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Robinhood vs TD Direct Investing : Fees, Safety & Trading Conditions Compared (2026)

Broker Name

Robinhood

Robinhood

VS
TD Direct Investing

TD Direct Investing

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Broker Overview

Broker Type (e.g., Market Maker, ECN/STP)

STP

None

Years of Existence / Established Year

2013

1984

Customer Base / Number of Accounts

24.2 M

17 M


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Regulation & Security

Regulations (governing bodies)

FINRA,SIPC, SEC

CIPF, CIRO

Awards Won (count for the last 2 years)

Future Trends Corporates Award -2024, Future Trends Leader Award- 2024

No major awards listed

Security Measures

SIPC, FDIC

CIPF

SSL Encryption / 2FA

Yes

Yes

Segregated Funds

No

Yes

Negative Balance Protection

Yes

Yes


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Trading Instruments/Products Offered

Assets Types / Trading Instruments (total count and breakdown)

5000+ trading instruments

Fixed income investments, GICs

Currency Pairs

No

No

Commodities

No

No

Indices

No

No

Cryptocurrencies

Yes

Yes

CFDs

No

No

ETFs

Yes

Yes

Stocks

Yes

Yes

Options

Yes

Yes

Futures

Yes

No

Bonds

No

Yes

Mutual Funds

No

Yes

Fractional Shares

Yes

No

Exchange Traded Notes (ETNs)

No

No

Precious Metals

No

Yes

Real Estate Investment Trusts (REITs)

No

No

Equities

No

Yes


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Trading Platforms & Technology

Trading Platform Availability

Yes

Yes

MT4

No

No

MT5

No

No

cTrader

No

No

Social Trading

No

No

Copy Trading

No

No

Other Trading Platforms (proprietary, etc.)

Mobile, web trading, Desktop trading

TD app, web trader, Advanced dashboard, TD active trader

Platform Compatibility (Windows, Mac, iOS, Android)

Yes

Yes


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Account Types & Conditions

Account Types (Retail, Pro, VIP, etc.)

Margin, IRA, and cash account

Margin account, cash trading account, TFSA, RSP, RESP, RIF, LIRA, LIF, RDSP

Demo Account (Yes/No)

No

No

Islamic Accounts (Yes/No)

No

No

Minimum Deposit

$0

$0

Leverage Available

2:1

No

Trade Limit (maximum per trade)

Depends on assets class

Depends on asset types

Commission (per account type)

$0

NA

Best Suited For (e.g., beginners, experienced traders)

Beginners

Beginners and experienced traders


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Deposit & Withdrawal Options

Deposit Methods

ACH, Instant bank transfer, Debit card, Wire transfer

Direct bank account, Check

Withdrawal Methods

Instant bank transfer, Debit card, Standard bank transfer

SWIP, Wire payment

Other E-Wallets Supported

No

No


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Tools & Educational Resources

Economic Calendar

Yes

Yes

Tools & Educational Resources (tutorials, webinars, market news, etc.)

Learning Tutorials, Webinars, Market news and insights, Support and community

Learning Centre - Investing Education, Market Insights and Analysis, Webinars, Investing Guides, Video Tutorials, TD Direct Investing Community Forum


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Fees & Commissions

Trading-Related Fees

Exchange and regulatory fees: $55 per trade, with a maximum of $0.02, Margin fees: 5.75%

Commission -mutual funds- $0 , IPOs, Equities- $7.00- $9.99, Stock - $3- $43, Bonds- $40 + $1.50/1,000

Spread (typical, fixed, variable)

NA

NA

Per Lot Fees

NA

NA

Options Contract Fees

$0.01

$9.99 + $1.25 per contract

Futures Contract Fees

NA

NA

Markup Fees on Spread

0.50%

NA

Guaranteed Stop Loss Fees

NA

NA

Maximum Leverage

2:1

No


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Non-Trading Fees

Dormant Fees

$0

NA

Subscription Fees (for premium features, data feeds)

$5 per month

NA

Advisory Fees

NA

NA

Swap Fees (Overnight Financing)

NA

NA

Statement or Document Fee

$2 per month

$2-$5

Account Opening Fee

$0

Applicable, Depends on account types

Account Maintenance Fee

$0

$25 per quarter

Deposit Fee

$0

$17.50 U.S

Currency Conversion Fee

0.03%

2.50%

Withdrawal Fee

Withdrawal : 1.75%, Bank transfers- 0, Outgoing wire transfer $25 Domestic overnight check delivery $20, ACATS, Outgoing $100

$30-$100


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Bonuses, Promotions & Benefits

Bonuses, Promotions, and Referrals

Yes

Yes

Customer Benefits (e.g., Retirement Plan)

Yes

Yes


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Trading Hours

Trading Hours (for each asset class if applicable)

8 PM ET Sunday until 8 PM ET Friday

Pre-market trading hours (8 a.m. to 9:30 a.m. ET) and after-hours trading (4 p.m. to 8 p.m. ET)


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Customer Support

Support Hours (e.g., 24/7, weekdays only)

7 AM - 9 PM ET

Monday to Friday, 7 am to 10 pm ET

Customer Support Methods (phone, email, live chat)

App chat 24/7 , Phone- 650-761-7789, Robinhood Crypto- 888-275-8523

Phone: 1-800-465-5463, , Book an appointment

Support Languages

1

4


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Additional Information

Headquarters Location

Menlo Park, California , U.S.

66 Wellington Street West, Toronto, ON M5K 1A2

Complaints (for crypto brokers)

No

No


At TradingCritique, we don't just list brokers. We test, compare, and simplify your decision-making. Whether you're a beginner or a pro, our data-driven comparisons are built to match your trading style and region. Learn how we Evaluate a broker.
If minimizing trading costs is your top priority, Robinhood might be more attractive due to its lower commissions. Meanwhile, TD Direct Investing justifies its moderate fees with more robust tools and professional-grade features.
While Robinhood prioritizes fast registration with minimal steps, TD Direct Investing focuses on a thorough vetting process that gives more flexibility in choosing account types and features.
New traders may find Robinhood interface more welcoming, while TD Direct Investing appeals to experienced users looking for tools like heatmaps, screeners, and market sentiment overlays.
For market veterans, Robinhood brings the tools they need. New investors might find TD Direct Investing more approachable and cost-effective.

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