My Review of TD Direct Investing in Canada (July 2025)

My opinion on TD Direct Investing

Last update: July 2, 2025

Discover the broker

3.9

Score

3.9

Score

P. LauroreFinance expert

TD Direct Investing stands as one of Canada's most established and reliable online brokers, backed by the strength and security of TD Bank Group (founded in 1955, serving millions of clients nationwide).
It is fully regulated by CIRO and is a member of the Canadian Investor Protection Fund (CIPF), ensuring a high level of investor safety and compliance.
TD Direct Investing's pricing features flat-rate commissions ($9.99 per trade for stocks and ETFs), which are competitive among Canada's major banks but less attractive compared to some low-cost fintech rivals, and the platform does not use spreads for equity trades.
The broker is especially notable for its comprehensive selection of Canadian and U.S.-listed stocks, ETFs (including crypto ETFs), options, mutual funds, and fixed income products.
TD Direct Investing competes with other bank-owned platforms like RBC Direct Investing and BMO InvestorLine, standing out for its robust research tools, advanced trading interfaces (WebBroker and Advanced Dashboard), and nationwide customer support—even though commission costs are higher than some fintech alternatives.
User reviews for TD Bank Canada on Trustpilot are mixed to negative (1.2/5 from 189+ reviews), largely citing customer service frustrations, though platform reliability and breadth of offering remain strong.
In my experience, this broker is best suited to the following trader profiles:

➡️ Beginners seeking a secure and regulated broker with strong educational materials and the ability to invest in a wide range of Canadian investment accounts (TFSA, RRSP, etc.) benefit from TD's trusted brand and in-branch support.

➡️ Intermediate and long-term investors looking for comprehensive research tools, access to North American markets, and integrated banking solutions find TD Direct Investing's platforms robust for portfolio building and management.

➡️ Advanced or active traders will appreciate the Advanced Dashboard and real-time data, though those reliant on ultra-low costs or advanced derivatives strategies may prefer more specialized platforms.

Pros

• ✅Strong regulatory oversight (CIRO) and CIPF member for client protection
• ✅Wide selection of Canadian, U.S., and international stocks, ETFs, mutual funds, bonds, options, and GICs
• ✅Flat-rate and transparent commissions on stocks and ETFs
• ✅Multiple registered account types (TFSA, RRSP, etc.) and USD accounts for efficient currency management
• ✅Robust web and mobile trading platforms with advanced charting, screeners, and rich educational resources
• ✅Access to crypto ETFs for indirect crypto exposure in registered accounts
• ✅Bilingual, nationwide customer support with phone and in-branch service

Cons

• ❌No CFD, spot forex, or direct crypto trading available
• ❌Higher commissions than some fintech brokers, not ideal for frequent small trades
• ❌Potential inactivity fee for accounts under $15,000 with fewer than 2 trades per quarter
• ❌No demo account, Islamic (swap-free) account, or copy/social trading features

Discover the broker

3.9

Score

3.9

Score

ProsCons

• ✅Strong regulatory oversight (CIRO) and CIPF member for client protection
• ✅Wide selection of Canadian, U.S., and international stocks, ETFs, mutual funds, bonds, options, and GICs
• ✅Flat-rate and transparent commissions on stocks and ETFs
• ✅Multiple registered account types (TFSA, RRSP, etc.) and USD accounts for efficient currency management
• ✅Robust web and mobile trading platforms with advanced charting, screeners, and rich educational resources
• ✅Access to crypto ETFs for indirect crypto exposure in registered accounts
• ✅Bilingual, nationwide customer support with phone and in-branch service

My opinion on TD Direct Investing

Last update: July 2, 2025

P. LauroreFinance expert

Pros

• ✅Strong regulatory oversight (CIRO) and CIPF member for client protection
• ✅Wide selection of Canadian, U.S., and international stocks, ETFs, mutual funds, bonds, options, and GICs
• ✅Flat-rate and transparent commissions on stocks and ETFs
• ✅Multiple registered account types (TFSA, RRSP, etc.) and USD accounts for efficient currency management
• ✅Robust web and mobile trading platforms with advanced charting, screeners, and rich educational resources
• ✅Access to crypto ETFs for indirect crypto exposure in registered accounts
• ✅Bilingual, nationwide customer support with phone and in-branch service

Cons

• ❌No CFD, spot forex, or direct crypto trading available
• ❌Higher commissions than some fintech brokers, not ideal for frequent small trades
• ❌Potential inactivity fee for accounts under $15,000 with fewer than 2 trades per quarter
• ❌No demo account, Islamic (swap-free) account, or copy/social trading features

