These days, investors have more options when it comes to investing and trading. Today, there are online trading platforms available that provide investors with direct access to trading platforms, and TD Direct Investing is among them.
TD Direct Investing is offered by TD Bank, one of Canada’s “Big Five” banks that offers a myriad of banking products and services. Previously known as TD Waterhouse Discount Brokerage, TD Direct Investing is one of the largest discount brokerages in Canada.
This platform combines state-of-the-art technology and a slew of educational resources and tools to help you make better investment decisions. It promises lower fees than your average investment broker and lets you actively manage your investments all online.
Investors have the option to trade on their own as a self-directed investor or work with a TD Wealth advisor to reach investment goals. The route you choose will depend on your comfort level and experience.
Let’s take a closer look at TD Direct Investing to help you determine if this trading platform is suitable for your investment needs.
How Does TD Direct Investing Work?
After you’ve signed up for an account, provided proof of identity, and loaded your account with funds, you can begin trading.
TD Direct Investing operates through the TD WebBroker platform that is easy to use and is suitable even for novice investors. Otherwise, there are resources available in both print and video formats to help you get familiar with the platform before you start trading. Once you’re comfortable with the platform, you can start executing trades.
You’ll have options in terms of the exact trading platform you’d like to trade on, including desktop or mobile. You can choose whichever platform you’re most comfortable with and one that best suits your trading style.
Important Features To Consider When Choosing To Work With TD Direct Investing
There are a few key features of TD Direct Investing that you’ll want to get familiar with before you begin trading on this platform:
Easy-To-Use Dashboard
TD Direct Investing’s platform features straightforward visuals that make it easy to navigate and use.
Customizable News Events
Quickly scope out all market updates that are relative to the companies that you currently hold investments with.
Real-Time Data
Make quick yet informative trading decisions with real-time market data.
Gains vs. Loss Chart
Easily handle the tax-loss harvesting tactics that you may want to employ come tax time. Export your charts to a spreadsheet for easier viewing.
Tracking Graphs And Visuals
Keep tabs on your investment performance over time to see how they are doing against different indexes.
Educational Resources
TD Direct Investing comes with a number of learning tools, such as live webinars and videos, which range from the basics to more advanced learning materials.
Analyst Research Reports
Dedicated investment professionals are on hand to provide you with objective insight into your investments.
Specialized Charting Tools
Map out your prospective earnings using several charting tools.
Practice Account
Simulate an actual trade without using real money to get a feel for the process.
Mobile App
Stay on top of your investment portfolio and trade on the go with the TD Direct Investing mobile app.
Account Types Available With TD Direct Investing
TD Direct Investing offers several account types to add to your investment portfolio, including the following:
- Equities
- Options
- Mutual funds
- Bonds
- New issues
- TFSAs
- RRSPs
- RESPs
- RDSPs
- RIFs
- Cash accounts
- Margin accounts
How Much Does It Cost To Invest With TD Direct Investing?
| Stocks | – $9.99 flat rate – $7.00 for active traders |
| Options | – $9.99 + $1.25 per contract – $7.00 + $1.25 per contract for active traders |
| Mutual funds | Free |
| IPOs | Free |
| New Issues | Free |
What Perks Does TD Direct Investing Have?
There are several reasons why you want to add TD Direct Investing to your shortlist of online trading platforms:
- Quick and easy application process. Opening an account and getting approved with TD Direct Investing is as easy as it gets. Simply answer a few questions and start trading as soon as your account is funded adequately.
- Variety of account types to choose from. Choose from a number of account types that best suit your trading style and diversify your investment portfolio.
- Educational resources. Whether you’re new to investing or have years of experience under your belt, there’s a learning tool available to help you get started or better your game.
- Various trading platforms to trade on. Whether you prefer web-based or like the idea of trading on the fly through your mobile device, TD Direct Investing has a different trading platform you can use to invest.
- Real-time trading data. Make the most informed decision thanks to up-to-the-minute, real-time data.
- Practice before trading. With the practice account, you can trade without using real money so you can get comfortable with trading using the TD Direct Investing platform.
- Excellent customer service. Gain access to TD’s customer support representatives whenever you have a question.
Who Is TD Direct Investing Best Suited For?
TD Direct Investing is perfect for both novice and experienced investors and offers various options to suit those who are on either end of the spectrum. Trading online via TD Direct Investing is especially suitable for those who are comfortable trading virtually and like the idea of managing their own investment portfolios, though there is still the option to get some assistance along the way as required.
Overview Of TD Direct Investing
| Fees | $7.00 – $9.99 (for stocks and options) |
| Minimum balance | $0 |
| Investing advice | Yes |
| Account types | – Equities – Options – Mutual funds – Bonds – New issues – TFSAs – RRSPs – RESPs – RDSPs – RIFs – Cash accounts – Margin accounts |
| Inactivity fee | $25 per quarter |
| Currencies supported | CAD and US |
| Practice account | Yes |
| Real-time quotes | Yes |
| Screening tools | Yes |
| Market news | Yes |
| Expert customer support | Yes |
Is TD Direct Investing Safe?
You won’t have to worry about your money or your trades with TD Direct Investing. As a platform owned by one of Canada’s Big Five banks, you can rest assured knowing that your money is secure in your account.
Plus, your trades are safe thanks to TD Direct Investing’s implementation of several safeguards that keep your personal information and account safe. So you don’t have to worry about anyone peering into your personal information or investment activity.
Final Thoughts
TD Direct Investing offers a user-friendly trading platform that allows investors to fully customize their experience and needs. Suitable for both beginners and veterans in trading, TD Direct Investing allows for online self-directed trades and provides a wealth of educational materials and tools to ensure that the investment decisions you make are the best possible ones.
Plus, you can fiddle around with the practice account to get comfortable with trading on this particular platform and prep yourself for the real thing.
