Compare Merrill Edge vs RBC Direct Investing


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

Merrill Edge vs RBC Direct Investing
overall rating
4.8
4.1
overall pros
  • Low trading fees
  • Easy and seamless account opening
  • Strong parent company
  • Quick, relevant customer service
  • Easy account opening in some cases
  • High-quality educational tools
overall cons
  • Limited to US clients and products
  • No demo trading
  • Limited options to deposit/withdraw from accounts
  • Only US and Canadian markets covered
  • Lack of withdrawal/deposit options
  • Outdated mobile trading platform
fees
4.4
  • Low trading fees
  • Low non-trading fees
  • Low stock and ETF fees
  • High financing rate
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
5.0
  • Fast
  • Fully digital
  • No minimum deposit
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
2.2
  • Free withdrawal
  • No deposit fee
  • User-friendly
  • Credit/Debit card not available
  • Only one account base currency
  • Slow withdrawal - over 3 days
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
4.3
  • User-friendly
  • Clear fee report
  • Two-step (safer) login
  • Limited customizability (for charts, workspace)
2.9
  • Clear fee report
  • Price alerts
  • No two-step (safer) login
  • Limited customizability (for charts, workspace)
mobile trading platform
4.8
  • User-friendly
  • Two-step (safer) login
  • Touch/Face ID login
  • Poor search function
0.7
  • Touch/Face ID login
  • Not user-friendly
  • No price alerts
  • Bugs
desktop trading platform
markets and products
2.3
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
2.3
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
research
4.0
  • Trading ideas
  • Data on asset fundamentals
  • Quality news flow
  • Limited interactive charting
  • No/limited set of analytic tools
3.3
  • Trading ideas
  • Data on asset fundamentals
  • News are quite basic
  • Basic charting tools
customer service
4.5
  • Phone support
  • Live chat
  • No email support
4.5
  • Phone support
  • Live chat
  • Relevant answers
  • No 24/7 support
education
3.5
  • Trading platform tutorial
  • Educational videos
  • No demo account
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 who looking for low fees, quick account opening, and simple platforms Investors, including beginners, who focus on the Canadian and US markets
×