RBC Direct Investing fees explained

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When trading or investing at an online broker, fees can have a big impact on your results, so it's good to know what kind of charges you'll be facing and how these compare to fees at other brokers.

If fees are your top concern, RBC Direct Investing is an OK choice, as it has average fees in general. Check our toplist for cheaper brokers.

I found RBC Direct Investing's trading fees fairly average

András Régely

Investments • Stock Market • Market Analysis

I've personally tested dozens of global brokers, carefully looking at their fees not just on their website but also in the course of live trading. Here's how RBC Direct Investing fared:

RBC Direct Investing charges average fees for trading stocks and ETFs.
There is no inactivity fee even if you leave your account idle for a long time.
The basic withdrawal fee is $0, but some transactions may cost more.
Read our full review of RBC Direct Investing for info on safety, trading platforms and funding.

RBC Direct Investing fees at a glance
Assets	Fee level	Fee terms
US stock fee	Average	CAD 9.95 per trade; CAD 6.95 if you make more than 150 trades per quarter
EURUSD fee	-	FX not available
US tech fund fee	Low	No fee
Inactivity fee	Low	No inactivity fee

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While some trading fees (e.g. for funds or bonds) are low, stock, ETF and options fees as well as margin rates at RBC Direct Investing are rather average compared with the competition.

Average stock and ETF commission

RBC Direct Investing's fee structure is mostly transparent. Stock, ETF and options fees are volume-tiered, and you get a discount after 150 trades per quarter.

RBC Direct Investing stock and ETF fees by market
	RBC Direct Investing RBC Direct Investing	Qtrade Direct Investing Qtrade Direct Investing	Questrade Questrade
US stock Estimated commission of a $2,000 trade, assuming a $50 stock price	$7.1 CAD 9.95 per trade; CAD 6.95 if you make more than 150 trades per quarter	$6.2 CAD 8.75 per trade (CAD 6.95 if you make 150+ trades per quarter or have a CAD 500k+ account balance)	$5.0 $0.01 per share, min $4.95, max $9.95; buying ETFs is free, selling costs $0.01 per share

Average margin rates

RBC Direct Investing annual margin rates
	RBC Direct Investing RBC Direct Investing	Qtrade Direct Investing Qtrade Direct Investing	Questrade Questrade
USD margin rate	9.5% Investment account: 8% annual financing rate for CAD accounts, while 9.5% for USD accounts	9.0% Base rate plus up to 1.25% markup, depending on your debit balance	12.3% Non-registered accounts: base rate + markup. Markup is 4.5% for debit balance below $100,000 and 3.5% for debit balance above

Average options commission

RBC Direct Investing stock index options commission
	RBC Direct Investing RBC Direct Investing	Qtrade Direct Investing Qtrade Direct Investing	Questrade Questrade
US stock index options Estimated commission for 10 contracts	$15.9 CAD 9.95 + CAD 1.25 per contract, if you have more than 150 trades per quarter then CAD 6.95 + CAD 1.25 per contract	$21.3 $8.75 flat fee and $1.25 per contract, but the flat fee is $6.95 if you trade 150+ per quarter or have at least $500k account balance	$20.0 $9.95 + $1 per contract

No inactivity fee, no withdrawal fee

It charges no inactivity fee and there is no withdrawal fee in some cases. However, there is an account management fee of CAD 25 per quarter if your account balance is below CAD 15,000, and the withdrawal fee can be quite high in certain cases (see below).

RBC Direct Investing inactivity, withdrawal and other fees
Broker	Inactivity fee	Withdrawal fee
RBC Direct Investing		$0
Qtrade Direct Investing		$0
Questrade		$0

Withdrawal fees vary widely based on whether you have an RBC bank account, which account type you choose and which withdrawal method you use. See the table below for details:

RBC Direct Investing withdrawal fees
Account type	With RBC bank account	Without RBC bank account
Margin, cash, RESP, TFSA accounts	Free	Cheque: CAD 10 Wire: CAD 45
RRIF account	Free up to 2 withdrawals, CAD 25 each after	Cheque: CAD 10 Wire: CAD 45
RRSP account	CAD 50 plus tax	Cheque: CAD 10 Wire: CAD 95
RRSP account under Home Buyer's Plan or Lifelong Learning Plan	CAD 25 plus tax	Cheque: CAD 10 Wire: CAD 95

Other commissions and fees

You can find RBC Direct Investing's fees for other asset classes below. Click 'Show more' for details.

Low mutual fund commission

Fees for a $2,000 fund purchase
	RBC Direct Investing RBC Direct Investing	Qtrade Direct Investing Qtrade Direct Investing	Questrade Questrade
Mutual fund Estimated commission of a $2,000 US domiciled fund trade	$0.0 No fee	$6.2 CAD 8.75 per trade (CAD 6.95 if you make 150+ trades per quarter or have a CAD 500k+ account balance)	$10.0 $9.95 per trade

Low bond commission

Fees for a $10,000 bond trade
	RBC Direct Investing RBC Direct Investing	Qtrade Direct Investing Qtrade Direct Investing	Questrade Questrade
US Treasury bond Estimated commission of a $10,000 US treasury bond trade	$17.8 Commission is included in the quoted price. Minimum commission: CAD 25 per transaction. Maximum commission: CAD 250 per transaction.	$25.0 $1 per $1,000 face value, $24.99 min and $250 max	$0.0 No fees, but minimum $5,000 purchase

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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.