INDEX

>

ONLINE BROKERAGE REVIEW

TD Direct Investing Review 2023

Updated December 13, 2022

Quick Info

  • Standard Equity Commission
    $9.99
  • Best Commission Price
    $7
  • Minimum to Open Account
    Not Required
  • Maintenance/Inactivity Fees
    $25/Quarter
  • Commission-free ETF Trading
    No
  • Young Investor Offer
    No

HIGHLIGHTS

4.2/5 (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 2023

+
  • Sorry, no data is available.

How can I contact TD Direct Investing customer support?

+

TD Direct Investing Downtime Report

TD Direct Investing down? Submit an incident report using our exclusive online brokerage outage tracker and view reported incidents from other users.

Click here to view current TD Direct Investing Downtime Report

What do people think of TD Direct Investing?

cknott17
PersonalFinanceCanada
2/7/2023
I just opened a self directed account. It can be purchased through TD direct investing like any other stock or etf.
Oh_That_Mystery
PersonalFinanceCanada
2/7/2023
I stand corrected, I just entered an order to test it and got the following message: This symbol is not eligible for trading online. For assistance, please call TD Direct Investing at 1-800-465-5463 or TD Easy Trade at 1-877-250-2588. [44221]
danw171717
PersonalFinanceCanada
2/6/2023
If you want to stay with TD, open a TD Direct Investing account. You can get a HISA through the mutual fund buy/sell tool (even though those are indeed savings account, CDIC protected, and not a mutual fund) TDB8150, TDB8155, TDB8157 or TDB8159. 4.05% each of the previous number is from a different subsidiary of TD and separately qualifies for CDIC insurance.
danw171717
PersonalFinanceCanada
2/6/2023
No, those rates are for direct purchases, as they don't have to pay a brokers commission on those... If you look at the GIC rate sheet on TD Direct Investing, ("Trading" then "GICs" under Buy/Sell) you'll see that the highest rate is 4.86% for a one-year GIC issued by Fairstone Bank, then you have 4.85% for TD and TD subsidiaries (TD BK, TD MTG, TD PAC MTG and CDA TR), Equitable Bank, and HSBC Trust Co. Assuming you have no other deposits with those institutions, you could plop 95k in each and have full CDIC coverage (I say 95k and not 100k, because the 100k limit is for the total, including interest). And yes, each of the TD entities count as a separate institution for CDIC purposes.
danw171717
PersonalFinanceCanada
2/6/2023
CIPF guarantees that the instrument held won't disappear from your account, but not the value of the underlying instrument. So let's use your TD Direct Investing (trade name of TD Waterhouse Canada) example, if you purchase a GIC issued by the Toronto Dominion Bank in your TD Direct Investing Acct, CIPF would protect you in the case that TD Waterhouse Canada becomes insolvent and somehow "loses" your GIC. CDIC protects you in case that the Toronto Dominion Bank becomes insolvent and can't repay your deposit.