Canadian Online Brokerage Review – TD Direct Investing (TD Waterhouse)

[A Customer]

TD WebBroker Watchlist and Holdings pages displays bad data
Yet again, TD WebBroker is displaying garbage data in my WebBroker Watchlist and Holdings page:
Eg. it is 9:26am Aug.14/2019
Enbridge (ENB) closed at $45.48 yesterday, and it is now trading at $44.16/share. Therefore it is down $1.32/share, but my WebBroker account is displaying that it is -$0.58
THIS IS GARBAGE DATA!
I have reported this same problem many times over the past couple of years, but TD doesn’t seem to be able to fix this problem. How am I expected to rely on the data in my WebBroker account?
This problem never seemed to occur for the 10 years prior to a couple of years ago. Did they hire an IT manager who doesn’t know what he is doing?
Jeez, fix the problem, TD!

[Brock]

Pro: nice looking interface, multi-leg orders on US, Ink research (insider trading), Think or Swim available for US Margin Accounts

Con: poor website navigation, no multi-leg orders for Canadian ticker, only 2 leg orders for US, switched to Morningstar quant reports from CFRA, website instability – many, many bugs in coding, poor customer service when issues are escalated, incorrect options data, Advanced Dashboard is terrible (a high school kid could create a better platform), high fees, poor education offered, past activity limited to only 90 days.

[Kenneth]

After two decades of being TD Direct Investing customer, I moved my accounts to other brokerages, namely Interactive Brokers and Questrade.

Here are my reasons:
TD Direct Investing is way behind Interactive Brokers in terms of what they offer through their platform (Compare TD Advanced Dashboard with Interactive Brokers Traders Workstation)
TD Direct investing flat rate commission of $9.99 means I pay 10 times more to TD for buying or selling 100 shares than I pay Interactive Brokers (only $1) for same shares!!!
When it comes to Option trading: TD Direct investing charges around $42 for exercise or assignment of options and Interactive Brokers charges $0 for being assigned and very small amount for exercise.
Incompetence: The main reason for my switch was constant frustration dealing with incompetent TD Direct Investing employees and their operating system. Giving wrong answers to my questions, sending money to the wrong TD branch for customer to pick up, making mistakes in implementing my instructions, prolonging a simple process that should not take more than two weeks to months, etc.

Bottom line: Avoid TD Direct Investing if you are an average stocks/options trader with average investing knowledge and sophistication and you want to:
Save big on trade commissions and avoid frustration

[Don Piears]

I have shares bought through you but I cannot access your site. The only site I have been able to look at demands a log-in password, but previously I used to give parts of my password as requested.Also, the site doesn’t recognise my account user name. Please help.

[George]

Hi all,

Maybe someone can help me.

I just got into the pot stocks game 1 year ago. I started with $1,000

At the moment I am up $600. What would be the smart thing do with the $600 profit?

If I sell and take the profit, then I will have to buy again anyway, and at a higher price. Or should I sell, take the profit and buy additional shares with it? Or should I just leave the profit there and hopefully in 20 years my initial investment of $1,000 might become 10,000 or even more?

Thanks for your help. Much appreciated.

George

[Mary Edmondson]

Hi
I was attacked by employees from TDWaterhouse brokerage. I launched a terrific trading system there earning a systematic 50% return. I had a dream to trade and invent systems. It took me 30 years to do that in my spare time. I got brain injury and lead poisoning in my teaching job so it was very difficult for me. Electronic weapons were used. My system is Covenant Treaty property but women are not welcome even if we are a huge success. I did not get brain injury treatment because a false mental health fraud was created.All my work was taken. I do not recommend these criminals to anyone.
TD and Royal Bank use my work leaving me injured to die living in my car. RCMP and Apple helped them.
Merry Christmas Canada
Mary

[doug]

TD Direct has a “let them eat cake” attitude on dealing with clients. That’s if you can get them to answer the phone. They are egalitarian though, doesn’t matter if your accounts are $1.5 million or $25,000. You’re all treated the same indifferent way. My recent beef with them is on a late arriving, time sensitive, Corporate Action Notice. Arrived too late to even partake of the offer. Now we are left with a tax issue rather than the option to defer taxes with a take up of new shares. TD’s broker reply was “Take it up with Canada Post”. This is the 12st Century TD, everybody connects digitally & you even do it with your clients when logging in to our accounts. We are faced with adverts before accessing our accounts, so why not do the same with Corporate Action Notices, tailored to the individual accounts that will get to the client in a timely manner? Snail Mail is soooo much better, eh?
Have an issue you want to discuss with them? Phone only………wait…..wait some more. There is no address for service on any of their websites. Got mine from the late arriving Corporate Action Notice. US clients are treated better & I would suggest that your fees & charges are subsidizing better access for US clients over the home town ones. They don’t have to pay for Level 2 quotes. For them, it’s free. Used to be Presidents account holders had a different phone line to call & better access. Not today. Please wait a while.

Problem is it isn’t much better any where else, or marginally so & they all know it. It’s the Canadjian way. Yugo Service, one indifferent size fits all.

[Ed Ares]

After having brokerage accounts with National Bank, RBC, Scotia iTRADE and Disnat, I can say that TD Direct Investing is the best of all. I have never had any issues with their trading platform, no long wait times when I call them, their integration with TD Canada Trust allows for immediate transfers to and from the brokerage side, and the most important for me is their second to none market data and analysis.

[Harry]

Please be prepared for explaining your black balling of this Investment Manager, who had the temerity to rescind the allocation of a recent Convertible–done way inside the time interval provided for doing so, and whereby notification was issued via a ?”Resource Official, that no further expressions of an interest by the writer on behalf of the Family Company’s portfolios thereafter.
It isn’t Masrani that you will be explaining this matter to.
Take Care.
Harry.

[gerald turner]

TD Direct Investing are totally useless if you retire and move from Canada to the USA. Despite regulations that specifically allow for retirement accounts to be traded online through webroker, TD refuse to implement changes to allow this. Instead they make you call an 800 number and wait up to 45 minutes to place a trade. They are the absolute scum of the earth and use a made up excuse for this based on specific US state restrictions – even though the SEC rules exempt them from this. Their IT department must be a bunch of lazy morons – and their so called customer care group doesn’t have a frigging clue.

[Author]

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