Discover the broker

3.9

Score

3.9

Score

ProsCons

• ✅Strong regulatory oversight (CIRO) and CIPF member for client protection
• ✅Wide selection of Canadian, U.S., and international stocks, ETFs, mutual funds, bonds, options, and GICs
• ✅Flat-rate and transparent commissions on stocks and ETFs
• ✅Multiple registered account types (TFSA, RRSP, etc.) and USD accounts for efficient currency management
• ✅Robust web and mobile trading platforms with advanced charting, screeners, and rich educational resources
• ✅Access to crypto ETFs for indirect crypto exposure in registered accounts
• ✅Bilingual, nationwide customer support with phone and in-branch service

TD Direct Investing stands as one of Canada's most established and reliable online brokers, backed by the strength and security of TD Bank Group (founded in 1955, serving millions of clients nationwide).
It is fully regulated by CIRO and is a member of the Canadian Investor Protection Fund (CIPF), ensuring a high level of investor safety and compliance.
TD Direct Investing's pricing features flat-rate commissions ($9.99 per trade for stocks and ETFs), which are competitive among Canada's major banks but less attractive compared to some low-cost fintech rivals, and the platform does not use spreads for equity trades.
The broker is especially notable for its comprehensive selection of Canadian and U.S.-listed stocks, ETFs (including crypto ETFs), options, mutual funds, and fixed income products.
TD Direct Investing competes with other bank-owned platforms like RBC Direct Investing and BMO InvestorLine, standing out for its robust research tools, advanced trading interfaces (WebBroker and Advanced Dashboard), and nationwide customer support—even though commission costs are higher than some fintech alternatives.
User reviews for TD Bank Canada on Trustpilot are mixed to negative (1.2/5 from 189+ reviews), largely citing customer service frustrations, though platform reliability and breadth of offering remain strong.
In my experience, this broker is best suited to the following trader profiles: ➡️ Beginners seeking a secure and regulated broker with strong educational materials and the ability to invest in a wide range of Canadian investment accounts (TFSA, RRSP, etc.) benefit from TD's trusted brand and in-branch support. ➡️ Intermediate and long-term investors looking for comprehensive research tools, access to North American markets, and integrated banking solutions find TD Direct Investing's platforms robust for portfolio building and management. ➡️ Advanced or active traders will appreciate the Advanced Dashboard and real-time data, though those reliant on ultra-low costs or advanced derivatives strategies may prefer more specialized platforms.

Discover the broker

Why trust Hellosafe?

I personally spent several days testing TD Direct Investing to get a real sense of its platform, carefully analyzing the quality of its trading tools, overall fees, available investment choices, and customer service response. I signed up, explored the WebBroker and mobile app, evaluated the research resources, and placed sample trades, all to truly understand the experience — not just reading brochures or copying other reviews.

My insights are based on actual usage — not just what TD promises, but how the tools work day-to-day, how fees compare to other major regulated brokers, and whether support is responsive as claimed. I looked at the pros and cons for both beginner and experienced investors, compared brokerage costs, platform reliability, and how TD stacks up for ETF and ETF-based crypto trading versus other Canadian brokers.

You can rely on this review because it’s grounded in genuine, first-hand testing, aiming for an honest view of what you should actually expect as a Canadian retail trader.

TD Direct Investing at a glance

Security & Regulation

TD Direct Investing stands out as one of the most robust and established brokers in Canada when it comes to security and reliability. Strict oversight from CIRO (formerly IIROC) and membership in the CIPF provide a solid foundation for regulatory and deposit protection, which means client funds are safeguarded up to Canadian industry standards.

The backing of TD Bank Group adds exceptional credibility, and I see clear segregation of client assets and all the necessary KYC/AML measures you’d expect from a tier-1 institution. While direct crypto exposure is not available (only crypto ETFs can be traded), this limitation actually reduces certain risks often found in less regulated online platforms.

Risk management tools are in line with the Canadian brokerage landscape. Standard features like stop loss, trailing stops, and multi-factor authentication are available—though negative balance protection is not formally implemented, as is the case with most regulated Canadian brokers.

Overall, the platform’s reputation is strong among seasoned investors, but poorer user review scores mostly reflect customer service issues, not security breaches or loss of client assets.

