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TD Easy Trade™ is a basic stock trading app that does many things right but has some shortcomings.
You can open a TD Easy Trade™ account online within minutes and trade via its user-friendly mobile app. It includes 50 free stock trades per year, commission-free TD exchange-traded funds (ETFs) and supports fractional shares.
It’s a compelling offer, but with limited account types and research tools and no access to non-TD ETFs, it may not be enough to steer young investors away from some of the best Canadian brokerage firmsinv, such as Questrade, Wealthsimple or Moomoo (more below).
Who TD Easy Trade is for
TD Easy Trade is a solid choice for young investors who want a basic self-directed investing experience with access to free stock trades. It’s not well-suited for experienced investors looking for advanced market research tools and a wide range of investment options. The lack of non-TD ETFs is a definite turn-off for dedicated ETF investors.
You can open one or more of the following account types through TD Easy Trade:
- Cash (non-registered)
- Tax-Free Savings Account (TFSA)
- Registered Retirement Savings Account (RRSP)
- First Home Savings Account (FHSA)
Additionally, every TD Easy Trade account includes a Canadian and US currency component, so you can trade in the same currency a stock is listed in. Keep in mind that a currency conversion must occur to move funds into the US side of your account.
While you can’t open RRIFs, RESPs, LIRAs, etc., it’s unlikely that these account types will be in high demand with TD Easy Trade’s target customer.
Pros and cons
Pros
- 50 free stock trades annually*
- Unlimited free TD ETFs
- Supports fractional shares
- Supports DRIP investing
- Access educational videos in-app
- Simple, easy-to-use mobile app
Cons
- Cannot trade non-TD ETFs or mutual funds
- Mobile-only, can’t access from desktop
- Only supports three account types
- Research tools are limited
*Note that the 50 free stock trades are per client, not per account.
TD Easy Trade fees and commissions
Trading fees
- First 50 stock trades per year: Free
- After 50 stock trades: $9.99
- Fractional share trades: $1.99 (trades for less than one share)
- TD ETF trades: Free (unlimited)
- Third-party ETFs: Not available to trade
- Mutual funds: Not available to trade
- Options: Not available to trade
Other notable fees
- Account transfer out fees (partial and full): $150
- RRSP plan withdrawal fees: $100 (full withdrawal) or $25 (partial)
- Outgoing wire payments: $30 - $80
- Incoming wire payments: $17.50
- Delivery of registered certificates (and DRS statement): $56.50
Note: There are no account fees to open a TD Easy Trade account, nor are there any annual account fees.
TD Easy Trade offers one trading platform via its mobile app. It has 4.3 out of 5 stars on the App Store and 4.2 stars on Google Play. Its trading platform is easy to use. You can browse the list of available stocks and ETFs or search by symbol or name.
Buy/Sell, Order Status and Watchlist tabs are displayed at the top of the portfolio screen, and you can easily submit an order based on the number of shares or dollar amount. The app will automatically let you know if fractional shares are available. You can also access market news and activity, and educational videos inside the app.
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TD Easy Trade offers little in the way of research tools through its mobile trading platform. Remember, this is trading at its most basic. You can access real-time market data and simplified market research tools. Also, a goal-planning feature lets you set, plan and monitor your investing goals.
One nice feature is the in-app educational videos that can help you learn about different aspects of self-directed investing. But you’ll likely be disappointed if you want more in-depth investing tools.
At TD Easy Trade, you can speak with a representative from Monday to Friday, 7 am to 10 pm ET. You can also get answers to the most common questions via the TD Easy Trade Help Centre.
When it comes to customer reviews, Trustpilot does not offer a rating for TD Easy Trade, just TD overall. I perused several investing-related Reddit threads and found reviews on TD Easy Trade to be mixed at best. Many users compare it unfavourably to Wealthsimple.
The most common complaint I noticed was the inability to trade non-TD ETFs. One user called it a “more restrictive version” of Wealthsimple Trade1, one of TD Easy Trade's biggest competitors. On a positive note, some felt that it was a solid choice for young investors who already bank with TD.
What I like and don’t like about TD Easy Trade
My overall view of TD Easy Trade is positive. As an experienced investor, I would not use the platform; it’s simply too basic and the investment options are far too restrictive, especially due to the lack of non-TD ETFs. However, I think it’s a solid choice for young people just starting to invest. In fact, two of my children have opened TD Easy Trade accounts and have enjoyed learning how to invest on the platform. You can open an account online in minutes and get 50 free stock trades per year, which is more than enough for most novice traders. You can also purchase fractional shares, something most big brokers in Canada don’t yet offer.
Colin Graves
Freelance Writer
TD Easy Trade vs. TD Direct Investing
TD Direct Investing has long been one of Canada’s top online brokerages. In fact, it claimed top spot in The Globe and Mail’s Digital Brokerage rankings for the second straight year in 20242. And while TD Easy Trade factored into The Globe’s decision, the two platforms are separate and meant for entirely different users.
TD Direct Investing is a much more robust platform than Easy Trade. It offers a full desktop and mobile trading experience, access to far more investments and enough investing tools and research capabilities to satisfy the most sophisticated investors. TD Easy Trade, on the other hand, is meant for newer investors. Its mobile-only trading app includes 50 free stock trades annually and unlimited TD ETF trades. Both platforms support fractional shares.
TD Direct Investing is the better of the two platforms if you’re looking for anything beyond the most basic trading experience.
Read our full TD Direct Investing review.
Questrade vs. TD Easy Trade
Questrade, Canada’s largest independent brokerage, has more in common with TD Direct Investing than TD Easy Trade. One key advantage of Questrade is that it offers unlimited free ETF purchases. But unlike Easy Trade, you can choose from thousands of ETFs — you’re not limited to one company.
Questrade doesn’t offer free stock trades; however, its standard trading fees are lower than most Canadian online brokers. One thing Questrade doesn’t offer that Easy Trade does is fractional shares. Overall, Questrade is the superior platform.
Read our full Questrade review.
Go to QuestradeWealthsimple vs. TD Easy Trade
In a way, TD Easy Trade is TD’s answer to Wealthsimple’s stock trading app, often called Wealthsimple Trade. Like Wealthsimple, Easy Trade is geared to newer investors looking for a simple way to trade. It also offers free stock trades, albeit limited to 50, and supports fractional shares.
However, Wealthsimple has been around a few years longer than Easy Trade and has more to offer investors. You can trade via mobile app and desktop and purchase a wider range of investments, including over 14,000 Canadian and US stocks and ETFs and options.
If you’re an existing TD client, you may decide that keeping all your accounts under one roof is more convenient and stick with TD Easy Trade. Otherwise, Wealthsimple remains the better of the two.
Disclaimer: Terms and Conditions apply. Visit Wealthsimple via our Apply Now button for up-to-date terms and conditions.
Read our full Wealthsimple review.
Go to Wealthsimple†Terms and Conditions Apply
Colin Graves
Freelance Writer
Colin Graves is a Winnipeg-based financial writer and editor whose work has been featured in publications such as Time, MoneySense, MapleMoney, Retire Happy, The College Investor, and more. Before becoming a full-time writer, Colin was a bank manager for over 15 years.
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