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

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This topic contains 57 replies, has 3 voices, and was last updated by  Ron O 1 month, 3 weeks ago.

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  • #21555 Reply


    Thanks all for your notes,

    I have a saving account with TD, and today I wanted to open an account with TD direct investing. I am glad to read your reviews. I never do that. I dont want waste my time and money. I go with another broker definitively.

    #21164 Reply

    subir ranjan Kundu

    Subir Ranjan Kundu
    Toronto, ON

    19th July,2017

    TheClient Complaint Resolution Team
    TD Wealth and TD Direst Investing
    P.O. Box 5999, Station F
    Toronto, ON M4Y 2T1

    Dear Sir,
    I am a TD webbroker account holder and my TD investment account number is xxxxxxx and xxxxxxx. Right now I am out side of Canada. But before coming outside of the country, I have already discussed the issue with TD webbroker client services in the month of May,2017. Last time I have been charged $28.25 but I have been told that if I would maintain sufficient amount of cash in the TD saving account, I would not be charged this quarterly service charge. but I have been charged again and again. In the month of May @28.25 has been reimbursed, charged in the previous cycle but it has been charged again I noticed in 19th July,2017. I tried to close the investment account due to inability to do any investment due to my poor financial situation. But every time, I have been given some excuse that it would take time. As per discussion between the TD webbroker customer service authorities/manager could you reimburse the amount $28.25 to me, please.please let me inform if the matter remained unresolved.

    I would not make any ISD call due to my financial reason. If you have any toll free number please let me know.

    Subir Ranjan Kundu

    • This reply was modified 2 years, 1 month ago by  Ken Y.
    #20433 Reply

    elsie warkentin

    For many years I have electronically transferred funds from a non-TD account to my brokerage account. Today I decided to reverse the process and move money from my brokerage account to my non-TD bank account. I could not find a way to do this so I telephoned customer service. After directing me to try several methods online she realized that I had never been set up to do this. She referred me to a local TD branch. At the local bank, they insisted that I have a TD account. They insisted that I open an account or no money could be taken from my portfolio with TD Waterhouse. I drove to the local library and quickly found the ‘Electronic Funds Transfer Service Form’. On the form it clearly states “Fax must originate from a TD CT branch or TD Direct Investing office, faxes from other locations will not be accepted.” I drove back to the TD bank. I tried to convince them that they needed to fax the completed form. It took more than an hour and 3 different people to convince them to fax the form to the number on the form. I should have expected the lack of knowledge and unwillingness as I had issues when opening the account and again when transferring money into the account.

    #19628 Reply


    TD webbroker has nice interface etc. But their new strategy order sucks .. and most of the time while we have securities available their website returns that securities are not available. When i phone them they are able to do it .. Getting hold of them is a trouble also … as their phone lines are always busy for 20 mins atleast .. i wish they could care more about customers and try to resolve problems related to orders modifications …

    #19583 Reply


    TD direct investing customer service is really bad. The Online experience is OK – its easy to buy and sell if you don’t have to talk to anyone. If you have to speak with a real person you are pretty much guaranteed poor service. I’d recommend anyone else – I use BMOinvestorline and found them good – TD Direct Investing and local branch staff has never proven competent or reliable.

    In my own case I was directed to the local branch to set up 4 different accounts, the poorly trained branch staff were clueless and unable after 2 visits to set up a basic account, I finally went to a downtown branch and found someone who could complete this simple task.

    A decade later, when I tried to close out 3 trust accounts and transfer the money to the beneficiaries I was again directed to the local branch. Again local branch staff did not know how to do this basic task. Four calls to the web-broker and 2 months later they still seem unable to complete this simple task.

    The only thing I found consistent with this broker of the years has been poor service and incompetence.

    Beware go elsewhere

    #19506 Reply

    Bori Leng

    Please DO NOT trade with TD platform Advanced Dashboard.
    This platform needs to rename to “Advanced Crappy, shi**y, shi**y Dashboard”

    Here are the situations I have encounterred:
    After submitting the buy order, there is a message “Awating review”. It takes up to 5 minutes before the order starts to be active. Momentum is a paramount to get in the stock. I ended up pay more.
    When I sold the stock, the shitty message displayed “Awating review”. And I had to sell lower price.
    Worse than that, when I tried to to sell my Nasdaq stock BMY, I got the message “Pending”.

    I cannot adjust my stop loss after 5:00 pm ET.

    So, do not use this platform, you will lose money.

    • This reply was modified 2 years, 11 months ago by  Ken Y.
    #19459 Reply


    I have transferred rrsp and tfsa to Td recently, and had odd lots of bond holdings that I want to sell.
    After calling the TD direct investing line twice, e-mails to customer client and complaining, they cannot sell odd lot of bonds. Their answer was to transfer back these bonds to previous institution and then transfer back to TD account.
    Really, can you imagine for a bank that size not being able to accommodate such a insignificant transaction.

    Customer service is really bad.

    #19373 Reply

    andras ungar

    I have been trying to get in touch with a broker for three days now. I must have listened to automatic messages and music for an our and a half… and I am still trying.

    I now have the music on a speaker and I do intend to wait it out — because I need to get in touch with TD Waterhouse before the end of the year. I have never encountered service like this anywhere.

    #19327 Reply


    New Webbroker:

    -Crashes/closes when I am in the middle of something
    -Watchlist – Does not display full volume traded (it says High/Low/Moderate/etc…not at all helpful)
    -Menu has changed so that multiple extra clicks are needed to view anything
    -Watch list says the stock is at one price and then in order entry the stock is a completely different price…It simply is not accurate. Posting apologies on their login page is not enough to make up for inaccurate quotes – FAIL.

    The list goes on and on, I am 99% dissatisfied and after being with TDWebroker for 25+ years, I am ready to go to CIBC, not only for a better trading platform but CIBC’s commissions are lower too!! TD’s new Webbroker is a complete fail.

    #19211 Reply


    I’ve had it with TD Webbroker. Constant outages – have been kicked out with “technical difficulties” 4 times in the past several days. Frequently not working in the evenings or one weekends – or won’t pullup option info correctly. The last straw was getting a margin call this past week where they sold one of my long time holdings. There was no attempt whatsoever to contact me. On top of this, their margin computations are screwed up – I have a call option now that expires in 15 days and is $100 out of the money and shows up on my list of holdings as being worth $9.80 and me being several $thousand underwater on the position when the bid ask is actually 0$/$1.00 and it hasn’t traded for weeks, for obvious reasons. I have no trust in their margin computations.
    When I called to complain about the margin call I was told that someone would call me to discuss it within 2 days – 2 weeks later I haven’t heard back from them so am switching to Interactive Brokers.
    The people at the branches are worse than useless – it took me months to get setup to trade options on my account after numerous visits to a local branch and several phone calls – at one point the branch told me that my documents had not been sent to head office due to an “error” with the fax machine – pull the other one folks.
    Color me extremely dissatisfied.

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