My Honest TD Platform Review (August 2025)

My opinion on TD

Last update: August 4, 2025

Discover the broker

3.3

Score

3.3

Score

P. Laurore

Finance expert

TD (Toronto-Dominion Bank), established in 1855, is one of Canada's largest and most reputable financial institutions, serving millions of investors and known for its robust regulatory oversight (IIROC, CIPF) and strong banking integration.
TD Direct Investing offers a comprehensive suite of traditional investment products—stocks, ETFs, mutual funds, options, and bonds—with over 10,000 instruments; however, the platform lacks direct access to forex, CFDs, and spot cryptocurrencies, confining its appeal to traditional asset classes.
Standard trading commissions are $9.99 per stock or ETF trade—higher than discount competitors such as Interactive Brokers but comparable to other major Canadian banks—and inactivity fees may apply for smaller, less active accounts.
TD distinguishes itself with features like 24/7 phone support, advanced web and desktop trading tools (WebBroker, Advanced Dashboard), and seamless banking integration, making it a reliable but premium-priced broker primarily targeting Canadian investors seeking security and in-person service.
Its Trustpilot score (1.3/5 from 2,000+ reviews) reflects common critiques of higher fees and customer service, though the firm remains a stalwart in reliability and asset protection.
Relative to competitors, TD stands out for ecosystem reliability and support, but its offering is less suited for cost-sensitive traders or those seeking modern asset classes like direct crypto or CFDs.
From my experience, TD is best suited for the following types of traders:

➡️ Conservative investors prioritizing security and reputation: Ideal for clients who value IIROC/CIPF regulation, in-person support, and the trust that comes with one of Canada’s largest banks.

➡️ Clients already banking with TD: Offers seamless integration between investment and banking services, making it especially convenient for existing TD clients managing multiple financial accounts.

➡️ Long-term, self-directed investors focused on traditional assets: Well-suited for users who plan to invest in Canadian and U.S. stocks, ETFs, mutual funds, and fixed income products without needing exposure to CFDs, forex, or crypto.

Pros

• ✅Comprehensive selection of Canadian and US stocks, ETFs, options, mutual funds, and bonds
• ✅Regulated by IIROC and protected by CIPF, delivering strong investor security
• ✅No minimum deposit for standard self-directed accounts
• ✅Seamless banking and investing integration for TD Bank clients
• ✅Advanced Dashboard platform for active traders with real-time data
• ✅WebBroker platform offers intuitive account management and trading tools
• ✅24/7 client phone support and in-branch assistance nationwide
• ✅No commission fees on TD ETFs
• ✅Full suite of registered accounts (RRSP, TFSA, RESP, etc.)

Cons

• ❌Standard trading commission ($9.99) is higher than most discount brokers
• ❌No access to direct forex trading, CFDs, or spot cryptocurrencies
• ❌Crypto exposure limited to ETFs and related stocks—no wallets, staking, or lending features
• ❌Inactivity fee ($25/quarter) for low balances and dormant accounts
• ❌No demo account available for public testing or simulated trading
• ❌No copy trading, social trading, or advanced automation features
• ❌Currency conversion on US trades is expensive (~1.5–2%)
• ❌Trustpilot user score is low (1.3/5, 2,000+ reviews), with complaints about fees and support wait times
• ❌Limited leverage (max 2:1), and none in registered accounts
• ❌No Islamic (swap-free) accounts or dedicated crypto services

Discover the broker

3.3

Score

3.3

Score

ProsCons

• ✅Comprehensive selection of Canadian and US stocks, ETFs, options, mutual funds, and bonds
• ✅Regulated by IIROC and protected by CIPF, delivering strong investor security
• ✅No minimum deposit for standard self-directed accounts
• ✅Seamless banking and investing integration for TD Bank clients
• ✅Advanced Dashboard platform for active traders with real-time data
• ✅WebBroker platform offers intuitive account management and trading tools
• ✅24/7 client phone support and in-branch assistance nationwide
• ✅No commission fees on TD ETFs
• ✅Full suite of registered accounts (RRSP, TFSA, RESP, etc.)

My opinion on TD

Last update: August 4, 2025

P. Laurore

Finance expert

Pros

• ✅Comprehensive selection of Canadian and US stocks, ETFs, options, mutual funds, and bonds
• ✅Regulated by IIROC and protected by CIPF, delivering strong investor security
• ✅No minimum deposit for standard self-directed accounts
• ✅Seamless banking and investing integration for TD Bank clients
• ✅Advanced Dashboard platform for active traders with real-time data
• ✅WebBroker platform offers intuitive account management and trading tools
• ✅24/7 client phone support and in-branch assistance nationwide
• ✅No commission fees on TD ETFs
• ✅Full suite of registered accounts (RRSP, TFSA, RESP, etc.)

