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TD Direct Investing
We've been named Canada's top digital brokerage for a reason1. With TD Direct Investing, you'll find we have the tools, resources, and analyst insights to help take your investing abilities to the next level, whether you're an active trader or just getting started.
Why investors choose us
Different platforms for different investors
Whether you're looking to accelerate your investing skills or want to take it slow, we have just the platform to suit your needs
Accounts and Investment Types
It's essential to understand your options before you start investing, which is why we offer a broad range of products and account types to suit your needs and goals.
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Accounts
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Investment Types
Didn't find an account that suits you?
Interested in other types of investments?
Clear and simple pricing
Trade commissions vary by trade activity. You're a standard trader if you make less than 150 trades per quarter or an active trader if you make over 150 trades per quarter.
What you get with your account
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Real-time market data and quotes for the Canadian and US markets
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Commission-free mutual fund trades4
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Exclusive research reports
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Educational resources available online and on demand
Make the next move
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1
Open an account
Choose the account that's right for you and follow the steps to set it up.
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2
Make your first deposit
Deposit money from any bank account to start trading in Canadian and US markets.
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3
Choose how you want to invest
Get started using the TD App or WebBroker, or consider more advanced platforms, like Advanced Dashboard and thinkorswim, depending on your needs.
Switch to TD and we'll cover your transfer fees.5
Open a new TD Direct Investing account and you could be reimbursed for any fees—up to $150—when you transfer funds from another brokerage.
To get started, call our licensed representatives – Monday to Friday 7 am to 9 pm ET at 1-800-465-5463.
Pick your path
Additional resources
Open an account online – it's fast and easy
Get started with Canada's largest online brokerage today.6 Whether you're new to self-directed investing or an experienced trader, we welcome you.
View the TD Waterhouse Canada Inc. (TDWCI) Best Execution and Fair Pricing Client Disclosure Document to learn how TDWCI seeks to provide best execution and fair pricing for client orders.
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1Rated top digital broker by Rob Carrick, The Globe and Mail, as of February 9, 2023
2Refers to the TD Waterhouse Self-Directed RSP
3 Annual contribution limit for 2023 is $6,500. Annual contribution limit from 2019 to 2022 was $6,000. Annual contribution limit from 2016 to 2018 was $5,500. Annual contribution limit for 2015 was $10,000. Annual contribution limit from 2013 to 2014 was $5,500. Annual contribution limit from 2009 to 2012 was $5,000. Annual TFSA limit subject to change by the federal government..
4 Short-Term Redemption Fee Policy Funds held for less than 30 days are subject to a short-term redemption fee of 1% of redemption value or $45 (whichever is greater) and are in addition to any fee(s) the mutual fund company itself may charge.
5 This offer is applicable to any new or existing client who opens a new TD Direct Investing account and transfers $25,000 or more in assets to the new account from another financial institution.
6Based on assets under administration and trading volume of Online/Discount Brokerage firms in Canada as reported by Investor Economics in the “Online/Discount Brokerage Market Share Report" for the quarter ending March 31, 2023.
To qualify, a client must provide evidence of transfer expenses charged by the outgoing financial institution in an account statement that shows the transfer charge. Reimbursement for a transfer that qualifies will be deposited into the new account in the calendar month following completion of the transfer process. Each client is eligible to be reimbursed to a maximum of $150 for each eligible transfer for up to four transfers. A client is defined as a person or people with a grouping of accounts with the same 6-digit identifier, which can be found on account statements.
There may be tax implications associated with the reimbursement. Clients should consult with their personal tax advisor for more information. For registered plans, the amounts reimbursed are paid directly to the plan and are not considered a contribution to an RSP, RESP, TFSA, or RIF.
All account types qualify for this offer other than locked-in registered accounts and RDSP accounts which are not eligible for this offer.
The reimbursement will be paid in Canadian dollars to the qualifying account(s).
This offer may be changed or withdrawn at any time without notice.
TD Wealth Commitment to Accessibility and Multi-Year Accessibility Plan
This Commitment to Accessibility and Multi-Year Accessibility Plan applies to TD Waterhouse Private Investment Counsel Inc. and TD Waterhouse Canada Inc., including its divisions, TD Direct Investing (including TD Easy Trade, which is a service of TD Direct Investing), TD Wealth Financial Planning (including TD Wealth Advice Connect which is a service of TD Wealth Financial Planning) and TD Wealth Private Investment Advice (collectively, "TD Wealth").
Commitment to Accessibility
TD Wealth is committed to ensuring that every employee and client receives equitable treatment with respect to employment and services, without discrimination, and receives accommodation where required.
Through progressive policies, communication and training, accommodation measures and recruitment practices, TD Wealth strives to provide a fully inclusive, barrier-free environment.
TD Wealth is dedicated to creating a welcoming, fair, and inclusive environment for TD Wealth clients and employees and complying with legal and regulatory requirements.
Our commitment and the TD Wealth Accessibility Policy is aligned with the TD Accessibility Policy (Canada) which includes the following commitments:
TD is committed to meeting the accessibility needs of persons with disabilities in a timely manner. TD goods, services, facilities, employment, accommodation, buildings, structures of premises will be made accessible to meet the needs of persons with disabilities:
- TD will accommodate the accessibility needs of employees in the workplace and applicants with disabilities in its recruitment processes.
- TD will provide training on accessibility in the workplace and with respect to providing products, services, and facilities to persons with disabilities.
- TD will design and provide products, services, and facilities to meet the accessibility needs of persons with disabilities.
Additional information is available on the TD Accessibility page
TD Wealth Multi-year Accessibility Plan 2020-2025
TD Wealth has established a multi-year accessibility plan ("the Plan") which outlines our strategy to prevent and remove barriers to meeting the accessibility needs of people with disabilities. The Plan will be reviewed and updated at least once every five years.
