RBC Direct Investing Review

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RBC Direct Investing customer reviews: complaints, ratings, account pros and cons. Is RBC Direct Investing good and safe investment company?

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RBC Direct Investing Reviews

by KD, 11/15/2021

Pros: None

Cons: A bunch of air headed incompletent advisors.

Call many times for a simple conversion order and they could not do it since they did not have the information. Told me to call back, and each time I called, they gave me inconsistent information and they were not able to get the order done because they did not record or keep up notes of what they said. Mixed matching information and they were willing to use wrong and out dated information to execute your order, so beware. Very irresponsible. One of the guy read the notes while putting me on hold that I could hear "the girl called many times". Hey, if you did not fail to do your job, why should I kept calling back? Do you think I have time to waste for such a bunch of monkey? I asked to speak to the manager, the guy said I could not speak to the manager, RBC's law that he could only have a customer care to contact me. What a lousy, messy, dishonest, dysfunctional working ethic. It's simply just stupid!

by Al, 9/8/2021

Pros: Full product coverage (Equity, Bond, PF, IPOs etc.)

Cons: Worst pricing and customer service

RBC DI customer service and IT infrastructure is worst of all banks. Fat spreads (especially on bonds) are deliberate ways of fleecing because they know retail investors don't have the price transparency. It is common for RBC traders to say '...this is the best price available. If you had USD 1MM or greater, we can try for a better price'. RBC DI contact centre suffers from poor IT infrastructure and culture of lip service. Beware!

by MR, 8/7/2021

Pros: Site itself is usually good

Cons: Too expensive to trade and too slow for important buys

It is costs me thousands in losses over the years. Not worth it. Overall I haven’t made a penny after years of research. RBC couldn’t care less if you lost all your money. As long as they get paid. I have been trying to do a buy for 2 days and it will not process, as it says sorry for inconvenience, technical difficulties. Wonder do they know it is 2021?

by Mike F, 7/9/2021

Pros: Convenient if RBC customer

Cons: Slow trades and slow to resolve pending trades

Slow trades and slow to resolve pending trades.
Also, it is very inconsistent. Was able to complete trade when didn't have enough funds due to quick price change, but wasn't able to complete a trade other times, even when I would have been left with barley a negative amount (less than $10). Lost a lot of money because of this. You can't reliably count on it to be consistent.

by MW, 6/3/2021

Pros: None

Cons: Everything

Stay away, far away from RBCDI

by DS, 3/8/2021

Pros: None so Far

Cons: Non-existent customer service, 30 days to transfer funds ??

I'm a new RBC Direct customer, after opening an account I transferred funds from my RBC cash account it took over a Month, I called twice (3 hr waits) and got two different answers on when my funds would be available, after emailing I got a response that they would re-submit the transfer request and would be done within 5 days, 8 days later it finally appeared. They cost me hundreds of dollars since I had no funds to buy the stocks I wanted, once I could they had risen so much that it was no longer worth it. Do yourself a favour choose another bank.

by oC, 3/1/2021

Pros:

Cons:

Totally disappointed with them. Try to open new account online. No response over three weeks. Ridiculous!!!

by SilentOneCanada, 2/23/2021

Pros: All in one as an RBC client - for now

Cons: Terrible wait times....

Unbelievable..... Been on hold now for 2 hours and 40 minutes.... Still no answer. Keep being told how valuable of a client I am... Had made repeated atempts to call in last week, basically same thing..... Stayed on before for up to an hour and still no luck. If at least they would tell you how long it would be - if they said 6 hours we could opt out... Hate to hang up if I am a few minutes away.

by jag, 2/22/2021

Pros: level 2 and some research tools

Cons: no trailing stop, cant place stop loss from trading view, slow ass hellllllllllll un-usable

i have a gaming laptop specd out laptop doesnt slow down but the trading view is slow as hell. I'm taking all my money out moving it elsewhere.

by Yvonne Scheffer, 2/19/2021

Pros:

Cons:

I've been waiting 1 hour 45 minutes, still waiting. . . that is unacceptable!

by FRUSTRATED, 2/8/2021

Pros: Zero - absolutely horrible process and service

Cons: Too many to list - Understaffed; Uninformed staff; Been on hold now for 3 hours

RBC Direct Investing is a horrible service and an even worse experience. If you're not committed to it now, RUN WAY - FAR AWAY. They've made numerous errors along the way and each time I NEED TO CALL THEM, wait on hold for well over a hour each time, only to move on to their next mistake.
RUN AWAY. STAY AWAY. NEVER COME BACK.

by justin, 2/4/2021

Pros: 1800 number

Cons: never pick up the phone

been trying for 2 days to sell my silver certificates that can only be sold over the phone. no answer for hours. will close my account and take my business elsewhere

by james kupers, 2/3/2021

Pros: none

Cons: worst

absolutely the worst platform for trading.....up to 12 minutes for a market order!!!!!!...stay away from RBC.....it is useless......

by Chris, 2/2/2021

Pros: None

Cons: Interface, outages

This is the absolute worst platform I've ever used, and I've used quite a few. I'm in the midst of transferring all my money to another broker. There's outages every morning. Right now for instance, my account won't even appear in when I log in - I can't even trade.

