My opinion on TD
TD Direct Investing stands out as one of Canada's oldest and most reliable brokers, regulated by IIROC and backed by the Canadian Investor Protection Fund, offering strong investor security and branch-based support. The platform appeals to investors seeking a broad selection of traditional assets—over 10,000 stocks, ETFs, mutual funds, bonds, and options—but does not provide forex, CFD, or direct crypto trading. While TD's web and mobile trading platforms are robust and easy to use, their fees—namely the $9.99 commission per trade—are higher compared to leading Canadian competitors like Questrade and Wealthsimple, who focus on cost-effectiveness and digital-first features. TD's main strengths are its comprehensive asset variety, deep regulatory backing, integrated banking, and ability to meet complex portfolio needs. However, features popular with active traders such as demo accounts, copy/social trading, high leverage, and direct access to new asset classes are absent. TD was founded in 1955 and serves millions of Canadian clients; Trustpilot reviews average 1.3/5 from over 2,000 respondents, reflecting critical feedback particularly on fees and support delays but also highlighting platform reliability. In summary, TD positions itself as a trustworthy, full-service broker ideal for traditional investors prioritizing safety and broad market access over lowest-cost trading.
According to my experience, TD is best suited for the following types of traders:
➡️ Traditional buy-and-hold investors: TD Direct Investing is well-suited for investors focused on long-term portfolio building with access to RRSP, TFSA, and non-registered accounts, thanks to its strong regulatory backing (IIROC, CIPF) and wide array of traditional investment options (stocks, ETFs, mutual funds, bonds, options).
➡️ TD Bank clients seeking integrated financial services: For those already banking with TD, the platform offers seamless account linking, consolidated dashboards, and convenient branch-based support, making it easier to manage both banking and investments under one umbrella.
➡️ Investors prioritizing service and brand trust: Despite its higher trading fees ($9.99 per trade), TD appeals to clients who value platform stability, institutional reputation, and access to in-person advisory services—particularly useful for complex investment strategies or retirement planning.
- ✅Highly trusted and regulated broker (IIROC, CIPF, CDIC membership)
- ✅No minimum deposit required for most self-directed accounts
- ✅Extensive selection of 10,000+ instruments including stocks, ETFs, mutual funds, bonds, GICs, and options
- ✅Comprehensive choice of registered (RRSP, TFSA, etc.) and corporate account types
- ✅Integrated banking and investment services with in-branch support nationwide
- ✅User-friendly web, mobile, and desktop platforms with advanced dashboard for active traders
- ✅Broad order type support (market, limit, stop loss, trailing stops, etc.)
- ✅Dedicated customer support available 24/7 by phone in English and French
- ✅No deposit or withdrawal fees for standard electronic transfers
- ✅Free ETF purchases for TD-branded ETFs
- ❌Standard trading fees ($9.99 per trade) are among the highest in Canada
- ❌No demo account for live trading practice
- ❌Does not offer direct forex, CFD, or spot crypto trading to retail clients
- ❌Indirect access to crypto is limited to ETFs and related stocks (no wallets, lending, or staking)
- ❌No copy trading, social trading, or advanced third-party tools integration (e.g., MT4/MT5/TradingView)
- ❌Potential inactivity fee of $25/quarter for small, dormant accounts
- ❌Wire withdrawals incur a $25+ fee
- ❌No Islamic (swap-free) accounts available
- ❌Negative Trustpilot user reviews (1.3/5 from 2,000+ reviews), citing customer service and high costs
- ✅Highly trusted and regulated broker (IIROC, CIPF, CDIC membership)
- ✅No minimum deposit required for most self-directed accounts
- ✅Extensive selection of 10,000+ instruments including stocks, ETFs, mutual funds, bonds, GICs, and options
- ✅Comprehensive choice of registered (RRSP, TFSA, etc.) and corporate account types
- ✅Integrated banking and investment services with in-branch support nationwide
- ✅User-friendly web, mobile, and desktop platforms with advanced dashboard for active traders
- ✅Broad order type support (market, limit, stop loss, trailing stops, etc.)
