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ONLINE BROKERAGE REVIEW

RBC Direct Investing Review 2022

Updated June 16, 2022

Quick Info

  • Standard Equity Commission
    $9.95
  • Best Commission Price
    $6.95
  • Minimum to Open Account
    Not Required
  • Maintenance/Inactivity Fees
    $25/Quarter
  • Commission-free ETF Trading
    No
  • Young Investor Offer
    Yes (students)

HIGHLIGHTS

3.5/5 (3)

RBC Direct Investing has been working toward improving the functionality, pricing, and features of their online trading platform. In 2014, they caused a major pricing shift amongst Canadian online brokerages by lowering their standard commission pricing to $9.95 per trade.

As a bank-owned brokerage, RBC Direct Investing offers the convenience of being able to manage multiple financial products via the RBC online platform. The integration with RBC banking plans may enable clients to avoid paying certain account fees at RBC Direct Investing.

Another thing that makes RBC Direct Investing stand out from their bank-owned online brokerage peers is their community feature. The community section allows comparison with other investors, provides educational support, and contains a moderated forum for asking questions to the community or RBC Direct Investing.

RBC Direct Investing Full Review

What Account Types does RBC Direct Investing offer?

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    Registered Accounts

    Non-Registered Accounts

Account Fees & Requirements for RBC Direct Investing

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    Registered Accounts

    Non-Registered Accounts

Trading Commissions & Fees provided by RBC Direct Investing

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RBC Direct Investing Rankings & Reviews for 2022

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  • Sorry, no data is available.

How can I contact RBC Direct Investing customer support?

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What do people think of RBC Direct Investing?

MystytheBasset
PersonalFinanceCanada
8/13/2022
Scotiabank is the worst. BMO and TD may edge out RBC, but those three have all been great. No experience with CIBC. My parents dealt with BMO, RBC, Scotiabank and TD. When mom died, Scotiabank was the WORST at 21 weeks for her estate compared to 3 days at BMO. And that's with both banks dealing with savings/chequing accounts and mom's RIF. At the 16 week mark, Scotiabank says that even though dad was listed twice in their system as her beneficiary, it wasn't done "correctly" so please sign this "do not sue us" form for it to get paid out to her estate. RBC and TD were both at about 2 weeks, and the online banks of Scotiabank iTrade and RBC Direct Investing were about 2 weeks. Later on, trying to get the Power of Attorney done by a lawyer registered.....big surprise, the advisor dad had at Scotiabank was allergic to it, and took me months to navigate that process. (Part of that due to my utter frustration at Scotiabank and not wanting to go in everyday and yell for service.) BMO had it done FAST. RBC....their process takes a bit, but at least both BMO and RBC were happy to help me. Now, I'm consolidating dad's banking down to 2 banks....and no surprise Scotiabank is the WORST at transferring funds out. Request went in 4 or 5 months ago for a transfer that never happened, and no communication to the receiving bank why it's being ignored or rejected or what. Request went in while I was still trying to navigate the PoA situation - that's now been resolved, and few days ago I was able to transfer the funds into dad's Scotia chequing account so now I can move it. TD was fast and helpful with transferring out and closing accounts....I'm almost sad to lose them as a bank.
Jesayeff
GME
8/13/2022
I can’t drs, I called bank yesterday, they need Verification of identity paper filled out in person at a the bank b4 I can drs, I don’t have any form of I’d requested on the paper.. expecting an update Monday in email if they can accommodate me in any way.. I have Id’s and papers that say I’m Canadian was born in Canada.. but it’s not enough for verification of ID for rbc direct investing,… ******* joke
PeaTearGriffindor
PersonalFinanceCanada
8/12/2022
They do all have issues, I’m not sure which is the worst as I do not have enough experience dealing with them all. I will say that while their “financial advisors” aka sleazy mutual fund salespeople have been a pain in the past, RBC’s online banking has made it incredibly easy and convenient for me to invest, both InvestEase and RBC direct investing have been great for me with my TFSA and index funds.
Guiseppie
Superstonk
8/12/2022
I JUST got off the phone with RBC Direct Investing and was advised that they CANNOT transfer from a TFSA account; the shares must be transferred to a regular account first and then DRS can be initiated. Keep in mind you have to make the request during market hours as they need the current trading price to initiate the transfer. Due to time zones and work hours conflict the agent I spoke to placed the request for me based on the current pre-market value; I was advised I should see the transfer to the offer account by Tuesday. DRS will take 6-8 weeks. Not expecting this to be smooth due to price fluctuations but I will see Tuesday.
Thunder_drop
GMECanada
8/11/2022
Straight from RBC: Transfer in-kind: this simply means transferring some or all of your investments to your RBC Direct Investing account(s) "as-is.” Only “like” accounts can be transferred into one another. For example, RRSP to RRSP, TFSA to TFSA, etc. Google: what's an in kind transfer. The only out of a tfsa to cash is to sell.