My opinion on RBC
RBC (Royal Bank of Canada) stands as Canada’s largest financial institution, established in 1864 and trusted by millions of Canadians for banking and investing. RBC earns its rating due to top-tier IIROC and CDIC regulation, a highly secure environment, and a comprehensive suite of investment options (stocks, ETFs, mutual funds, bonds, options)—though it lacks direct CFD, forex, or crypto access. The standard $9.95 per trade fee is higher than discount brokers but comes with seamless integration for RBC clients, robust safety, free deposits, and multilingual support. The bank’s platforms are reliable and user-friendly for everyday investing, offering practical research tools and a demo account, though they lack advanced charting or automation features found on specialized trading platforms. Relative to its competitors, RBC is best for those valuing reliability and convenience over low-cost or advanced trading tools. Trustpilot reviews average 1.5/5 (2,000+ reviews), citing strong digital usability but some frustration over fees and service speed. Based on my experience, RBC is best suited for the following types of traders:
➡️ Conservative long-term investors: RBC appeals to those prioritizing institutional stability and full regulatory coverage (IIROC, CDIC), making it a reliable choice for building and holding diversified portfolios over time, particularly in registered accounts (RRSP, TFSA).
➡️ Existing RBC banking clients: Thanks to seamless integration between banking and investing, RBC is ideal for clients who want to manage their finances and investments within the same ecosystem—simplifying transfers, tax reporting, and account oversight.
➡️ Investors who value personalized service: While RBC’s $9.95 per trade fee is higher than discount brokers, it offers multilingual support, in-branch services, and access to research tools, which suit users who prefer human interaction and guided decision-making over DIY trading.
- ✅Highly regulated by IIROC and CDIC for Canadian investor protection
- ✅Integrated with RBC banking accounts for seamless transfers and convenience
- ✅Wide variety of instruments via self-directed platform (stocks, ETFs, options, mutual funds, bonds, GICs)
- ✅Free demo account for practicing and platform exploration
- ✅No minimum deposit for most accounts
- ✅User-friendly web and mobile platforms suitable for daily investing
- ✅24/7 customer support by phone, in-branch, and secure messaging (English and French)
- ✅Strong security protocols and established reputation
- ✅No annual fee for self-directed accounts; free deposits and ATM withdrawals within RBC network
- ❌No CFDs, forex, or direct crypto trading for retail clients
- ❌Relatively high per-trade fees ($9.95) compared to online-only brokers
- ❌Limited advanced trading tools: no desktop terminal, MT4/MT5, or native algo/copy trading
- ❌No access to leverage beyond 2:1 on margin stock accounts (limited compared to global standards)
- ❌No direct spot crypto, staking, crypto wallet, or lending features
- ❌Potential inactivity fee if account balance is low and no trades are made
- ❌Longer wait times for customer support during peak hours (as noted by users)
- ❌No swap-free/Islamic accounts available
Score- ✅Highly regulated by IIROC and CDIC for Canadian investor protection
- ✅Integrated with RBC banking accounts for seamless transfers and convenience
- ✅Wide variety of instruments via self-directed platform (stocks, ETFs, options, mutual funds, bonds, GICs)
- ✅Free demo account for practicing and platform exploration
- ✅No minimum deposit for most accounts
- ✅User-friendly web and mobile platforms suitable for daily investing
- ✅24/7 customer support by phone, in-branch, and secure messaging (English and French)
- ✅Strong security protocols and established reputation
- ✅No annual fee for self-directed accounts; free deposits and ATM withdrawals within RBC network
My opinion on RBC
- ✅Highly regulated by IIROC and CDIC for Canadian investor protection
- ✅Integrated with RBC banking accounts for seamless transfers and convenience
- ✅Wide variety of instruments via self-directed platform (stocks, ETFs, options, mutual funds, bonds, GICs)
- ✅Free demo account for practicing and platform exploration
- ✅No minimum deposit for most accounts
- ✅User-friendly web and mobile platforms suitable for daily investing
- ✅24/7 customer support by phone, in-branch, and secure messaging (English and French)
- ✅Strong security protocols and established reputation
- ✅No annual fee for self-directed accounts; free deposits and ATM withdrawals within RBC network