- ✅Dedicated customer support available 24/7 by phone in English and French
- ✅No deposit or withdrawal fees for standard electronic transfers
- ✅Free ETF purchases for TD-branded ETFs
My opinion on TD
- ✅Highly trusted and regulated broker (IIROC, CIPF, CDIC membership)
- ✅No minimum deposit required for most self-directed accounts
- ✅Extensive selection of 10,000+ instruments including stocks, ETFs, mutual funds, bonds, GICs, and options
- ✅Comprehensive choice of registered (RRSP, TFSA, etc.) and corporate account types
- ✅Integrated banking and investment services with in-branch support nationwide
- ✅User-friendly web, mobile, and desktop platforms with advanced dashboard for active traders
- ✅Broad order type support (market, limit, stop loss, trailing stops, etc.)
- ✅Dedicated customer support available 24/7 by phone in English and French
- ✅No deposit or withdrawal fees for standard electronic transfers
- ✅Free ETF purchases for TD-branded ETFs
- ❌Standard trading fees ($9.99 per trade) are among the highest in Canada
- ❌No demo account for live trading practice
- ❌Does not offer direct forex, CFD, or spot crypto trading to retail clients
- ❌Indirect access to crypto is limited to ETFs and related stocks (no wallets, lending, or staking)
- ❌No copy trading, social trading, or advanced third-party tools integration (e.g., MT4/MT5/TradingView)
- ❌Potential inactivity fee of $25/quarter for small, dormant accounts
- ❌Wire withdrawals incur a $25+ fee
- ❌No Islamic (swap-free) accounts available
- ❌Negative Trustpilot user reviews (1.3/5 from 2,000+ reviews), citing customer service and high costs
- ✅Highly trusted and regulated broker (IIROC, CIPF, CDIC membership)
- ✅No minimum deposit required for most self-directed accounts
- ✅Extensive selection of 10,000+ instruments including stocks, ETFs, mutual funds, bonds, GICs, and options
- ✅Comprehensive choice of registered (RRSP, TFSA, etc.) and corporate account types
- ✅Integrated banking and investment services with in-branch support nationwide
- ✅User-friendly web, mobile, and desktop platforms with advanced dashboard for active traders
- ✅Broad order type support (market, limit, stop loss, trailing stops, etc.)
- ✅Dedicated customer support available 24/7 by phone in English and French
- ✅No deposit or withdrawal fees for standard electronic transfers
- ✅Free ETF purchases for TD-branded ETFs
Why trust Hellosafe?
I spent considerable time personally testing TD’s trading experience, from opening an account to placing trades and navigating the WebBroker and Advanced Dashboard platforms. I explored not just stocks and ETFs but also dug into the quality of research tools, transparency of fees, and the real efficiency of customer support—both online and in-branch. My testing included reviewing the mobile app, checking order types, and seeing how reliable everything felt, especially for day-to-day investing.
I paid attention to what matters most: platform reliability, range of available assets, trading commissions, and how TD compares to other brokers I’ve actually used, like Questrade or Wealthsimple. On the plus side, TD stood out for asset coverage, in-person support, and a strong sense of security. But fees are higher than discount brokers and there’s no demo account for practicing trades, which makes it less ideal for pure beginners or those who trade frequently.
These opinions are based on my direct usage—not just reading the website or reviews. I hope my personal insights help clarify what trading with TD is really like, and whether it’s a good fit for your needs as a Canadian investor.
