RBC Direct Investing is an online investment brokerage owned and run by the Royal Bank of Canada. It is designed for people primarily interested in managing their own investments. They offer flat fees for most typical trades, will cover up to $200 of transfer fees if you transfer more than $15,000 into your RBC Direct Investing account, and will do trades on your behalf for a commission.
There are a number of account types available, and a few different investment products. The website and app do not get very good reviews, unfortunately, so your mileage may vary.
RBC Direct Investing features
Let’s take a look at what RBC Direct Investing offers:
Why You Want It
No minimum investment required to start trading
Special Features
- Practice accounts to try out online investing risk-free
- Active Trader Program with reduced fees and better research and tools
- Royal Circle Membership with priority service, premium research, and preferred rates
Provinces
ALL
Features
Types Of Accounts
- TFSA
- RRSP
- RRIF
- RESP
- Cash
- Margin
- Non-Personal
- FHSA
- LIRA
Types Of Investments
- Stocks
- ETFs
- Options
- Mutual funds
- GICs
- Bonds
- New issues/IPOs
- Gold and Silver certificates
Minimum Investment
$0
Email Support
Live Chat Support
Phone Support
Minimum Stock Fee
$0
Maximum Stock Fee
$9.95
Minimum ETF Fee
$0
Maximum ETF Fee
$9.95
Active Trader Stock Fee Per Trade
$6.95
Cover Transfer Fees?
Minimum Deposit To Cover Transfer Fee
$15,000
Maximum Covered Transfer Fee
$200
Withdrawal Fees?
Account Maintence Fees
N/A
Inactivity Fee Amount
N/A
Promotion Description
N/A
Promotion Max Value
$10,000
Promotion Requirements For Max Value
$Invest $15,000 as a new client
Promotion End Dates
November 28, 2025
RBC Direct Investing product rating: 5.0 stars
We’ve given RBC Direct Investing 5.0 stars for a few reasons. It gained points because you need no minimum investment to get started, and there are some useful features and benefits for newbies, veterans, and very wealthy people alike.
On the other hand, RBC charges for all transactions, so you pay to buy and sell everything. And their fees are higher than discount online brokerages, but they also offer extras like market data. They also charge a quarterly maintenance fee, but that is relatively easy to get waived.
Rating methodology
To calculate our Genius Ratings, we compare the features of the account or product in question with other similar products in Canada. We give each feature a score out of 5 based on that comparison. Once we’ve rated all the features, we run them through our proprietary algorithm to produce a final rating out of 5.
Learn more about our rating methodology.
The pros of this RBC Direct Investing
Pros
No minimum investment required to get started
You can open an RBC Direct Investing account without putting any money into it at all. This gives you plenty of time to look around at the site and become familiar with it before transferring your assets in. You also won’t be charged a maintenance fee for the first 6 months so there’s no need to rush to get things moved around.
Practice accounts available to try before you buy
Even before opening an account, you can open a practice account to take the system for a test drive first to see if you like it. This is a very useful feature, particularly for people who don’t have a lot of experience with online investing, or with doing their own trades.
Lower commissions for people who do lots of trades
If you make more than 150 trades per quarter, this will also reduce the fees you pay significantly ($6.95 per ETF transaction, for example, instead of the regular $9.95).
Royal Circle Membership for high wealth investors
If your month-end RBC Direct Investing balance is at least $250,000 for 4 consecutive months, or if your annual trading commissions are greater than $5,000, you qualify for Royal Circle Membership. With this exclusive membership you’ll receive priority service, premium research, and preferred rates for investment borrowing. You’ll also be exempted from administration and maintenance fees.
The cons of this RBC Direct Investing
But there’s a “not so good” column as well.
Cons
Purchasing fee for ETFs
Some online brokerages allow you to purchase ETFs for free. RBC Direct Investing charges for every ETF purchase, however, which can really eat into your investment dollars. It encourages you to make fewer, larger purchases, rather than making lots of little purchases whenever you like. This is a significant issue for some people who prefer the latter.
$25 per quarter maintenance fee
By default, RBC Direct Investing charges a $25 maintenance fee per quarter. You can get this waived in a number of ways, such as having more than $15,000 invested, but if you’re not diligent, you’ll end up inadvertently paying this fee.
RBC Direct Investing alternatives
So how does RBC Direct Investing measure up to some of the competition?
 |  |  |  | |
|---|---|---|---|---|
| Account | RBC Direct Investing | BMO InvestorLine | Qtrade | CIBC Investor's Edge |
| Genius Rating | ||||
| Why You Want It | No minimum investment required to start trading | Flat $9.95 fee for most trades + Commision-free trades on popular ETFs. |  $80 GeniusCash + Ditch the fees, and trade unlimited Stocks, ETFs, Mutual Funds and more for $0 | Lowest commission rate from a Big 5 Bank online broker + Free trading under 25. |
| Types Of Accounts |
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| Types Of Investments |
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| Minimum Investment | $0 | $0 | $0 | $0 |
| Email Support | | | | |
| Live Chat Support | | | | |
Show More | ||||
| Open an account See more RBC products Compare | Open an account See more BMO products Compare | I Want This Deal See more Qtrade products Compare | Open an account See more CIBC products Compare |
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RBC Direct Investing FAQs
Does RBC Direct Investing charge any fees?
You will pay a variety of fees if you have an RBC Direct Investing account. While there are ways to get it waived, there's a $25 maintenance fee charged every quarter. You'll also pay various fees for every trading transaction, and most transfers and withdrawals.
What types of accounts does RBC Direct Investing have?
You can open a variety of registered and non-registered accounts with RBC Direct Investing. This includes a standard cash or margin account, as well as a TFSA, FHSA, RRSP, RESP, and RRIF.
Does RBC Direct Investing cover transfer fees?
If you transfer more than $15,000 into your account, they'll reimburse up to $200 of related fees.
Disclaimer
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Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
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