- ❌No CFDs, forex, or direct crypto trading for retail clients
- ❌Relatively high per-trade fees ($9.95) compared to online-only brokers
- ❌Limited advanced trading tools: no desktop terminal, MT4/MT5, or native algo/copy trading
- ❌No access to leverage beyond 2:1 on margin stock accounts (limited compared to global standards)
- ❌No direct spot crypto, staking, crypto wallet, or lending features
- ❌Potential inactivity fee if account balance is low and no trades are made
- ❌Longer wait times for customer support during peak hours (as noted by users)
- ❌No swap-free/Islamic accounts available
Score- ✅Highly regulated by IIROC and CDIC for Canadian investor protection
- ✅Integrated with RBC banking accounts for seamless transfers and convenience
- ✅Wide variety of instruments via self-directed platform (stocks, ETFs, options, mutual funds, bonds, GICs)
- ✅Free demo account for practicing and platform exploration
- ✅No minimum deposit for most accounts
- ✅User-friendly web and mobile platforms suitable for daily investing
- ✅24/7 customer support by phone, in-branch, and secure messaging (English and French)
- ✅Strong security protocols and established reputation
- ✅No annual fee for self-directed accounts; free deposits and ATM withdrawals within RBC network
Why trust Hellosafe?
I personally opened and traded through an RBC Direct Investing account so I could honestly answer the key questions Canadians have. My hands-on experience included testing the web and mobile platforms, making trades in stocks and ETFs, exploring the demo account, and working with both self-serve tools and customer support. I paid close attention to how straightforward the account setup was, how quickly trades executed, and how easy it was to access research and portfolio info.
Compared to other regulated brokers I’ve used in Canada, I found RBC to be exceptionally secure and reliable, with strong integration into their banking ecosystem. However, the trading fees are on the higher side and advanced charting or desktop tools that active traders might expect are missing. RBC’s platform is best for investors who want simplicity and peace of mind—especially if you’re already an RBC client or value being with a major Canadian bank.
All of my opinions come from real use, not advertising. I hope my review helps you decide if RBC fits your needs, especially in comparison to lower-cost or more feature-rich competitors.
RBC at a glance
| Fonctionnalité | Détail |
|---|---|
| 💰 Dépôt minimum | $0 for most accounts; generally no minimum for RBC Direct Investing |
| 🛡️ Régulation | OSFI (banking), IIROC & CIPF (Direct Investing), CDIC (banking deposits) |
| 🪙 Licence crypto | Not available; only indirect crypto via ETFs and mutual funds |
| 📄 Enregistrement FSMA | Not registered with FSMA; regulated exclusively in Canada |
| 📈 Actifs disponibles | Thousands: Canadian/US/international stocks, ETFs, mutual funds, bonds, options, GICs, index/sector funds |
| 📊 Plateformes de trading | RBC Direct Investing web platform, mobile app (iOS/Android), RBC Online Banking |
| 🛠 Outils de trading | Real-time quotes, portfolio analysis, research tools, watchlists, advanced order types, customizable dashboards |
| 🎮 Compte démo | Available (practice/demo account with virtual funds via RBC Direct Investing) |
| ☪️ Compte islamique | Not available |
| 📝 Ordres clés | Market, limit, stop-loss, stop-limit, trailing stop, conditional orders |
| ⚖️ Effet de levier | Up to 2:1 for margin (stocks, subject to IIROC rules); no leverage in registered or cash accounts |
| 💸 Frais | Stocks/ETFs: $9.95/trade ($6.95 for active traders); options: $9.95 + $1.25/contract; inactivity fee possible; FX 1.5%–2.5% |
| 📞 Support client | Phone (24/7 for banking), secure message, in-branch, live chat (limited); investment support during market hours |
| 🌟 Avis Trustpilot | 1.5 / 5 (2,000+ reviews, as of July 2025) |
Security & Regulation
RBC stands as one of the most secure and reliable options for Canadian investors seeking traditional banking and self-directed investment services. IIROC and CIPF membership underpin a stringent regulatory environment and provide up to $1 million account protection for investment portfolios, while RBC’s long history as the nation’s largest bank adds a further layer of trust and operational resilience. The platform’s close integration with core banking—combined with oversight by both OSFI (banking) and leading Canadian securities regulators—sets a very high bar in terms of transparency, systemic safeguards, and legal protections.