TD at a glance
Fonctionnalité | Détail |
---|---|
💰 Dépôt minimum | $0 for standard self-directed accounts |
🛡️ Régulation | IIROC, CIPF, CDIC, OSFI |
🪙 Licence crypto | No direct crypto license; access only via crypto ETFs |
📄 Enregistrement FSMA | Not registered with FSMA |
📈 Actifs disponibles | 10,000+ (stocks, ETFs, mutual funds, bonds, options, GICs, IPOs, TD funds) |
📊 Plateformes de trading | WebBroker (web), Advanced Dashboard (desktop), TD app (mobile) |
🛠 Outils de trading | Real-time quotes, research, screeners, advanced charting, customizable layout, order management |
🎮 Compte démo | Not available (educational resources only) |
☪️ Compte islamique | Not available |
📝 Ordres clés | Market, limit, stop loss, stop limit, trailing stop, conditional, GTC, GTD orders |
⚖️ Effet de levier | Up to 2:1 for equities in margin accounts |
💸 Frais | $9.99/trade stocks/ETFs; $7/trade for active; options: $9.99 + $1.25/contract; possible inactivity fee |
📞 Support client | Phone (24/7), secure messaging, in-branch, live chat (limited hours); full EN/FR support |
🌟 Avis Trustpilot | 1.3 / 5 (2,000+ reviews, July 2025) |
Security and Regulation
TD offers one of the most robust security and reliability profiles in the Canadian brokerage market. With full IIROC and CIPF membership, every client account enjoys the highest standard of regulatory oversight and insurance, including up to $1 million of investor protection against broker insolvency. All client assets are strictly segregated from TD’s own funds, and for banking products, separate CDIC coverage further enhances capital security.
Risk management tools on TD’s trading platforms meet industry standards: features such as stop loss orders, trailing stops, and robust two-factor authentication provide excellent protection for self-directed investors. However, negative balance protection isn’t explicit, but with no leveraged product offerings like CFDs or spot forex, client downside risk is inherently limited.
The bank’s century-long reputation, consistent top rankings among Canadian financial institutions, and wide branch network cement its reliability. While user review platforms mention issues such as higher fees or customer support delays, I regard TD as a gold-standard broker in Canada for security-conscious investors.
Indicator | Description | Evaluation |
---|---|---|
Regulatory compliance | IIROC, CIPF, OSFI, CDIC; Big Five Canadian bank, gold-standard regulatory oversight | 5/5 |
Fund security | Full client asset segregation, CIPF and CDIC protection, no custody/crypto risks | 5/5 |
Risk management tools | Stop loss, trailing stop, 2FA; limited leverage, no explicit negative balance protection | 4/5 |
Notoriety and coverage | Leading Canadian bank, strong industry reputation; mixed user reviews | 4/5 |
Fees, Spreads and Commissions
TD applies a traditional fee model that reflects its positioning as a premium, full-service broker affiliated with one of Canada's largest banks. For most retail investors, the $9.99 flat commission per stock or ETF trade is among the highest in the Canadian market, especially compared to discount brokers that offer trades from $0 up to $9.95 (and even as low as $0 for certain ETFs or select brokers). While the commission drops to $7.00 per trade for active traders, this threshold requires 150+ trades per quarter, which isn’t accessible for most retail investors.
One advantage that offsets part of this cost structure is that TD offers $0 commissions on the purchase of its own TD-branded ETFs, enabling cost-effective passive investing within the TD ecosystem. However, trading other common assets (including most mutual funds and options) still incurs relatively high charges, and fees for non-TD mutual funds can reach up to $50 per transaction.
Non-trading fees are reasonably transparent; there is no account opening fee or maintenance fee for most accounts, and no fee on standard electronic withdrawals. However, investors should be mindful of the $25 per quarter inactivity fee on accounts with a balance under $15,000 and no trades in the preceding year (although this is waived for registered or certain active accounts). The currency conversion fee—typically between 1.5% and 2% above the interbank rate—can add a material cost for investors trading US-listed assets, a critical consideration when compared with brokers advertising tighter forex spreads or multi-currency accounts.
Hidden costs with TD tend to be limited compared to global multi-asset platforms. That said, the absence of direct forex, CFD, and crypto trading reduces both the variety of potential fees and the risk of complex, less transparent charges. TD’s model ultimately suits clients who value security, product breadth, and in-person service over ultra-low trading costs or access to alternative asset classes.
What are the account-related fees?
