The best alternatives to RBC Direct Investing are
- Questrade - Canadian stockbroker
- Qtrade - Canadian stockbroker
- Interactive Brokers - US discount broker
- TradeStation - US stockbroker
Let's see in a bit more detail how the RBC Direct Investing alternatives compare to RBC Direct Investing and each other:
| RBC Direct Investing | Questrade | Qtrade | Interactive Brokers | TradeStation | |
|---|---|---|---|---|---|
| Overall score | 4.1 | 4.6 | 4.3 | 4.9 | 4.7 |
| Fees score | 3.4 stars | 3.7 stars | 3.8 stars | 4.1 stars | 4.1 stars |
| Account opening score | 3.9 stars | 3.8 stars | 4.4 stars | 3.4 stars | 5.0 stars |
| Deposit and withdrawal score | 2.4 stars | 2.7 stars | 3.0 stars | 3.5 stars | 2.3 stars |
| Web platform score | 2.9 stars | 3.8 stars | 3.0 stars | 4.5 stars | 4.5 stars |
| Markets and products score | 2.3 stars | 4.2 stars | 2.7 stars | 5.0 stars | 2.7 stars |
| Visit broker | Visit broker | Visit broker |
Why are these brokers considered good alternatives to RBC Direct Investing? There are many areas based on which RBC Direct Investing can be compared with others. When we say a given online broker is a good alternative to RBC Direct Investing we mean these brokers are comparable in the following areas:
- The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
- The type of clients they target, i.e. beginners, experienced investors, or day traders.
RBC Direct Investing alternatives recommendations
Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:
- RBC Direct Investing is recommended for investors, including beginners, focusing on the canadian and us markets
- Questrade is recommended for traders and investors focusing on the canadian and us markets
- Qtrade is recommended for investors, including beginners, who focus on the canadian and us markets
- Interactive Brokers is recommended for traders looking for low fees and a professional trading environment
- TradeStation is recommended for traders focusing on us markets and buy-and-hold investing
Important factors of finding RBC Direct Investing alternatives
So far BrokerChooser has reviewed 78 online brokers in detail, which gives this comparison a solid starting point.
Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we
- open a live account
- check over 100 criteria, with weighting based on readers' preferences
- refresh data regularly
Whether RBC Direct Investing or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:
Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. The amounts RBC Direct Investing charges you are considered average. When picking an alternative, you could prioritize brokers that are cheaper than RBC Direct Investing.
Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you cannot make a deposit with your credit card at RBC Direct Investing, some alternatives might allow you to do that.
Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.
Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given RBC Direct Investing alternative is a must.
Now let's dive into the details of how RBC Direct Investing and its alternatives perform in the most important areas!
RBC Direct Investing alternatives
RBC Direct Investing
RBC Direct Investing is the brokerage division of the Royal Bank of Canada, which was founded in 1864. It is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) and is a member of the Canadian Investor Protection Fund (CIPF).
RBC Direct Investing is considered very safe because it has a long track record, is listed on the stock exchange, has a banking background, discloses its financials and is regulated by a top-tier financial authority.
Recommended for investors, including beginners, focusing on the canadian and us markets
| 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 |
Fees
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.
| Pros | Cons |
|---|---|
| • No mutual fund trading fee | • Quarterly account fee |
| • No withdrawal fee for RBC clients | • High withdrawal fee for non-RBC clients |
| RBC Direct Investing | Questrade | Qtrade | Interactive Brokers | TradeStation | |
|---|---|---|---|---|---|
| US stock | $7.5 | $5.0 | $6.6 | $1.0 | $1.0 |
| UK stock | - | - | - | $7.8 | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k
Account opening
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.
| Pros | Cons |
|---|---|
| • Fully digital | • Account opening complicated for non-RBC bank account holders |
| • No minimum deposit |
| RBC Direct Investing | Questrade | Qtrade | Interactive Brokers | TradeStation | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $1,000 | $0 | $0 | $1 |
| Time to open account | 1-3 days | 1 day | 1-3 days | 1-3 days | 1 day |
Learn more about RBC Direct Investing minimum deposit here.
