TD Direct Investing Review 2020
TD Direct Investing is a Canadian brokerage offering flexible trading platforms and a variety of educational materials. Fees are not the lowest and they do not offer forex, CFD or cryptocurrency trading. This makes them a limited choice compared to other online brokers.
TD Direct Investing Review 2020, Pros & Cons
- Flexible platforms
- Learning Centre
- Markets and Research Centre
- No forex, CFD or crypto trading
- No MetaTrader platform
- Restricted leverage
- Limited funding options
- Not the cheapest fees
In this detailed TD Direct Investing review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
TD Direct Investing is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including TD Direct Investing.
TD Direct Investing Review: Summary
TD Direct Investing is a Canadian brokerage offering online trading on multiple trading instruments from multiple asset classes. They provide the products, tools and services to help different types of investors reach their individual financial goals.
Founded in 1984, new and experienced online investors alike have been using their services for over 30 years, making them one of Canada’s largest online brokers with millions of clients.
They enable investors to take charge of their own portfolio through self-directed investing in Canadian and US stocks, options, exchange traded funds (ETFs), mutual funds, GICs, bonds, IPOs and more.
TD Direct Investing Review: Regulation
TD Direct Investing is regulated by The Investment Industry Regulatory Organisation of Canada (IIROC).
TD Direct Investing Review: Countries
Although TD Direct Investing is primarily targeted towards clients in Canada, they are also able to accept clients from some other countries. Some TD Direct Investing broker features and products mentioned within this TD Direct Investing review may not be available to traders from specific countries due to legal restrictions.
TD Direct Investing Review: Trading Platforms
TD Direct Investing have a choice of flexible trading platforms for investors of all experience levels. The WebBroker online trading platform is the most popular whilst the TD app can be used to trade on the go via Android and iOS compatible devices. They also offer the thinkorswim advanced trading platform that has an abundance of professional features.
The platforms enable investors to conveniently take control of their individual investments and portfolio. You can manage your investments, review performance, research the markets in great detail with the provided tools, buy and sell investments from across all markets on multiple devices.
TD Direct Investing Platform Features:
- Web and mobile platforms
- Manage account and trade whilst on the go
- User friendly interface
- Real time market quotes
- Open, manage and close positions
- Conduct thorough market analysis
- Set alert notifications
TD Direct Investing Review: Trading Tools & Education
The brokerage offers a variety of useful trading tools and educational resources to help assist clients with their trading, increase their trading knowledge and to give them more confidence when making decisions.
The TD Direct Investing Learning Centre gives all levels of users a collection of online resources that can help to build confidence with self-directed investing. It’s all supplied in one place within WebBroker, and gives clients free access to the following:
- How-to training videos and learning tools
- Simple to understand explanations covering a range of basic and advanced topics subjects
- Daily live, interactive online Master Classes
- Platform tours
There is a Markets and Research Centre which contains an abundance of market insights and research tools for the active and long-term investor. These can be used to help with market analysis and find potential trading opportunities. The research tools include:
- Real time news streams and commentary
- Economic and company events, including earnings, dividends, and rating changes through the market calendar
- Screeners to scan and filter instruments according to your criteria
- Interactive charting for conducting in-depth technical analysis
- Research reports from analysts at TD Securities, TD Economics, and third-party providers like Thompson Reuters and Morningstar
- MoneyTalk videos with actionable ideas
- Alerts and watchlists
TD Direct Investing Review: Trading Instruments
TD Direct Investing offer self-directed investing in Canadian and US stocks, options, exchange traded funds (ETFs), mutual funds, GICs, bonds, IPOs and more. The pricing is transparent and simple, with flat stock commission and no hidden fees.
Clients who place 150+ trades per quarter get active trader reduced pricing. Telephone transactions with principal values less than $2,000 will be charged a flat fee of CDN $43. If the total balance in your TD Direct Investing account is less than $15,000, then you will be charged a maintenance fee of $25 per quarter.
- Stocks – $9.99 ($7 for active traders)
- Options – $9.99 ($7 for active traders) + $1.25 per contract
- Mutual Funds – No commissions apply to buy, sell or switch. A short-term redemption fee may apply
- Fixed Income – Commissions for Bonds, Strip Coupons, GICs, T-Bills and other fixed income and money market products are included in the quoted price
- IPOS & New Issues – No commission is charged to express interest in an IPO. Normal commissions apply if the order is partially or fully filled
Real-time snap quotes are free and included with your account:
- TSX level I
- NYSE level I
- NASDAQ level I
- OPRA level I
- TSX Venture level I
- MX level I
TD Direct Investing Review: Trading Accounts & Fees
The broker has a range of different account types to suit different short-term and long-term goals, including cash and margin accounts, registered accounts and TFSAs. Whatever your preference there is likely an account for everyone.
- Margin accounts
- Cash accounts
- Self-Directed Tax-Free Savings Account (TFSA)
- Self-Directed Registered Retirement Savings Plan (RSP)
- Registered Education Savings Plan (RESP)
- Self-Directed Retirement Income Fund (RIF)
- Self-Directed Locked-In Retirement Accounts (LIRA)
- Life Income Funds (LIF)
- Self-Directed Registered Disability Savings Plan (RDSP)
As broker fees can vary and change, there may be additional fees that are not listed in this TD Direct Investing review. It is imperative to ensure that you check and understand all of the latest information before you open a TD Direct Investing broker account for online trading.
TD Direct Investing Review: Customer Service
Whether you are a new or experienced investor, the TD Direct Investing licensed team of investment representatives are available to answer your questions 24/7. The team is on hand and happy to assist you with all of your investment needs. Customer support is provided via telephone in multiple languages.
They also provide a booking form for those who wish to visit a local branch for a one on one consultation. You can also request a no-obligation call to answer your questions at your convenience. It is disappointing that there is currently no live online chat option for support.
TD Direct Investing Review: Deposit & Withdrawal
TD Direct Investing funding options are limited to wire transfer which can take a few business days to clear. Accounts can be opened in USD or CAD. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. The funding options are very limited compared to some other online brokers who provide convenient and quick online payment processors such as Skrill, Neteller and PayPal.
TD Direct Investing Review: Account Opening
It is a simple and relatively quick process to apply online for a TD Direct Investing account. You just need to enter your personal information, choose your account type and upload some documents for verification. Once your account has been verified which can take a few days, you will be able to fund it and start using the brokers financial services. The professional customer support team is on hand to assist you during the account opening process if need be.
TD Direct Investing Review: Conclusion
TD Direct Investing is a Canadian brokerage with a vast range of trading instruments, flexible trading platforms and good variety of educational materials. Fees are not the lowest and they do not offer forex, CFD or cryptocurrency trading. Furthermore, they do not provide the popular MetaTrader trading platform and the funding options are extremely limited.
Trading complex instruments can come with a high risk. You should consider whether you understand how investments and trading work and whether you can afford to take the high risk of losing all of your money.