Fee Type | Conditions at TD | Market Average |
---|---|---|
Opening fee | $0 | $0 |
Maintenance fee | $0 (some managed accounts may have fees) | $0–$100/year |
Withdrawal fee | $0 (EFT); $25+ for wire transfers | $0–$50 |
Inactivity fee | $25/quarter if balance <$15,000 and no trades in 1 year (waived for registered accounts) | $0–$25/quarter |
Currency conversion fee | 1.5–2% over interbank rate | 1–2.5% |
Trader Tip
Trip: To reduce overall trading costs at TD, consider using TD ETFs for buy-and-hold strategies, as purchases are commission-free, and manage your cash in both CAD and USD to minimize frequent currency conversion charges.
What are the fees on stocks and ETFs?
Trading stocks and ETFs at TD means incurring a $9.99 flat commission per online trade unless you qualify as an active trader, in which case the fee drops to $7.00. TD-branded ETFs are an exception, as you can buy them commission-free. Spread fees are determined by market liquidity, as is standard in the industry, and are generally tight for TSX and NYSE-listed securities. There are no custody fees or overnight fees for standard accounts. For UK stocks, you should expect stamp duty, although this is less relevant for most Canadian retail clients.
Fee Type | Conditions at TD | Market Average |
---|---|---|
Commission | $9.99/trade ($7.00 for 150+ trades/qtr); $0 for TD ETFs (buy side) | $0–$9.95/trade |
Spread fee | Exchange-based, generally tight for liquid Canadian/US stocks | Exchange/native |
Overnight fee | $0 | $0 |
Custody fee | $0 for most accounts | $0–$50/year |
UK stamp duty tax | 0.5% on UK stock purchases | 0.5% |
What are the fees on cryptocurrencies?
TD does not offer direct crypto trading or custody. Crypto access at TD is strictly through ETFs and related stocks, so there are no direct crypto buy/sell, custody, or transfer fees. All standard ETF commissions and currency conversion charges apply.
Fee Type | Conditions at TD (via crypto ETFs/related stocks) | Market Average (crypto or CFD brokers) |
---|---|---|
Buy/sell fees | $9.99/trade ($7.00 active rates); $0 for TD ETFs | 0–2% (or fixed commission) |
Spread fees | Standard exchange ETF spreads | 0.1–1% |
Overnight fees | $0 (no leveraged trading in ETFs) | 0–0.1%/day (margin/CFD providers) |
Custody fees | $0 for standard accounts | 0–1%/year (some crypto exchanges) |
Transfer fees | Not applicable | $0–$20 per withdrawal |
Assets & Markets
TD provides an exceptionally broad range of investment assets, making it one of the most comprehensive brokerages in the Canadian market. I value the ability to directly trade thousands of Canadian and U.S. stocks, with ample coverage of both major exchanges and growth markets. The depth of ETF offerings is equally notable, with more than 1,000 funds spanning index tracking, sectors, global markets, and even thematic or ESG strategies available in both Canadian and U.S. listings.
For fixed-income investors, TD stands out with access to a wide universe of bonds, including federal, provincial, municipal, and corporate issues, as well as GICs and money market instruments. This strengthens portfolio diversification for income-focused and risk-averse clients. Options trading is supported for both U.S. and Canadian equities, with a robust set of order types and risk controls suitable for both beginners and experienced traders.
A core limitation of TD’s platform is the absence of direct trading for forex, spot commodities, or CFDs—a restriction stemming from Canadian regulations. Exposure to commodities and indices is only available indirectly via ETFs, mutual funds, or related stocks, which limits opportunities for short-term or leveraged trading in these asset classes. Cryptocurrencies are not available for direct purchase or custody, but investors can participate through crypto ETFs and select blockchain-focused stocks and funds.
TD does not support digital asset categories such as stablecoins or NFTs, and lacks crypto staking or DeFi features. For highly active traders or those seeking exotic products like leveraged derivatives, structured notes, or global spot FX, the platform is less competitive. Still, for most Canadian investors interested in traditional investing and seeking strong regulatory protection, TD offers best-in-class security, a seamless link to banking, and the confidence of extensive in-person and digital service.