Save your time and your money by staying far away of RBC Direct Investing.

by Canuck, 1/28/2021

Pros: An illusion, a charade

Cons: Too many to list - see other reviews

Got conned into setting up with RBCDI and now they closed electronic buying of the stock I wanted so I am on hold today for 1:33 so far. Was on hold 5+ hours before their system hung up on me, then 4+ hours, and 1.5 so far today. Already missed out on the dip I was waiting for.

by Teejay, 1/28/2021

Pros: Can't find any. Absolutely garbage broker

Cons: - Outdated Trading Dashboard, Not Intuitive

- RBC is one of the worst brokers for trading
- Customer does not exist
- 4+ hours wait times to talk to someone
- Won't even answer your emails.
- Technical Difficulties pretty much every day.
- Outdated Trading Dashboard, Not Intuitive
- The whole web app interface is a joke and buggy.
- Absolutely no way to get hold of them when you need them ASAP.

by sam, 1/28/2021

Pros: nope

Cons: Suspicious when tech difficulties occur

Lost thousands because i couldn't sell when i needed to.
No accountability for technical issues.

by John R, 1/26/2021

Pros:

Cons:

They locked up one of my accounts and was unable to sell a very volatile stock when I wished too.
Waiting on the 1 800 # for 2 hours and 21 minutes, never answered.
The following morning started the call at 4 AM PST, answered at 4:25.
Reason the account was locked from on line trading is the the account information had to be updated.
They had NOT advised or sent me the form.
Only way I was allowed to sell the shares was what was offered on opening.
I could not risk looking at the trading pattern as I likely would not be able to access the 1 800 number during trading hours.
I lost between $2000 & $3000 by not been able to sell when I went online two days ago.

by MC, 1/21/2021

Pros: NONE

Cons: Customer Service Inexistent

Stay away for RBC Direct Investing. Shitty service. The platform is outdated. If you need to talk to an agent for any reasons, good luck with that ! No chance you can talk to anybody. They don't bother answering the phone. In the meantime, you can lose a lot of money on a stock you can't sell online due to ticker or platform problems.
Every single day, you get the : Due to higher than normal volume of calls ... then maybe, hire more people. Think about it ! Your call is important to us. Ya, sure !

by Rob, 1/14/2021

Pros: None

Cons: Several

Clunky and not intuitive at all. Customer service pretty much non existent wait hours on phone. But whats worse is this isn't close to new so there seems to be no will to improve interface with clientele. Go else where nothing can be worse than this.

by Amir, 1/12/2021

Pros: No Pros

Cons: No way to contact them if you need help

I waited for about two hours to speak with someone regarding my investment account and when I got through he could not help and had to patch me to someone else. As he redirected my call he hung up on me, two hours of waiting and nothing. I tried to send an email but the secure email server is not responding either. How %$^% are suppose the get account issues resolved. Very disappointed by their service.

by GloriaEd, 1/8/2021

Pros: Pro’s that would be a joke

Cons: incompetent, disgustingly incompetent

Several attempted calls to “DUE TO HIGHER THAN NORMAL CALLS YOU CAN EXPECT A LONGER WAIT”. 4 1/2 hours on the phone with outsourced customer lack of support.
Oh we can fix your problem, we will call you back we promise. Yea have been told that twice now. DO NOT I repeat DO NOT TRUST RBC DIRECT. These people are INCOMPETENT!!!!!

by Mike, 1/1/2021

Pros: Cant think of any

Cons: No access to accounts via web...always shows unavailable, email system never works for service, phone contact impossible

I have an RRSP set up by RBC through DI to their Global Asset Management and wanted to open another account to buy shares.
Impossible to do anything. Not a viable company to deal with.

by sonja, 12/17/2020

Pros: none

Cons: horrible wait times

Even worse now with covid 19. On hold for hours!!!

by BNZ, 10/24/2020

Pros:

Cons:

OBG, not even one positive review. ok, I will not use them, thank you all. :)

by suresh, 8/10/2020

Pros:

Cons:

this is worse bank I have experience with. I will closed all my account with this fucking shitt bank.charging highest fee with zero service. don't do any business with this bank at all if you don't want your money safe.

by William, 7/6/2020

Pros: use to be without technical difficulties.

