Compare Alpaca Trading vs RBC Direct Investing


Online brokers compared for fees, trading platforms, safety and more. See how Alpaca Trading stacks up against RBC Direct Investing!

Alpaca Trading vs RBC Direct Investing
overall rating
4.6
4.1
overall pros
  • Great API trading service
  • Free stock & ETFs
  • Fantastic charting tools
  • Quick, relevant customer service
  • Easy account opening in some cases
  • High-quality educational tools
overall cons
  • Customer support limited to email
  • Limited deposit and withdrawal options
  • Only US stocks and ETFs available
  • Only US and Canadian markets covered
  • Lack of withdrawal/deposit options
  • Outdated mobile trading platform
fees
4.9
  • Commission-Free Stock and ETF Trading
  • No inactivity fee
  • No withdrawal fee
3.2
  • Low non-trading fees
  • No withdrawal fee
  • No mutual fund trading fee
  • Quarterly account fee
  • High Non-RBC Client Withdrawal Fee
account opening
4.8
  • Fast
  • Fully digital
  • No minimum deposit
  • Bit complex process for integrating third-party tools
3.9
  • Fully digital
  • No minimum deposit
  • No minimum deposit
  • Account opening is a bit complicated for non-RBC bank account holders
deposit and withdrawal
1.8
  • Free withdrawal
  • No deposit fee
  • User-friendly
  • Credit/Debit card not available
  • Only one account base currency
  • High withdrawal fee for wire transfers
2.4
  • Free withdrawal
  • No deposit fee
  • User-friendly
  • Credit/Debit card not available
  • Less withdrawal and deposit options if not a client of RBC bank.
web trading platform
3.7
  • User-friendly
  • Two-step (safer) login
  • Modern design
  • No price alerts
  • Limited customizability
  • Limited search function
2.9
  • Clear fee report
  • Price alerts
  • No two-step (safer) login
  • Limited customizability (for charts, workspace)
mobile trading platform
4.2
  • User-friendly
  • Two-step (safer) login
  • Order confirmation
  • Poor search function
  • No price alerts
  • No Touch/Face ID login
0.7
  • Touch/Face ID login
  • Not user-friendly
  • No price alerts
  • Bugs
desktop trading platform
  • Limited order types
markets and products
2.1
  • Stock
  • ETF
2.3
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
research
5.0
  • Access to highly functional API
  • Great charting tools
  • Data on asset fundamentals
  • No trading ideas
3.3
  • Trading ideas
  • Data on asset fundamentals
  • News are quite basic
  • Basic charting tools
customer service
1.9
  • Great Slack and community forums
  • Email support
  • No phone support
  • No live chat
  • Mediocre email support
4.5
  • Phone support
  • Live chat
  • Relevant answers
  • No 24/7 support
education
4.0
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • No webinars
4.0
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • No webinars
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • Does not hold a banking license
  • Not listed on stock exchange
  • Financial information is not publicly available
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • Banking background
  • No negative balance protection
recommended for Traders interested in algorithmic stock rading Investors, including beginners, who focus on the Canadian and US markets
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