Online brokerage
TD Direct Investing Review: CIRO-Registered, Fees & Platforms
By ForexCanada Editorial Team · Updated
Canada check
- Canadian status
- CIRO-registered
- Canadian entity
- TD Waterhouse Canada Inc.
- CIPF coverage
- Yes (eligible accounts, within CIPF limits)
- OBSI complaints
- Yes — free, independent dispute resolution
- Accepts Canadians
- Accepts Canadian residents
- Licences abroad
- —
- Founded
- 1984
- Headquarters
- Toronto, ON
- Ownership
- Toronto-Dominion Bank (TSX: TD)
Our take on TD Direct Investing
TD Direct Investing is Canada's largest bank-owned discount brokerage and ranked first overall in MoneySense's 2026 review, thanks to its research, education and the Advanced Dashboard trading platform. Integration with TD banking makes funding instant for existing customers. The weakness is price: standard commissions of $9.99 per trade are high compared with $0-commission rivals, although the separate TD Easy Trade app offers a set number of commission-free trades each year for simpler investors.
Verdict
Worth the commissions if you use the research and trading tools. Otherwise, cheaper options exist.
What we like
- +Excellent research and education
- +Advanced Dashboard for active traders
- +Seamless TD banking integration
- +Full range of registered accounts
Watch out for
- −$9.99 standard commissions
- −Two separate apps can be confusing
- −No forex or CFDs
How TD Direct Investing scores
Canadian protection carries 40% of the weight, so an unregistered firm can't outrank a registered one on price alone. See the full methodology.
Accounts, markets & platforms
- Platforms
- Proprietary web, Proprietary desktop, Mobile app
- Markets
- Stocks · ETFs · Options · Bonds · Mutual funds
- Pricing
- $9.99 per online stock trade; options $9.99 + $1.25/contract; TD Easy Trade app includes a yearly allotment of free trades
- CAD / USD accounts
- ✓ CAD | ✓ USD
- Registered accounts
- TFSA, RRSP, FHSA, RESP, RRIF, LIRA, Spousal RRSP
- Demo account
- Not advertised
- French service
- Yes
Figures are taken from the broker's own disclosures at our last review (2026-09) and change often — always confirm on the broker's website. Spot an error? Tell us.
Verify TD Direct Investing yourself
- Look for the firm on CIRO's list of dealers it regulates.
- Search the legal entity name in the CSA National Registration Search and check it is registered in your province.
- Confirm CIPF membership in the CIPF member directory.
- Search the CSA investor alerts for the brand name and any look-alike websites.
- Make sure the account agreement you sign names the same legal entity — not an offshore affiliate.
TD Direct Investing: frequently asked questions
Is TD Direct Investing regulated in Canada?
Yes. Canadian clients are served by TD Waterhouse Canada Inc., a registered investment dealer and member of the Canadian Investment Regulatory Organization (CIRO). You can confirm this on CIRO's list of dealers it regulates and in the CSA National Registration Search.
Is my money protected with TD Direct Investing?
Eligible accounts at CIRO dealer members are covered by the Canadian Investor Protection Fund (CIPF) if the firm becomes insolvent — generally up to $1 million per account category. CIPF does not cover trading losses.
Can I open a TFSA or RRSP with TD Direct Investing?
Yes. TD Direct Investing offers TFSA, RRSP, FHSA, RESP, RRIF, LIRA, Spousal RRSP accounts. Note that leveraged forex and CFDs can't be held in registered accounts.
Canadian trader reviews
Reviews are submitted by readers and moderated by our editors for relevance and abuse. They are opinions, not verified facts, and never affect our score.
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