Cons: RBC direct investing has constant technical issues.

RBC direct investing has constant technical issues. Four days out of five the investors losses money while rbc are "sorry fo inconvenience". This is going on from months now and their technical team is unable to resolve the issue. Same problems everyday from months.

by John W. Seaman, 6/10/2020

Pros: None

Cons: There is a small item in which I got in mail that I need their help to resolve. I have spent almost 5 hours on phone, gone to branch and all I got there was they were busy. Their management should be taught that excuses are the nails that build the house of failure. Just because they are big, their arrogance could take them down!!

Please see Cons above

by Angry, 6/8/2020

Pros:

Cons: System needs upgrade!!

Loosing thousands! Unable to trade most mornings because the site is busy! Keep getting this message--All server machines are currently busy...


Please retry a few minutes later with your last page

by Mike, 4/28/2020

Pros:

Cons:

Big "NO" with their services if you don't want to lose your money. This is the common problem of the Big Bank.

by THKsNOT, 4/28/2020

Pros: ZERO

Cons: TOO MANY TO LIST

Site is NOT reliable - constant issues are start of trading day. Interface is about 20 years old. Its like visiting a museum. Impossible to ever get a live agent, unless you have an hour or more to wait online. When you do get someone live, they are nasty people to talk to.

This site will cost you serious money - when you can't access it to complete trades, or trades that don't complete. RBC should stick to managing daily interest savings accounts for grandmothers They are completely incompetent beyond anything else.

by ivan, 3/9/2020

Pros:

Cons:

Terrible service. 3 hours + waiting time to speak with representative.Lost T forms for tax. Strong do not recommend to have any business with the RBC DI.

by P.O'd, 1/20/2020

Pros: None

Cons: Phone in is too long a wait

Customer Service is horrible. Cannot reach anyone in a timely matter using a phone. The customer service people do not appear to know what they are doing.

by David, 7/2/2019

Pros:

Cons: Sold my stocks without informing me just to cover the quarterly fee of $25.00

Direct Investing sold my stocks without informing me just to cover the quarterly fee of $25.00. Sold at the lowest possible time also. THANKS. Lucky it wasn't a big investment. I wonder if they would have sold them if they were worth millions to cover the $25.00. Disgusting that this is a legal practice. READ THE FINE PRINT WITH THESE GUYS and keep a check to see if you have enough money in you account to cover the annual fees. I will now go and have a little cry.

by m, 6/11/2019

Pros: decent interface

Cons: greedy typical bankers, unapreciate, liars, deceietful, do not care, slow,

i made around 700k in about 1500 trades my first fiscal year with them, i enjoyed their user interface and i like the reports they provide but many other brokers do the same, i've just been with them on the retail side for a long time. they restricted my account without reason and told me in 90 days all would be fine, and then they closed all my retail accounts , around 10, and my di account and told me to hit the road. rbc can seriously fuck off. enjoy the pride parade losers. don't give 2 shits about society and their "clients"

by Out of RBC!, 5/14/2019

Pros: allowed me to buy a structured note

Cons: Cheapskate nickle and dimers

I bought a structured note from an RBC salesman about 6 years ago. I was charged a 5% commission. Fair enough. He told me I could park the note at RBC or transfer to my existing broker. Next thing I know, they charge me a $100 annual fee, for doing absolutely nothing for me. And then to transfer out of RBC, the fleece me another $125. These so-called "full service" brokers exist for one purpose only-- to milk as much money out of you as possible. These losers deserve to go out of business! I certainly would not buy anything from them again, nor should anyone else!

by ian, 4/22/2019

Pros: disgusted but had to give them one star as none was nit an option

Cons: unable to do the basics of a discount broker , hours on the phone to attempt order fills

Do not keep up on new stock/warrant listings. Must always be phoned in which recreates the same scenery every time a waste of a few hrs on the phone as they try to figure out how to place the order.(the call center cannot do it).
This is one of many time delaying bad service issues. Go anywhere but stay away from this outfit.

by Jan, 4/20/2019

Pros: Not many

Cons: Sneaky fees, high fees

All banks under their Investment accounts - BMO IL, TDI, Scotia's iTrade, CIBC Investor Edge, etc. provide totally free TFSA accounts. No hidden inactivity fees, no balance limits, some of them don't even charge for buying ETFs. The RBC Direct Investing must be the only one that charges a sneaky $25 quarterly fee for balances under $15 K. Why, not greedy enough?