Cons

• ❌Standard trading commission ($9.99) is higher than most discount brokers
• ❌No access to direct forex trading, CFDs, or spot cryptocurrencies
• ❌Crypto exposure limited to ETFs and related stocks—no wallets, staking, or lending features
• ❌Inactivity fee ($25/quarter) for low balances and dormant accounts
• ❌No demo account available for public testing or simulated trading
• ❌No copy trading, social trading, or advanced automation features
• ❌Currency conversion on US trades is expensive (~1.5–2%)
• ❌Trustpilot user score is low (1.3/5, 2,000+ reviews), with complaints about fees and support wait times
• ❌Limited leverage (max 2:1), and none in registered accounts
• ❌No Islamic (swap-free) accounts or dedicated crypto services

Discover the broker

3.3

Score

3.3

Score

ProsCons

• ✅Comprehensive selection of Canadian and US stocks, ETFs, options, mutual funds, and bonds
• ✅Regulated by IIROC and protected by CIPF, delivering strong investor security
• ✅No minimum deposit for standard self-directed accounts
• ✅Seamless banking and investing integration for TD Bank clients
• ✅Advanced Dashboard platform for active traders with real-time data
• ✅WebBroker platform offers intuitive account management and trading tools
• ✅24/7 client phone support and in-branch assistance nationwide
• ✅No commission fees on TD ETFs
• ✅Full suite of registered accounts (RRSP, TFSA, RESP, etc.)

TD (Toronto-Dominion Bank), established in 1855, is one of Canada's largest and most reputable financial institutions, serving millions of investors and known for its robust regulatory oversight (IIROC, CIPF) and strong banking integration.
TD Direct Investing offers a comprehensive suite of traditional investment products—stocks, ETFs, mutual funds, options, and bonds—with over 10,000 instruments; however, the platform lacks direct access to forex, CFDs, and spot cryptocurrencies, confining its appeal to traditional asset classes.
Standard trading commissions are $9.99 per stock or ETF trade—higher than discount competitors such as Interactive Brokers but comparable to other major Canadian banks—and inactivity fees may apply for smaller, less active accounts.
TD distinguishes itself with features like 24/7 phone support, advanced web and desktop trading tools (WebBroker, Advanced Dashboard), and seamless banking integration, making it a reliable but premium-priced broker primarily targeting Canadian investors seeking security and in-person service.
Its Trustpilot score (1.3/5 from 2,000+ reviews) reflects common critiques of higher fees and customer service, though the firm remains a stalwart in reliability and asset protection.
Relative to competitors, TD stands out for ecosystem reliability and support, but its offering is less suited for cost-sensitive traders or those seeking modern asset classes like direct crypto or CFDs.
From my experience, TD is best suited for the following types of traders: ➡️ Conservative investors prioritizing security and reputation: Ideal for clients who value IIROC/CIPF regulation, in-person support, and the trust that comes with one of Canada’s largest banks. ➡️ Clients already banking with TD: Offers seamless integration between investment and banking services, making it especially convenient for existing TD clients managing multiple financial accounts. ➡️ Long-term, self-directed investors focused on traditional assets: Well-suited for users who plan to invest in Canadian and U.S. stocks, ETFs, mutual funds, and fixed income products without needing exposure to CFDs, forex, or crypto.

Discover the broker

Top 5 Best Brokers

#1Eightcap

#2Star Trader

#3IFC Markets

#4Avatrade

#5XTB

Find my broker

Why trust Hellosafe?

I’ve personally tested TD Direct Investing from opening my account, going through the KYC process, to trading stocks and ETFs on their WebBroker and Advanced Dashboard platforms. I checked how straightforward each step was, how transparent the fees are, what kind of research and order tools are available, and how reliable customer support is—both online and over the phone. I also paid careful attention to what’s missing, such as access to forex or direct crypto, and the lack of a public demo account.

My hands-on experience, combined with direct comparisons to other major Canadian and global brokers, makes me confident TD is highly reliable for traditional assets. Regulation and investor protection are robust, and platform integration with TD banking is seamless. Still, the trading fees are higher than discount or global platforms, and advanced trading features (like copy trading or leveraged products) aren’t part of TD’s offer.

All my insights are based on actual use—no guesswork. If you want a clear picture of TD’s strengths and weaknesses for Canadian investors, what I share is shaped by my own honest testing and side-by-side comparisons with other regulated brokers.

TD at a glance

Security & Regulation

TD provides one of the most robust security and regulatory frameworks among Canadian brokers. As a major Canadian financial institution, it operates under strict oversight from IIROC, with the additional backing of CIPF for investor protection and CDIC for banking products. This multilayered compliance virtually eliminates counterparty risk for client assets.

