RBC GoSmart vs Direct Investing—what's the difference?

GoSmart is RBC's mobile-first platform for beginner investors. It offers limited commission-free trading of stocks and ETFs, as well as recurring investments in selected iShares ETFs. Direct Investing is RBC's full-suite investing platform for more experienced investors. It provides access to a much wider range of investment products, including options and bonds, as well as non-registered accounts, in-depth research and analysis tools, and multiple currencies.

Can I switch from a GoSmart account to an RBC Direct Investing account in the future?

Yes. If you want to upgrade to an RBC Direct Investing account to access a wider range of tradeable assets as well as more research and analysis tools, you can. There's no fee to do so, and your investments can be transferred in kind or as cash. You can arrange the transfer by contacting RBC via live chat or over the phone.

Can I trade US stocks and ETFs with US dollars on GoSmart?

No. GoSmart orders can only be settled in Canadian dollars. So while you can trade and hold US stocks and ETFs, RBC will convert your CAD into USD when you place a trade. RBC adds a spread to the exchange rate, so you'll need to compare the rate you get to the mid-market exchange rate to work out your currency conversion costs.

Can I open more than one type of registered account with GoSmart?

Yes, you can open multiple account types with GoSmart. So if you want to open a TFSA, an RRSP and a FHSA at the same time, you can.

Does RBC GoSmart support fractional shares?

No, GoSmart does not currently offer fractional share trading of US or Canadian stocks.

Tim Falk, Writer at Finder

Tim Falk

Writer

Tim Falk is a freelance writer for Finder. Over the course of his 20-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors.

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