Funds are segregated according to Canadian regulatory requirements, and clients benefit from insurance provided by both CDIC (for deposits) and CIPF (for investments). Although RBC does not offer direct trading in CFDs, forex, or cryptocurrencies, this reduces risk and complexity for the average user. Standard risk management features—including stop loss and advanced order types—are available on the Direct Investing platform. Secure authentication (such as 2FA) is expected, though negative balance protection is, as elsewhere in Canada, not available for margin accounts.
RBC’s reputation spans generations, earning trust for stability, regulatory compliance, and full-service client support. The main drawback is its higher cost structure compared to online-only competitors and some limitations in platform sophistication for active trading, but for those who prioritize the safety of holding assets with a major Canadian bank, RBC remains exceptionally robust.
| Indicator | Description | Evaluation |
|---|---|---|
| Regulatory compliance | IIROC and CIPF member; OSFI-regulated bank; comprehensive Canadian and banking licenses | 5/5 |
| Fund security | Fully segregated funds, CIPF and CDIC protection, transparent custodianship | 5/5 |
| Risk management tools | Standard order types (stop loss, trailing stop), secure login, no negative balance protection for margin accounts | 4/5 |
| Notoriety and coverage | Largest Canadian bank, decades of client trust, national brand, extensive support network | 5/5 |
Fees, Spreads & Commissions
RBC’s fee structure reflects its position as a premium, full-service Canadian bank, focusing on traditional asset classes and conservative investors. Stock and ETF trades are subject to a $9.95 standard commission per online transaction, which is in line with other “Big Five” banks in Canada but notably higher than independent discount brokers or commission-free platforms. Active traders benefit from a slightly reduced rate of $6.95 per trade, though these savings are only accessible to clients meeting the higher trading thresholds.
For account-related charges, RBC stands out by eliminating annual or recurring maintenance fees for self-directed investment accounts, though clients should be mindful of inactivity fees if balances remain low and accounts are not used regularly. Withdrawal fees are generally nonexistent for regular transfers within Canada, but wire transfers or international withdrawals may incur extra costs. FX conversion is an area where hidden costs can accumulate: conversions are processed at 1.5%–2.5% above the interbank rate, which is typical for the industry but does add up for frequent cross-border trading in US securities.
RBC does not offer leveraged products such as CFDs or direct crypto trading; exposure to international markets, commodities, or crypto comes only via ETFs and mutual funds, which means there are no hidden overnight fees or spread markups on these assets. Telephone-assisted trades stand out for their high cost—a premium well above the digital rate—so the platform is best used digitally for cost-efficiency. I find the cost structure beneficial for clients prioritizing security, full-service banking, and integrated financial management, but less attractive for active traders looking for ultra-low commissions or more advanced trading features.
