined below:

• TD Easy Trade. TD Easy Trade is a mobile app designed to make investing easier to understand. It has built-in videos and master classes, and a small offering of investment types. It lets you make 50 commission-free trades per year so you can try your hand at investing without paying too many fees.
• TD Direct Investing. TD Direct Investing is a comprehensive platform designed for more seasoned investors. It offers more account types and advanced investment products such as options, IPOs and fixed income investments. You’ll have to pay trading fees and there are fewer resources to teach you how to trade.

What features does TD Easy Trade offer?

TD Easy Trade comes with the following features:

• No monthly fees. Pay no monthly or quarterly account maintenance fees.
• Commission free trades. Enjoy zero commissions on all TD ETFs, and on your first 50 stock trades each year.
• No minimum balance. Open an account on the TD Easy Trade app and start investing with as little as $0.
• Learning tools. Take advantage of in-app videos, live master classes and webinars designed to teach you how to buy and sell investments effectively.
• Goal setting software. You can set measurable goals to define what you want to achieve with your investments.
• Multi-currency accounts. Hold funds in Canadian and US dollars to save money on currency conversion fees.

How easy is it to use TD Easy Trade?

It’s very easy to use TD Easy Trade since it’s designed to teach you how to invest. This means that you’ll learn how to navigate the mobile app, execute trades and set your risk balance all in a single place.

All you need to do is download the TD Easy Trade app and sign up for an account to get started. From there, you can load funds into your account, make investments, learn more about the “how to” of investing and set goals to track your progress.

Step 1: Sign up for an account and load money in by connecting your bank account to deposit and withdraw funds.

Step 2: Start exploring the educational resources in the app to get a feel for how to choose investments and balance your portfolio.

Step 3: Set investment goals for yourself so that you can track your progress towards that goal as you begin investing.

Step 4: Start buying and selling stocks, ETFs and American depository receipts (ADRs), and aim to create a well-rounded portfolio based on what you’ve learned.

TD Easy Trade app

The TD Easy Trade app has a 3.4 rating in the Apple Store and is ranked number 35 in the Finance category. The TD Easy Trade app has a 4.1 rating in the Google Play store.

Several positive reviews indicate that it’s an easy and straightforward app to use. Negative reviews seem to focus on the fact that you need to input your user credentials every time you log into the app since there is no facial recognition software.

TD Easy Trade fees

TD Easy Trade comes with no monthly or annual fees and has the following fee structure for stocks and ETFs:

Asset type	Fees
TD exchange traded funds	Free
Stocks	First 50: Free for each calendar year After 50: $9.99 per trade in the currency you’re trading in (USD or CAD)

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TD Easy Trade pros and cons

Pros

• Easy to get started. It’s easy to download the app, load funds into your account and start investing with as little as $1.
• Partially free platform. You won’t pay account fees and you’ll get your 50 first trades commission-free.
• Free knowledge-building tools. You can use TD’s wealth of learning resources and goal setting tools to get the most out of your investment account.

Cons

• Limited account types. You’ll only be able to open an RRSP, TFSA or cash account (margin accounts, RESPs and other retirement accounts aren’t available).
• Limited investment types. You’ll only have the option to trade stocks, TD ETFs and American depository receipts (ADRs).
• Few research tools. TD Easy Trade focuses on teaching you how to trade, but it doesn’t make a wide host of research tools available for daily use.
• Not all trades are free. TD Easy Trade doesn’t offer unlimited commission-free trades like discount brokerage apps such as Wealthsimple or MogoTrade.

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Is TD Easy Trade legitimate?

TD Easy Trade is offered by a Big Five Canadian bank and is a legitimate trading platform regulated by the Investment Industry Regulatory Organization of Canada (IIROC). Customer accounts are protected by the Canadian Investor Protection Fund (CIPF), which means any money you deposit up to $1 million will be protected if TD goes bankrupt.

How do I sign up?

You can sign up to TD Easy Trade with the following steps:

1. Download the TD Easy Trade app onto your mobile phone through the Apple Store or Google Play.
2. Input your personal information to sign up for an account, and upload required ID and verification documents as needed.
3. Provide banking information to link your bank account to your TD Easy Trade account.
4. Load funds into your account to start using the TD Easy Trade app.

How do I contact TD Easy Trade support?

You can find useful information about TD Easy Trade by visiting the online Easy Trade Help Centre or by calling into TD. You can also fill out an online form or book an appointment to speak with an agent in person on the TD website.

Bottom line

• Use TD Easy Trade if you’re an absolute beginner and you want access to dedicated resources designed to teach you how to invest.
• TD Easy Trade comes with no monthly fees, 50 commission-free trades, a welcome bonus and no minimum account limits.
• Choose something else if you want to trade more advanced investments such as futures or options, or you plan to make more than 50 trades per year and want to avoid commissions.

Frequently asked questions

• Is TD Easy Trade good for beginners?

  Yes. This platform is designed for beginner investors, and comes with tools to teach you how to buy and sell trades, and set your risk portfolio. You’ll also get 50 commission-free trades per year so that you don’t lose money while you learn how to trade.

• What types of accounts and investments can I hold with TD Easy Trade?

  You can hold RRSPs, TFSAs and cash accounts with TD Easy Trade, and you’ll be able to trade stocks, exchange-traded funds and American depository receipts (ADRs). You may want to migrate over to TD Direct Investing if you want a larger array of account and investment types.

• How is TD Easy Trade different from TD Direct Investing?

  TD Easy Trade offers 50 commission-free trades each year and is designed to teach beginners how to trade. TD Direct Investing is a more complicated platform that’s designed for users who already know how to trade. You’ll have to pay commissions on trades with TD Direct, but you’ll have access to more account and investment types.

• How can I load funds into my account?

  You should be able to deposit funds into your account by making a bank-to-bank transfer, setting up a recurring deposit or transferring a registered account to TD Easy Trade.

• Do I need to pay taxes on my earnings?

  It depends. You’ll need to pay taxes on any money you earn on top of your original deposit with a cash account, but you won’t need to pay taxes on your revenue in registered accounts such as RRSPs or TFSAs.