Asset Class | Type | Number at TD | Market Average | Example Assets |
---|---|---|---|---|
Stocks | Spot | 3,000+ | 2,000–5,000+ | RBC, Shopify, Apple, Microsoft |
ETFs | Spot | 1,000+ | 1,000–2,000+ | iShares S&P/TSX 60, TD U.S. Equity Index |
Cryptocurrencies | ETF only | 100+ crypto ETFs | 20–200 (direct/ETF) | Purpose Bitcoin ETF, CI Galaxy Ethereum ETF |
Currencies | – | Not offered | 20–80 | – |
Commodities | ETF only | 100+ (commodity ETFs) | 50–300 | iShares Gold Bullion ETF, BMO Oil ETF |
Indices | ETF only | 100+ (index ETFs) | 30–100+ | Vanguard S&P 500 ETF, BMO S&P/TSX Capped |
Bonds | Spot | 1,000+ | 500–2,000+ | Gov’t of Canada 10yr, Enbridge bonds |
Stablecoins | – | Not offered | 5–15 (crypto) | – |
NFTs | – | Not offered | 10–100 (crypto) | – |
Other derivatives | Options | 100+ (CAD/US equities) | 100–500+ | S&P 500 options, TSX 60 options |
Trading Tools and Apps
TD’s WebBroker platform offers a stable and comprehensive environment for self-directed investors. The web interface is streamlined, intuitive, and rich in research tools, making it straightforward to screen, analyze, and trade thousands of Canadian and US-listed stocks, ETFs, mutual funds, and options. Real-time quotes, customizable watchlists, and news integrations are strong points—supporting both routine account management and more involved portfolio analysis.
For those who prefer trading on the go, the TD mobile app reliably delivers core features: order placement for stocks, ETFs, and options; portfolio and account monitoring; real-time alerts; and secure fund transfers. The mobile UX is clean and easily accessible for beginners, though experienced traders may find the research and charting capabilities more limited compared to the desktop or web platform.
TD’s Advanced Dashboard is targeted at active investors who require real-time streaming data, advanced charting, and deeper customization. It offers multiple workspaces and sophisticated order types, making it well-suited to users who want to react rapidly to market conditions. However, the Dashboard stops short of providing automation, scripting, or any form of algorithmic trading—these advanced tools, along with APIs and integration with third-party platforms like MetaTrader or TradingView, are not supported in the TD investing ecosystem.
No direct support exists for derivatives like CFDs, leveraged forex trading, or cryptocurrencies (beyond crypto ETFs), and features such as copy trading, staking, or auto-invest programs are absent. Beginners will appreciate the educational resources and fundamental analysis tools, while advanced users may reach the functional ceiling if they require full automation or complex technical analysis suites.
Feature | Verified Details |
---|---|
Mobile app | Proprietary TD app for iOS/Android; trading stocks, ETFs, options; account/fund management, secure login |
Usability | Fluid, reliable, beginner-friendly; robust for standard long-term investing |
Compatible software | WebBroker (web), Advanced Dashboard (desktop), TD Mobile App; no MetaTrader, TradingView, API support |
Order types | Market, limit, stop-loss, take-profit, trailing stop, conditional, GTC, GTD |
Charting and technical analysis | Integrated in WebBroker and Advanced Dashboard; built-in indicators, drawing tools—but no highly advanced analytics |
Auto trading / Automated strategies | Not supported; no bots or auto-invest features |
Algorithmic trading | Not available; no custom scripting or AI tools |
Negative balance protection | Not applicable (no margin FX/CFD/crypto trades; basic margin for equities subject to IIROC rules) |
Trading signals | Integrated news, analyst ratings, fundamental data; no live signals or TradingView-style integrations |
Asset search and filters | Advanced screeners, filters by sector, fundamental/technical criteria |
Spot stock purchase | Yes; direct spot exposure to Canadian, US, and select global stocks and ETFs |
Staking and earn | Not available; no crypto trading or staking features provided |
Trip
Take advantage of both the TD Advanced Dashboard and WebBroker platforms by using the Dashboard for real-time monitoring and execution, and WebBroker for its powerful screeners and research tools. Always enable two-factor authentication and regularly review your open stop-loss and limit orders to optimize security and trade management.