All client funds are fully segregated from the bank’s own funds, with well-established processes that comply with Canadian regulations. The absence of complex products like leveraged CFDs and direct crypto underlines a conservative stance, focused more on reliability than aggressive product offerings. Trading platforms employ authenticated logins and optional two-factor authentication, and order execution tools include ample risk controls—though negative balance protection is not relevant due to the lack of retail derivative leverage.

TD’s track record as one of Canada’s largest banks is matched by strong institutional credibility. While user reviews highlight some service and fee concerns, in terms of core security and reliability, TD remains an industry benchmark for Canadian investors.

Fees, Spreads & Commissions

TD applies a traditional fee structure in line with other major Canadian bank-owned brokers. I find the standard stock and ETF commission of $9.99 per trade to be on the higher end, especially compared to digital-first brokers or new online platforms. This flat-fee approach benefits larger trades in dollar terms, but for small, frequent transactions it adds up quickly. Lower commissions are offered to active traders (150+ trades/quarter), but this threshold remains out of reach for most casual investors.

For ETFs, TD does not charge a commission on select proprietary TD ETFs, which provides a cost-effective entry route if you are focused on passive investing in those specific products. However, third-party ETF trades and non-proprietary funds revert to the standard $9.99 per-trade fee, with rare exceptions based on promotional periods.

TD does not support direct crypto trading, forex, or CFDs, so there are no variable spreads or overnight financing charges on those products. Investors looking for very tight spreads or high-frequency strategies on alternative assets will find TD's offering limited. Meanwhile, account-related costs—such as inactivity and currency conversion fees—are notable, particularly for clients with lower balances or cross-border investments. The 1.5–2% currency conversion fee is significantly above interbank rates and becomes a substantial friction cost for those trading U.S. securities frequently.

Where TD does shine is in its transparent, predictable pricing and absence of hidden fees for electronic fund transfers or account opening. This predictability matters for investors who want clarity, but total costs can still outpace discount competitors.

What are the account-related fees?

Expert advice – Trader Tip

To minimize account fees, maintain a balance above $15,000 or conduct at least one trade per year. Consider using USD accounts for frequent US stock trades to avoid repeated currency conversion charges that can quickly erode returns.

What are the fees on stocks and ETFs?

I consider TD’s $9.99 commission for stocks and ETFs a premium-level fee, making it less suitable for very active traders or those investing in small increments. The absence of a spread markup for listed equities is positive, but the combination of commissions and currency conversion can significantly affect net performance for cross-border or frequent trades. There is no custody or overnight fee for North American shares, but international investors should watch for country-specific charges like UK stamp duty.

Assets & Markets

TD offers one of the most complete selections of traditional asset classes among Canadian bank brokerages. I find the lineup of Canadian and U.S. stocks especially robust, with over 3,000 listed equities accessible through an easy-to-navigate web and mobile platform. For ETF investors, TD provides access to more than 1,000 Canadian and U.S.-listed ETFs, including commission-free trading on TD-branded funds—a cost-saving edge if you prioritize passive or diversified investing.

One clear limitation is the lack of direct access to CFDs, spot forex trading, and cryptocurrencies. While you can gain exposure to commodities, currencies, or even crypto through ETFs and mutual funds, the absence of direct trading or derivatives restricts tactical or leveraged trading strategies. Registered accounts (RRSP, TFSA, RESP, etc.) are all supported for stocks, ETFs, mutual funds, bonds, and GICs, catering well to long-term savers and those focused on tax-advantaged investing.

TD’s fixed income offering is solid, with a menu of government and corporate bonds available through the WebBroker platform. Options trading is also available for both Canadian and U.S. equities, enabling more advanced positioning and hedging strategies. However, I note the absence of digital assets, stablecoins, NFTs, or related features—these are essentially off-limits for now.

For investors seeking a secure, IIROC- and CIPF-backed platform with in-branch support and 24/7 phone access, TD covers the core asset types very well. The main trade-off is the premium pricing and the lack of alternative investments or high-leverage products, making TD less appealing for active traders or those seeking access to new asset classes.

Trading Tools & Apps

TD offers an all-in-one ecosystem for investors with platforms designed to meet the expectations of both beginners and actively managing users. The main online trading interface, WebBroker, delivers a user-friendly navigation with broad research integrations, handy screeners, and strong order management. Its real-time streaming quotes and news, combined with secure access and responsive layouts, make it highly approachable for those prioritizing reliability and ease of use.

The dedicated mobile app stands out for on-the-go monitoring and trading, allowing users to manage positions, execute orders, set up alerts, and deposit cheques directly. While deeply integrated into the TD financial network, the mobile app lacks some advanced analytics and customization found on the desktop interface, but is efficient for day-to-day tasks, reviewing portfolios, and basic charting.

