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

Broker Name

TD Direct Investing

TD Direct Investing

VS
Cobra Trading

Cobra Trading

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Broker Overview

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

None

None

Years of Existence / Established Year

1984

2003

Customer Base / Number of Accounts

17 M

Info not available


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Regulation & Security

Regulations (governing bodies)

CIPF, CIRO

FINRA NFA

Awards Won (count for the last 2 years)

No major awards listed

Cobra Trading the best day trading platform

Security Measures

CIPF

SIPC

SSL Encryption / 2FA

Yes

Yes

Segregated Funds

Yes

Yes

Negative Balance Protection

Yes

No


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Trading Instruments/Products Offered

Assets Types / Trading Instruments (total count and breakdown)

Fixed income investments, GICs

-

Currency Pairs

No

No

Commodities

No

No

Indices

No

No

Cryptocurrencies

Yes

No

CFDs

No

No

ETFs

Yes

No

Stocks

Yes

Yes

Options

Yes

Yes

Futures

No

Yes with Venom trading

Bonds

Yes

No

Mutual Funds

Yes

No

Fractional Shares

No

No

Exchange Traded Notes (ETNs)

No

No

Precious Metals

Yes

Yes

Real Estate Investment Trusts (REITs)

No

No

Equities

Yes

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

Yes

Other Trading Platforms (proprietary, etc.)

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

DAS Trader Pro Sterling Trader Pro Cobra Trading view integration

Platform Compatibility (Windows, Mac, iOS, Android)

Yes

Yes


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Account Types & Conditions

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

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

Joint (JTWROS) Individual Retirement Account - IRA Roth - IRA Corporate LLC Trust Partnership

Demo Account (Yes/No)

No

Yes

Islamic Accounts (Yes/No)

No

Yes

Minimum Deposit

$0

$25,000

Leverage Available

No

4:1

Trade Limit (maximum per trade)

Depends on asset types

Trade size vary on each asset

Commission (per account type)

NA

$0

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

Beginners and experienced traders

Experienced


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Deposit & Withdrawal Options

Deposit Methods

Direct bank account, Check

Check Wire Account transfer

Withdrawal Methods

SWIP, Wire payment

Check Wire Account transfer

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

Advanced order types Basket trading Charting & Multi account management Blogs, Posts & platform videos


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Fees & Commissions

Trading-Related Fees

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

$0.0015 per share

Spread (typical, fixed, variable)

NA

NA

Per Lot Fees

NA

NA

Options Contract Fees

$9.99 + $1.25 per contract

$0.30 per contract

Futures Contract Fees

NA

NA

Markup Fees on Spread

NA

NA

Guaranteed Stop Loss Fees

NA

NA

Maximum Leverage

No

4:1


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Non-Trading Fees

Dormant Fees

NA

$15

Subscription Fees (for premium features, data feeds)

NA

$0

Advisory Fees

NA

NA

Swap Fees (Overnight Financing)

NA

NA

Statement or Document Fee

$2-$5

NA

Account Opening Fee

Applicable, Depends on account types

$0

Account Maintenance Fee

$25 per quarter

$0

Deposit Fee

$17.50 U.S

$0

Currency Conversion Fee

2.50%

NA

Withdrawal Fee

$30-$100

$0


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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)

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)

4am to 8pm EST


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Customer Support

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

Monday to Friday, 7 am to 10 pm ET

Monday-Friday - 7am to 4.30pm Saturday & Sunday - Closed

Customer Support Methods (phone, email, live chat)

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

Toll free: 877-792-6272 Direct: 972-491-7999 Fax: 972-491-3111 Email: mailto:[email protected] Live Chat

Support Languages

4

1


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Additional Information

Headquarters Location

66 Wellington Street West, Toronto, ON M5K 1A2

3008 E. Hebron Pkwy Building 400 Carrolton, TX 75010

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.
Both TD Direct Investing and Cobra Trading offer affordable fee structures, but TD Direct Investing generally edges out with no inactivity fees and lower commissions on standard trades, whereas Cobra Trading shines with bundled research and platform acces
TD Direct Investing gets you trading faster thanks to its minimal entry barriers. In comparison, Cobra Trading account setup is slower but includes extra layers of financial screening and suitability assessments.
TD Direct Investing integrates well with algorithmic trading tools and third-party plugins. In contrast, Cobra Trading emphasizes educational content and built-in research features within its platform.
TD Direct Investing strength lies in high-performance trading, while Cobra Trading provides a more accessible route for everyday investors.

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