Account Opening and Deposits
Account opening
To open an account with TD, you begin by completing an online application or visiting a local TD branch. The process starts with a registration form where you provide personal details such as your full name, contact information, and Social Insurance Number (SIN). Identity verification is mandatory and requires presenting a government-issued photo ID and a recent proof of address, such as a utility bill or bank statement. Applicants need to answer a basic regulatory questionnaire covering investment experience and financial background. After uploading or presenting required documents, TD reviews your application. Validation can take from a few hours to a couple of business days. Once approved, you receive a confirmation email granting access to your account.
Good to know
If you open your account online, be sure that the address on your supporting documentation matches your application. During peak periods or for more complex cases, the review and approval time may be extended.
Item | Details |
---|---|
Opening procedure | Online registration or in-branch application; regulatory questions; KYC documents upload |
Validation time | Typically same day to 2 business days |
Accepted deposit methods | EFT, bill payment, cheque, wire transfer; card deposits not available |
Minimum required deposit | $0 for standard accounts |
Required documents | Government-issued photo ID, SIN, proof of address |
Practical tip | Have digital copies of your ID and proof of address ready for faster online processing |
Deposits and withdrawals on TD
Depositing funds into your TD Direct Investing account is straightforward and can be done via electronic funds transfer (EFT) from a Canadian account, bill payment through your online banking, mobile or in-branch cheque deposits, or a wire transfer. All accounts are denominated in CAD or USD, so ensure you use the correct currency for each account. EFTs and bill payments are generally processed within 1 business day, while cheques may take up to 3 days, and wire transfers 1–3 business days. Deposits are free of charge except for potential fees from sending institutions on wire transfers. Withdrawals are available by EFT, cheque, or wire transfer, with no fee for EFT or cheque withdrawals. Wire withdrawals incur a banking fee, typically starting at $25. TD does not offer stablecoin, crypto deposit, or integrated digital wallet solutions. Crypto and forex trading are not available—exposure to these is only possible through ETFs or related stocks.
Good to know
Always double-check if the source and destination currencies match your TD account to avoid currency conversion fees. Processing times may vary depending on your external bank or payment provider.
Payment method | Accepted currencies | Minimum amount | Processing time | Possible fees |
---|---|---|---|---|
Credit card | Not available | – | – | – |
Bank transfer | CAD, USD | $0 | 1–3 business days | Sending bank fees (for wires); TD $25+ outgoing wire |
E-wallets | Not available | – | – | – |
Stablecoins/crypto | Not available | – | – | – |
EFT (electronic) | CAD, USD | $0 | Instant to 1 day | None |
Cheque (in-branch/mobile) | CAD, USD | $0 | 1–3 business days | None |
Bill payment | CAD | $0 | 1–2 business days | None |
Account Types
TD is one of Canada’s most established financial institutions and offers a full suite of self-directed and managed investment accounts through TD Direct Investing. TD is not a CFD/Forex broker or a crypto platform. Instead, it specializes in classic cash, margin, and registered (tax-advantaged) investment accounts for stocks, ETFs, mutual funds, bonds, GICs, and options. There are no CFD, Forex, staking/earn, or cold storage offerings. TD’s platforms are regulated in Canada under IIROC/CIPF and are designed to meet the needs of both individual retail and professional clients. Accounts can be opened online or in-branch, with a robust focus on security and investor protection, but with relatively high trading fees compared to discount online brokers.
