Compare Qtrade vs RBC Direct Investing


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

Qtrade vs RBC Direct Investing
overall rating
4.3
4.1
overall pros
  • Low trading fees
  • Easy account opening
  • Solid educational tools
  • Quick, useful customer service
  • Easy account opening in some cases
  • High-quality educational tools
overall cons
  • Only Canadian and US markets covered
  • Outdated mobile and web platform
  • Credit/debit cards, e-wallets not accepted
  • Only US and Canadian markets covered
  • Lack of withdrawal/deposit options
  • Outdated mobile trading platform
fees
3.9
  • Low stock and ETF fees / Free stock trading
  • No mutual fund fees
  • Inactivity fee
  • Average options fees and margin rates
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
  • Fully digital
  • No minimum deposit
  • Many account types
  • Account verification a bit slow
  • Only available to clients with valid Canadian SIN
3.9
  • Fully digital
  • No minimum deposit
  • Account opening complicated for non-RBC bank account holders
deposit and withdrawal
3.0
  • Free withdrawal
  • No deposit fee
  • User-friendly
  • Credit/Debit card not available
  • Electronic wallets not accepted
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
3.0
  • Clear fee report
  • Good search function
  • Good variety of order types
  • No two-step (safer) login
  • Limited customizability (for charts, workspace)
  • Poor design
2.9
  • Clear fee report
  • Price alerts
  • No two-step (safer) login
  • Limited customizability (for charts, workspace)
  • Outdated design
mobile trading platform
2.5
  • Good search function
  • Good variety of order types
  • Order confirmation
  • No two-step (safer) login
  • 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
2.7
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
2.3
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
research
2.8
  • Trading ideas
  • Data on asset fundamentals
  • Limited interactive charting
  • No/limited set of analytic tools
3.8
  • Trading ideas
  • Data on asset fundamentals
  • Baisc news feed
  • Basic charting tools
customer service
3.1
  • Phone support
  • Relevant answers
  • No live chat
  • No 24/7 support
4.5
  • Phone support
  • Live chat
  • Relevant answers
  • No 24/7 support
education
4.0
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Not updated regularly
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
  • Solid ownership background
  • No negative balance protection
  • 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 Investors, including beginners, who focus on the Canadian and US markets Investors, including beginners, focusing on the Canadian and US markets
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