TD Direct Investing Review 2022

Updated December 14, 2021

Quick Info

  • Standard Equity Commission
  • Best Commission Price
  • Minimum to Open Account
    Not Required
  • Maintenance/Inactivity Fees
  • Commission-free ETF Trading
  • Young Investor Offer


3.5/5 (4)

TD Direct Investing (formerly known as TD Waterhouse Discount Brokerage) is one of Canada’s largest discount brokerages. As a bank-owned online brokerage, it is able to offer clients the ability to manage multiple accounts (including personal banking) and products via the TD online platform. What makes TD Direct Investing stand out relative to most of their bank-owned peers are the amount of education they provide and their diverse set of trading platforms. Specifically, TD Direct Investing offers web-based and desktop platforms for active traders as well as longer-term investors, with the more recent addition of a mobile trading app.

TD Direct Investing Full Review

What Account Types does TD Direct Investing offer?


    Registered Accounts

    Non-Registered Accounts

Account Fees & Requirements for TD Direct Investing


    Registered Accounts

    Non-Registered Accounts

Trading Commissions & Fees provided by TD Direct Investing


TD Direct Investing Rankings & Reviews for 2022

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What do people think of TD Direct Investing?

Thanks... but... well, I would rather keep my investments at TD Direct Investing or even WealthSimple 😆
This. Low fees = quest trade, convenience = investors edge, and easy to use platform = TD Direct Investing. Personally I like TD Direct Investing & RBC Direct Investing over Quest Trade, Investors Edge, and many others...
Brokerage investment savings accounts pay decent interest with no need to lock into GIC. TD direct investing paying 2.9% for CAD and 2.2% for USD, paid out monthly like a savings account.
If you're just getting started on your financial journey, I'd open up a Wealthsimple account. They're a Canada-based "robo-investor" that invests in entire market funds that basically track the economy for you. Follow their account creation wizard and it will advise you to max out your TFSA contributions, then put the rest in a taxable account. Go with the defaults they recommend for a riskier/high growth mix of funds. Then forget about it for 10 years, other than contributing what you can each year, always to the TFSA up to your yearly limit (6k, I think?) Fine print: Using a company like Wealthsimple will charge a fee, \~0.5% of your accounts, to manage it for you. If you're comfortable setting up your accounts with Vanguard, or TD Direct Investing, or whoever, then go for it, but Wealthsimple will get you on a good path with a minimum of effort. I don't work for them or have any interest, just think they offer a good service.
Same except I did TD direct investing- you can open an account in a branch under your own account. Relatively easy to transfer money in. The only fee is $9.99 trade and I buy ETFs. There are probably options for cheaper trading out there but i don’t really touch it, just once annually.