Deposit and withdrawal
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.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • User-friendly | • Fewer withdrawal and deposit options for non-RBC clients |
| • Free withdrawal for clients with RBC bank account |
| RBC Direct Investing | Questrade | Qtrade | Interactive Brokers | TradeStation | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | No |
| Electronic wallets | No | Yes | No | No | No |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
Web trading platform
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.
| Pros | Cons |
|---|---|
| • Clear fee report | • No two-step (safer) login |
| • Price alerts | • Limited customizability (for charts, workspace) |
| • Outdated design |
| RBC Direct Investing | Questrade | Qtrade | Interactive Brokers | TradeStation | |
|---|---|---|---|---|---|
| Web platform score | 2.9 stars | 3.8 stars | 3.0 stars | 4.5 stars | 4.5 stars |
| Mobile platform score | 0.7 stars | 4.8 stars | 2.5 stars | 3.8 stars | 4.8 stars |
| Desktop platform score | - | 4.3 stars | - | 3.0 stars | 2.5 stars |
Learn more about RBC Direct Investing's web trading platform in the detailed RBC Direct Investing review.
Markets and products
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.
| RBC Direct Investing | Questrade | Qtrade | Interactive Brokers | TradeStation | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | No | Yes | No | Yes | No |
| Fund | Yes | Yes | Yes | Yes | Yes |
| Bond | Yes | Yes | Yes | Yes | No |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | No | No | No | Yes | Yes |
| CFD | No | Yes | No | Yes | No |
| Crypto | No | No | No | Yes | Yes |
Verdict
RBC Direct Investing is regulated by the top-tier IIROC. Its parent company, the Royal Bank of Canada has a banking license and is listed on the stock exchange. It offers an easy, fully digital and fast account opening for clients who already bank with RBC. Education resources are outstanding, providing a lot of relevant and useful tools. Customer service provides fast and relevant answers.
There are some drawbacks, though. The product portfolio covers only the US and Canadian markets, you can't use credit/debit cards or electronic wallets for money transfer, and the mobile app is in desperate need of an update.
Overall, since RBC Direct Investing has great account opening, advanced research and education tools, feel free to give them a try.
| RBC Direct Investing | |
|---|---|
| Summary | RBC Direct Investing is a Canadian stockbroker regulated by the top-tier IIROC. |
| Fees score | 3.4 stars |
| Recommended for | Investors, including beginners, focusing on the Canadian and US markets |
RBC Direct Investing alternatives
Questrade
Questrade, founded in 1999, is one of the most popular brokerage firms in Canada. It is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) and is a member of the Canadian Investor Protection Fund (CIPF).
Questrade is considered safe because it has a long track record and is regulated by a top-tier regulator.
Recommended for traders and investors focusing on the canadian and us markets
| Pros | Cons |
|---|---|
| • Low stock and ETF fees | • Slow account opening for non-Canadians |
| • Solid research tools | • High withdrawal fee for non-Canadians |
| • Superb customer service | • Limited account base currencies |
Fees
Questrade has competitive fees for stocks, ETFs, funds and forex trading. However, CFD fees, as well as margin rates, are slightly at the higher end.
| Pros | Cons |
|---|---|
| • Low non-trading fees | • High CFD fees |
| • Low stock and ETF fees | • High margin rates |
| • Low fund fees |
| Questrade | RBC Direct Investing | |
|---|---|---|
| Apple benchmark fee | $10.2 | $15.3 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | $8.3 | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
For Canadian citizens, opening an account at Questrade is easy and fully digital. However, there is a high minimum deposit of $1,000.
| Pros | Cons |
|---|---|
| • Fast | • Minimum deposit is higher than $500 |
| • Fully digital | • Complicated for non-Canadians |
| • User-friendly |
| Questrade | RBC Direct Investing | |
|---|---|---|
| Minimum deposit | $1,000 | $0 |
| Time to open account | 1 day | 1-3 days |
If you are interested more in Questrade minimum deposit, this overview will help you.
Deposit and withdrawal
Deposits and withdrawals are free and user-friendly with electronic transfer for Canadians. However, the process is expensive for non-Canadians and credit/debit cards are not available.
| Pros | Cons |
|---|---|
| • Free withdrawal | • Credit/Debit card not available |
| • No deposit fee | • Slow withdrawal - over 3 days |
| • User-friendly | • High fee for wire withdrawals |
| Questrade | RBC Direct Investing | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | Yes | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
Questrade's web trading platform offers a simple, intuitive design, a wide variety of order types and price alerts. However, its customizability is limited and the fee reports are not clear.
| Pros | Cons |
|---|---|
| • User-friendly | • No clear fee report available |
| • Good variety of order types | • Limited customizability (for charts, workspace) |
| • Price alerts |
| Questrade | RBC Direct Investing | |
|---|---|---|
| Web platform score | 3.8 stars | 2.9 stars |
| Mobile platform score | 4.8 stars | 0.7 stars |
| Desktop platform score | 4.3 stars | - |
Learn more about Questrade's web trading platform in the detailed Questrade review.