by S Dexter, 4/12/2019

Pros: You can do it yourself

Cons: Fees fees, fees and more fees

They are big and callous similar to all RBC entities. 135.00 charge per account to transfer them out when you have had enough. They also do not disclose this when you sign up. Do some research and find a different online vendor.

by Todd, 2/22/2019

Pros: none

Cons: no direct fund transfer, even from RBC accounts, only phone assitance during office hours, high fees, MERs are almost criminally high on mutual funds

Opening the account is long winded and doesn't actually link to RBC online banking, transferring cash from RBC account is not a direct transfer, is manual (during office hours only), trading fees are high, mutual fund MERs are crazy high and returns well below market. why does anyone use RBC?

by Kai, 2/9/2019

Pros: False appearance of friendly, caring

Cons: Top financial advisor incompetent or apathy

Money was given for investment, so another party involved on my bahalf. However, financial advisor did not listen to how wanted money allocated in the Market instead of diversifying, he consolidated roughly half in Energy sector tied to petroluem/oil. back in 2014. I pointed out my concern as oil prices started to fall, but no solid action taken, I guess on the assumption of recovery even though all factors pointed in the wring direction. My Financial Advisor, not taking my interests into account, and my reliance and trust in him, did not pay attention to the continuing downspin and allowed great losses (90% + ) to occur on Breitburn, Seadrill, and Vanguard Natural Resources. I would never recommend RBC services.

by QCB, 1/16/2019

Pros: Friendly at first

Cons: Elitist, unhelpful

We signed on with RBC (CT branch) as a new company, so employee investment totals in the plan (via payroll deductions) were initially small, including mine. I was reminded by my broker on more than one occasion that he “typically handles a minimum investment of 2 million dollars,” as if he was inconvenienced....despite the fact that he agreed to take us on. He made me feel like a small investor with no clue what I was talking about. I am pushing 60 and have have had substantial sums invested at another firm for years. When I expressed concern about the fact that I lost money (during a strong market run in early 2018), he seemed offended and tried to school me in “taking the long view.” When I asked if he could provide me with a list of other fund options, he refused. When I pushed him, he angrily said “I can’t work like this” and informed he that he would be calling our plan administrator......like I had misbehaved. We have since moved the company plan elsewhere.

by Don Craik, 1/8/2019

Pros: The people are friendly if you can get hold of someone

Cons: These people are incapable of starting a job and finishing it.

At the branch I was told that it would take 2 weeks to move my 2 funds from RBC Dominion to RBC Direct. Here I sit 79 days later, [ on hold now for 31 minutes]. I have made several inquiries in 9 weeks and have had 4 assurances that the problems have been fixed. One of the accounts has been moved since this morning but the other is somewhere in make believe land. Signed up on Oct 30, 2018 and today is Jan 8, 2019. UPDATE.. I just got off the phone and she said the team just got the orders today. I'm beginning to believe I am the stupid one here for not pulling out several days ago.

by Mike, 12/27/2018

Pros: Front line staff

Cons: Trading platform useless.

In constant need of maintenance.
Dec 27 and results of previous day still not posted in the accounts.
Unable to trade, loosing money again.
Award winning claim is false advertising , go elsewhere.
Situation and performance getting worst in all banking and investing at RBC.
MB

by Ovidiu Radulescu, 12/23/2018

Pros:

Cons:

Unfortunately, I have no other option but to give them one star ( I would give them zero stars) ! Stay away from them ! You constantly will lose money, and you will receive only justifications (if). In the past, I already had a very bad experience with them, constantly losing money. After changing the RBC institution many years ago, my investments were always on positive performance. Presently, my company changed the financing group, choosing RBC to manage the employees investments. I have no choice, but to be back in business with RBC for almost one year! - what a financial constant disaster !!! Worst performance: at least 1% lost every month; no apologies, no explanations, no justifications, zero transparency. Check the reviews of other brokers, compares, inform you well, and use your own judgement before selecting the institution to take care of your investments.

by Dave, 12/18/2018

Pros:

Cons: They failed to follow my instructions.

I gave specific instructions as to when to move funds from another brokerage, but they ignored my request and moved the funds immediately. I then instructed them to stop, but they continue to move funds from my other brokerage account.

