TD Direct Investing is the self-directed brokerage of TD Bank Group, operated by TD Waterhouse Canada Inc., a CIRO-regulated investment dealer and CIPF member. It offers Canadian and US stocks, ETFs, options, bonds and mutual funds in TFSA, RRSP, FHSA and non-registered accounts, with web, mobile and advanced trading platforms plus the simpler TD Easy Trade app. It suits Canadians who want a big-bank brokerage with branch and phone support alongside online trading.
Risk warning: Trading carries a high risk of losing money, especially with leveraged products such as CFDs. A bonus does not reduce that risk. Only deposit what you can afford to lose.
TD Direct Investing
Use promo code CASHBACK by October 23, 2026 to get 3% cash back on transfers into a TD Direct Investing TFSA, RRSP or FHSA and 1% on non-registered accounts, capped at C$15,000. The assets must stay until November 30, 2028.
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TD Direct Investing is the self-directed brokerage of the Toronto-Dominion Bank, run as a division of TD Waterhouse Canada Inc. It traces back to TD Green Line Investor Services, which opened in 1984 as the first bank-owned discount brokerage in Canada, launched WebBroker in 1996 and took the TD Direct Investing name in 2012. TD Easy Trade, the simpler app launched in 2022, is a service of the same legal entity, as is the TD Active Trader platform added in 2023.
TD Waterhouse Canada Inc. is an investment dealer regulated by the Canadian Investment Regulatory Organization (CIRO) and a member of the Canadian Investor Protection Fund (CIPF). If the firm failed, CIPF covers missing client property up to $1 million across all general accounts (cash, margin, TFSA and FHSA combined), a further $1 million across registered retirement accounts and $1 million across RESPs. It does not cover market losses. The firm's most recent firm-level sanction on CIRO's record is a $4 million fine in March 2020 over how it reported position costs on client statements.
TD is a full-price bank brokerage. Online stock trades cost $9.99 ($7.00 at 150 or more trades a quarter), options add $1.25 per contract, and select ETFs trade free. A $25 quarterly maintenance fee applies to households under $15,000, but it is waived with a $100 monthly pre-authorized deposit, three commission trades a quarter, or for the first six months, among other conditions. TD Easy Trade has no maintenance fee and a set of free trades each year.
The fees to watch are the exit and currency costs. Moving an account out of TD costs $150, collapsing a registered plan can cost $100, and USD conversions carry a spread from 1.07% on small amounts, plus a surcharge TD discloses on top. If you plan to hold US stocks for the two-year bonus period, a USD-capable TFSA or RRSP avoids converting back and forth.
TD's current Easy Cash Offer pays 3% on assets transferred into a TFSA, RRSP, FHSA, LIRA or LRSP and 1% on transfers into cash, margin or corporate accounts, capped at $15,000. New clients enter promo code CASHBACK when opening an account by October 23, 2026; existing clients register with an online form. At least $2,500 has to arrive from outside TD Bank Group by November 30, 2026.
The catch is the length of the hold. TD pays half by December 31, 2027 and the rest by December 31, 2028, each based on what is still in the account on November 30 of that year. Any withdrawal from an eligible account during the campaign shrinks the reward, including assets you held before the offer and even dividends taken out as cash, and falling below $2,500 through withdrawals cancels the payment. Market losses do not count against you. Moving assets from a 1% account to a 3% account does not upgrade them; the original rate sticks.
TD also reimburses the transfer-out fee your old broker charges, up to $150 per transfer and four transfers per client, on moves of $25,000 or more. Inside a registered plan the cash reward lands in the plan and TD says it is not treated as a contribution.
TD lists more than ten offers since late 2024: winter and spring cash-back campaigns, FHSA offers, Aeroplan points promotions and trading rebates. The campaign before this one (INVEST2026) paid 2% on registered transfers with a $10,000 cap and released assets in March 2027, so the current deal is richer per dollar but locks money up about 20 months longer. Separate smaller offers also run, such as $100 for a $1,000 deposit in TD Easy Trade until November 2, 2026. If you are not in a hurry, comparing the next campaign's hold date with your own plans is worth more than chasing the headline percentage.
The offer is open to legal residents of Canada who have reached the age of majority in their province. TD accounts generally require Canadian residency and a SIN; temporary residents with a permit of more than six months can open only a non-registered cash account in a branch. RIFs, LIFs, RESPs, RDSPs, trusts and estates are excluded from the cash back, and for joint accounts only the primary holder's total counts toward the cap.
CASHBACK (REMISE in French) for new accounts opened between July 2 and October 23, 2026. Existing clients do not use a code; they register an eligible account through TD's online form by the same date.
In two halves: the first by December 31, 2027, based on what you still hold on November 30, 2027, and the second by December 31, 2028, based on the balance on November 30, 2028. Both are paid as cash into your accounts.
They reduce it. Any withdrawal from an eligible account between July 2, 2026 and November 30, 2028 is subtracted, including assets held before the offer, and dropping below $2,500 through withdrawals cancels the payment. Market losses are not counted.
Yes, on transfers of $25,000 or more. TD credits up to $150 per eligible transfer, for up to four transfers per client, once you send a statement showing the fee. Locked-in plans and RDSPs are excluded.
Inside a TFSA, RRSP or FHSA the reward stays in the plan, and TD says it is not a contribution. For cash or margin accounts, TD's terms only say the reward may have tax implications and name no tax slip, so treat it as reportable income and check with a tax advisor.