Markets and products
At Questrade, you can trade almost all asset classes except futures and cryptos. The product portfolio covers only the US and Canadian markets, though.
| Questrade | RBC Direct Investing | |
|---|---|---|
| Stock | Yes | Yes |
| ETF | Yes | Yes |
| Forex | Yes | No |
| Fund | Yes | Yes |
| Bond | Yes | Yes |
| Options | Yes | Yes |
| Futures | No | No |
| CFD | Yes | No |
| Crypto | No | No |
Verdict
Questrade is among the fastest-growing online brokerage firms in Canada. Its stock and ETF fees are low, research tools are advanced and customer service is outstanding.
Questrade has some shortcomings as well. Even though the account opening process for Canadians is quick and easy, it's slow and time-consuming if you are not Canadian. You can face high withdrawal fees if you are not a Canadian citizen and there are only USD and CAD as account base currencies.
Since Questrade has advanced research tools and offers great customer service, feel free to give it a try.
| Questrade | |
|---|---|
| Summary | Questrade is a Canadian online brokerage firm. Questrade is a member of Canadian self-regulatory industry body IIROC and the Canadian Investor Protection Fund (CIPF). |
| Fees score | 3.7 stars |
| Recommended for | Traders and investors focusing on the Canadian and US markets |
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RBC Direct Investing alternatives
Qtrade
Qtrade is a Canadian stockbroker founded in 2000. It is regulated by the Investment Industry Regulatory Organization of Canada (IIROC).
Qtrade is considered safe because it has a long track record, offers high-level investor protection and is overseen by a top-tier regulator.
Recommended for investors, including beginners, who focus on the canadian and us markets
| Pros | Cons |
|---|---|
| • Low trading fees | • Only Canadian and US markets covered |
| • Easy account opening | • Outdated mobile and web platform |
| • Solid educational tools | • Credit/debit cards, e-wallets not accepted |
Fees
Qtrade charges low fees for stocks, ETFs, bonds and mutual funds, but options fees and margin rates are less impressive, and there is also a strict inactivity fee.
| Pros | Cons |
|---|---|
| • Low stock and ETF fees | • Inactivity fee |
| • No mutual fund fees | • Average options fees and margin rates |
| Qtrade | RBC Direct Investing | |
|---|---|---|
| Apple benchmark fee | $13.5 | $15.3 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
Qtrade has an easy and fully digital account opening process, with no minimum deposit and plenty of account types, but the account verification process is relatively slow.
| Pros | Cons |
|---|---|
| • Fully digital | • Account verification a bit slow |
| • No minimum deposit | • Only available to clients with valid Canadian SIN |
| • Many account types |
| Qtrade | RBC Direct Investing | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1-3 days | 1-3 days |
If you are interested more in Qtrade minimum deposit, this overview will help you.
Deposit and withdrawal
Qtrade offers user-friendly and free deposit and withdrawal. Unfortunately, your options for both are quite limited, as you can only use bank transfer.
| Pros | Cons |
|---|---|
| • Free withdrawal | • Credit/Debit card not available |
| • No deposit fee | • Electronic wallets not accepted |
| • User-friendly |
| Qtrade | RBC Direct Investing | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
Qtrade has a basic web trading platform, with solid search, alert and order functions and portfolio reports. However, there's no two-step login, and the design feels outdated.
| Pros | Cons |
|---|---|
| • Clear fee report | • No two-step (safer) login |
| • Good search function | • Limited customizability (for charts, workspace) |
| • Good variety of order types | • Poor design |
| Qtrade | RBC Direct Investing | |
|---|---|---|
| Web platform score | 3.0 stars | 2.9 stars |
| Mobile platform score | 2.5 stars | 0.7 stars |
| Desktop platform score | - | - |
Learn more about Qtrade's web trading platform in the detailed Qtrade review.
Markets and products
Qtrade covers only the Canadian and US markets. You can trade basic asset classes like stocks, ETFs or mutual funds, but forex, futures, CFDs and cryptos are not available.
| Qtrade | RBC Direct Investing | |
|---|---|---|
| Stock | Yes | Yes |
| ETF | Yes | Yes |
| Forex | No | No |
| Fund | Yes | Yes |
| Bond | Yes | Yes |
| Options | Yes | Yes |
| Futures | No | No |
| CFD | No | No |
| Crypto | No | No |
Verdict
Qtrade offers competitive stock, ETF, bond, and mutual fund fees. The account opening process is easy and fully digital. Qtrade's education resources are outstanding, with many relevant and useful tools.