What are the account-related fees?
| Fee Type | Conditions at RBC | Market Average |
|---|---|---|
| Opening fee | $0 | $0–$50 |
| Maintenance fee | $0 (no annual fee for self-directed accounts) | $0–$100/year |
| Withdrawal fee | $0 (standard); $20–$40 for wires/international | $0–$25 |
| Inactivity fee | $25/quarter (applies to small/inactive accounts, conditions vary) | $10–$25/quarter |
| Currency conversion fee | 1.5%–2.5% above interbank rate | 1.5–2.5% |
Expert advice
Trader tip: If you regularly buy or sell US-listed assets, consider opening a US dollar–denominated investment account with RBC. This allows you to avoid repeat currency conversions on every trade and can significantly lessen FX fees over time.
What are the fees on stocks and ETFs?
RBC applies a $9.95 commission per trade for stocks and ETFs, matching most major Canadian banks but exceeding the cost of discount or fintech brokers. The real cost for most trades will simply be this fixed commission, alongside market-driven bid-ask spreads—there are no added platform markups or overnight/custody fees. UK stamp duty tax is only relevant if purchasing UK-listed securities, which is rare for most Canadian users.
| Fee Type | Conditions at RBC | Market Average |
|---|---|---|
| Commission | $9.95/trade ($6.95 for active traders) | $0–$9.99/trade |
| Spread fee | Exchange-driven, no platform markup | Exchange-driven |
| Overnight fee | $0 (not applicable for stocks/ETFs) | $0 |
| Custody fee | $0 | $0–$50/year |
| UK stamp duty tax | 0.5% (if UK stock, rarely applicable) | 0.5% (if UK stock) |
Assets & Markets
RBC stands out for offering a full spectrum of traditional investment assets, all within a secure and highly regulated environment. I appreciate the ease of direct access to thousands of Canadian and U.S. equities and a broad lineup of ETFs—including those tracking Canadian, U.S., and global markets. The platform also delivers access to mutual funds, GICs, and a sizable range of government and corporate bonds, which is important for building balanced, income-oriented portfolios.
One notable strength is the integration of banking and investing, streamlining both cash management and trade settlement for clients with existing RBC relationships. The presence of a practice (demo) account is a meaningful educational tool, allowing new investors to familiarize themselves with the interface and order types before committing capital.
For derivatives, RBC supports options trading on Canadian and U.S. stocks, giving investors a way to manage risk or generate additional income. However, the absence of forex trading, commodity spot markets, or CFD products clearly limits the flexibility for active traders and those pursuing global macro or short-term trading strategies. Cryptocurrency is not available natively, with only indirect exposure possible through listed ETFs or mutual funds. The platform does not offer NFTs, stablecoins, crypto staking, or any forms of DeFi or alternative assets.
Overall, RBC’s asset lineup is solid for Canadian investors who value trust, convenience, and the ability to manage multiple aspects of their financial life within a single institution. For those seeking commission-free trades or a wider array of global or alternative investments, platforms specializing in these areas will be more appealing.
| Asset Class | Type | Number at RBC | Market Average | Example Assets |
|---|---|---|---|---|
| Stocks | Spot | 3,000+ | 2,000–5,000+ | RBC, Shopify, Enbridge, Apple |
| ETFs | Spot | 1,000+ | 1,000–2,000+ | iShares S&P/TSX 60, BMO S&P 500, Vanguard FTSE |
| Cryptocurrencies | ETF only | 100+ crypto ETFs | 20–200 (direct/ETF) | Purpose Bitcoin ETF, Evolve Ether ETF |
| Currencies | – | Not offered | 20–80 | – |
| Commodities | ETF only | 50+ (commodity ETFs) | 50–300 | iShares Gold Bullion ETF, BMO Oil ETF |
| Indices | ETF only | 100+ (index ETFs) | 30–100+ | BMO S&P 500 ETF, iShares S&P/TSX Composite |
| Bonds | Spot | 500+ | 500–2,000+ | Government of Canada 10yr, RBC corporate bonds |
| Stablecoins | – | Not offered | 2–10 | – |
| NFTs | – | Not offered | 5–50 (crypto) | – |
| Other derivatives | Options | 100+ (equity options) | 100–500+ | S&P 500 call/put, TSX 60 index options |
Trading Tools and Apps
RBC Direct Investing’s platform suite offers a reliable gateway for Canadians focused on traditional wealth-building rather than speculative or high-frequency trading. The web interface, accessible from within classic RBC online banking, is clean, legible, and consistent, which benefits those who prioritize ease of use and account integration across chequing, savings, and investments. Portfolio insights, order tickets, and real-time balances are all just a click or tap away, suited to investors who value visibility and simplicity.
