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Written by: Oskar G. Updated: Dec 2022
Expert verified
Recommended for
  • beginners
Trusted broker
Regulated by top tier financial authorities
Popularity
274 people chose this broker in the last 6 months
BrokerChooser Score
4.1/5

RBC Direct Investing review summary

RBC Direct Investing is a Canadian stockbroker regulated by the top-tier IIROC. RBC Direct Investing is an established company with a banking background and fast account opening for RBC banking clients. Customer service is reliable and quick, while education resources are also great, covering a lot of tools, including a demo account. It is a good choice for beginner investors. RBC Direct Investing's most obvious weakness is its outdated mobile trading app. Also, the product portfolio covers only the US and Canadian markets, and withdrawal and deposit options are limited. BrokerChooser gave RBC Direct Investing a 4.1/5 rating based on analyzing 500+ criteria and testing via opening a live account.

RBC Direct Investing is a regulated broker, it is overseen by a top-tier financial regulator in Canada . RBC Direct Investing is also covered by investor protection and it offers negative balance protection in selected jurisdictions. We at BrokerChooser always test brokers with real money, including the withdrawal process.

You can't open an account at RBC Direct Investing if you live in United States. See the best alternative available in your country.

RBC Direct Investing pros and cons

Pros Cons
Quick, useful customer service Only US and Canadian markets covered
Easy account opening in some cases Lack of withdrawal/deposit options
High-quality educational tools Outdated mobile trading platform

RBC Direct Investing main highlights

🗺️ Country of regulation Canada
💰 Trading fees class Average
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $0
🕖 Time to open an account 1-3 days
💳 Deposit with bank card Not available
👛 Depositing with electronic wallet Not available
💱 Number of base currencies supported 2
🎮 Demo account provided Yes
🛍️ Products offered Stock, ETF, Fund, Bond, Options

RBC Direct Investing review
Fees

3.4
RBC Direct Investing has no mutual fund fees and low non-trading fees. However, withdrawals are only free for RBC banking clients, while there is also an account fee under a certain account balance.
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RBC Direct Investing review
Account opening

3.7
RBC Direct Investing has an easy, fully digital and fast account opening, with no minimum deposit. However, account opening for non-RBC bank clients is more complicated.
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RBC Direct Investing review
Deposit and withdrawal

2.4
Withdrawals and deposits are free if you have a bank account with RBC. On the other hand, credit/debit cards and electronic wallets are not available and most withdrawal options carry a fee if you are not an RBC bank client.
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RBC Direct Investing review
Web trading platform

2.9
RBC Direct Investing does a great job of covering the basics, and has clear fee reports. On the other hand, there is no two-step login and the design feels outdated.
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RBC Direct Investing review
Mobile trading platform

0.7
RBC Direct Investing's mobile app is outdated, has limited functionality, and numerous bugs and freezing issues. On the plus side, there is biometric authentication for Face/Touch ID.
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RBC Direct Investing review
Desktop trading platform

RBC Direct Investing does not provide a desktop trading platform.
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RBC Direct Investing review
Markets and products

2.4
You can trade multiple asset types, but some important ones like forex or CFDs are not available. The offering is also limited to the Canadian and US markets.
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RBC Direct Investing review
Research

4.0
RBC Direct Investing offers many useful research tools on a user-friendly interface. However, the available charts and news are quite basic.
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RBC Direct Investing review
Customer service

5.0
RBC Direct Investing has great email and live chat support, providing fast and relevant answers. On the other hand, phone support is a bit slow and there is no 24/7 availability.
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RBC Direct Investing review
Education

4.0
You can use a lot of educational resources, including tutorials and educational videos, and users can also try out a demo account. One useful resource that is missing is webinars.
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RBC Direct Investing review
Safety

Backed by its parent, the Royal Bank of Canada, which has a long history of banking and is publicly listed, RBC Direct Investing is considered to be safe. It is also regulated by a top-tier financial authority.
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RBC Direct Investing review
Bottom line

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RBC Direct Investing review
FAQ

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Author of this review

Oskar Golebiowski

Author of this review

Oskar's goal is to bring transparency to investors in the Canadian stock brokerage market. With a bachelor’s degree in finance and over 3 years of business experience, Oskar has tested many different investing platforms in the past. His aim is to provide unbiased and honest reviews of the best tools available to Canadian investors.

Oskar Golebiowski

Canadian broker expert

Oskar's goal is to bring transparency to investors in the Canadian stock brokerage market. With a bachelor’s degree in finance and over 3 years of business experience, Oskar has tested many different investing platforms in the past. His aim is to provide unbiased and honest reviews of the best tools available to Canadian investors.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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