Quick Answer
- ✓ Wealthsimple: $0 commissions, FHSA, crypto, fractional shares, $0 minimum, $25 referral bonus
- ✓ TD Direct Investing: $9.99/trade, full bank integration, no FHSA, no crypto, no referral bonus
- → Choose Wealthsimple unless you are deeply embedded in TD Banking and need integrated wealth management
Full Feature Comparison
| Feature | Wealthsimple$25 Bonus | TD Direct Investing |
|---|---|---|
| Stock trading fees | $0 | $9.99/trade |
| ETF trading fees | $0 | $9.99/trade |
| Account minimum | $0 | $0 |
| Mobile app quality | ||
| Ease of use | ||
| TFSA | ✓ | ✓ |
| RRSP | ✓ | ✓ |
| FHSA | ✓ | ✗ |
| Crypto trading | ✓ | ✗ |
| Fractional shares | ✓ | ✗ |
| Auto-invest / robo | ✓ | ✗ |
| Human advisors | ✓ | ✓ |
| CIPF protected | ✓ | ✓ |
| CDIC eligible | ✓ | ✓ |
| Referral bonus | $25 CAD | None |
Data sourced from public platform pages. Verified May 2026. Fees subject to change.
Key Differences
Trading Fees: $0 vs $9.99
The single biggest difference: TD Direct Investing charges $9.99 per trade. Wealthsimple charges $0. For an investor making 20 trades per year, that's $200 saved annually — more than the $25 bonus itself.
FHSA Support
Wealthsimple supports the First Home Savings Account (FHSA). TD's direct investing platform does not. If you're saving for a first home, this is a significant gap.
Why TD Still Has Users
Many Canadians use TD Direct Investing because they already bank with TD and want everything in one place. The integration is convenient, but convenience has a price — $9.99 per trade.
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