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 & ETF trading
  • Fantastic charting tools
  • Quick, useful 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  • Outdated mobile trading platform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
3.4
  • No mutual fund trading fee
  • No withdrawal fee for RBC clients
  • Quarterly account fee
  • High withdrawal fee for non-RBC clients
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
  • Account opening 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
  • No deposit fee
  • User-friendly
  • Free withdrawal for clients with RBC bank account
  • Credit/Debit card not available
  • Fewer withdrawal and deposit options for non-RBC clients
web trading platform
3.7
  • User-friendly
  • Two-step (safer) login
  • Modern design
  • Poor search function
  • Limited customizability (for charts, workspace)
  • No price alerts
2.9
  • Clear fee report
  • Price alerts
  • No two-step (safer) login
  • Limited customizability (for charts, workspace)
  • Outdated design
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
markets and products
2.0
  • 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
3.8
  • Trading ideas
  • Data on asset fundamentals
  • Baisc news feed
  • Basic charting tools
customer service
1.9
  • Great Slack and community forums
  • 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 trading Investors, including beginners, focusing on the Canadian and US markets
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