Account type | Available (✅/❌) | Main features |
---|---|---|
Demo account | ❌ | No public demo; educational tools and simulated order entries within the live platform |
Standard account | ✅ | Classic cash or margin accounts for stocks, ETFs, mutual funds, bonds, and GICs |
Raw ECN account | ❌ | Not available; no ECN or direct market access for retail clients |
Islamic account | ❌ | Not available; no swap-free account in Canada |
Professional account | ✅ | Dedicated services for active or high-net-worth individuals; access to advanced dashboards |
CFD account | ❌ | Not available; TD does not offer leveraged CFDs or spread bets |
Classic securities account | ✅ | Fully featured for stocks, ETFs, options, bonds, and mutual funds; standard for Canadian brokers |
Staking/earn account | ❌ | Not available; no staking or crypto DeFi functionality |
Cold storage account | ❌ | Not available; TD does not provide direct crypto access or cold storage |
Tax-advantaged account | ✅ | RRSP, TFSA, RESP, RRIF, LIRA, LIF, RDSP; registered accounts for Canadian tax optimization |
Accepted base currencies | CAD, USD | Choose a base account currency or switch to dual-currency account (CAD and USD) |
Tip for Choosing Your TD Account Type
When choosing your TD account type, weigh the benefits of tax-advantaged (RRSP, TFSA) and margin accounts. Active traders or professionals may benefit from “Advanced Dashboard” with streaming quotes and enhanced tools, but all retail accounts are subject to standard commissions.
How TD Compares to Competitors
Feature | TD | Questrade | Wealthsimple | Qtrade Direct Investing |
---|---|---|---|---|
Minimum deposit | $1,000 (recommended to avoid inactivity fees) | $1 | $0 | |
Number of instruments | Thousands (Stocks, ETFs, Options, Bonds, IPOs, Precious Metals) | Hundreds (Stocks, ETFs, select Cryptocurrencies) | Thousands (Stocks, ETFs, Options, Mutual Funds, Bonds, GICs) | |
Spreads (examples) | Stocks: $4.95–$9.95/trade; ETFs: free to buy; Forex: from 0.8 pips | $0 commission; 1.5% FX fee on US trades | Stocks/ETFs: $8.75/trade; 100+ commission-free ETFs | |
Trading platforms | Questrade Trading (Web/Mobile), Questrade Edge (Desktop) | Simplified Web & Mobile App | Web & Mobile App | |
Regulation | IIROC (CIRO), CIPF Member | IIROC (CIRO), CIPF Member | IIROC (CIRO), CIPF Member | |
Demo account | ✅ | ❌ | ✅ | |
Copy trading | ❌ | ❌ | ❌ | |
Read the review | Read the review Questrade | Read the review Wealthsimple | Read the review Qtrade Direct Investing |
Customer reviews
TD has a Trustpilot rating of 1.3 out of 5, based on more than 2,000 reviews as of July 2025. Les utilisateurs mettent en avant plusieurs aspects positifs de la plateforme, notamment :
- Reliable platform for stock and ETF trading
- Strong reputation and high level of trust as a major Canadian bank
- Wide selection of investment products including mutual funds, options, and GICs
- Access to in-person branch support and personalized advice
- Integrated banking and investing accounts
En revanche, plusieurs points négatifs sont régulièrement évoqués dans les avis :
- Long wait times for customer service, both by phone and online
- Higher trading commissions compared to many online competitors
- Occasional platform slowdowns or outages during peak periods
- No demo account or simulated trading environment
- Limited advanced trading tools for active traders
Voici quelques exemples représentatifs d’avis publiés sur Trustpilot :
S.K. – 29/06/2025 : “Long wait times for customer service, but the platform is reliable for stock trading.”
A.R. – 03/05/2025 : “Fees are higher than some online brokers, but I appreciate the security and in-person support.”
J.P. – 18/03/2025 : “WebBroker is easy to use, but I wish they offered more advanced trading tools.”
FAQ
Is TD regulated in CA?
Yes, TD Direct Investing and all investment accounts with TD are regulated in Canada by the Investment Industry Regulatory Organization of Canada (IIROC), now part of CIRO. TD is also a member of the Canadian Investor Protection Fund (CIPF), providing protection on eligible accounts up to $1 million.
What is the minimum deposit on TD?
There is no minimum deposit required to open a standard self-directed investing account with TD Direct Investing. However, some managed or private investment programs at TD may require higher starting amounts, usually beginning at $100,000 or more.
Does TD offer a welcome bonus?
