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TD Direct Investing

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

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My opinion on TD Direct Investing

Last update: July 2, 2025
TD Direct InvestingTD Direct Investing
3.9
hellosafe-logoScore
P. Laurore
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.

  • 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
  • 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
TD Direct InvestingTD Direct Investing
3.9
hellosafe-logoScore
  • 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. Laurore
P. LauroreFinance expert
  • 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
  • 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
TD Direct InvestingTD Direct Investing
3.9
hellosafe-logoScore
  • 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.
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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

FonctionnalitéDétail
💰 Minimum depositNo minimum required for most accounts
🛡️ RegulationRegulated by CIRO (Canadian Investment Regulatory Organization); member CIPF
🪙 Crypto licenseNot available
📄 FSMA registrationNot applicable (Canadian broker)
💵 Available assetsStocks, ETFs, mutual funds, bonds, GICs, options, crypto ETFs (no direct crypto, forex, or CFDs)
📊 Trading platformsWebBroker, TD App (mobile), Advanced Dashboard
🛠️ Trading toolsReal-time quotes, screeners, watchlists, advanced charting, research, educational resources
🧪 Demo accountNot available
☪️ Islamic accountNot available
⏳ Key order typesMarket, limit, stop loss, stop limit, trailing stop, conditional orders
⚡ LeverageMargin up to 2:1 for stocks (CIRO rules apply)
💸 Fees$9.99/trade stocks & ETFs; $1.99 fractional shares; $9.99 + $1.25/option contract; no account opening fee
📞 Client supportPhone, secure message, in-branch; Mon–Fri 7 am–10 pm ET; some weekend support
🌐 Trustpilot reviewsTD Bank: 1.2/5 (189+ reviews); TD Direct Investing not rated separately
💰 Minimum deposit
Détail
No minimum required for most accounts
🛡️ Regulation
Détail
Regulated by CIRO (Canadian Investment Regulatory Organization); member CIPF
🪙 Crypto license
Détail
Not available
📄 FSMA registration
Détail
Not applicable (Canadian broker)
💵 Available assets
Détail
Stocks, ETFs, mutual funds, bonds, GICs, options, crypto ETFs (no direct crypto, forex, or CFDs)
📊 Trading platforms
Détail
WebBroker, TD App (mobile), Advanced Dashboard
🛠️ Trading tools
Détail
Real-time quotes, screeners, watchlists, advanced charting, research, educational resources
🧪 Demo account
Détail
Not available
☪️ Islamic account
Détail
Not available
⏳ Key order types
Détail
Market, limit, stop loss, stop limit, trailing stop, conditional orders
⚡ Leverage
Détail
Margin up to 2:1 for stocks (CIRO rules apply)
💸 Fees
Détail
$9.99/trade stocks & ETFs; $1.99 fractional shares; $9.99 + $1.25/option contract; no account opening fee
📞 Client support
Détail
Phone, secure message, in-branch; Mon–Fri 7 am–10 pm ET; some weekend support
🌐 Trustpilot reviews
Détail
TD Bank: 1.2/5 (189+ reviews); TD Direct Investing not rated separately

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.

IndicatorDescriptionEvaluation
Regulatory complianceCIRO-regulated, CIPF-protected, no direct crypto license but strong Canadian oversight5/5
Fund securitySegregation of funds; industry-standard protections; no crypto cold storage or proof-of-reserves4.5/5
Risk management toolsStop loss, trailing stop, 2FA; no negative balance protection4/5
Notoriety and coverageTD Bank Group backing; strong track record; low Trustpilot user reviews (mainly on service)4/5
TD Direct Investing Safety and Security Evaluation
Regulatory compliance
Description
CIRO-regulated, CIPF-protected, no direct crypto license but strong Canadian oversight
Evaluation
5/5
Fund security
Description
Segregation of funds; industry-standard protections; no crypto cold storage or proof-of-reserves
Evaluation
4.5/5
Risk management tools
Description
Stop loss, trailing stop, 2FA; no negative balance protection
Evaluation
4/5
Notoriety and coverage
Description
TD Bank Group backing; strong track record; low Trustpilot user reviews (mainly on service)
Evaluation
4/5
TD Direct Investing Safety and Security Evaluation

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?