Advanced Dashboard is best suited for experienced or active traders. It provides advanced order types, streaming level 2 data, customizable layouts, and dynamic watchlists. Sophisticated charting tools and a wide set of technical indicators are available, but there are limitations compared with global multi-asset brokers—algorithmic trading, APIs for automation, MetaTrader, or TradingView integration are not offered, and the platform is tailored around equities and options, not CFDs, forex, or crypto.

TD’s platforms support a comprehensive array of order types, including market, limit, stop-loss, stop-limit, trailing stop, and conditional orders (OCO), which supports versatile risk management. Execution speeds are excellent for North American equities, but the absence of automated trading (EAs, bots, scripting) or real copy trading functions will be a constraint for systematic or quant traders. Crypto and staking interfaces are not provided, with only indirect exposure available via ETFs.

The interface across all TD platforms is generally fluid and reliable, benefiting from robust infrastructure and 24/7 client support, but technical traders accustomed to highly customizable or scriptable software may find the tools somewhat basic relative to specialized trading apps.

Trader Tip

Explore the Advanced Dashboard on desktop to access deeper analytics and custom layouts before deploying trades on mobile. Configure conditional orders like OCO or trailing stops to manage positions efficiently, and always enable two-factor authentication for account security. For strategy refinements or practice, use smaller position sizes until your workflow on each platform feels fully intuitive.

Account Opening and Deposits

Account opening

Opening an account with TD begins online or in-branch by filling out a registration form, providing personal information, and creating secure login credentials. Next, identity verification is needed: you’ll upload required documents such as government-issued ID and proof of address. TD also asks standard regulatory questions to assess your investor profile and comply with Canadian KYC/AML regulations. After uploading your documents, the application is reviewed by the compliance team—this usually takes 1 to 3 business days but may extend during peak periods or if additional validation is needed. Once approved, you will receive a confirmation email with account access details and can then fund your account using your preferred method.

Good to know

Selecting your preferred base currency (CAD or USD) during registration helps optimize future deposits, withdrawals, and trading activity by minimizing currency conversion costs.

Deposits and withdrawals on TD

Depositing funds to your TD Direct Investing account can be done via EFT (electronic funds transfer), bill payment from Canadian banks, cheque deposit, or wire transfer. Deposits in CAD or USD are accepted directly; processing times typically range from instant (for internal moves) to up to three business days, depending on the method. Withdrawals are similarly available via EFT, cheque, or wire transfer, with timelines from next-day to several days for cheques or wires. TD does not charge for most deposit methods or electronic withdrawals, but wire transfers may incur a fee of $25 or more. As TD is a traditional broker and not a CFD/Forex or crypto platform, there is no built-in crypto wallet, and all transfers are in fiat currency. No fiat-to-crypto conversion is available; access to crypto is limited to ETFs and related stocks.

Good to know

Always check the currency of your account before a transfer and verify with your bank regarding any third-party fees or possible delays, especially for wire transfers to or from TD.

Account Types

TD Direct Investing, operated by TD (Toronto-Dominion Bank), is a well-established Canadian broker focusing exclusively on traditional securities—including stocks, ETFs, mutual funds, bonds, and options. It is not a CFD/Forex broker nor a crypto platform, and all trading is performed through IIROC and CIPF-regulated accounts. TD does not offer trading in CFDs, forex, or direct crypto assets, but provides a wide variety of registered and non-registered investment accounts, as well as robust web and mobile platforms. Some features common to CFD or crypto brokers, such as Raw ECN or staking accounts, are not available at TD. Demo accounts are not public, but the platform does offer extensive educational content for new users.

Trip

If you're an active trader, review not just account types but also compare platform features and commission schedules—TD’s robust Advanced Dashboard is best suited for frequent equity, ETF, or options trading, but keep in mind the flat $9.99 commission per trade.

How TD compares to competitors

How does TD compare to competitors?

Customer reviews

TD has a Trustpilot score of 1.3 out of 5, based on over 2,000 reviews as of July 2025.

Les utilisateurs mettent en avant plusieurs aspects positifs de la plateforme, notamment :

• Reliability of the platform for trading stocks and ETFs
• Strong security and reputation as a leading Canadian bank
• Wide range of registered and non-registered account types
• Access to in-person support at TD branches nationwide

En revanche, plusieurs points négatifs sont régulièrement évoqués dans les avis :

• Long wait times for customer service, especially by phone
• Higher trading fees compared to online discount brokers
• No demo or practice account for new investors
• Limited advanced trading tools for active traders

Voici quelques exemples représentatifs d’avis publiés sur Trustpilot :

_R.J. – 13/06/2025 : “Long wait times for customer service, but the platform is reliable for stock trading.”_ _E.F. – 02/05/2025 : “Fees are higher than some online brokers, but I appreciate the security and in-person support.”_ _J.N. – 19/04/2025 : “WebBroker is easy to use, but I wish they offered more advanced trading tools.”_

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.