Checked by hand in July 2026. The full detail is in the table below.
TD Direct Investing charges $9.99 a trade. TD Easy Trade gives you fifty free ones a year. Wealthsimple charges nothing, ever. The question is what each one gives back.
Checked by hand in July 2026. The full detail is in the table below.
TD runs two separate platforms, which often muddles the comparison. Both appear here.
| Criterion | Wealthsimple | TD |
|---|---|---|
| Commission on stocks | $0 | $9.99 at Direct Investing, $7 above 150 trades per quarter |
| Commission-free platform | $0 permanently, no cap | TD Easy Trade: 50 free trades per year |
| Selling ETFs | $0 | $9.99 at Direct Investing |
| Automated managed account | 0.5% per year, 0.4% above $100,000 | Bank-managed solutions, fees vary by product |
| Options and margin | Not offered | Offered at Direct Investing |
| TFSA, RRSP, FHSA, RESP | Yes | Yes |
| Physical branches | None | Nationwide network, extended hours |
| Mortgage and loans | No | Yes |
| Crypto | Yes | No |
| Built-in tax filing | Yes, free | No |
| Client contest | Monthly Millionaire, $1M per month | No equivalent |
| Sign-up bonus | $25 with LOIO3A, plus $10 by Interac from us | Occasional promotions |
Manually verified in July 2026. Bank fee schedules change: confirm before opening an account.
Someone buying one ETF a month at TD Direct Investing pays roughly $120 in commissions a year. Selling those positions later costs the same again. On a $10,000 portfolio, that's over 1% a year going to trading costs, before you even mention the management fees on the funds themselves.
That's exactly the scenario Wealthsimple removes. Zero commission on buys and sells, no annual cap, no volume conditions.
TD saw the problem, of course. TD Easy Trade offers fifty free trades a year plus free purchases of TD's own ETFs. For an investor making four transactions a year, cost stops being a question. For someone contributing weekly, the limit arrives fast.
The branch network is still the main argument. TD is open evenings and Saturdays in many cities, and there are situations where talking to a person behind a counter settles in ten minutes what would take three rounds of email.
Then comes everything Wealthsimple doesn't offer: mortgages, lines of credit, rewards credit cards, business accounts, safety deposit boxes. Consolidating with one provider makes life simpler for plenty of people, even at a slightly higher cost.
TD Direct Investing also gives access to options and margin, both absent at Wealthsimple. For an investor who uses those tools, the comparison ends right there.
You invest small amounts in ETFs on a regular schedule: Wealthsimple, no argument. TD Direct Investing commissions eat a small portfolio too quickly, and Easy Trade's fifty trades disappear fast when you contribute every two weeks.
You make a handful of transactions a year and the rest of your banking already lives at TD: staying is defensible, particularly through Easy Trade.
You use margin or options: TD Direct Investing, since Wealthsimple doesn't cover those needs.
To see what fees actually cost you over twenty or thirty years, our fee calculator runs the numbers in seconds.
Code LOIO3A: a $25 bonus after a $100 deposit, plus $10 by Interac e-Transfer once the claim form is in. $35 total, and zero commission from there on.
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