Compare Oanda vs RBC Direct Investing


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

Oanda vs RBC Direct Investing
overall rating
4.4
4.1
overall pros
  • Great trading platforms
  • Outstanding research tools
  • Fast and user-friendly account opening
  • Quick, useful customer service
  • Easy account opening in some cases
  • High-quality educational tools
overall cons
  • High forex fees
  • Only FX and CFD available
  • No stock exchange listing and banking background
  • Only US and Canadian markets covered
  • Lack of withdrawal/deposit options
  • Outdated mobile trading platform
fees
2.9
  • First credit/debit card withdrawal per month is free
  • High forex fees
  • High financing rate
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
4.4
  • Fully digital
  • No minimum deposit
3.9
  • Fully digital
  • No minimum deposit
  • Account opening complicated for non-RBC bank account holders
deposit and withdrawal
4.2
  • Credit/Debit card available
  • Free withdrawal
  • No deposit fee
  • High withdrawal fee for bank transfers and PayPal
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
4.5
  • User-friendly
  • Clear fee report
  • Two-step (safer) login
  • 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  • Outdated design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
5.0
  • User-friendly
  • Two-step (safer) login
  • Good search function
  • No Touch/Face ID login
0.7
  • Touch/Face ID login
  • Not user-friendly
  • No price alerts
  • Bugs
desktop trading platform
4.5
  • User-friendly
  • Clear fee report
  • Good customizability (for charts, workspace)
  • No price alerts
markets and products
1.6
  • Forex
  • CFD
2.3
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
research
5.0
  • Good interactive chart
  • Data on asset fundamentals
  • Quality news flow
  • Great API
  • No trading ideas
  • Research tools are poorly organized
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 24/7 support
4.5
  • Phone support
  • Live chat
  • Relevant answers
  • No 24/7 support
education
5.0
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Materials are not well-organized
4.0
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • No webinars
  • Majority of clients belong to a top-tier financial authority
  • Negative balance protection
  • Financial information is publicly available
  • Does not hold a banking license
  • Not listed on stock exchange
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • Banking background
  • No negative balance protection
recommended for Forex traders who value a user-friendly platform and great research tools Investors, including beginners, focusing on the Canadian and US markets
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