Fee TypeConditions at TD Direct InvestingMarket Average
Opening fee$0$0–$50
Maintenance fee$0$0–$25/year
Withdrawal fee$0 (EFT to Canadian bank); up to $20 (wire)$0–$35
Inactivity fee$25/quarter (waived above $11,250 or 2+ trades/quarter)$0–$50/year
Currency conversion fee1.5%–2% above interbank rate0.5%–1.5%
Opening fee
Conditions at TD Direct Investing
$0
Market Average
$0–$50
Maintenance fee
Conditions at TD Direct Investing
$0
Market Average
$0–$25/year
Withdrawal fee
Conditions at TD Direct Investing
$0 (EFT to Canadian bank); up to $20 (wire)
Market Average
$0–$35
Inactivity fee
Conditions at TD Direct Investing
$25/quarter (waived above $11,250 or 2+ trades/quarter)
Market Average
$0–$50/year
Currency conversion fee
Conditions at TD Direct Investing
1.5%–2% above interbank rate
Market Average
0.5%–1.5%
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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.

Fee TypeConditions at TD Direct InvestingMarket Average
Commission$9.99 USD per trade$0–$9.99/trade
Spread fee$0$0 (commission model)
Overnight fee$0$0
Custody fee$0$0–$20/year
UK stamp duty tax$0 (not applicable)$0–$1.5% (if applicable)
Commission
Conditions at TD Direct Investing
$9.99 USD per trade
Market Average
$0–$9.99/trade
Spread fee
Conditions at TD Direct Investing
$0
Market Average
$0 (commission model)
Overnight fee
Conditions at TD Direct Investing
$0
Market Average
$0
Custody fee
Conditions at TD Direct Investing
$0
Market Average
$0–$20/year
UK stamp duty tax
Conditions at TD Direct Investing
$0 (not applicable)
Market Average
$0–$1.5% (if applicable)

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.

Fee TypeConditions at TD Direct InvestingMarket Average (crypto or CFD brokers)
Buy/sell fees$9.99 per ETF/fund trade0–2.5% per trade
Spread feesBuilt into ETF price; not platform specific0%–1%
Overnight fees$00%–0.2%/day (crypto CFDs)
Custody fees$0 (ETF: 0.75%–1.25%/year fund mgmt fee)0%–0.5%/year
Transfer fees$0 (no crypto withdrawals)$0–$25/withdrawal
Buy/sell fees
Conditions at TD Direct Investing
$9.99 per ETF/fund trade
Market Average (crypto or CFD brokers)
0–2.5% per trade
Spread fees
Conditions at TD Direct Investing
Built into ETF price; not platform specific
Market Average (crypto or CFD brokers)
0%–1%
Overnight fees
Conditions at TD Direct Investing
$0
Market Average (crypto or CFD brokers)
0%–0.2%/day (crypto CFDs)
Custody fees
Conditions at TD Direct Investing
$0 (ETF: 0.75%–1.25%/year fund mgmt fee)
Market Average (crypto or CFD brokers)
0%–0.5%/year
Transfer fees
Conditions at TD Direct Investing
$0 (no crypto withdrawals)
Market Average (crypto or CFD brokers)
$0–$25/withdrawal

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.