Fees, Spreads & Commissions

TD Direct Investing applies a traditional commission-based fee model that is straightforward but less competitive for active or high-frequency traders. The flat $9.99 commission per stock or ETF trade is above the rates offered by many online brokers (discount or zero-commission platforms), making this broker less attractive for frequent trading or small order sizes.

For account-related fees, I observe that there are no account opening or basic withdrawal charges, which is positive. However, the quarterly inactivity fee of $25 is higher than some competitors, though it is easily avoided for active clients or those with larger balances. Currency conversion costs are notable, ranging from 1.5% to 2% above the interbank rate. This makes trading U.S. stocks from CAD-funded accounts more expensive, and significantly impacts returns for active investors operating in multiple currencies.

TD Direct Investing does not offer direct trading in crypto or CFDs, which means there are no classic spread or overnight swap fees as found on global CFD/crypto platforms. Still, for investors seeking to buy crypto exposure, only ETF-based products are available, adding both management fees and standard trading commissions.

While mutual funds, bonds, and GICs are available with minimal or built-in fees, options trading commissions ($9.99 + $1.25 per contract) are also above the median, reinforcing the platform’s profile as a full-service yet premium-priced choice. Overall, TD Direct Investing is best suited for buy-and-hold investors, large portfolio holders, or those looking for strong asset protection within a recognized Canadian institution.

What are the account-related fees?

Tip:

To minimize transaction costs on U.S. stocks, open a USD-denominated sub-account—this avoids repeated currency conversion fees that can erode long-term returns.

What are the fees on stocks and ETFs?

Trading stocks and ETFs on TD Direct Investing is commission-based. The $9.99 flat fee per trade (Canadian or U.S.) is considerably higher than zero-commission brokers in North America. There are no spread fees (since executions occur at market rates), and no custody or overnight charges typical of many European or CFD brokers. UK stamp duty tax does not apply to North American investors on this platform.

What are the fees on cryptocurrencies?

TD Direct Investing does not permit direct crypto trading or crypto CFDs. Exposure is only through crypto ETFs and mutual funds; fees include the normal trading commission ($9.99 per ETF/fund buy/sell), while management fees are charged by the fund provider (typically 0.75%–1.25% per year). There are no wallet, overnight, or transfer fees at the platform level for crypto ETFs.

What are the fees on CFDs?

TD Direct Investing does not provide CFD trading on any asset class—stocks, indices, forex, commodities, or crypto. Therefore, there are no CFD-specific commissions, spreads, or overnight swaps. Investors must use other brokers for leveraged trading or derivative strategies.

Assets & Markets

TD Direct Investing stands out for its comprehensive offering of spot stocks and ETFs on both Canadian and U.S. exchanges, making it a strong choice for investors focused on equities and passive funds. The range covers major blue chips as well as smaller domestic companies, and I appreciate the inclusion of partial share investing, which isn’t standard across all Canadian brokers.

What sets the platform apart is its access to mutual funds and GICs, as well as direct access to fixed income products like government and corporate bonds. However, TD Direct Investing does not offer CFDs, spot forex, or direct crypto trading. For crypto exposure, it restricts access to crypto ETFs and mutual funds—this will suit those looking for regulated, simple entry points but may not satisfy active crypto traders or anyone seeking staking or “earn” features.

I’ve also noted the absence of access to physical commodities or commodity CFDs; all commodity investing here is done through ETFs and mutual funds. There’s no support for direct index or currency trading—again, these markets are available only through pooled fund products. The platform is well suited for long-term investors seeking traditional assets but is less adapted for traders who want derivatives, leverage beyond regulated margin, or alternative digital assets.

While I value the robustness and safety of TD Direct Investing, I see clear gaps for those looking for broad multi-asset or leveraged trading, comprehensive crypto services, or even niche products like NFTs and stablecoins. The current product list should serve most typical Canadian investors, but sophisticated active traders may find the options limiting.

Trading Tools & Apps

TD Direct Investing’s flagship platform, WebBroker, delivers an intuitive web experience ideal for equity and ETF traders. The layout is clean, watchlists and screens are customizable, and placing trades across Canadian and US markets is straightforward. Research tools, screeners, and real-time quotes are easily accessible, giving beginners a supportive environment while still offering the advanced data and reporting that seasoned investors appreciate.

The TD mobile app mirrors much of the WebBroker’s functionality. While it covers most trading needs—stock orders, real-time quotes, quick news access—charting tools are basic compared to dedicated platforms like MetaTrader or TradingView. Those seeking advanced technical analysis will find limitations, especially with the absence of drawing tools, multi-chart layouts, or custom indicators favored by algorithmic or active traders.