Qtrade does, however, have its downsides. The biggest one is its product portfolio, which covers only the US and Canadian markets. Other areas for improvement include missing credit/debit card and e-wallet integration for money transfers, and some bugs in its user interfaces.
Since Qtrade has great trading fees, easy account opening and top-quality educational tools, feel free to give it a try today.
| Qtrade | |
|---|---|
| Summary | Qtrade is a Canadian stockbroker regulated by the top-tier IIROC. |
| Fees score | 3.8 stars |
| Recommended for | Investors, including beginners, who focus on the Canadian and US markets |
RBC Direct Investing alternatives
Interactive Brokers
Interactive Brokers was founded in 1978 and is one of the biggest US-based discount brokers. The broker is regulated by several financial authorities globally, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).
As it has licenses from multiple top-tier regulators, Interactive Brokers is considered safe. Having a long track record and publicly disclosed financials while being listed on a stock exchange are also great signs for its safety.
Recommended for traders looking for low fees and a professional trading environment
| Pros | Cons |
|---|---|
| • Low trading fees | • Complicated account opening process |
| • Wide range of products | • Complex desktop trading platform |
| • Many great research tools | • High forex fees |
Fees
Interactive Brokers has low trading fees; for US clients, stock and ETF trading is free. On the negative side, there is a high inactivity fee for non-US clients.
| Pros | Cons |
|---|---|
| • Low trading fees | • Inactivity fee |
| • Free stock and ETF trading for US clients | |
| • Low margin rates |
| Interactive Brokers | RBC Direct Investing | |
|---|---|---|
| Apple benchmark fee | $2.3 | $15.3 |
| Vodafone benchmark fee | $16.3 | - |
| EURUSD benchmark fee | $11.2 | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
IB's account opening process is fully digital and the required minimum deposit is low. On the negative side, the process is complicated, and account verification takes relatively long.
| Pros | Cons |
|---|---|
| • Fully digital | • Not user-friendly |
| • No minimum deposit for most account types | • Confusing messages throughout the process |
| Interactive Brokers | RBC Direct Investing | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1-3 days | 1-3 days |
If you are interested more in Interactive Brokers minimum deposit, this overview will help you.
Deposit and withdrawal
Interactive Brokers offers many account base currency options and one free withdrawal per month. The main drawback is that you can only use bank transfer.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Several account base currencies | |
| • First withdrawal each month free |
| Interactive Brokers | RBC Direct Investing | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
Interactive Brokers's web platform is simple and easy to use, even for beginners. On the negative side, it is not customizable.
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability (for charts, workspace) |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | RBC Direct Investing | |
|---|---|---|
| Web platform score | 4.5 stars | 2.9 stars |
| Mobile platform score | 3.8 stars | 0.7 stars |
| Desktop platform score | 3.0 stars | - |
Learn more about Interactive Brokers's web trading platform in the detailed Interactive Brokers review.
Markets and products
Through Interactive Brokers, you can access an extremely wide range of markets, and all product types are available.
| Interactive Brokers | RBC Direct Investing | |
|---|---|---|
| Stock | Yes | Yes |
| ETF | Yes | Yes |
| Forex | Yes | No |
| Fund | Yes | Yes |
| Bond | Yes | Yes |
| Options | Yes | Yes |
| Futures | Yes | No |
| CFD | Yes | No |
| Crypto | Yes | No |
Verdict
Interactive Brokers is one of the biggest US-based discount brokers, regulated by several top-tier regulators globally. We recommend this broker mainly for advanced traders.
On the plus side, IB has low fees, a vast range of available markets and products, and diverse research tools.
There are some drawbacks, though: there is a high forex fees, and the account opening process is complicated. The desktop platform is complex and hard to get a handle on, especially for beginners.
If you have experience navigating complex platforms and enjoy transparent, low-cost trading, Interactive Brokers could be a great fit for you.
| Interactive Brokers | |
|---|---|
| Summary | Interactive Brokers is a US discount broker. It is listed on a stock exchange and regulated by several authorities, including top-tier ones like the FCA and the SEC. |
| Fees score | 4.1 stars |
| Recommended for | Traders looking for low fees and a professional trading environment |
RBC Direct Investing alternatives
TradeStation
TradeStation is a US stockbroker founded in 1982. It is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Clients are eligible for up to $500,000 investor protection per account (including cash up to $250,000).
