TD Direct investing is good for investors who are pro in trading and investing, those is in need of real time market data to do research and construct tailored portfolios.
What is TD Direct Investing
TD Direct Investing is the investment management wing of TD Bank, which is one of the big 5 banks in Canada. It has been in the business for more than 30 years now and you can trade in shares, bonds, mutual funds, options, GICs and new issues within this account.
You can open a Tax-free Savings Account, Registered Retirement Savings Plan, locked in retirement account, Registered Retirement Income Fund, Registered Education Savings Plan, Cash Trading Account, life income funds, registered disability savings plan and margin accounts using TD Direct Investing platform.
Significant Features of TD Direct Investing
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Online Trading Platforms such as Webbroker and TD app that are suitable for investors and traders, advanced dashboard best suited for active traders and Thinkorswim for active US options traders. There is no minimum deposit for the accounts, except for thinkorswim. One can customize the platforms based on their needs.
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Webbroker offers frequent reporting, Morningstar research, fundamental analysis, charts, equity and mutual fund screeners. TD app provides best research including fundamental analysis and charts. Advanced dashboard provides ratings, financial statements and ratio analysis. Thinkorswim presents live streaming, technical studies, technical analysis tools, and economic data tools.
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Active customer service team that works from Monday to Friday from 7 am to 6pm.
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Real time market data of level 1 TSX, MX, TSX venture, OPRA, NASADAQ and NYSE.
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Access to trade in Canadian and US shares
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Easy application process, especially for TD bank customers. Account opening process can be completed online,
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Safe and secure as the account will be with one of the leading banks. TD Bank is a member of the Investment Industry regulatory Organization of Canada and Canadian Investor Protection Fund.
Disadvantages of TD Direct Investing
- It is costlier than the trading platforms of the other big 5 banks.
- High account keeping fees of $25 per quarter.
- ETF trading is not free of cost.
- Standard commission fee is upto $9.99
Is TD Direct Investing good?
TD Direct investing is suitable and is good for investors who are pro in trading and investing, those who use real time market data to research and construct portfolios.
However, if you are a novice and if you prefer low-cost platforms that offer default portfolios and robo advisors, it is wise that you choose another e-trading platform.
In addition, if you are already a long term customer of TD bank and if you wish to keep all your money under the same shelter, you may choose TD direct investing as your investment platform.