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
  • Great customer service
  • Easy account opening
  • Solid educational tools
  • Quick, relevant customer service
  • Easy account opening in some cases
  • High-quality educational tools
overall cons
  • Only Canadian and US markets covered
  • Mobile and web platform are outdated
  • Credit/debit cards and electronic wallets are not provided
  • Only US and Canadian markets covered
  • Lack of withdrawal/deposit options
  • Outdated mobile trading platform
fees
3.8
  • Low non-trading fees
  • Low stock and ETF fees
  • ~100 free ETFs
  • No mutual fund fees
  • High options fees
  • CAD 25 per quarter account fee
3.4
  • Low non-trading fees
  • No withdrawal fee
  • No mutual fund trading fee
  • Quarterly account fee
  • High Non-RBC Client Withdrawal Fee
account opening
4.4
  • Fully digital
  • No minimum deposit
  • Many account types
  • 2-3 business days account opening
  • Only available to clients with valid Canadian SIN
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
3.0
  • Free withdrawal
  • No deposit fee
  • User-friendly
  • Credit/Debit card not available
  • Electronic wallets not available
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
3.0
  • Clear fee report
  • Good search function
  • Good variety of order types
  • No 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
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
2.3
  • 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
  • News are quite basic
  • Basic charting tools
customer service
3.1
  • Phone support
  • Relevant answers
  • No live chat
  • No 24/7 support
  • Not 24/7
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 parent companies
  • 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, who focus on the Canadian and US markets
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