RBC Direct Investing vs Royal compared

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

RBC Direct Investing
Royal
86.67% of retail CFD accounts lose money

Last update of dataDec 2022

RBC Direct Investing

RBC Direct Investing is a Canadian stockbroker regulated by the top-tier IIROC.

Recommended for investors, including beginners, focusing on the Canadian and US markets.

Royal

Royal is an Australian forex broker. It is regulated by many regulators globally, including the top-tier Australian ASIC.

Recommended for traders looking for low forex fees and preferring the MetaTrader platform.

RBC Direct Investing's service is on par with Royal's and a comparison of their fees shows that RBC Direct Investing's fees are similar to Royal's.

Account opening takes more effort at RBC Direct Investing compared to Royal, deposit and withdrawal processes are more complicated at RBC Direct Investing, while customer service quality is similar to Royal's.

Our experts rated the trading platform of RBC Direct Investing as less user-friendly than the platform of Royal, found that clients have access to slightly more markets and products with RBC Direct Investing, while Royal provides somewhat better research and education.

*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.

Basic data of broker

Overall Score
4.1

Recommended for Investors, including beginners, focusing on the Canadian and US markets

Overall Score
3.9

Recommended for Traders looking for low forex fees and preferring the MetaTrader platform

Country of origin

Canada

Country of origin

Australia

Fees

Fees score
3.4
Fees score
3.0
Fees summary

Average trading fees, low non-trading fees, free mutual fund investing

Fees summary

Low forex, but high CFD fees

Stock and ETF fees

Forex fees

Fund fees

Bond fees

Options fees

Futures fees

Crypto fees

CFD fees

Non-trading fees

Deposit and withdrawal

Deposit and withdrawal score
2.4
Deposit and withdrawal score
4.6
Number of base currencies

2

Number of base currencies

12

Deposit type

Withdrawal type

Account opening

Account opening score
3.7
Account opening score
5.0
Account opening fully online
Account opening fully online
Minimum deposit
*

$0

*
Minimum deposit
*

$50

*
Time to open account

1-3 days

Time to open account

1 day

Required documents

Social Insurance Number, Government ID, Proof of Income

Required documents

Proof of identity: valid passport or government ID, AND a driving license Proof of residency: utility bills, bank or credit card statement, tenancy contract or a residency certificate

Trading platform

Web platform score
2.9
Web platform score
2.8
Mobile platform score
0.7
Mobile platform score
3.8
Desktop platform score
-
Desktop platform score
3.4

Markets and products

Markets and products score
2.4
Markets and products score
1.8
Stocks
Stocks
Fractional shares
Fractional shares
ETFs
ETFs
Forex
Forex
Funds
Funds
Bonds
Bonds
Options
Options
Futures
Futures
Crypto
Crypto
*
*
CFDs
CFDs
CFD disclaimer

Disclaimer: 86.67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Research, education

Research score
4.0
Research score
4.5
Charting quality

Mid-range

Charting quality

Mid-range

Education score
4.0
Education score
3.0
Demo account
Demo account

Customer service

Customer service score
5.0
Customer service score
5.0
Phone
Phone
Live chat
Live chat
Email
Email
24/7 availability
24/7 availability

Security

Investor protection amount

CAD 1 million

Investor protection amount

€20,000 for clients under CySEC

Banking background
Banking background
Listed on stock exchange
Listed on stock exchange
Foundation date

1864

Foundation date

2006

Country of regulation

Canada

Country of regulation

Australia, Cyprus, Lebanon, Saint Vincent and the Grenadines, Vanuatu

RBC Direct Investing

For detailed information and hands-on experience, read our review of this broker.

Royal

For detailed information and hands-on experience, read our review of this broker.

*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

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