The Plan is available in an accessible format upon request.
Accessibility Policies
Diversity and inclusiveness play a big part in TD Wealth's corporate responsibility model. TD Wealth is committed to be a welcoming place for all our clients and employees. Although TD Wealth has implemented policies and processes relating to accessibility for our clients and employees, we are committed to reviewing these policies and enhancing them as our reality changes.
The TD Wealth Accessibility Policy is available in an accessible format upon request.
Communicating with our clients
TD Wealth is committed to communicating with people with disabilities in ways that consider their disability. TD Wealth will implement accessibility requirements under the information and communication standards to ensure that information and communication systems and platforms are accessible and are provided in an accessible format that meet the needs of persons with disabilities.
Assistive Devices
We are committed to serving people with disabilities who use assistive devices to obtain or use our products and services.
We will ensure that employees know what assistive devices are available and how to access information about assistive technologies.
Use of service animals and support persons
People with disabilities may bring a service animal onto public TD Wealth premises. TD Wealth will provide training for all employees, contractors, volunteers, and others who represent TD Wealth regarding how to interact with people with disabilities who are accompanied by a service animal.
Any person with a disability who is accompanied by a support person will be allowed to enter TD Wealth premises that are open to the public with their support person. At no time will a person with a disability be prevented from accessing their support person while on TD Wealth premises.
In situations where TD Wealth has obligations under privacy laws or has issues of confidentiality, a support person may be requested to agree to the requirements of service just as the person with a disability does.
When support persons are required (e.g., sign language interpreters, attendants) for meetings, consultations, or other events, we will work together with the person with the disability to meet their needs.
Feedback process
We welcome feedback on how we're doing in the delivery of our products and services from all clients.
TD Wealth will use our standard feedback processes to receive feedback under the TD Wealth Accessibility Policy. To provide feedback please call 1-800-831-1158 or TTY 1-800-361-1180, Monday to Friday from 8am to 8pm (ET) or email customer.service@td.com or td.waterhouse@td.com
Feedback/responses will be in a format that is accessible to the client.
Accessible Formats
TD Wealth is committed to providing clients with the choice of document format that best suits the client's needs.
On request, clients can receive documentation in formats designed for the visually impaired. These alternative formats include, but are not limited to, Braille, Large Format and Audio Recording.
TD Wealth will record the format preference and send future documentation or communication in the format desired on a best effort basis.
Accessible Websites and Web Content
TD Wealth will make websites accessible to people with disabilities by conforming to international standards for website accessibility, the World Wide Web Consortium Web Content Accessibility Guidelines (WCAG).
TD Wealth websites and content on those sites will be compliant with the expectations and timelines under the Accessibility for Ontarians with Disabilities Act, 2005 and associated regulations.
Temporary disruptions
In the event of a planned or unexpected disruption in facilities or services, we will provide information about the reason for the disruption, how long it is expected to last, and a description of any alternative facilities or services available (where applicable).
Training
TD Wealth will provide accessibility training focused on the provision of products and services to our clients.
Training will also be provided to employees involved in the development of policies, practices, and procedures regarding the provision of products and services.
Training will be provided to each person as soon as possible after they are assigned applicable duties.
Comparing Margin and Cash accounts
Stocks |
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Mutual funds |
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ETFs |
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Options |
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Fixed income |
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Buy securities using leverage |
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Short selling |
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thinkorswim |
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Comparing TFSA and RSP
Whether you're saving for retirement, homeownership or education, both RSPs and TFSAs may be a good option.
Tax Free Savings Account (TFSA) |
Registered Retirement Savings Plan (RSP)
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Primary purpose |
Investing for any goal |
Retirement |
Annual contribution limit |
$6,500 for the 2023 calendar year, PLUS amounts accumulated or withdrawn in previous years |
18% of previous year’s earned income (maximum limits apply), less pension adjustments |
Contributions |
Not tax-deductible |
Tax-deductible |
Unused contribution room |
Carried forward |
Carried forward |
Growth |
Tax-free |
Tax-deferred |
Withdrawals |
You’re not taxed on withdrawals |
Funds that are withdrawn are charged a prescribed withholding tax at the time of withdrawal but will be ultimately taxed as income at your marginal rate. This may affect government benefits such as old age security. |
Withdrawn amounts |
Added to contribution room in future years |
Contribution room is lost for amounts you withdraw |
ETFs |
Mutual Funds
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Flexibility |
ETFs trade on stock exchanges and can be bought and sold any time during the trading day |
Mutual funds are transacted at the end of the trading day |
Price transparency |
ETF prices are communicated throughout the day |
Mutual fund prices are not known until the end of the day |
Costs and fees |
ETFs can incur a management expense ratio (MER) fee, sales taxes and independent review committee (IRC) fees. Brokerage commissions may also apply. |
Mutual funds can incur many of the same costs as an ETF, including a MER which is usually higher since mutual funds typically carry operating expenses on top of management fees and sales taxes. At the same time, mutual fund transactions rarely carry transaction/commission fees. |
ETFs and index funds: What's the difference?
An index fund is a mutual fund that's built to follow and attempt to match a specific market index. But there are also ETFs designed to follow an index. So, which one is better? There are advantages and disadvantages to both. For example:
- ETFs are more flexible—because they're traded during the day, like a stock. The price is determined at the time you buy or sell
- Index mutual funds are bought and sold when the markets close—and the price is determined then
- Brokerages may offer zero trade commission options on some ETFs which may mean, but not always, lower costs than an index mutual fund
- Index mutual funds typically do not have a transaction or commission fees, however they may have early redemption fees or potentially higher management fees when compared to ETFs
- ETFs can be considered more tax efficient compared to traditional Mutual Funds. More information on how ETFs are taxed