The RBC Direct Investing mobile app effectively mirrors the web experience, allowing secure access to balances, holdings, and trade execution from any device. Alerts, watchlists, account history, and document vaults can be managed on the go. The app’s stability and intuitive layout are ideal for tracking core investments, though frequent traders may find the lack of nuanced analytics and customization restrictive.
The lack of compatibility with MetaTrader, TradingView, or custom APIs places RBC’s platforms firmly in the traditional brokerage category. Technical charting is available, with built-in indicators and overlays sufficient for monitoring trends and support/resistance zones, but not for in-depth technical or algorithmic analysis. No auto-trading, scripting, or bots are available, so systematic traders will need to look elsewhere. Diversified order entry is supported, covering market, limit, stop, stop-limit, trailing stop, and conditionals, but advanced OCO or bracket orders are absent.
RBC does not offer access to CFDs, spot forex trading, or direct cryptocurrency investments; commodities and crypto exposure is only indirect via ETFs or mutual funds. Asset search and screeners work well for stocks, mutual funds, ETFs, and bonds. Staking, earning, or copy trading functionalities are not supported. For investors seeking branch access, stability, and integration with one of Canada’s biggest banks, the platform delivers—but more sophisticated traders may hit functional ceilings.
| Feature | Verified Details |
|---|---|
| Mobile app (MetaTrader, etc.) | Proprietary RBC Direct Investing mobile app (iOS/Android); no MT4/TradingView |
| Usability | Fluid, conventional, optimized for Canadian investors and beginners |
| Compatible software | RBC web, mobile apps only; no compatibility with MetaTrader, TradingView, or APIs |
| Order types | Market, limit, stop-loss, stop-limit, trailing stop, conditional |
| Charting and technical analysis | Built-in indicators and overlays; basic technical analysis, no advanced tools |
| Auto trading / Automated strategies | Not available; no bots, copy trading, or API integration |
| Algorithmic trading | Not supported; no scripting or custom coding options |
| Negative balance protection | Not applicable; no leverage for forex/CFDs/crypto |
| Trading signals | Not available within the platform |
| Asset search and filters | Responsive filters for listed stocks, ETFs, mutual funds, and bonds |
| Spot stock purchase | Yes; CAD, US, and select international equities |
| Staking and earn | Not available |
Trip
Use the RBC Direct Investing demo account to test-drive platform tools and become familiar with order types and portfolio tracking. Always activate two-factor authentication, routinely update security questions, and regularly review your standing orders to maintain strong risk control and account safety.
Account Opening & Deposits
Account opening
Opening an account with RBC—whether for personal banking or investing—can be started online or at any RBC branch. You’ll fill out a registration form with your personal and contact information, then submit to identity verification using a government-issued photo ID (such as a driver’s license or passport), and provide proof of address. If you open an investment account (like RBC Direct Investing), your Social Insurance Number (SIN) is required for tax and regulatory purposes, along with answers to a brief financial background and suitability questionnaire. You may need to upload supporting documents in digital format. Most applicants receive confirmation and account approval within one to two business days. Once validated, you’ll get a confirmation email with details on funding and account access.