Underlying AssetMaximum LeverageSpread at TD Direct InvestingOvernight FeeMarket Average (CFD brokers)
CFD StocksNot offeredN/AN/A0.2%–0.7%, $0–$15/trade
Gold (XAU/USD)Not offeredN/AN/A0.3–0.5 pts, 0.01%/day
Silver (XAG/USD)Not offeredN/AN/A2–3 pts, 0.01%/day
Oil (WTI)Not offeredN/AN/A0.03–0.05 pts, 0.01%/day
EUR/USDNot offeredN/AN/A0.6–1 pip, 0.01%/day
EUR/GBPNot offeredN/AN/A1–2 pips, 0.01%/day
USD/JPYNot offeredN/AN/A0.7–1.4 pips, 0.01%/day
GBP/USDNot offeredN/AN/A1–2 pips, 0.01%/day
BEL 20 (BEL20)Not offeredN/AN/A1–2 pts, 0.01%/day
BTC/USDNot offeredN/AN/A0.5–1%, 0.03%/day
Comparison of CFD trading conditions: TD Direct Investing vs. Market Average.
CFD Stocks
Maximum Leverage
Not offered
Spread at TD Direct Investing
N/A
Overnight Fee
N/A
Market Average (CFD brokers)
0.2%–0.7%, $0–$15/trade
Gold (XAU/USD)
Maximum Leverage
Not offered
Spread at TD Direct Investing
N/A
Overnight Fee
N/A
Market Average (CFD brokers)
0.3–0.5 pts, 0.01%/day
Silver (XAG/USD)
Maximum Leverage
Not offered
Spread at TD Direct Investing
N/A
Overnight Fee
N/A
Market Average (CFD brokers)
2–3 pts, 0.01%/day
Oil (WTI)
Maximum Leverage
Not offered
Spread at TD Direct Investing
N/A
Overnight Fee
N/A
Market Average (CFD brokers)
0.03–0.05 pts, 0.01%/day
EUR/USD
Maximum Leverage
Not offered
Spread at TD Direct Investing
N/A
Overnight Fee
N/A
Market Average (CFD brokers)
0.6–1 pip, 0.01%/day
EUR/GBP
Maximum Leverage
Not offered
Spread at TD Direct Investing
N/A
Overnight Fee
N/A
Market Average (CFD brokers)
1–2 pips, 0.01%/day
USD/JPY
Maximum Leverage
Not offered
Spread at TD Direct Investing
N/A
Overnight Fee
N/A
Market Average (CFD brokers)
0.7–1.4 pips, 0.01%/day
GBP/USD
Maximum Leverage
Not offered
Spread at TD Direct Investing
N/A
Overnight Fee
N/A
Market Average (CFD brokers)
1–2 pips, 0.01%/day
BEL 20 (BEL20)
Maximum Leverage
Not offered
Spread at TD Direct Investing
N/A
Overnight Fee
N/A
Market Average (CFD brokers)
1–2 pts, 0.01%/day
BTC/USD
Maximum Leverage
Not offered
Spread at TD Direct Investing
N/A
Overnight Fee
N/A
Market Average (CFD brokers)
0.5–1%, 0.03%/day
Comparison of CFD trading conditions: TD Direct Investing vs. Market Average.

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.

Asset ClassTypeNumber at TD Direct InvestingMarket AverageExample Assets
StocksSpot4,000+3,000–5,000+Royal Bank of Canada, Apple
ETFsSpot1,000+500–2,000+iShares S&P/TSX 60, Vanguard S&P 500
CryptocurrenciesETF/Mutuals20+50–200 (incl. spot)Purpose Bitcoin ETF, CI Galaxy Ethereum ETF
CurrenciesNot offered030–90
CommoditiesETF/Mutuals25+20–100iShares Gold Bullion ETF, BMO Agriculture ETF
IndicesETF/Mutuals30+20–80XIU (TSX 60), SPY (S&P 500)
BondsSpot100+50–300Canada Savings Bond, Ontario Hydro Bond
StablecoinsNot offered05–15
NFTsNot offered05–20
Other derivativesNot offered010–50
Comparison of available asset classes at TD Direct Investing versus the market average.
Stocks
Type
Spot
Number at TD Direct Investing
4,000+
Market Average
3,000–5,000+
Example Assets
Royal Bank of Canada, Apple
ETFs
Type
Spot
Number at TD Direct Investing
1,000+
Market Average
500–2,000+
Example Assets
iShares S&P/TSX 60, Vanguard S&P 500
Cryptocurrencies
Type
ETF/Mutuals
Number at TD Direct Investing
20+
Market Average
50–200 (incl. spot)
Example Assets
Purpose Bitcoin ETF, CI Galaxy Ethereum ETF
Currencies
Type
Not offered
Number at TD Direct Investing
0
Market Average
30–90
Example Assets
Commodities
Type
ETF/Mutuals
Number at TD Direct Investing
25+
Market Average
20–100
Example Assets
iShares Gold Bullion ETF, BMO Agriculture ETF
Indices
Type
ETF/Mutuals
Number at TD Direct Investing
30+
Market Average
20–80
Example Assets
XIU (TSX 60), SPY (S&P 500)
Bonds
Type
Spot
Number at TD Direct Investing
100+
Market Average
50–300
Example Assets
Canada Savings Bond, Ontario Hydro Bond
Stablecoins
Type
Not offered
Number at TD Direct Investing
0
Market Average
5–15
Example Assets
NFTs
Type
Not offered
Number at TD Direct Investing
0
Market Average
5–20
Example Assets
Other derivatives
Type
Not offered
Number at TD Direct Investing
0
Market Average
10–50
Example Assets
Comparison of available asset classes at TD Direct Investing versus the market average.

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.

