TD Direct Investing Review

Alyaziah Hayat | May 26, 2022

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. You can compare their trading conditions with other top brokers through our broker ratings.

Broker Pros / Cons
  • Regulated
  • 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

Summary

TD Direct Investing is a Canadian brokerage offering you 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 several years, making them one of Canada’s largest online brokers with millions of clients.

I like how they enable you to take charge of your own portfolio through self-directed investing in Canadian and US stocks, options, exchange-traded funds (ETFs), mutual funds, GICs, bonds, IPOs and more.

Regulation

TD Direct Investing is regulated by The Investment Industry Regulatory Organisation of Canada (IIROC).

Although TD Direct Investing is primarily targeted toward clients in Canada, they are also able to accept clients from some other countries. If your country is not accepted by TD Direct Investing, I recommend checking out our broker comparison tool for alternatives.

Platforms

TD Direct Investing Platforms

TD Direct Investing Platforms

TD Direct Investing has 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. I would’ve liked to see them offer their services on either the MT4, MT5 or cTrader platforms like other top brokers such as Axiory.

The platforms enable you to conveniently take control of their individual investments and portfolio. I like how 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

Education

The brokerage offers you a variety of useful trading tools and educational resources to help assist you with your trading, increase your trading knowledge and give you more confidence when making decisions.

I like how The TD Direct Investing Learning Centre gives you 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 you 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
  • Webinars

There is a Markets and Research Centre which contains an abundance of market insights and research tools for the active and long-term investor. I like how 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

Markets

TD Direct Investing offers 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.

I like how if you place 150+ trades per quarter, you 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

Accounts

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)

I would’ve liked to see them give the option of Islamic accounts as well for Muslim traders who need to trade swap-free. For access to an Islamic account, you should check out PaxForex.

Support

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. I appreciate that customer support is provided in multiple languages to cater to the international community of traders as well.

I also like how they provide a booking form for those of you 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. Though I find it disappointing that there is currently no live online chat option for support.

Funding

TD Direct Investing funding options are limited to wire transfers 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. I found the funding options to be very limited compared to some other online brokers like FXChoice which provides convenient and quick online payment processors such as Skrill, Neteller and PayPal.

Signup

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 broker’s financial services. I appreciate that the professional customer support team is on hand to assist you during the account opening process if need be.

Compare

Compare Broker (vs Our Top 3 Brokers)
Broker FeaturesAvaTradeIGIC Markets
Founded200619742007
RegulatedASIC, BVI, CBI, FFAJ, JFSA, FSCA, IIROC, ADGM FRSAFCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFFASIC, CySEC, FSA, SCB
CountryAustralia, Ireland, South Africa, Japan, British Virgin IslandsAustralia, UK, USA, Switzerland, UAE, Singapore, JapanAustralia, Seychelles, Bahamas, Cyprus
Min. DepositMin $250 DepositMin $100 DepositMin $200 Deposit
CommissionFrom $0From $0From $0
SpreadsFixedVariableVariable
Leverage1:4001:2001:500
InstrumentsForex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, CFDs, ETFsForex, Commodities, Stocks, Shares, Indices, Cryptocurrencies, Metals, Energies, Options, Bonds, ETFs, CFDsForex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs
PlatformsMetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade, Web, MobileMetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API, Web, MobileMetaTrader 4, MetaTrader 5, cTrader, Web, Mobile
TypeMarket Maker, STPSTP, ECN, DMAECN
FundingWire Transfer, Credit/Debit Card, Paypal, WebMoney, Neteller, SkrillWire Transfer, Credit/Debit Cards, PayPalWire Transfer, Credit Card, Debit Card, WebMoney, Neteller, PayPal, Skrill, FasaPay, UnionPay, Qiwi, Bpay, Poli
Visit BrokerVisit BrokerVisit BrokerVisit BrokerVisit BrokerVisit BrokerVisit BrokerVisit Broker

Conclusion

TD Direct Investing is a Canadian brokerage with a vast range of trading instruments, flexible trading platforms and a good variety of educational materials. Though I found that their fees are not the lowest and that 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. I recommend checking out the best trading platforms for alternatives.

TD Direct Investing

Min $1 Deposit

TD Direct Investing is a Canadian brokerage offering flexible trading platforms & a variety of educational materials. Fees are not the lowest & they do not offer forex, CFD or cryptocurrency trading.

Trading complex instruments can come with a high risk.

About the Author

Alyaziah Hayat
I had previously been forex trading for about 2 years and I now mainly focus on writing forex-related content. I also deal with cryptocurrencies and other financial assets in this industry. I've dealt with several brokers, assets, EA robots, and everything that this industry has to offer.

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