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Overview of RBC Direct Investing fees and charges

When it comes to brokerage fees RBC Direct Investing shows a mixed picture: some fees are high but some are low. First you need to figure out your approach or you should use our questionnaire to be able to tell whether RBC Direct Investing fees are an advantage for you. Continue reading about RBC Direct Investing fees and charges to see if this is the right brokerage for you or a similar broker like Questrade or Qtrade is better for you.

Here's a high level overview of RBC Direct Investing's fees

RBC Direct Investing Fees snapshot
Assets Fee level Fee terms
US stock fee Average CAD 9.95 per trade. If you trade 150+ per quarter, it's CAD 6.95
EURUSD fee - Not available
US tech fund fee Low CAD 0 per trade
Inactivity fee Low No inactivity fee

RBC Direct Investing fees
RBC Direct Investing fees explained

Online brokerages in general charge much lower brokerage fees than traditional brokerages do - this is largely due to the fact that online brokerages' businesses can be much better scaled: From a purely technical standpoint it doesn't make that much of a difference for them if they have 100 or 5000 clients.

This is not to say however that they don't have any fees at all. They make money by charging you at various events for various rates. Usually you need to keep an eye on these 3 types of fees:

  • Trading fees - these are brokerage fees that you pay when you actually do a trade, i.e. buying an Apple stock or an ETF. What you pay is either a commission, a spread or financing rate. Some brokers apply all of these.
    • A commission is either based on the traded volume or it is fixed.
    • A spread is the difference between the buy price and the sell price
    • Financing rate or overnight rate is charged when you hold your leveraged positions for more than one day.
  • Non-trading fees. These occur related to some operations you make in your account, i.e. depositing money to your account, withdrawing money from it or not trading for an extended amount of time.

We compare RBC Direct Investing fees with its closest competitors, Questrade and Qtrade.

RBC Direct Investing fees
RBC Direct Investing trading fees

RBC Direct Investing's trading fees are mid-tier which means you need to pay special attention to asset classes with high trading fees.

Let's break down the trading fees into the different asset classes available at RBC Direct Investing.

Trading fees

RBC Direct Investing's trading fees are average.

Stock fees and ETF fees

RBC Direct Investing has average stock trading fees.

Stock fees of a $2,000 trade
RBC Direct Investing Questrade Qtrade
US stock $7.5 $5.0 $6.6
UK stock - - -
German stock - - -

Fund fees

RBC Direct Investing fund fees are low.

A $2,000 fund buy fees
RBC Direct Investing Questrade Qtrade
Mutual fund $0.0 $10.0 $0.0
EU mutual fund - - -

Bond fees

RBC Direct Investing has bond fees.

Bond fees of a $10,000 trade
RBC Direct Investing Questrade Qtrade
US Treasury bond $18.8 $0.0 $18.7
EU government bond - - -

Options fees

RBC Direct Investing's options fees are high.

Stock index options fees of 10 contracts
RBC Direct Investing Questrade Qtrade
US stock index options $16.8 $20.0 $15.9
UK stock index options - - -
German stock index options - - -

Financing rates

RBC Direct Investing financing rates are .

If you want to trade on margin and prefer to hold your positions long, financing costs can be significant.

RBC Direct Investing yearly financing rates
RBC Direct Investing Questrade Qtrade
Apple CFD financing rate - 6.7% -
Vodafone CFD financing rate - 5.2% -
EURUSD financing rate - 3.9% -
EURGBP financing rate - 2.0% -

RBC Direct Investing fees
RBC Direct Investing non-trading fees

When it comes to looking at all the non-trading fees RBC Direct Investing is a cheap broker. This means that they don't charge you a lot for non-trading related activities on your trading account, like withdrawal fee.

Non-trading fees include various brokerage fees and charges at RBC Direct Investing that you pay not related to buying and selling assets. Among some others, typical non trading fees are withdrawal fee, deposit fee, inactivity fee and account fee.

A high level overview of how RBC Direct Investing stacks up in non-trading fees
RBC Direct Investing Questrade Qtrade
Withdrawal fee $0 $0 $0
Deposit fee $0 $0 $0
Inactivity fee No Yes No
Account fee Yes No Yes

RBC Direct Investing fees
RBC Direct Investing deposit fee

Deposit fees are applied when you send money to your trading account from your bank account. Usually brokers don't charge money for that and RBC Direct Investing is not different: you will see the exact same amount on your brokerage account that you sent by any of the deposit methods RBC Direct Investing offers.

RBC Direct Investing deposit methods
RBC Direct Investing Questrade Qtrade
Bank transfer Yes Yes Yes
Credit/Debit card No No No
Electronic wallets No Yes No
Deposit fee $0 $0 $0

RBC Direct Investing fees
RBC Direct Investing withdrawal fee

Unlike the majority of the online brokers we have reviewed RBC Direct Investing does not charge a withdrawal fee. This means that you'll see the same amount of money on your bank account that you transferred from your brokerage account.

RBC Direct Investing withdrawal fees and options compared
RBC Direct Investing Questrade Qtrade
Bank transfer Yes Yes Yes
Credit/Debit card No No No
Electronic wallets No Yes No
Withdrawal fee with bank transfer $0 $0 $0

RBC Direct Investing fees
RBC Direct Investing inactivity fee

RBC Direct Investing does not apply an inactivity fee which is great because your account will not be charged even if you do not trade for a longer time period (months or years).

Gergely Korpos

Gergely Korpos

Co-founder, CPO

Author of this article

Gergely's aim is to bring more clarity into personal investing. He has 10 years of experience in financial markets with GE Money, KPMG and MOL. He concluded thousands of trades as a commodity trader and financial portfolio manager

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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