I am terminating my relationship with them.

by Lisa, 11/22/2018

Pros:

Cons:

A question for Steward Home and Shaun. Can you tell me please which specially which RBC you dealt with- what city- Thank you.

by Sam, 11/15/2018

Pros: none

Cons: Ball kicking problems, always other's fault

1) Worst Bank manager who had bad hand writing and costed me money and I had to go to Chinatown branch 3 times to fix his hand writing problem, because Direct Investment won't take the application unless corrected by the bank agent.
2) Direct Investor's front office is really Royal bank, who doesn't know much about DI, and customers are forced to deal with RBC staff who know little or none at all about Direct Investment.
3) Any problem with DI, I had to take it to Royal Bank, who said it's not there problem but DI's problems.
4) Di says they can't fix the problem so I must deal with Royal bank branch instead because DI has no office !
5) repeat above step 3 and 4 a few times and dozens of phone calls and bank managers' lousy handwriting who wrote a 7 and 1 and 5 and 6 look similar !! WTF !!
6) Nobody from either RBC or DI apologized for their incompetence !
7) TAKE your business ELSEWHERE !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

by Tariq, 10/31/2018

Pros: Convenience

Cons: Worst Customer service staff

Keep charging quarterly fee to my portfolio despite the fact that I kept minimum amount in my account as was told by agent to avoid the fee. No one return calls or pickup calls or reply to emails as they dont care about customers

by Robert, 10/24/2018

Pros: Very polite staff

Cons: Lost a lot of money

I gave them $300,000 in the hopes that I would make 5% a year what happened was I lost $18,000 plus over $6,000 in fees to them plus from the time I called to close the account until I eventually got my check I lost another $5,000 all in all over $29,000 lost in 8 months that's more than one full year of my retirement budget gone

by Bruce, 10/12/2018

Pros: none

Cons: Too many to list

I have accounts at several brokerages-each brokerage has its own unique advantages. I have had mostly terrible experiences with RBC in the last few years. After over a dozen years, I finally closed my account. My advice is to use brokerages with good reviews.

by perturbed, 9/19/2018

Pros: RBCDI Royal Circle - cheap trades, paper monthly statements, daily record of account online

Cons: RBCDI Royal Circle - people are polite but the problem does NOT get resolved.

RBCDI Royal Circle claims to offer Thomson Reuters IBES consensus earnings estimates. I notified them over a month ago that the annual estimate is showing the quarterly numbers. They admit they have a problem with their website but they still say they are working on it - over a month later!

by Pavel, 9/18/2018

Pros: NONE

Cons: USELESS broker, worst customer service

I had an account with them for 4 years, and I regret I opened it in the first place. They are super outdated, not convinient to use, they run the business like in 1980s. They had frozen my acc. quietly because a form was missing and when I decided to close the account it is already took 3 calls (an hour each) and account HAS NOT BEEN CLOSED YET. I'm disgussed. Now I think of moving all my funds from RBC bank as well because they are to fat and lazy to provide the service the customer paid for. Shame, shame, shame.

by erin, 9/18/2018

Pros:

Cons: bad

horrible charts 30 -20 mins delay just getting current quotes are useless .

by Steve, 8/24/2018

Pros: None

Cons: Have you got a few hours?

RBC is worthless and pathetic. Their only strategy is to mindlessly churn your account based on analysis a 7th grader could could pull off of CNBC. Your portfolio will lose value and the fees will kill you. And they will laugh all the way to the 18th green. If you want to lose money, they’re perfect!

by Tyler, 8/22/2018

Pros: None

Cons: Wouldn't know they can't even open an account

Set a meeting with RBC "specialist" to set up account. She had to phone in to the main line to get help to "make sure everythings done right". Was told 3-6 days. Called a week later, no paperwork has been received - was told to call direct investing directly as the " specialist " was going on vacation. Called direct to find out she didnt fill papers out correctly. Had to resend and wait ANOTHER week. Called and told a different story about a different section that wasnt done properly but they never mentioned that previously. 3 weeks of this back and forth and i had enough. I cancelled my account and currently pulling all my buisness out of RBC. NO ONE KNOWS WHAT IS GOING ON IN RBC. Constant run around!!!

by Derek C, 8/22/2018

Pros: None

Cons: Inattentive, Does not care, difficult to ready.

When you want to withdraw money. They hide behind paper and borderline abuse the elderly with paperwork.

Trying to close an account they say they need to update everything and send you all sorts of redundent paperwork with information they already have. They ask for a new w-9 form (like they do not have the SSN of the person) and ask for adoption agreements for accounts that are already adopted and exist.