Good to know
If you’re an existing RBC client, make sure to use the same contact details to streamline identity verification and link new accounts to your profile without delays.
| Item | Details |
|---|---|
| Opening procedure | Online or in-branch application, identity check, regulatory questionnaire, document upload |
| Validation time | Typically 1–2 business days |
| Accepted deposit methods | Interac e-Transfer, bank transfer, cheque, wire transfer, cash deposit |
| Minimum required deposit | $0 for most accounts; some investment products may require up to $1,000 |
| Required documents | Government-issued ID, proof of address, SIN (for investments) |
| Practical tip | Prepare clear digital copies of all documents before starting your application |
Deposits and withdrawals on RBC
Depositing funds into your RBC account is simple and efficient, with several methods to suit both day-to-day banking and self-directed investing. Deposit options include Interac e-Transfer for instant, fee-free transfers from Canadian banks, direct bank transfer, mobile or branch cheque deposit, wire transfer (for larger sums or international funding), and cash at an RBC branch or ATM. Withdrawals can be made via bank transfer, cheque, wire transfer, or instant ATM withdrawal. Most deposits and withdrawals are processed in Canadian dollars, though RBC also offers USD-denominated accounts. Fees are minimal; standard deposits and withdrawals are free, while non-RBC ATM and wire transfers may incur charges. RBC does not support funding by credit card, e-wallets, stablecoins, or direct crypto transfers, and does not provide a crypto wallet or fiat-to-crypto conversion. Exposure to cryptocurrencies is possible only through certain ETFs or mutual funds.
Good to know
For same-day access to funds, Interac e-Transfer and cash deposits are your fastest options. Wire transfers and cheques may take up to three business days to clear, so plan accordingly if timing is critical.
| Payment method | Accepted currencies | Minimum amount | Processing time | Possible fees |
|---|---|---|---|---|
| Credit card | Not available | – | – | – |
| Bank transfer | CAD, USD | $0 | 1–2 business days | None (sender’s bank may charge for wires) |
| E-wallets | Not available | – | – | – |
| Stablecoins/crypto | Not available | – | – | – |
| Interac e-Transfer | CAD | $0 | Instant | None |
| Cheque deposit | CAD, USD | $0 | 1–5 business days | None |
| Wire transfer | CAD, USD | Varies | 1–3 business days | Fees apply for both incoming and outgoing |
| Cash deposit | CAD, USD | $0 | Instant (branch/ATM) | None |
Account Types
RBC is Canada’s largest bank and a leading provider of self-directed investing and banking services for individuals and businesses. RBC is not a CFD/Forex broker, crypto platform, or hybrid provider; rather, its offering centers on traditional chequing, savings, and investment accounts, including tax-advantaged accounts like RRSPs and TFSAs via RBC Direct Investing. Clients benefit from IIROC and CIPF protection, a comprehensive selection of assets (stocks, ETFs, mutual funds, bonds, GICs, and options), web and mobile trading platforms, and robust, secure support across Canada. RBC does not offer CFDs, Raw ECN, Islamic, or any crypto accounts—crypto access is limited to crypto ETF products.
| Account type | Available (✅/❌) | Main features |
|---|---|---|
| Demo account | ✅ | Practice/training account available on RBC Direct Investing |
| Standard account | ✅ | Chequing, savings, and self-directed cash or margin accounts for everyday use and investing |
| Raw ECN account | ❌ | Not available; no direct market access for forex or equities |
| Islamic account | ❌ | Not offered; no swap-free or Shariah-compliant products |
| Professional account | ✅ | Business, corporate, and investment club accounts available |
| CFD account | ❌ | Not available; CFD trading is not supported |
| Classic securities account | ✅ | Direct access to Canadian and US stocks, ETFs, mutual funds, bonds, GICs, and options |
| Staking/earn account | ❌ | Not available; no direct crypto or staking services |
| Cold storage account | ❌ | No crypto wallet, card, or custody features |
| Tax-advantaged account | ✅ | TFSA, RRSP, RESP, RDSP, RRIF, LIRA, and similar registered accounts |
| Accepted base currencies | CAD, USD | Accounts and sub-accounts available in CAD and USD |
Trip
For new investors in Canada, starting with a tax-advantaged account like a TFSA or RRSP at RBC can provide long-term benefits and potential cost savings. If you regularly invest in US securities, consider a USD account to reduce conversion fees.
