Personal Finance

RBC Direct Investing $9.95 flat per trade for all investors

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  • Jan 25th, 2014 11:55 am
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[OP]
Sr. Member
Sep 21, 2006
581 posts
137 upvotes

RBC Direct Investing $9.95 flat per trade for all investors

http://www.rbcdirectinvesting.com/servi ... 31CD3681A0

No Minimum Account Balance:
Pay $9.95 per trade, regardless of how much money you have in your account.(1)

No Trade Activity Required:
Trade as often as you want per quarter and pay only $9.95 per trade. (Active traders still pay just $6.95 flat with 150 or more trades per quarter.)(1)

No Expiry Date:
Enjoy this new lower flat rate pricing for all your online and mobile trades without the restriction of a limited time offer.
51 replies
Deal Addict
User avatar
Jan 28, 2012
1741 posts
608 upvotes
bluexcrush wrote: http://www.rbcdirectinvesting.com/servi ... 31CD3681A0

No Minimum Account Balance:
Pay $9.95 per trade, regardless of how much money you have in your account.(1)

No Trade Activity Required:
Trade as often as you want per quarter and pay only $9.95 per trade. (Active traders still pay just $6.95 flat with 150 or more trades per quarter.)(1)

No Expiry Date:
Enjoy this new lower flat rate pricing for all your online and mobile trades without the restriction of a limited time offer.
It's about time the big banks start making their trading costs more reasonable.

They will never be as cheap as questrade/IB/VB type brokers but at least getting below $10 per trade without a bunch of account size restrictions is a start.

Hopefully the others follow the lead and this becomes the norm.
Deal Addict
User avatar
Jan 14, 2012
1259 posts
286 upvotes
Woodbridge
Rhaegar wrote: It's about time the big banks start making their trading costs more reasonable.

They will never be as cheap as questrade/IB/VB type brokers but at least getting below $10 per trade without a bunch of account size restrictions is a start.

Hopefully the others follow the lead and this becomes the norm.


+1, great start from one of the bigger institutions; not penalizing you with higher fees just because you have less capital to play with.
Banned
User avatar
Feb 15, 2008
26318 posts
3231 upvotes
Calgary
Anyone have any luck calling up TD Waterhouse/TD Direct Investing and asking for a price match?
TodayHello wrote: ...The Banks are smarter than you - they have floors full of people whose job it is to read Mark77 posts...
Member
Sep 24, 2012
347 posts
30 upvotes
MISSISSAUGA
There is still $25/quarter fee for balance below $15000. Just confirmed from live chat.
Deal Addict
User avatar
Jan 28, 2012
1741 posts
608 upvotes
It's pretty much inevitable that $10 per trade becomes the norm everywhere, but it couldn't hurt to try asking for a price match in the meantime.
Member
Oct 20, 2010
416 posts
76 upvotes
MehtabSingh wrote: There is still $25/quarter fee for balance below $15000. Just confirmed from live chat.
Is that per sub account (ie tfsa or rrsp) or all accounts as a whole?
Member
Sep 24, 2012
347 posts
30 upvotes
MISSISSAUGA
notbill wrote: Is that per sub account (ie tfsa or rrsp) or all accounts as a whole?
Not sure about that you can talk to live chat on their site.
Member
Apr 22, 2010
321 posts
9 upvotes
How is RBC compared to TD Waterhouse's interface etc?
Newbie
Dec 27, 2013
30 posts
13 upvotes
notbill wrote: Is that per sub account (ie tfsa or rrsp) or all accounts as a whole?
They don't hide information like this. It's all in their fee schedule: http://www.rbcdirectinvesting.com/pdf/c ... n-fees.pdf
  • Clients with combined assets of $15,000 or more in all of their RBC Direct Investing accounts ...................... No fee
  • Clients with combined assets of less than $15,000 in all of their RBC Direct Investing accounts ................$25/quarter

The fee is also waived if a client meets any one of the following criteria:
  • Has signed up for a Pre-Authorized Contribution(s) (i.e. automatic regular savings transfers) for a combined total of $100/month ($300/quarter) or more in their RBC Direct Investing account(s) (registered and non-registered), or
  • Has been an RBC Direct Investing client for less than six months (this allows new clients sufficient time to transfer assets to RBC Direct Investing), or
  • Has a combined total of three or more commission-paid trades during the quarter in all RBC Direct Investing accounts (registered and non-registered), or
  • Has a group RRSP account with RBC Direct Investing, or
  • Has qualified for the RBC Direct Investing Royal Circle® program or
  • Has an RBC Student Banking® package — current or within the last five years, or
  • Has an RBC VIP Banking® package
Banned
Feb 17, 2007
3190 posts
202 upvotes
Not fair to those that have 50k
High fee actively managed mutual funds are bad for your wealth.
Member
Jun 21, 2005
354 posts
149 upvotes
This might be just the push I need to move into direct investing. I've been looking at ETF's for my TFSA. Maybe it's time to do it.
Deal Fanatic
Mar 24, 2008
6241 posts
2702 upvotes
Toronto
ACC-Major wrote: Not fair to those that have 50k
People with 50k+ in assets are unaffected. How is it not fair to them?
Deal Fanatic
Mar 24, 2008
6241 posts
2702 upvotes
Toronto
Infinitii wrote: How is RBC compared to TD Waterhouse's interface etc?
I switched from TD Waterhouse to RBC DI last year and I find it to be pretty good. Telephone support is also excellent if you ever need it.
Deal Guru
Apr 11, 2006
10863 posts
4905 upvotes
Vaughan
I was just speaking to a colleague about this today since it was in an advertisement in the Metro newspaper, and he is planning to close his RBC TFSA trading account because his father-in-law who day trades, finds the TFSA trading account is like treated with less priority or something and finds the trades never seem to close in real time. There's like huge delays.

I'm happy with my Scotia iTrade and the advance funds transfer feature, so I won't bother switching.
Deal Addict
Jul 29, 2004
2875 posts
377 upvotes
RBC has the worst research offerings along side BMO Investorline.

Keep that in mind if you like to read equity and market research.
[OP]
Sr. Member
Sep 21, 2006
581 posts
137 upvotes
komal wrote: RBC has the worst research offerings along side BMO Investorline.

Keep that in mind if you like to read equity and market research.
+1, if research offering matters, go with another FI

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