TD generally does not offer standard welcome bonuses for new trading account openings. Occasionally, special promotions or transfer fee rebates may be available for new clients, but these are limited-time offers and not a constant benefit.
How does leverage work on TD?
Leverage at TD is available through approved margin accounts, which typically allow up to a 2:1 ratio for equities, following IIROC rules. Leverage is not available in registered accounts like RRSPs or TFSAs, and there is no direct leverage or trading allowed for forex, CFDs, or crypto.
How does TD make money?
TD earns revenue through trading commissions, account-related fees, interest on margin balances, and currency conversion spreads. The flat commission for stocks and ETFs is $9.99 per trade, and additional income is generated from products like options, mutual funds, and cash management.
Who is behind TD?
TD stands for Toronto-Dominion Bank, one of Canada’s largest and oldest financial institutions. It is a publicly traded company, headquartered in Toronto, and serves millions of clients across retail banking, investing, and wealth management.
When was TD launched?
The original TD Bank traces its roots back to 1855. TD Direct Investing, as a distinct brokerage platform for Canadian retail clients, has existed since the mid-1990s, evolving with technology and client needs over the decades.
Does TD offer copy trading or social trading?
No, TD does not provide copy trading, social trading, or PAMM accounts for its users. All investments are self-directed, with clients responsible for their own order placement and portfolio management.
How can I contact TD’s customer service?
TD Direct Investing offers 24/7 phone support, secure online messaging through WebBroker, and in-person help at branches across Canada. Live chat is also available during certain hours for online inquiries, providing support in both English and French.
Does TD offer any promotions or referral programs?
TD occasionally runs specific promotions, such as transfer fee rebates or cash bonuses for large incoming account transfers, but there is no standing referral program for self-directed investing accounts. It is recommended to check their official website for current offers.
Is TD regulated in CA?
Yes, TD Direct Investing and all investment accounts with TD are regulated in Canada by the Investment Industry Regulatory Organization of Canada (IIROC), now part of CIRO. TD is also a member of the Canadian Investor Protection Fund (CIPF), providing protection on eligible accounts up to $1 million.
What is the minimum deposit on TD?
There is no minimum deposit required to open a standard self-directed investing account with TD Direct Investing. However, some managed or private investment programs at TD may require higher starting amounts, usually beginning at $100,000 or more.
Does TD offer a welcome bonus?
TD generally does not offer standard welcome bonuses for new trading account openings. Occasionally, special promotions or transfer fee rebates may be available for new clients, but these are limited-time offers and not a constant benefit.
How does leverage work on TD?
Leverage at TD is available through approved margin accounts, which typically allow up to a 2:1 ratio for equities, following IIROC rules. Leverage is not available in registered accounts like RRSPs or TFSAs, and there is no direct leverage or trading allowed for forex, CFDs, or crypto.
How does TD make money?
TD earns revenue through trading commissions, account-related fees, interest on margin balances, and currency conversion spreads. The flat commission for stocks and ETFs is $9.99 per trade, and additional income is generated from products like options, mutual funds, and cash management.
Who is behind TD?
TD stands for Toronto-Dominion Bank, one of Canada’s largest and oldest financial institutions. It is a publicly traded company, headquartered in Toronto, and serves millions of clients across retail banking, investing, and wealth management.
When was TD launched?
The original TD Bank traces its roots back to 1855. TD Direct Investing, as a distinct brokerage platform for Canadian retail clients, has existed since the mid-1990s, evolving with technology and client needs over the decades.
Does TD offer copy trading or social trading?
No, TD does not provide copy trading, social trading, or PAMM accounts for its users. All investments are self-directed, with clients responsible for their own order placement and portfolio management.
How can I contact TD’s customer service?
TD Direct Investing offers 24/7 phone support, secure online messaging through WebBroker, and in-person help at branches across Canada. Live chat is also available during certain hours for online inquiries, providing support in both English and French.
Does TD offer any promotions or referral programs?
TD occasionally runs specific promotions, such as transfer fee rebates or cash bonuses for large incoming account transfers, but there is no standing referral program for self-directed investing accounts. It is recommended to check their official website for current offers.