FeatureVerified Details
Mobile appTD trading app for iOS and Android; no MetaTrader, TradingView, or crypto wallet; real-time quotes and simple charting
UsabilityWebBroker interface is fluid and beginner-friendly; Advanced Dashboard offers a technical interface for pros
Compatible softwareProprietary web platform (WebBroker), TD Advanced Dashboard; no MetaTrader 4/5, no TradingView integration, no API for crypto
Order typesMarket, limit, stop loss, stop limit, trailing stop, conditional orders
Charting and technical analysisBuilt-in indicators on WebBroker and Advanced Dashboard; advanced charting in Advanced Dashboard, limited customization
Auto trading / Automated strategiesNot supported: no bots, no Expert Advisors, no copy trading, no automation
Algorithmic tradingNot available: no support for custom scripts, external bots, or coded strategies
Negative balance protectionNo direct CFD or forex accounts; not relevant
Trading signalsNo signals; users conduct own analysis, but news and data feeds integrated
Asset search and filtersAsset screener, dividend filter, real-time watchlists; strong for equities and ETFs, no direct crypto/CFD support
Spot stock purchaseAvailable: direct stock and ETF buying on Canadian, US, and select international markets
Staking and earnNot available; no staking, earning, or lending features for crypto investors
A table outlining the features and verified details of a trading platform.
Mobile app
Verified Details
TD trading app for iOS and Android; no MetaTrader, TradingView, or crypto wallet; real-time quotes and simple charting
Usability
Verified Details
WebBroker interface is fluid and beginner-friendly; Advanced Dashboard offers a technical interface for pros
Compatible software
Verified Details
Proprietary web platform (WebBroker), TD Advanced Dashboard; no MetaTrader 4/5, no TradingView integration, no API for crypto
Order types
Verified Details
Market, limit, stop loss, stop limit, trailing stop, conditional orders
Charting and technical analysis
Verified Details
Built-in indicators on WebBroker and Advanced Dashboard; advanced charting in Advanced Dashboard, limited customization
Auto trading / Automated strategies
Verified Details
Not supported: no bots, no Expert Advisors, no copy trading, no automation
Algorithmic trading
Verified Details
Not available: no support for custom scripts, external bots, or coded strategies
Negative balance protection
Verified Details
No direct CFD or forex accounts; not relevant
Trading signals
Verified Details
No signals; users conduct own analysis, but news and data feeds integrated
Asset search and filters
Verified Details
Asset screener, dividend filter, real-time watchlists; strong for equities and ETFs, no direct crypto/CFD support
Spot stock purchase
Verified Details
Available: direct stock and ETF buying on Canadian, US, and select international markets
Staking and earn
Verified Details
Not available; no staking, earning, or lending features for crypto investors
A table outlining the features and verified details of a trading platform.
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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.

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Good to know

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

ItemDetails
Opening procedureOnline form, identity verification, regulatory questionnaire, document upload
Validation time1–3 business days (may be longer during peak periods)
Accepted deposit methodsBank transfer, bill payment, cheque, wire transfer
Minimum required depositNo minimum for most accounts
Required documentsKYC form, government-issued photo ID, proof of address, SIN
Practical tipPrepare digital copies of your documents in advance for faster processing
Opening procedure
Details
Online form, identity verification, regulatory questionnaire, document upload
Validation time
Details
1–3 business days (may be longer during peak periods)
Accepted deposit methods
Details
Bank transfer, bill payment, cheque, wire transfer
Minimum required deposit
Details
No minimum for most accounts
Required documents
Details
KYC form, government-issued photo ID, proof of address, SIN
Practical tip
Details
Prepare digital copies of your documents in advance for faster processing

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.

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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.

Payment methodAccepted currenciesMinimum amountProcessing timePossible fees
Credit cardNot supportedN/AN/AN/A
Bank transfer (EFT)CAD, USDNo minimumInstant (TD) to 1 dayNone
E-walletsNot supportedN/AN/AN/A
Stablecoins/cryptosNot supportedN/AN/AN/A
ChequeCAD, USDNo minimum1–3 business daysNone
Wire transferCAD, USD, some major currenciesNo minimum1–3 business daysYes (outgoing may have a fee)
Bill paymentCADNo minimumUp to 1 business dayNone
A summary of available payment methods, including details on currencies, amounts, processing times, and fees.
Credit card
Accepted currencies
Not supported
Minimum amount
N/A
Processing time
N/A
Possible fees
N/A
Bank transfer (EFT)
Accepted currencies
CAD, USD
Minimum amount
No minimum
Processing time
Instant (TD) to 1 day
Possible fees
None
E-wallets
Accepted currencies
Not supported
Minimum amount
N/A
Processing time
N/A
Possible fees
N/A
Stablecoins/cryptos
Accepted currencies
Not supported
Minimum amount
N/A
Processing time
N/A
Possible fees
N/A
Cheque
Accepted currencies
CAD, USD
Minimum amount
No minimum
Processing time
1–3 business days
Possible fees
None
Wire transfer
Accepted currencies
CAD, USD, some major currencies
Minimum amount
No minimum
Processing time
1–3 business days
Possible fees
Yes (outgoing may have a fee)
Bill payment
Accepted currencies
CAD
Minimum amount
No minimum
Processing time
Up to 1 business day
Possible fees
None
A summary of available payment methods, including details on currencies, amounts, processing times, and fees.