TradeStation is considered safe because it has a long track record; discloses its financials; and its parent company, the Monex Group, is listed on the Tokyo Stock Exchange.
Recommended for traders focusing on us markets and buy-and-hold investing
| Pros | Cons |
|---|---|
| • Great web and mobile trading platform | • Not user-friendly deposit and withdrawal |
| • Low stock and ETF fees | • No forex trading |
| • High-quality educational tools | • Mediocre customer service |
Fees
TradeStation has low trading fees, and you can choose from multiple fee structures. On the negative side, withdrawals can be costly.
| Pros | Cons |
|---|---|
| • Low trading fees | • Withdrawal fee |
| • Low stock and ETF fees | |
| • Multiple fee structures to choose from |
| TradeStation | RBC Direct Investing | |
|---|---|---|
| Apple benchmark fee | $2.3 | $15.3 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
TradeStation account opening is fully digital, user-friendly and fast. On the other hand, USD is the only available base currency (except for futures accounts).
| Pros | Cons |
|---|---|
| • Fast | • Only USD accounts (unless you trade futures) |
| • Fully digital | |
| • User-friendly |
| TradeStation | RBC Direct Investing | |
|---|---|---|
| Minimum deposit | $1 | $0 |
| Time to open account | 1 day | 1-3 days |
If you are interested more in TradeStation minimum deposit, this overview will help you.
Deposit and withdrawal
TradeStation's deposit and withdrawal functions are somewhat limited, as you can use only bank transfer; and the fee for wire transfer withdrawals is high.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Deposit and withdrawal in cryptocurrencies | • High fee for wire withdrawal |
| • Only USD accounts (unless you trade futures) |
| TradeStation | RBC Direct Investing | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
TradeStation has a nice-looking, user-friendly web trading platform with a safe login process, but it lacks price alerts.
| Pros | Cons |
|---|---|
| • User-friendly | • No price alerts |
| • Clear fee report | |
| • Two-step (safer) login |
| TradeStation | RBC Direct Investing | |
|---|---|---|
| Web platform score | 4.5 stars | 2.9 stars |
| Mobile platform score | 4.8 stars | 0.7 stars |
| Desktop platform score | 2.5 stars | - |
Learn more about TradeStation's web trading platform in the detailed TradeStation review.
Markets and products
TradeStation grants access to a wide variety of US products, but its non-US market coverage is poor. Also, forex and CFDs are not available.
| TradeStation | RBC Direct Investing | |
|---|---|---|
| Stock | Yes | Yes |
| ETF | Yes | Yes |
| Forex | No | No |
| Fund | Yes | Yes |
| Bond | No | Yes |
| Options | Yes | Yes |
| Futures | Yes | No |
| CFD | No | No |
| Crypto | Yes | No |
Verdict
TradeStation is a great US broker.
The web and mobile platforms are very user-friendly with many functions. It also offers low stock and ETF trading fees. On top of that, TradeStation's education materials are well-structured and high quality.
On the other hand, the deposit and withdrawal functions are not user-friendly as you can only use bank transfer. There is no forex trading, and customer service has room for improvement.
Feel free to try TradeStation if you prefer trading on US markets. We recommend it for buy and hold investors with at least some experience.
| TradeStation | |
|---|---|
| Summary | TradeStation is a US stockbroker regulated by FINRA, a top-tier US regulatory body. |
| Fees score | 4.1 stars |
| Recommended for | Traders focusing on US markets and buy-and-hold investing |
RBC Direct Investing alternatives
Bottom line
Based on our analysis, there are several good alternatives to RBC Direct Investing. They all offer similar products and target similar customers. Here's a recap of the results in a table.
| Broker | Info | Recommended for |
|---|---|---|
| RBC Direct Investing | Canadian discount stockbroker | Investors, including beginners, focusing on the Canadian and US markets |
| Questrade | Canadian stockbroker | Traders and investors focusing on the Canadian and US markets |
| Qtrade | Canadian stockbroker | Investors, including beginners, who focus on the Canadian and US markets |
| Interactive Brokers | US discount broker | Traders looking for low fees and a professional trading environment |
| TradeStation | US stockbroker | Traders focusing on US markets and buy-and-hold investing |
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