How does RBC compare to competitors?
| Feature | RBC | TD Direct Investing | Questrade | Wealthsimple Trade |
|---|---|---|---|---|
| Minimum deposit | $0 | $1,000 recommended | $0 | |
| Number of instruments | Thousands (Stocks, ETFs, Options, Mutual Funds, Bonds) | Thousands (Stocks, ETFs, Options, FX, CFDs, Crypto ETFs) | Thousands (Stocks, ETFs, select direct Crypto) | |
| Spreads (examples) | $9.99/trade (stocks/ETFs), no FX/CFD spreads | Stocks: $4.95–$9.95/trade, Free ETF buy, Forex from 0.8 pips | $0 commission on CAD stocks/ETFs, 1.5% FX fee on US trades | |
| Trading platforms | Web, Mobile App, thinkorswim (Desktop) | Web, Mobile App, IQ Edge (Desktop) | Web, Mobile App | |
| Regulation | IIROC, CIPF Member | IIROC, CIPF Member | IIROC, CIPF Member | |
| Demo account | ✅ | ✅ | ❌ | |
| Copy trading | ❌ | ❌ | ❌ | |
| Read the review | Read the review TD Direct Investing | Read the review Questrade | Read the review Wealthsimple Trade |
Customer reviews
RBC holds a Trustpilot rating of 1.5 out of 5, based on over 2,000 reviews. Les utilisateurs mettent en avant plusieurs aspects positifs de la plateforme, notamment :
- Easy-to-use online banking and investing platforms
- Strong branch network across Canada
- Wide selection of traditional investment products and accounts
- Reliable security and trust as a major bank
- Integrated services for existing RBC clients
En revanche, plusieurs points négatifs sont régulièrement évoqués dans les avis :
- Long wait times for customer service, especially by phone
- Higher trading fees compared to online competitors
- Issues with wire transfers and international transactions
- Occasional delays in resolving account issues
- Limited direct access to newer asset classes like crypto and forex
Voici quelques exemples représentatifs d’avis publiés sur Trustpilot :
- *i.A. – 09/06/2025 : “Long wait times for customer service, but the online banking app is easy to use.”*
- *l.F. – 22/05/2025 : “Fees are higher than some online banks, but I appreciate the branch network.”*
- *g.Y. – 14/04/2025 : “Had issues with a wire transfer, but the staff resolved it after a few calls.”*
FAQ
Is RBC regulated in CA?
Yes, RBC is highly regulated in Canada. Its banking operations fall under the oversight of the Office of the Superintendent of Financial Institutions (OSFI) and the Canada Deposit Insurance Corporation (CDIC), while RBC Direct Investing is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) and is a member of the Canadian Investor Protection Fund (CIPF).
What is the minimum deposit on RBC?
There is no minimum deposit required for standard chequing or savings accounts at RBC. For investment and brokerage accounts such as RBC Direct Investing, the minimum deposit can range from $0 to $1,000 depending on the specific account type, but many self-directed accounts have no mandatory minimum.
Does RBC offer a welcome bonus?
RBC occasionally offers cash bonuses or special incentives for opening new accounts or transferring assets, but these promotions vary throughout the year and are not guaranteed for all products. Prospective clients should check the RBC Direct Investing website for the latest offers before opening an account.
How does leverage work on RBC?
Leverage is available only through margin accounts, allowing retail investors to borrow up to 50% of eligible stock positions, following IIROC regulations. Registered accounts like RRSPs and TFSAs do not allow leverage. The use of leverage is subject to approval and market risk.
How does RBC make money?