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.

Account TypeAvailable (✅/❌)Main Features
Demo accountNo demo account functionality for simulated trading.
Standard accountClassic cash trading for stocks, ETFs, mutual funds, bonds, and options.
Raw ECN accountNot offered; TD Direct Investing does not provide ECN/fixed-spread forex trading.
Islamic accountNo swap-free or Sharia-compliant option available.
Professional account❌*No separate “pro” account; advanced tools (Advanced Dashboard) for active traders in regular accounts.
CFD accountNo CFDs on any asset class; only genuine securities.
Classic securities accountTraditional investing account for direct ownership of shares and funds.
Staking/earn accountNo staking or yield-earning features for crypto or other assets.
Cold storage accountNo crypto/cold storage wallet service; crypto investing only via ETFs.
Tax-advantaged accountWide selection: TFSA, RRSP, RESP, RRIF, LIRA, LIF, RDSP with tax benefits for Canadians.
Accepted base currenciesCAD & USD available for all main account types; supports dual-currency trading.
A summary of account types available at TD Direct Investing.
Demo account
Available (✅/❌)
Main Features
No demo account functionality for simulated trading.
Standard account
Available (✅/❌)
Main Features
Classic cash trading for stocks, ETFs, mutual funds, bonds, and options.
Raw ECN account
Available (✅/❌)
Main Features
Not offered; TD Direct Investing does not provide ECN/fixed-spread forex trading.
Islamic account
Available (✅/❌)
Main Features
No swap-free or Sharia-compliant option available.
Professional account
Available (✅/❌)
❌*
Main Features
No separate “pro” account; advanced tools (Advanced Dashboard) for active traders in regular accounts.
CFD account
Available (✅/❌)
Main Features
No CFDs on any asset class; only genuine securities.
Classic securities account
Available (✅/❌)
Main Features
Traditional investing account for direct ownership of shares and funds.
Staking/earn account
Available (✅/❌)
Main Features
No staking or yield-earning features for crypto or other assets.
Cold storage account
Available (✅/❌)
Main Features
No crypto/cold storage wallet service; crypto investing only via ETFs.
Tax-advantaged account
Available (✅/❌)
Main Features
Wide selection: TFSA, RRSP, RESP, RRIF, LIRA, LIF, RDSP with tax benefits for Canadians.
Accepted base currencies
Available (✅/❌)
Main Features
CAD & USD available for all main account types; supports dual-currency trading.
A summary of account types available at TD Direct Investing.
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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

Is TD Direct Investing regulated in Canada?

Yes, TD Direct Investing is fully regulated in Canada by the Canadian Investment Regulatory Organization (CIRO), previously known as IIROC. This ensures compliance with Canadian financial industry standards. Client accounts are protected by the Canadian Investor Protection Fund (CIPF) in case of brokerage insolvency, providing additional security for investors.

What is the minimum deposit on TD Direct Investing?

There is no minimum deposit required to open most TD Direct Investing accounts. Certain registered accounts, such as RESPs or RRSPs, may require an initial contribution depending on the account type. This flexibility allows investors of all sizes to start trading or investing without a high financial barrier.

Does TD Direct Investing offer a welcome bonus?

TD Direct Investing does not offer a welcome bonus for new accounts at this time. Promotions or rewards are uncommon among Canadian bank-owned brokerage services. Instead, a platform focuses on providing comprehensive tools and market access to attract and retain clients.

How does leverage work on TD Direct Investing?

Leverage is available through margin accounts at TD Direct Investing. Retail investors can generally access up to 2:1 leverage on most Canadian and U.S. stocks, following CIRO guidelines. Careful risk management is advised, since leveraged trading can amplify both gains and losses.

How does TD Direct Investing make money?

