When looking for a discount broker, don’t just think about transaction fees. Find out everything you need to know about the platform to invest successfully based on your strategy. The fees are just one factor.

If you focus too much on fees, you may not be able to get started anymore. Don’t overlook the importance of investing and getting started.

TD Direct Investing is a strong platform with competitive offerings. Read on to find out more.

This review covers the features, fees, advantages, disadvantages, trading platforms and alternatives. TD Direct Investing is the most popular managed asset based platform. It’s also the most popular with my readers (see graphic at the end of the review).

DISCLOSURE: Please note that links to merchants mentioned in this post may use an affiliate link. Using an affiliate link means that, at zero cost to you, I will potentially earn you a commission every time you buy something through that affiliate link.

TD Direct Investment Summary

Here’s a round-up to get you started. However, there is a lot more information below if you want to get into the details.

Choosing a discount broker is a personal decision. You need to know what you need in addition to the fees.

Frequently asked questions about TD direct investment

Can I waive the fees with TD Direct Investing?

As with other discount brokers, active traders have a $ 7.00 fee instead of the regular $ 9.99, which is still higher than Questrade, National Bank Direct Brokerage, or CIBC’s Investor’s Edge.

You can avoid the $ 25 quarterly maintenance fee by having assets of at least $ 15,000 or by keeping the minimum across your household. This allows the family to combine their total assets to reach the minimum balance.

How do I add funds to my TD Direct Investing account?

As a TD customer, you can easily transfer money, otherwise you can do so using an online invoice payment. You can also transfer existing accounts with another institution. That’s how I started RBC Direct Investing.

Can i use a mobile app?

TD Direct Investing is available through the TD app for banking.

How can I contact customer support?

Via the usual support channels such as telephone or communication center.

Trading costs

The cost of using a discount broker is probably the number one starting point for any DIY investor to keep costs down. My approach has been to evaluate my trading costs per $ 1,000 invested with the aim of keeping it at or below 1%.

However, once you have some funds in place, fees are not the most important thing as other features become increasingly important to your investment strategy, such as: B. Conversion from USD to CAD or receiving the DRIP discount or access to the research you want.

The cost of a transaction is the same as any other bank’s own discount broker with a rate of $ 9.99 per transaction.

It’s a 1% charge on a $ 1,000 investment that I find acceptable.

Accounts

TD Direct Investing offers registered accounts like TFSA, RRSP / RRIF, Spousal RRSP / RRIF, RESP, unregistered accounts like cash, margin and short sales.

If you have a combined household value of $ 15,000 or more, there are no maintenance fees. TD offers the family the ability to combine accounts down to the minimum of $ 15,000, making it easy for everyone to avoid the maintenance fees.

The process of adding funds to a trading account is actually critical. You don’t want to wait too long before you can make a trade. When it comes to TD and all of the bank’s own discount brokers, the easiest thing to do is to have a bank account where you can transfer money to and from.

The best option if you’re not using TD to send money is to use the payee approach to transfer cash from another financial institution. It’s pretty much the standard method in Canada to fund accounts, unfortunately.

Transactions

TD Direct Investing offers real-time quotes for all trades, which Questrade and others do not. Since I place limit orders for all of my orders, I know with RBC that the bid and ask is correct, while with other platforms it can be delayed.

The rest of the functions when executing your transaction are standard.

Investment Research

Every discount broker now offers Morningstar research, and TD Economics is no different.

You can track your performance with automated profit / loss reports, time and money weighted returns, and a balance trend view to see what is causing changes in your account.

However, it is primarily a platform for trading, not a platform for managing a portfolio. Hence, you will not get any analysis of how to get it with a detailed portfolio tracker.

Customer service

Customer support is standard with the usual access point such as telephone and secured e-mail.

Discount broker available

While the easiest way to select a discount broker is to use the one associated with your bank, there are options with different features and costs that best suit your needs. Review all of your options.

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