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Compare Questrade vs RBC Direct Investing


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

Questrade vs RBC Direct Investing
overall rating
4.5 / 5.0
4.1 / 5.0
overall pros
  • Solid research tools
  • Great desktop trading platform
  • Superb customer service
  • Quick, relevant customer service
  • Easy account opening in some cases
  • High-quality educational tools
overall cons
  • Slow account opening process for international customers
  • High inactivity fee
  • High withdrawal fee for non-Canadians
  • Only US and Canadian markets covered
  • Lack of withdrawal/deposit options
  • Outdated mobile trading platform
fees
3 stars
  • Low stock and ETF fees
  • Low fund fees
  • No withdrawal fee inside Canada
  • Inactivity fee
3 stars
  • Low non-trading fees
  • No withdrawal fee
  • No mutual fund trading fee
  • Quarterly account fee
  • High Non-RBC Client Withdrawal Fee
account opening
4 stars
  • Fast
  • Fully digital
  • User-friendly
  • Minimum deposit is higher than $500
  • Complicated for non-Canadians
4 stars
  • Fully digital
  • No minimum deposit
  • No minimum deposit
  • Account opening is a bit complicated for non-RBC bank account holders
deposit and withdrawal
3 stars
  • Free withdrawal
  • No deposit fee
  • User-friendly
  • Few base currencies
  • Credit/Debit card not available
  • Slow withdrawal - over 3 days
  • High fee for wire withdrawals
2 stars
  • 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 stars
  • User-friendly
  • Good variety of order types
  • Price alerts
  • No clear fee report available
  • No two-step (safer) login
  • Limited customizability (for charts, workspace)
3 stars
  • Clear fee report
  • Price alerts
  • No two-step (safer) login
  • Limited customizability (for charts, workspace)
mobile trading platform
4 stars
  • User-friendly
  • Good variety of order types
  • Price alerts
  • No two-step (safer) login
1 stars
  • Touch/Face ID login
  • Not user-friendly
  • No price alerts
  • Bugs
desktop trading platform
4 stars
  • User-friendly
  • Clear fee report
  • Good customizability (for charts, workspace)
  • No two-step (safer) login
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markets and products
4 stars
  • Stock
  • ETF
  • Forex
  • Fund
  • Bond
  • Options
  • CFD
2 stars
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
research
5 stars
  • Good interactive chart
  • Trading ideas
  • Data on asset fundamentals
  • Live streaming data only available for a paid subscription
3 stars
  • Trading ideas
  • Data on asset fundamentals
  • News are quite basic
  • Basic charting tools
customer service
5 stars
  • Phone support
  • Live chat
  • Fast response time
  • No 24/7 support
5 stars
  • Phone support
  • Live chat
  • Relevant answers
  • No 24/7 support
education
3 stars
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Structured educational section missing
4 stars
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • No webinars
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • CAD 10 million per account additional insurance
  • 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 Traders and investors focusing on the Canadian and US markets Investors, including beginners, who focus on the Canadian and US markets
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