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

Broker Name

HFM

TD Direct Investing

Broker Overview

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

Market maker broker

None

Years of Existence / Established Year

2010

1984

Customer Base / Number of Accounts

2500000 clients

17 M

Regulation & Security

Regulations (governing bodies)

FSC, CySEC, DFSA, FCA, ISA, FSCA, MAS, CMA, FMA

CIPF, CIRO

Awards Won (count for the last 2 years)

Best Global Affliiate Programs 2024, Best Trading Accounts Global, Best Stock Broker 2023, Best Trading Platform Broker

No major awards listed

Security Measures

Civil Liability insurance program with a limit of €5,000,000

CIPF

SSL Encryption / 2FA

Yes

Segregated Funds

Yes

Negative Balance Protection

Yes

Trading Instruments/Products Offered

Assets Types / Trading Instruments (total count and breakdown)

Over 500 markets including energies

Fixed income investments, GICs

Currency Pairs

Yes

Commodities

Yes

Indices

Yes

Cryptocurrencies

Yes

CFDs

Yes

ETFs

Yes

Stocks

Yes

Options

Yes

Futures

Bonds

Yes

Mutual Funds

Yes

Fractional Shares

Exchange Traded Notes (ETNs)

Precious Metals

Yes

Real Estate Investment Trusts (REITs)

Equities

Yes

Trading Platforms & Technology

Trading Platform Availability

Yes

MT4

Yes

MT5

Yes

cTrader

Social Trading

Yes

Copy Trading

Yes

Other Trading Platforms (proprietary, etc.)

HFM Platform, Web trading, Mobile trading

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

Platform Compatibility (Windows, Mac, iOS, Android)

Yes

Account Types & Conditions

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

Cent, Zero, Pro , Premium, Corporate, Joint account

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

Demo Account (Yes/No)

Yes

Islamic Accounts (Yes/No)

Yes

Minimum Deposit

Leverage Available

1:1000- 1:2000

Trade Limit (maximum per trade)

60/ 200 Standard lots per position depends on account types

Depends on asset types

Commission (per account type)

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

Beginners to experienced traders

Beginners and experienced traders

Deposit & Withdrawal Options

Deposit Methods

Bank Transfers, Wire transfers, Credit/Debit cards,Crypto, e-Wallets

Direct bank account, Check

Withdrawal Methods

Bank Transfers, Wire transfers, Credit/Debit cards,Crypto, e-Wallets

SWIP, Wire payment

Other E-Wallets Supported

FasaPay, Neteller

Tools & Educational Resources

Economic Calendar

Yes

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

Webinars, eBooks and Guides, Video Tutorials

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

Fees & Commissions

Trading-Related Fees

Spread: starts from 0.0- 1.2 pips, commissions: $0.03 per 1k lot, Commission for Forex: $0.03 - $3, gold: $7- $14

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

Spread (typical, fixed, variable)

Variable

Per Lot Fees

Options Contract Fees

$9.99 + $1.25 per contract

Futures Contract Fees

Markup Fees on Spread

Guaranteed Stop Loss Fees

Maximum Leverage

34:20:00

Non-Trading Fees

Dormant Fees

$10 inactive for 90 days

Subscription Fees (for premium features, data feeds)

Advisory Fees

Swap Fees (Overnight Financing)

Statement or Document Fee

$2-$5

Account Opening Fee

Applicable, Depends on account types

Account Maintenance Fee

$25 per quarter

Deposit Fee

$17.50 U.S

Currency Conversion Fee

2.50%

Withdrawal Fee

$30-$100

Bonuses, Promotions & Benefits

Bonuses, Promotions, and Referrals

Yes

Customer Benefits (e.g., Retirement Plan)

Yes

Trading Hours

Trading Hours (for each asset class if applicable)

Varies by instrument

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)

Customer Support

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

24/5

Monday to Friday, 7 am to 10 pm ET

Customer Support Methods (phone, email, live chat)

Live support: Available 24/5, Email : [email protected], Phone: +44-203 097 85 71

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

Support Languages

27+

Additional Information

Headquarters Location

financial hub of Limassol, Cyprus

66 Wellington Street West, Toronto, ON M5K 1A2

Complaints (for crypto brokers)

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 HFM and TD Direct Investing offer affordable fee structures, but HFM generally edges out with no inactivity fees and lower commissions on standard trades, whereas TD Direct Investing shines with bundled research and platform access.

HFM offers a quick and paperless account setup that appeals to traders on the go, whereas TD Direct Investing more involved onboarding process adds an extra layer of safety and regulatory checks.

HFM provides a modern trading experience with its proprietary or MT4/MT5 platform, ideal for technical traders. TD Direct Investing, on the other hand, offers more research tools and is better suited for data-driven investors.

Advanced users will enjoy HFM capabilities, but TD Direct Investing remains a favorite for its streamlined and beginner-centric approach.

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