About RBC Royal Bank
RBC Direct Investing is the ultimate convenience play for millions of Canadians integrated into the Royal Bank ecosystem. It offers a seamless financial dashboard where self-directed investments sit immediately alongside daily chequing, allowing for frictionless, real-time money movement. RBC stands out by offering a fully functional 'Practice Account' with $100,000 in virtual funds, making it an exceptional training ground for market newcomers. Furthermore, the unique ability to pay for trade commissions using RBC Avion points adds significant value for loyal clients.
The Good
- CIRO & CIPF Regulated Dealer
- Includes a "Practice Account" with $100k fake money
- Seamless transfers with RBC Online Banking
- Extensive Morningstar research included
The Bad
- $9.95 standard commission is high
- No specific "Active Trader" platform software
Fee Structure
Updated 2026| Fee Type | Details | Cost |
|---|---|---|
|
Stock Trade Commission
|
Standard stock trades are $9.95. Drops to $6.95 for Active Traders (150+ trades/qtr).
|
$9.95 |
|
ETF Buy Commission
|
Standard ETF purchases are $9.95, though RBC offers a select list of 50+ $0 commission ETFs.
|
$9.95 |
|
ETF Sell Commission
|
Standard ETF sales are $9.95.
|
$9.95 |
|
Options Commission
|
Options are $9.95 base + $1.25/contract (Active Traders: $6.95 base + $1.25/contract).
|
$1.25 |
|
Mutual Fund Commission
|
No commission to buy/sell Mutual Funds.
|
$0 |
|
Inactivity / Low Balance Fee
|
$25/quarter maintenance fee. Waived if combined assets are $15k+, or if FHSA-only.
|
$25 |
|
Transfer Out Fee
|
$150 fee for full or partial account transfers out.
|
$150 |
|
Withdrawal Fee
|
$50 for RRSP/LIRA withdrawals. $25 for HBP/LLP. TFSA and FHSA withdrawals are $0.
|
$50 |
|
Broker-Assisted Trade Commission
|
$43 minimum commission for rep-assisted phone trades.
|
$43 |
Key Features
CIRO Member
CIRO-regulated dealer
Bank-Owned / Big 6
Backed by the financial stability, security, and integrated banking convenience of one of Canada's major banks.
U.S. Dollar (USD) Accounts
Hold US dollars natively in your account to avoid paying punishing currency conversion fees every time you trade US stocks.
Margin Trading
Borrow money against your existing portfolio to increase your buying power and potentially amplify your returns.
CIPF Protected
Your account is safeguarded by the Canadian Investor Protection Fund (CIPF) against the insolvency of the brokerage.
Mobile App (iOS & Android)
Manage your portfolio, execute trades, and monitor the markets on the go with a fully-featured mobile application.
Mutual Fund Trading
Access thousands of professionally managed mutual funds from leading financial institutions.
Options Trading
Trade options contracts to hedge your portfolio, generate income, or speculate on future price movements.
Practice Account / Demo Mode
Test your trading strategies and learn the platform interface using virtual money with absolutely zero financial risk.