Moron to the left, fools to the right. They just suck!!!

by MATT, 8/6/2018

Pros:

Cons:

CANT EVEN TRADE ON HOLIDAYS WHEN THE U.S IS NOT COMPLETE GARBAGE. LOGS YOU OUT WHEN YOUR WORKING ON YOUR PROFILE ITS ANNOYING!! THE CRAPPIEST PLATFORM IN THE WORLD VERY LIMITED TO WHATS OUT THERE.

by Frustrated Investor, 6/21/2018

Pros: None

Cons: Way too many to list

I had the displeasure of being stuck w/ these clowns and their WM advisor for years until I saw the day of light. They simply do not do any active management. My one account laggard for seven years and all I did was pay fees (it was in mutual funds). I made zero dollars believe it or not (due to fees I paid them). My other account w/ 1m+ finally was put in equity but the portfolio is simply comprised of various equity that are given to him by their analyst. There is zero active management and no self-service capabilities. For first account, it cost me to get the money out WTF!
Horrible.

by Warren, 6/17/2018

Pros: None

Cons: Too many to list

Worst of the worst. Incompetent morons, do not invest any money with these scam artists.
Interactive brokers is a professional brokerage 100% better than RBC Direct investing.
You are guaranteed to lose money with RBC.

by User anon, 5/7/2018

Pros: None

Cons: Irresinsponsible uncaring incapable

Don’t invest with the Wealth Management branch. Completely irresponsible, uncommunicative and uncaring. They dropped the ball, lost $50k of my money (I’m disabled and count on every dollar to live on) and after being treated like a second class citizen in trying to pull out and calling the headquarters, you realize there are no stops in place. I wrote to the president of RBC and received no response. After a 10 year relationship I would have hoped for more. There are better places to invest with.

by Morley Evans, 5/5/2018

Pros: Zero

Cons: Unbelievably terrible.

DO NOT WASTE YOUR TIME OR RISK YOUR MONEY WITH RBC Direct Investing. After banking with the Royal Bank of Canada for fifty years, I expected the same high quality of service I was used to when they introduced Direct Investing. They do not provide feedback from customers. Options I bought and sold months ago are still in my portfolio. NO COMPLAINTS DEPARTMENT. Instead, they have a "procedure" to submit a report to their "Ombudsman". The RBC upper management must be graduates of the "Suicide of the West" management school. RBC used to be Canada's biggest and best bank. That may change. This is a bad omen.

by Randy Pickett, 4/19/2018

Pros: Nothing good to say

Cons: To many to list

My family received two accounts managed by them when my father-in-law passed last summer. It has now been 10 months and they still don't have the accounts totally dispersed to the beneficiaries. The representative has not been truthful in all our dealing and has contradicted many things that he has told us. He was suppose to provide an investing plan but as of yet, we have not see it. I would assume that 6 months to get that work done would be enough but I guess these things take time.

If you are considering investing with them, DON'T. We will be removing all our money ASAP

by Shaun, 3/31/2018

Pros: Invite you to Nice dinners.

Cons: I made 2% on my investments with RBC in 2017.

Last year was the worst year with RBC. Investments went from 4% 2 years ago to 2% last year. My contact said the markets were down last year. He said the news was wrong reporting how the markets were up but he said it wasn’t true. Some of my friends got 8-9% last year. Mine told me I could go elsewhere if I wasn’t satisfied. Not only will I go elsewhere I will tell everyone I know how deceptive RBC is.

by Shaun, 3/31/2018

Pros: Invite you to Nice dinners.

Cons: I made 2% on my investments with RBC in 2017.

Last year was the worst year with RBC. Investments went from 4% 2 years ago to 2% last year. My contact said the markets were down last year. He said the news was wrong reporting how the markets were up but he said it wasn’t true. Some of my friends got 8-9% last year. Mine told me I could go elsewhere if I wasn’t satisfied. Not only will I go elsewhere I will tell everyone I know how deceptive RBC is.

by Stewart Home, 3/20/2018

Pros: Nice people

Cons: They make money not you

I had well over $5M with RBC and they put me in 200+ securities and bonds and they brought and sold daily. My 1099 was 200 pages and I lost $250k in one year. Then $150k year 2, then nothing year 3. They make the money on commissions and loaded funds. I made -5% on my money they made 5%. Stay away!!!!

by David, 3/13/2018

Pros:

Cons: Failed online trading system, which crashed right before my eyes!

Back in Feb, when volatility was high, was watching over my investment account, and while trading the whole system froze and wouldnt accept orders. I was in the middle of placing a sell stop on hvu.To. when the system froze and after 30~40 min to reach a representative on the phone, lost over 10%...Dont think they will compensate much, is thinking about pulling out all my rrsp, tfsa and dirct Investing with them. Also considering suing them.

by Bob, 3/5/2018

Pros: None

Cons: Scum, Leeches, crooks

This organization is nothing but leeches sucking their money from your hard earned money. No fiduciary responsibility, claiming to really care about you, but just sucking fees for their own benefit.

by Steve, 2/7/2018

Pros:

Cons:

I wanted to sell a stock and happened to mention I was calling from Arizona. I was notified the agent did not have a US licence and a person with a licence was needed. Another 30 minutes to sell a stock. After that, a note was placed on my account and I'm required to notify RBC when I'm back in Canada. After that, restrictions have been placed on my account and I can no longer trade online. I guess taking a vacation is forbidden.

by Stanley Borkowitz, 2/2/2018

Pros:

Cons:

I have been attempting to contact a live person from your firm for close to 4 months. My accounts, RRIF and TFSA have disappeared, I emailed on 4 occaisions and never received a live response. Instead I was given a phone number, 1 800 769 2560, I have called more than 10 times and have been put in line, disconnected and when I finally got a live person was told I would be given a number, wasn't, and was disconnected. Today I called again and was told that the wait would be one hour!!! This Company has the most incompetent back office. Today a stock that I own (?) is subject to a take-over and I would like to sell, Can't , no one to talk to.

by Harold, 2/2/2018

Pros:

Cons: long waiting times to answer calls

They really need to improve the telephone answering system. Wait times are unnacceptable. Sometimes I have to wait 30, 45 minutes on hold. I am sure they have enough reenue to hire new staff. Unnaceptable if you ask me

by Cody David, 1/31/2018

Pros: Good at being dumb and disorganized

Cons: -To lazy to get paper work started - Talked me out of investing in stocks that made a lot of money - didn’t fill out paper work to transfer money

Don’t waste your time unless you are an experienced investor, trying to get anyone on the phone to help you is hopeless. They’re extremely understaffed and anyone that does talk to you is going to have less knowledge then you because you know how to use google. I’ve banked with RBC for years, (15+) after two months of attempting to open investment accounts I have lost all confidence and will be switching my credit cards, mortgage, business & personal bank accounts else where.

by Brian Sullivan, 1/22/2018

Pros:

Cons: Hopeless phone service waits always 40 minutes to an hour, several calls to add an account to transfer in...rep could not figure out what the bank transit is 003 for RBC!

Terrible service, the worst I have ever seen

by Ricardo, 1/11/2018

Pros:

Cons: Impossible to get a broker on the phone only an answering mc telling how busy they are

I try for a week to get a broker on the phone I waited for hours every day and only a answering machine was telling me that due to volume of work the waiting time was for 60 min.
What kind of business are they running ( I really don’t have words to express my frustation.

by Geri, 10/27/2017

Pros: None

Cons:

The only wealth they manage is their own with commissions and fees. No fiduciary responsibilities. Beware!

by J. Jones, 10/3/2017

Pros: Personalized Service

Cons: Poor performance and high fees

Highly dissatisfied. Performance has been poor, fees too high.

by Fleeced, 9/12/2017

Pros: At Fleecing people

Cons:

If you do business with RBC you might as well send your money straight to Bernie Madoff or Gordon Gekko. Not kidding. RBC was fined by the SEC Securities and Exchange Commission 11-3-16 $975,000 for overstatements and inaccuracies. Another fine was 12-21-16 failure to retain records in WORM format. Also failure to implement an audit system of electronic storage media. RBC paid the SEC a fine of $3,500,000 dollars. I took what was left of my money out. "Due Diligence

by Frank, 7/5/2017

Pros:

Cons:

Lost a lot of money, with RBC Sugarland

by William, 6/1/2017

Pros:

Cons:

They very simply do not listen. If I call with a question it becomes a selling opportunity for them and my questions remain unanswered. They are coercive pushing their "FA" services. Most recently I was lied to at a meeting, they saying they needed info for regulatory and that the meeting was for cost basis --
neither of which were true. IMHO they string out purchases to make more fees without giving out advice. I am currently looking for a place to move my accounts.

by JAL, 4/24/2017

Pros: I have an assigned broker who calls monthly

Cons: The courtesy phone calls are not honest

My broker is a vice president. How my money was invested was not discussed with me. I've never been consulted. That alone should have been a red flag. Churning seems to be a thing along with exorbitant fees. In this last year I lost one third of what I invested in a matter of 6 months..all while going through cancer. Yet he calls every month to say "We're on target". Any time I try to ask questions,I get snapped at! I depend on the interest to make ends meet. I'm worried beyond belief..Our family trusted this investor because he managed my mom's accounts. It now makes me angry to think how frugally she lived at his expense. Buyer Beware!

by John, 4/11/2017

Pros: I would never use this firm. Every facet is bad.

Cons: I dislike everything about this firm.