RBC generates revenue through a combination of account fees, trading commissions, interest on margin loans, and currency conversion fees. Online trades in stocks and ETFs carry a flat commission, while other services such as wire transfers, mutual funds, and currency conversions have their own associated costs.
Who is behind RBC?
RBC is the Royal Bank of Canada, founded in 1864 and now one of the largest financial institutions in the country. Its direct investing division, RBC Direct Investing Inc., is a wholly owned subsidiary, serving retail and institutional clients nationwide.
When was RBC launched?
RBC was founded in 1864 in Halifax, Nova Scotia. RBC Direct Investing, its self-directed brokerage platform, was launched in the late 1990s to provide online investing services to Canadian clients.
Does RBC offer copy trading or social trading?
No, RBC does not offer copy trading, social trading, or managed account features through its direct investing platform. All trades must be placed by the client, although the platform provides market research and analysis tools to assist decision-making.
How can I contact RBC’s customer service?
RBC customer service can be reached by phone, secure online messaging through banking or investing platforms, in-branch assistance, live chat (during specific hours), or email for non-urgent inquiries. Phone banking is available 24/7, while investment support follows regular market hours.
Does RBC offer any promotions or referral programs?
RBC may feature limited-time promotions, such as cash bonuses for new accounts or referrals, but there is no year-round referral or cashback program for investment accounts. Clients should consult the official RBC website for current opportunities and eligibility requirements.
Is RBC regulated in CA?
Yes, RBC is highly regulated in Canada. Its banking operations fall under the oversight of the Office of the Superintendent of Financial Institutions (OSFI) and the Canada Deposit Insurance Corporation (CDIC), while RBC Direct Investing is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) and is a member of the Canadian Investor Protection Fund (CIPF).
What is the minimum deposit on RBC?
There is no minimum deposit required for standard chequing or savings accounts at RBC. For investment and brokerage accounts such as RBC Direct Investing, the minimum deposit can range from $0 to $1,000 depending on the specific account type, but many self-directed accounts have no mandatory minimum.
Does RBC offer a welcome bonus?
RBC occasionally offers cash bonuses or special incentives for opening new accounts or transferring assets, but these promotions vary throughout the year and are not guaranteed for all products. Prospective clients should check the RBC Direct Investing website for the latest offers before opening an account.
How does leverage work on RBC?
Leverage is available only through margin accounts, allowing retail investors to borrow up to 50% of eligible stock positions, following IIROC regulations. Registered accounts like RRSPs and TFSAs do not allow leverage. The use of leverage is subject to approval and market risk.
How does RBC make money?
RBC generates revenue through a combination of account fees, trading commissions, interest on margin loans, and currency conversion fees. Online trades in stocks and ETFs carry a flat commission, while other services such as wire transfers, mutual funds, and currency conversions have their own associated costs.
Who is behind RBC?
RBC is the Royal Bank of Canada, founded in 1864 and now one of the largest financial institutions in the country. Its direct investing division, RBC Direct Investing Inc., is a wholly owned subsidiary, serving retail and institutional clients nationwide.
When was RBC launched?
RBC was founded in 1864 in Halifax, Nova Scotia. RBC Direct Investing, its self-directed brokerage platform, was launched in the late 1990s to provide online investing services to Canadian clients.
Does RBC offer copy trading or social trading?
No, RBC does not offer copy trading, social trading, or managed account features through its direct investing platform. All trades must be placed by the client, although the platform provides market research and analysis tools to assist decision-making.
How can I contact RBC’s customer service?
RBC customer service can be reached by phone, secure online messaging through banking or investing platforms, in-branch assistance, live chat (during specific hours), or email for non-urgent inquiries. Phone banking is available 24/7, while investment support follows regular market hours.
Does RBC offer any promotions or referral programs?
RBC may feature limited-time promotions, such as cash bonuses for new accounts or referrals, but there is no year-round referral or cashback program for investment accounts. Clients should consult the official RBC website for current opportunities and eligibility requirements.
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