For experienced and active users, the Advanced Dashboard is a clear strength. Real-time streaming data, a suite of advanced charting tools, hotkey trading, and fast order entry give it a professional edge. However, it doesn’t integrate with MetaTrader 4/5 or third-party platforms like TradingView for direct trade execution, and no automated trading via bots, scripts, or Expert Advisors is available. API access for building custom strategies is lacking, and the system is not designed for forex, CFD, or direct crypto trading. Instead, exposure to crypto and commodities comes through ETFs and mutual funds.

TD Direct Investing is not a go-to for automation or algorithmic trading. The absence of copy trading, expert advisor support, or strategy bots will limit users looking to automate their portfolio or follow social signals. That said, the system’s stability, order execution quality, and strong asset search function make it a solid choice for investors seeking reliability, particularly in spot equities, ETFs, and options on Canadian and US exchanges.

Tip

For the most efficient experience, use TD’s Advanced Dashboard for detailed chart analysis and fast order entry, and switch to the mobile app for quick monitoring or trade execution on the go. Always enable two-factor authentication and customize your dashboards; if you’re new, practice advanced features in a low-transaction environment before committing real funds.

Account Opening and Deposits

Account opening

Opening an account with TD Direct Investing is straightforward for Canadian residents. Start by completing the online registration form, where you’ll be asked for personal information and to choose your account type (individual, joint, registered, business, etc.). You must upload identity documents—typically a government-issued photo ID, your SIN, and proof of address—then complete a regulatory questionnaire as required by Canadian regulations. After you submit your application, TD will review your documents. Most accounts are validated within 1-3 business days. Once approved, you’ll receive a confirmation email and gain access to the trading platform.

Good to know

Choosing the correct base currency at registration can help you avoid unnecessary conversion fees when trading U.S. or Canadian assets.

Deposits and withdrawals on TD Direct Investing

Deposits into TD Direct Investing accounts can be made by electronic funds transfer (EFT) from a TD or external bank, bill payment, in-branch cheque deposit, or wire transfer. No deposit method involves stablecoins or direct crypto funding; all transactions are in CAD or USD. Deposits are typically available instantly via EFT or within 1 business day; cheques and wires may take up to 3 days. Withdrawals can be requested by EFT to TD or other Canadian bank accounts, by cheque, or by wire transfer, with similar processing times. Most methods have no fees, but outgoing wires may incur a charge. No integrated wallet or fiat-to-crypto conversion is available.

Good to know

Always check which base currency your account uses before depositing—currency conversions may generate extra costs. Also, deposits from non-TD banks can take longer.

Account Types

TD Direct Investing is Canada’s leading direct brokerage platform, designed for both new and experienced investors. As a regulated securities/stock broker (not a CFD or crypto platform), it offers a wide range of account options, including personal, registered, corporate, and USD accounts to suit different investing needs. While you can access thousands of stocks, ETFs, and mutual funds on major exchanges, TD Direct Investing does not provide CFD, direct forex, or direct crypto accounts, but does support trading in crypto ETFs through standard account types.

Tip

Before choosing your TD Direct Investing account, carefully compare available tax-advantaged options like TFSA and RRSP. These can significantly optimize your returns and reduce your tax burden, especially when investing long-term in Canadian and U.S. markets.

Customer reviews

TD Direct Investing is commonly reviewed under TD Bank Canada on Trustpilot, where the platform holds a low overall rating of 1.2 out of 5 based on more than 189 user reviews.

Users highlight several positive aspects of the platform, including:

• Access to a wide range of Canadian and U.S. securities and registered accounts
• Reliable and stable trading platform for both web and mobile
• Nationwide support options (phone, in-branch, and online)
• Useful research tools and educational resources for investors

However, several negative points are frequently raised in reviews:

• Reports of long wait times and slow customer service response
• Some deposit and transfer issues, leading to delays and inconsistent support
• Perception of higher trading fees compared to competitors
• Some dissatisfaction with the lack of direct crypto, forex, or CFD trading options

Here are some representative examples of reviews posted on Trustpilot:

• J.B. – 02/21/2024: “Customer service is very poor. Long wait times and unhelpful responses.”
• A.S. – 01/13/2024: “The platform is reliable, but fees are higher than some competitors.”
• S.K. – 10/25/2023: “I only give 1 star because ZERO IS NOT AN OPTION! I have had an ongoing issue with a deposit and have gotten 7 different stories from so called supervisors...”

FAQ

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.