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ONLINE BROKERAGE REVIEW

TD Direct Investing Review 2022

Updated December 14, 2021

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

3.2/5 (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?

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    Registered Accounts

    Non-Registered Accounts

Account Fees & Requirements for TD Direct Investing

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    Registered Accounts

    Non-Registered Accounts

Trading Commissions & Fees provided by TD Direct Investing

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TD Direct Investing Rankings & Reviews for 2022

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  • Sorry, no data is available.

How can I contact TD Direct Investing customer support?

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What do people think of TD Direct Investing?

Lindsay Chamber
LDChamber
6/20/2022
RT @TD_Canada: Want help making more informed investing choices? That’s what the TD Direct Investing Learning Centre is for. Check it out t…
FiveBrassMonkeys
CanadianInvestor
6/19/2022
What’s the 15k cut off for? Do you mean 15k cash in your TD direct investing account or at least 15k stocks or funds purchased in their account?
Guop
guopeter01
6/18/2022
RT @TD_Canada: Want help making more informed investing choices? That’s what the TD Direct Investing Learning Centre is for. Check it out t…
CapitalElderberry
CanadianInvestor
6/18/2022
I also have my son’s RDSP at TD Direct Investing. If you’re not going to use the money for 5 years or more, I’d find one or 2 good Canadian equity index Exchange Traded Fund (ETFs) with low Management Expense Ratios (MERs). I imagine your trading commissions will be pretty high so that’s why I’d only buy one or two. Some people may mention dollar cost averaging, but you’ll pay alot in commissions if you do that. I could be wrong but I think each purchase will cost you $25 in commissions, which is relatively expensive for a $7000 investment. So, only do 1 or 2. Direct Investing has a pretty good search function for ETFs, so I’d start there. Click on Research and then click on “Stocks and ETFs”. And then go from there. Don’t be afraid to ask a friend for help because it can feel pretty overwhelming at first.
bluenose777
PersonalFinanceCanada
6/17/2022
Yes you could use a TD Direct Investing account to purchase a portfolio of the TD e-series mutual funds. There are a couple of potential catches: 1/ Any quarter that your your account balance drops below $15k they will charge the $25 maintenance fee. But, if you set up a monthly contribution or automatic purchase of at least a $100 they will waive the fee. 2/ You will be purchasing 4 mutual funds and when their value strays from your target asset allocation you should rebalance them back to (or towards) the target. One easy way to do this is to sell all of the mutual fund units you have owned for more than 30 days (to avoid the short term trading fee) and use the proceeds to buy an asset allocation ETF. TD DI will charge about $10 for the purchase but if you only do this about once a year you will recoup the cost because of the lower MER of the ETFs. (Annual about $25 per $10k invested instead of about $40 per $10,000 invested.)