Independent broker review · Updated July 27, 2026
TD Direct Investing: bank-owned broker with the widest asset range of the Big Five? My 2026 review
The self-directed broker of a Big Five bank with the widest asset range of the group, but commissions among the highest in Canada.
Our take
My take on TD Direct Investing
TD Direct Investing is the self-directed brokerage arm of TD Bank Group, one of Canada's Big Five banks. Its strength is breadth: more than 7,000 stocks across Canadian, US and international markets, over 1,000 ETFs, plus mutual funds, bonds and options, all inside registered accounts. The Advanced Dashboard platform is genuinely capable for a bank-owned tool.
We list TD Direct Investing as a reference review, not as a HelloBrokers partner: there is no affiliate link on this page. It is a solid, well-regulated Canadian option, especially for existing TD customers, but the $9.99 commission is among the highest on the market and there is no demo account or direct crypto.
“The widest asset range of the Big Five, paired with commissions among the highest in Canada. ”
— Roch de Montesquieu, Research Analyst · Fees, Data, Transparency
Why trust HelloBrokers?
This review is not a copy-paste of TD Direct Investing's marketing page. We tested the platforms, modelled the cost of a typical trade down to the pip, and benchmarked TD Direct Investing against the 4 brokers in our comparison. A broker is judged on verifiable figures, not marketing promises.
The essentials
TD Direct Investing at a glance
Key characteristics, verified on July 27, 2026.
Safety & regulation
Is your money safe?
TD Direct Investing operates under TD Bank Group and is a CIRO-registered investment dealer. Client assets are covered by the Canadian Investor Protection Fund (CIPF) up to $1,000,000 per account category, under the CSA framework including the AMF in Quebec. For a Canadian investor this is a reassuring setup: a Big Five bank with domestic oversight and CIPF coverage. The reservations are about cost and the ageing feel of parts of the experience, not about safety.
🔒 HelloBrokers safety score: 4.7 / 5
Fees & spreads
What does it really cost?
Pricing is where TD Direct Investing loses ground. Stocks and ETFs cost $9.99 per order, falling to $7 only for active traders, and options add $1.25 per contract. There is no opening or withdrawal fee, but a $25 quarterly inactivity fee applies when the balance is under $15,000, excluding registered accounts.
There is no minimum deposit, which helps a beginner get started, but currency conversion on US trades carries a spread of around 1.5%. For anyone trading frequently, the $9.99 base commission adds up quickly against zero-commission competitors.
Instruments & markets covered
Instruments & markets covered
Breadth is the headline. TD Direct Investing lists more than 7,000 stocks across Canadian, US and international markets, over 1,000 ETFs, plus mutual funds, bonds, options and structured products. Crypto exposure is available only indirectly through ETFs; there is no direct crypto, forex or CFD trading.
Everything sits inside registered accounts (RRSP, TFSA, RESP), and the Advanced Dashboard gives active investors real technical and fundamental analysis tools. It is a platform for traditional investing done thoroughly rather than for derivatives or crypto.
What TD Direct Investing offers
Capabilities, in plain terms
Covered, partial or not covered. No spin.
- Registered accounts (RRSP, TFSA, RESP) ✓ Yes
- Canadian, US & international stocks ✓ Yes 7,000+ stocks
- ETFs ✓ Yes 1,000+
- Mutual funds and bonds ✓ Yes
- Options ✓ Yes
- Forex / CFDs ✗ No
- Spot cryptocurrencies ✗ No Crypto ETFs only
- Demo account ✗ No
Comparison
TD Direct Investing vs the alternatives
The right choice depends on your profile. Here is how TD Direct Investing stands against the brokers we feature.
① The HelloBrokers ranking
overall score /5 · click to read the review
The verdict
The verdict
TD Direct Investing is a solid, well-regulated Canadian broker with the widest asset range of the Big Five and a capable Advanced Dashboard. For a long-term investor already inside the TD ecosystem, it is a dependable choice.
It is not our pick for cost-sensitive or very active traders: the $9.99 commission is among the highest in Canada, there is no demo account and no direct crypto. We list it as a reference review with no affiliate link. A Canadian focused on fees will find Questrade cheaper, with free ETF buying.
Our recommended alternatives
Our recommended alternatives
For most retail investors, these partner brokers are a better fit.
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Free ETF buying and lower stock commissions for a cost-conscious Canadian investor.
See Questrade → -
Commission-free US stocks and ETFs plus a free demo account for an active trader.
See moomoo →
Frequently asked questions
FAQ TD Direct Investing
Is TD Direct Investing reliable?
Yes. TD Direct Investing is the self-directed brokerage of TD Bank Group, a member of CIRO and covered by the Canadian Investor Protection Fund (CIPF) up to $1,000,000 per account category.
Why choose TD Direct Investing?
For the widest asset range of the Big Five: 7,000+ stocks, 1,000+ ETFs, mutual funds, bonds and options, plus a capable Advanced Dashboard platform.
What are the fees at TD Direct Investing?
Stocks and ETFs cost $9.99 per trade ($7 for active traders), options $9.99 plus $1.25 per contract. A $25 quarterly inactivity fee applies under conditions, but there is no opening or withdrawal fee.
Who is TD Direct Investing for?
Long-term Canadian investors, particularly existing TD customers, who want breadth and a capable platform. Cost-sensitive traders will find cheaper alternatives.
Is it easy to withdraw from TD Direct Investing?
Yes. Standard electronic withdrawals are free, and there is no minimum deposit to open an account.
The author of this review
Who wrote this analysis?