TD Direct Investing earns revenue through trading commissions, service fees, margin interest, and currency conversion charges. Typical commissions are $9.99 per stock or ETF trade, and higher charges may apply for options or certain specialized transactions. There are no spreads or hidden fees for stock or ETF trades.

Who is behind TD Direct Investing?

TD Direct Investing is a division of TD Securities Inc., itself part of the Toronto-Dominion Bank Group (TD Bank Group), one of Canada’s largest and most established financial institutions. This backing provides a high level of trust and stability for Canadian investors.

When was TD Direct Investing launched?

TD Direct Investing’s services have evolved since the 1980s, when TD Bank began offering self-directed investment accounts. Its current form as a leading Canadian online brokerage has been in place for over two decades, adapting to digital trading trends and client demands.

Does TD Direct Investing offer copy trading or social trading?

No, TD Direct Investing does not offer copy trading or social trading features. The platform focuses instead on independent trading and self-directed investing, with robust research and educational resources to help investors build their own strategies.

How can I contact TD Direct Investing’s customer service?

You can reach TD Direct Investing’s customer support by phone, secure message via WebBroker, or by visiting a TD Bank branch. Phone support is available across Canada in multiple languages, typically operating from 7 am to 10 pm ET on weekdays. Weekend support covers technical assistance and account help.

Does TD Direct Investing offer any promotions or referral programs?

Currently, TD Direct Investing does not promote regular referral or cashback programs for its users. Special offers may appear occasionally, but they are not a consistent feature of TD Direct Investing’s business model compared to fintech brokers or some competitors.

Is TD Direct Investing regulated in Canada?

Yes, TD Direct Investing is fully regulated in Canada by the Canadian Investment Regulatory Organization (CIRO), previously known as IIROC. This ensures compliance with Canadian financial industry standards. Client accounts are protected by the Canadian Investor Protection Fund (CIPF) in case of brokerage insolvency, providing additional security for investors.

What is the minimum deposit on TD Direct Investing?

There is no minimum deposit required to open most TD Direct Investing accounts. Certain registered accounts, such as RESPs or RRSPs, may require an initial contribution depending on the account type. This flexibility allows investors of all sizes to start trading or investing without a high financial barrier.

Does TD Direct Investing offer a welcome bonus?

TD Direct Investing does not offer a welcome bonus for new accounts at this time. Promotions or rewards are uncommon among Canadian bank-owned brokerage services. Instead, a platform focuses on providing comprehensive tools and market access to attract and retain clients.

How does leverage work on TD Direct Investing?

Leverage is available through margin accounts at TD Direct Investing. Retail investors can generally access up to 2:1 leverage on most Canadian and U.S. stocks, following CIRO guidelines. Careful risk management is advised, since leveraged trading can amplify both gains and losses.

How does TD Direct Investing make money?

TD Direct Investing earns revenue through trading commissions, service fees, margin interest, and currency conversion charges. Typical commissions are $9.99 per stock or ETF trade, and higher charges may apply for options or certain specialized transactions. There are no spreads or hidden fees for stock or ETF trades.

Who is behind TD Direct Investing?

TD Direct Investing is a division of TD Securities Inc., itself part of the Toronto-Dominion Bank Group (TD Bank Group), one of Canada’s largest and most established financial institutions. This backing provides a high level of trust and stability for Canadian investors.

When was TD Direct Investing launched?

TD Direct Investing’s services have evolved since the 1980s, when TD Bank began offering self-directed investment accounts. Its current form as a leading Canadian online brokerage has been in place for over two decades, adapting to digital trading trends and client demands.

Does TD Direct Investing offer copy trading or social trading?

No, TD Direct Investing does not offer copy trading or social trading features. The platform focuses instead on independent trading and self-directed investing, with robust research and educational resources to help investors build their own strategies.

How can I contact TD Direct Investing’s customer service?

You can reach TD Direct Investing’s customer support by phone, secure message via WebBroker, or by visiting a TD Bank branch. Phone support is available across Canada in multiple languages, typically operating from 7 am to 10 pm ET on weekdays. Weekend support covers technical assistance and account help.

Does TD Direct Investing offer any promotions or referral programs?

Currently, TD Direct Investing does not promote regular referral or cashback programs for its users. Special offers may appear occasionally, but they are not a consistent feature of TD Direct Investing’s business model compared to fintech brokers or some competitors.

P. Laurore
P. Laurore
Finance expert
HelloSafe
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.

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