RBC Direct Investing review
- Stock Trading Fee
- $6.95 - $9.95
- Account Fee
- $0 if conditions met, otherwise $25/quarter
- FX Fee
- 0.1% - 1.6%
- Min. Deposit
- $0
- Available Asset Types
- Stocks, Bonds, Options, Mutual Funds, ETFs, GICs, Precious Metals, IPOs
Our verdict
Invest your way with access to many accounts and securities. But watch out for high fees.
Looking to try your hand at investing? RBC Direct Investing offers the comfort of investing on a platform backed by one of Canada's biggest banks. Benefit from robust research tools, plenty of learning resources and no minimum balance requirement.
It's easy for existing RBC customers to transfer between accounts, although you could pay lower fees with a discount brokerage.
Best for: Those who want an easy-to-use platform run by a Big Five Canadian bank.
Pros
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No minimum balance required
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Many investment and account types
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Pre-market and after-hours trading
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Demo account with $100,000 in fake funds to practice trading
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Easy transfers between RBC accounts
Cons
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Higher fees than some competitors
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Account maintenance fee for balances under $15,000
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Limited access to international markets
How we rated RBC Direct Investing features
| Fees | ★★★★★ | Higher-than-average trade commissions. Waived account fee with a minimum balance or when conditions are met. Free transfers to/from RBC accounts. |
| Available securities | ★★★★★ | Stocks, bonds, options, mutual funds, ETFs, GICs, IPOs and gold and silver certificates. |
| Customer support | ★★★★★ | You can reach out to customer by phone (Mon-Fri), email or mail. |
| Mobile app | ★★★★★ | The app receives some positive revies, but many users report glitches or inefficiencies in its design. |
| Research and tools | ★★★★★ | Advanced charting; news; insights from RBC Capital Markets, RBC Economics and more and analysis from sources like Morningstar, Thomson Reuters and Refinitiv. |
| Reliability | ★★★★★ | Some users report glitches. The mobile app is occasionally down for routine maintenance. |
To learn how our star ratings are calculated, read our methodology at the bottom of the page.
Who is RBC Direct Investing best for?
RBC Direct Investing is a good fit for beginners and experts alike. For investors that are just starting out, it offers a number of learning resources and an online practice account that will let you get used to the platform before you have to invest real money.For experts, it offers competitive prices through its active trader program. It also comes with access to a number of research tools so you can make the best investment choices for your needs.
What you can trade on RBC Direct Investing
- Stocks
- Bonds
- Options
- Mutual funds
- Exchange traded funds (ETFs)
- Initial public offerings (IPOs)
- Guaranteed Investment Certificates (GICs)
- Gold & silver certificates
Where RBC Direct Investing shines
RBC Direct Investing lets you manage your self-directed investment portfolio through an established, trusted Canadian bank. It offers access to a wide variety of securities. There’s no minimum balance requirement (although a fee will apply if your balance is below $15,000), and trading fees are discounted for active traders.Where RBC Direct Investing falls short
If you’re not already an RBC client and don’t want to become one, it’ll be tough to fund your RBC Direct Investing account. While RBC offers access to many types of accounts and investments, its fees run on the high side.
You could pay lower trading commissions with a discount brokerage. Plus, you’ll have to pay a quarterly fee of $25 to maintain your account if your balance is under $15,000. The RBC Mobile app gets many negative reviews for being glitchy and inefficiently designed.
RBC Direct Investing fees
| Minimum deposit | $0 |
| Annual fee | $0 if conditions met, otherwise $25/quarter |
| Stock, ETF and option trade fees | $6.95 to $9.95 (+$1.25 per option contract) |
| Inactivity fee | $0 |
| Transfer to other RBC accounts | $0 ($45 to wire funds to other Canadian or US financial institutions) |
| Outgoing account transfer fee | $150 |
Is RBC Direct Investing legit?
Yes, RBC Direct Investing is owned and operated by one of Canada’s Big Five banks. The bank is a member of the Canadian Investment Regulatory Organization (CIRO) as well as the Canadian Investor Protection Fund (CIPF). This means it’s well-regulated and your eligible deposits will be protected up to $1 million.
What research tools does RBC Direct Investing provide?
Depending on the type of investments you want to make, RBC offers a number of different research options, including:
- Technical analysis. Spot investment trends and find new investment opportunities with an extended body of in-depth research.
- Equity benchmarks. Get a detailed summary of the performance of stock market indices to help you make decisions.
- Interactive charting tool. Use this tool to identify historical trends and patterns for your investments.
- Stock screeners. Filter investments based on specific criteria to find opportunities that align with your goals.
RBC Direct Investing app (mobile and desktop)
Through RBC’s desktop app, you can investment research from industry-leading sources, view portfolio data and use RBC’s charting tools to dive into stock performance. The Investor’s Toolkit can help beginners figure out how to start using the platform.
Recent events like dividend announcements, earnings and 52-week highs and lows can help you understand the value of your securities. RBC’s portfolio analyzer makes it easy to see the diversification of your assets and align your investments with your risk tolerance.
View balances for all your RBC accounts, including your investment accounts, with the RBC Mobile app, available for Android and iOS. See the status of your orders and create watchlists to track securities you’re interested in.
RBC Direct Investing app store reviews
| Google Play app reviews | 2.4/5 stars based on 43.3K reviews |
| Apple App Store app reviews | 4.8/5 stars based on 209K ratings |
RBC Direct Investing customer support
Connect with RBC Direct Investing customer support by email or phone If you live in Toronto, Calgary, Vancouver or Montreal, you can visit an Investor Centre for in person support.
- Phone
How to open an RBC Direct Investing account
- Visit the RBC Direct Investing website, and select Open An Account.
- Provide your name and email address to create an account. Select the type of account you want to open.
- Verify your personal details using Interac’s verification service. This involves securely signing into your current online banking platform. Alternatively, apply in person at an RBC branch.
- Provide additional personal and financial information.
- Review and submit your application, and wait for RBC to review it.
- Once your application has been approved, load funds into your account and start trading.
Eligibility and required information
- At least the age of majority in your province or territory
- Valid phone number and residential and email address
- Existing bank account (preferably with RBC) to fund your account
- Valid Social Insurance Number (SIN)
How safe is RBC Direct Investing?
RBC Direct Investing follows a number of best practices to protect your personal data and money. These include encryption, secure login procedures and timed account logouts.Through RBC’s Online Security Guarantee, you’ll be fully reimbursed for any direct losses to your account due to unauthorized activity, provided you’ve met your responsibilities.
Compare RBC Direct Investing with other platforms
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★★★★★
Finder rating 3.7 / 5
Available Asset Types
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs, Precious Metals, IPOs
Stock Trading Fee
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Min. Deposit
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Signup Offer
Get 100 free trades when you open a CIBC Investor’s Edge account using promo code EDGE2425. Plus, get $200 or more cash back. Valid until March 31, 2025.
Interactive Brokers
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Questrade
★★★★★
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Available Asset Types
Stocks, Bonds, Options, Mutual Funds, ETFs, Forex, GICs, Precious Metals, IPOs
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Min. Deposit
$1,000
Signup Offer
How we rate trading platforms
★★★★★ 5/5 — Excellent
★★★★★ 4/5 — Good
★★★★★ 3/5 — Average
★★★★★ 2/5 — Subpar
★★★★★ 1/5 — Poor
For a complete breakdown of how we score each category, read the full methodology of how we rate trading platforms.
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