Horrible Customer Service.
Over 9 phone calls into them and no one knows

by RK, 1/19/2017

Pros: None

Cons: Broker cons is correct

Money sucking leeches. No fiduciary responsibility. Will suck you dry with fees.

by J. R., 11/20/2016

Pros: Secretary is very pleasant to speak with

Cons: Wothless ... never any advice ... try to talk you out of stock purchases' ... slow when they do what you ask ...

not satisfied

by Investor, 10/19/2016

Pros: Used to be good .

Cons: Now are not good .

They talked me out of buying apple at 10$ a share in the late 90s
They talked me out of buying Netflix at $60 a share in 2010 or so before it went up like 500 percent.
They want you to buy boring safe stocks with little upside basically , and a lot of downside.

by Wisconsin Resident, 10/19/2016

Pros: None

Cons: incompetent

Sent out almost 5K from an IRA account to the State as unclaimed money, even though we spoke with them 8 months ago to update our details.

Told us over the phone that it was an error on their side, but there was nothing they could/ would do.

Watch your money!
move it out of RBC!

by Drew, 9/1/2016

Pros: Monthly statement is mailed to me.

Cons: Doesn't make money, takes forever to get tax documents

I have had an account here for 5 years and closed it today. Overall, this investment account has made virtually no money when compared to my other investments accounts. I strongly recommend looking at other companies as most offer free investment help.

by GTS, 5/2/2016

Pros: User interface is ok; many tools for managing acct; access to stocks, bonds, mf's, ipo's, etc

Cons: not up to the moment; not instant; sometimes off line

I have been ambivalent about RBCDI since I started trading in it about 5 years ago. Made money/ lost money based on what I purchased. Small trades so no big loss. Jumped at opportunities hinted at by online gurus. Some worked some didn't. Costs have become reasonable since 2015 - $10 a trade instead of $30 (for stocks).

by bm, 4/20/2016

Pros:

Cons:

All about COMPLACENCY! but they lose your money in my case 78000.while making close to 20000 in a commission.WHAT!

by Caldev, 3/22/2016

Pros: Good support staff

Cons: Expensive, questionable ethics

Made trades in my account without my permission. Does not record phone calls so there is no record when trades are mis-executed. High fees. Reacted very badly when I questioned a bookkeeping error.



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Leading Brokerage Review Websites About RBC Direct Investing


"RBC Direct charges a commission of $28.95 (inclusive of all fees) on trades of up to 1000 shares for market and limit orders. Self-directed RRSPs are charged an annual administration fee of $75 if the value of the account is less than $25,000.A quarterly fee of $15 is charged on investment accounts with a market value of less than $5,000... Even though RBC has made some improvements of late by offering stock research from Standard & Poor’s and cutting the trailer fees on in-house mutual funds for DIY investors, there is no compelling reason to choose RBC Direct Investing over its competition."

CanadianCapitalist.com

"Good things about RBC Direct. I like the trading platform – it looks nice, easy to use and is well designed. There is also access to analysts reports etc. It does the job... Bad things about RBC Direct. Everything else. Fees – ridiculous fees in my opinion. $10/trade is not bad for a passive investor but why anyone would pay $29 a trade is beyond my comprehension. I’ve outlined the fees at the bottom of the post..."

MoneySmartsblog.com


RBC RRSP Review


RBC Direct Investing Review: Trading Commissions/Fees

  • Canadian and US Stocks and ETFs: $28.95 (less that $50,000 or more in household assets AND less than 30 trades per quarter)
  • Canadian and US Stocks and ETFs: $9.95 flat ($50,000 or more in household assets OR 30 – 149 trades per quarter); $6.95 flat (if making 150 or more trades per quarter)
  • Options: $28.95 + $ 1.50 per contract OR $6.95 or $9.95 depending on your qualifications above, + $1.25 per contract
  • Mutual Funds: no commissions5 charged to buy, sell or switch mutual funds using online investing site or mobile application or through an Investment Services Representative.
  • Fixed Income: the commissions for the purchase and sale of treasury bills, bonds, strip bonds, debentures, GICs and other money market instruments, if any, are included in the quoted price, except for listed debentures for which commissions are charged according to the Stocks Commission Schedule.
  • Gold Certificates (U.S. dollars): $28.95 + $1 per oz., $43 and 5 oz. minimum per trade
  • Silver Certificates (U.S. dollars): $28.95 + $0.10 per oz., $43 and 100 oz. minimum per trade

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About RBC Direct Investing Brokerage

Whether you are just getting started or are an experienced investor, RBC Direct Investing offers one-stop shopping, providing top-rated research and leading-edge tools to help investors make informed and confident decisions.

Award–winning client service, fully integrated Practice Accounts, competitive pricing, innovative tools and in–depth research are just a few of the benefits you can expect at RBC Direct Investing.

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