RBC Direct Investing Review for April 2021 | Finder Canada
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RBC Direct Investing review

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Get decent commissions and benefit from industry-leading research tools with RBC’s user-friendly online trading platform.

You can buy and sell a number of different investments, from equities and mutual funds to options and fixed income securities.

Please note: All information about RBC Direct Investing has been collected independently by Finder and this product is not available through this site.

Looking to try your hand at buying and selling investments? RBC Direct Investing offers an intuitive online trading platform that could be a good fit for you. This platform offers a number of different investment products as well as several industry-leading research tools.

You can sign up to start trading quickly and easily by filling out an online application. From there, you’ll be able to log in to your account to watch a number of tutorials on how to use the software most effectively.

Quick take

  • Think about this platform if you want to trade with convenient and easy-to-use software operated by a Big Five Canadian bank.
  • Choose something else if you’re not very comfortable with working online or you want your portfolio to be managed by a dedicated advisor.

What investments does RBC Direct Investing offer?

RBC Direct Investing offers a number of investment options in registered, non-registered and non-personal accounts. These include the following:

  • Equities. Buy stocks for publicly-listed companies and earn extra income if you get the option to collect dividends (which are shares of company revenue).
  • Exchange traded funds. Purchase ETFs to lock in an easy-to-manage investment that’s similar to a mutual fund, except it can be traded on the stock market.
  • Mutual funds. Invest in a laundry list of mutual funds that are designed to let you pool your money with other investors to bring your costs down.
  • Options. Speculate on how an entity or asset will perform on the stock market and make money if you correctly estimate stock prices by a certain date.
  • Fixed income securities. Collect a set interest rate from fixed income securities like bonds or guaranteed investment certificates.

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 software before you have to invest real money.

For experts, it offers competitive prices for its active trading program. It also gives you access to a number of research tools so that you can make the best investment choices for your unique set of needs.

How easy is RBC Direct Investing to use?

RBC Direct Investing is fairly simple to use, once you get used to the visual layout of the online platform. To get started, you might want to check out a tutorial on how to run the software most effectively. This will give you an idea of how to buy and sell your investments and get the most out of your trades.

It’s easy to sign up for an account online or through an RBC branch. You’ll also have the option to download a practice account so that you can get the hang of the software before you risk putting up real money.

What research does RBC Direct Investing provide?

RBC offers a number of different research options, depending on what type of investments you want to make. These include the following:

  • Technical analysis. Spot investment trends and find new opportunities to invest with an extended body of in-depth research.
  • Equity benchmarks. Get a detailed summary on the performance of stock market indices to help you make your stock decisions.
  • Interactive charting tool. Use this tool to help identify historical trends and patterns for your investments.
  • Stock screeners. Screen hundreds of investments based on specific criteria to find the investment that’s the best match for your unique set of needs.

Pricing and fees

You’ll pay a different amount for trades based on what type of investments you’re buying and selling. Some examples of the fees you’ll pay by trade are listed below:

Type of investment

Price for trade

Equities

$6.95 to $9.95

Exchange traded funds

$6.95 to $9.95

Mutual funds

$0 (but early redemption fees may apply)

Options

$6.95 to $9.95 (+$1.25 per contract)

Bonds

Commission of $25 - $250 per transaction

Precious metals

$28.95 + a variable amount per ounce

Is RBC Direct Investing safe?

RBC Direct Investing is a very secure way to invest your money. This is because it’s owned and operated by one of Canada’s Big Five banks. The bank is a member of the Investment Industry Regulatory Organization of Canada (IIROC) as well as the Canadian Investor Protection Fund (CIPF). This means it’s well-regulated and your deposits will be protected up to $1 million.

How does RBC Direct Investing keep my money safe?

RBC Direct Investing has a number of policies and procedural safeguards to protect your money. It offers deposit insurance and has rigorous data management protocols to make sure that your personal information and investment history remain secure.

Pros and cons

Pros

  • Easy application. You’ll be able to open an account in a matter of minutes if you’re an RBC customer (though it might take longer if you don’t have an RBC bank account).
  • Many account types. There are a number of registered and non-registered accounts that you can invest in (including TFSAs, RRSPs or RESPs, cash and margin accounts).
  • Many investment types. You can buy and sell a number of different investments, from equities and mutual funds to options and fixed income securities.
  • Wealth of research tools. You’ll be able to access top-rated research tools to inform your investment decisions.
  • Top-rated customer service. You can reach out to RBC’s customer service department to get help with your accounts or investments.
  • Practice account. It’s possible to download a practice account to get familiar with the software before you start moving real funds around.

Cons

  • Higher fees. RBC Direct Investing charges a flat fee of $9.95 per trade, which is high by industry standards (though you'll get lower fees if you're an active trader)
  • Quarterly fee. You'll have to pay a quarterly fee of $25 to maintain your account unless you keep your account balance above $15,000
  • Less dedicated financial support. You won’t have a dedicated portfolio manager assigned to your account to help you pick the best investments.

How do I sign up?

If you think you meet all the eligibility criteria and you’re ready to start investing with RBC Direct Investing, you just need to follow the steps below:

  1. Use the online application to provide personal information like your name, email address, proof of ID and relevant documents.
  2. Review and submit your application.
  3. Get verified and load funds into your account to start trading.

How do I contact RBC Direct Investing support?

You’ll be able to contact RBC Direct Investing by calling its customer service line at 800-769-2560. You’ll also be able to fill out an online form on the contact page for RBC Direct Investing. You can also visit a branch to speak to an agent if you want more information about your account.

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Bottom line

RBC Direct Investing is a popular online trading platform operated by one of Canada’s Big Five banks. It offers a number of different account types and investment products, depending on your preferences and level of expertise in investing. Find out more about how this platform works and sign up for your account today to start investing.

Frequently asked questions

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.
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