Compare Charles Schwab vs RBC Direct Investing


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

Charles Schwab vs RBC Direct Investing
overall rating
4.8
4.1
overall pros
  • Free stock and ETF trading
  • Outstanding research
  • Great customer service
  • Quick, useful customer service
  • Easy account opening in some cases
  • High-quality educational tools
overall cons
  • High fees for some mutual funds
  • Only US/Canada markets available
  • Only US and Canadian markets covered
  • Lack of withdrawal/deposit options
  • Outdated mobile trading platform
fees
4.4
  • Free stock/ETF trading
  • Some mutual funds and bonds are free
  • Low non-trading fees
  • High fees for non-free mutual funds
3.8
  • No mutual fund trading fee
  • No withdrawal fee for RBC clients
  • Quarterly account fee
  • High withdrawal fee for non-RBC clients
account opening
4.4
  • Fast
  • Fully digital
  • No minimum deposit
  • $25,000 minimum deposit for non-US clients
3.9
  • Fully digital
  • No minimum deposit
  • Account opening complicated for non-RBC bank account holders
deposit and withdrawal
2.2
  • No deposit fee
  • User-friendly
  • High fee for wire (bank transfer) withdrawals
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
4.3
  • User-friendly
  • Clear fee report
  • Price alerts
  • Limited customizability (for charts, workspace)
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  • Outdated design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
  • Touch/Face ID login
  • Order confirmation
  • No price alerts
0.7
  • Touch/Face ID login
  • Not user-friendly
  • No price alerts
  • Bugs
desktop trading platform
4.0
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Good variety of order types
  • Only for Windows
markets and products
3.3
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
  • Futures
2.3
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
research
4.3
  • Good interactive chart
  • Data on asset fundamentals
  • Trading ideas for stocks and ETFs
  • Hard to navigate among research tools
3.8
  • Trading ideas
  • Data on asset fundamentals
  • Baisc news feed
  • Basic charting tools
customer service
4.5
  • Phone support
  • Live chat
  • Fast response time
  • No email support
4.5
  • Phone support
  • Live chat
  • Relevant answers
  • No 24/7 support
education
4.5
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Not well-structured
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
  • Banking background
  • No negative balance protection
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • Banking background
  • No negative balance protection
recommended for Investors and traders looking for solid research, low fees and great customer service Investors, including beginners, focusing on the Canadian and US markets
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