Find answers to commonly asked questions about Practice Accounts. Don't see your question? Please call us at 1-800-769-2560.
How do Practice Accounts work?
Each Practice Account that you activate is funded with $100,000 of "practice dollars." The account is integrated within the actual online investing site so you won't have to remember different login information or download a separate application.
Once activated, your Practice Accounts can be accessed from the My Home tab and through the account drop-down menus on the My Accounts and Trade tabs. You will know you are in practice mode because the account is highlighted in a tan box, and you will see the book icon. You can manage your Practice Account just as you would a real account, using the tabs and on-screen links.
You can also manually modify your cash and holdings as required.
What transactions can I perform?
Practice Accounts let you mimic almost all of the different transactions you can do in a real account:
- Buy, sell and switch mutual funds from all available fund families
- Master different types of stock orders
- Buy and sell options contracts
- Buy fixed income products
- Monitor holdings over an extended period of time
What types of Practice Accounts are available?
Available account types include Investment Accounts, Option and Margin-Enabled Investment Accounts, and RSP Accounts. RESP and RIF Accounts are not available.
What are the key features and benefits?
- There is no cost to open and use a Practice Account
- Practice Accounts are completely risk-free
- Practice Accounts are integrated into the actual online investing site
- There's no complicated account opening — just follow a few quick and easy steps to activate a Practice Account in a matter of minutes
- Any RBC Online Banking or RBC Direct Investing client can open a Practice Account
- $100,000 of "practice dollars" are available per Practice Account
- You can activate multiple Practice Accounts, including Investment Cash, Margin and RSP
- You can start over at any time
Are there limitations for non-RBC Direct Investing clients?
Yes. For RBC Online Banking clients who do not have an RBC Direct Investing account, Practice Accounts provide access to many of the research and tools that are available on the site. However, these clients are subject to the following site access limitations:
- No access to real-time quotes, IPOs and expressions of interest.
- No access to calendar, multiple quotes and alerts tools. Limited access to research and Model Portfolios.
- Dormant Practice Accounts held by clients without an RBC Direct Investing account will be closed after 9 months of inactivity.
Are there any additional limitations?
Yes. The following limitations apply to Practice Accounts:
- Income from dividends, interest on cash holdings, interest on fixed income and fixed income principal repayment is not reflected in your account. However, you can manually adjust for these by adjusting up cash positions.
- Interest expense incurred by borrowing to invest in a Practice Margin Account is not reflected in your account. However, you can manually adjust for interest expense by adjusting down cash positions.
- Stock splits, consolidations and delisted stocks are not automatically reflected in your account. The impact of these actions can be simulated using manual adjustments.
- Practice Accounts are not reflected on eStatements or paper statements.
- All options will auto exercise, including options on index funds.
- No short selling of stocks is permitted.
- You will not be able to open RESP or RIF Accounts, or transfer real funds.
How do I activate a Practice Account?
Practice Accounts are available to all existing RBC Direct Investing and RBC Online Banking clients. To activate a Practice Account follow these easy steps:
RBC Direct Investing clients:
- Sign in to the RBC Direct Investing site.
- Click the Practice Account link from the Summary page of the My Home tab.
- From there, follow the quick and easy steps and start practicing today!
RBC Online Banking clients:
- Sign in to RBC Online Banking.
- Select the Practice Account link from the RBC Online Banking Accounts Summary page.
- From there, follow the quick and easy steps and start practicing today
Are you interested in activating a Practice Account but you are not an RBC Online Banking or RBC Direct Investing client?
Existing RBC client:
Sign up for Online Banking
New to RBC:
Choose the RBC product or service that meets your needs and sign up for Online Banking