RBC Direct Investing today announced that Dual Currency in Registered Accounts is now available to online investors. RBC Direct Investing is the first major Canadian bank-owned online brokerage to offer investors the option to hold U.S. dollars and to settle trades in U.S. dollars in most registered accounts, including Tax-Free Savings Accounts (TFSA), Registered Retirement Savings Plans (RRSPs) and Registered Retirement Income Funds (RRIFs).
“In response to requests from our clients, we are pleased to provide them with a more cost effective and convenient way to purchase U.S. securities in their registered accounts,” said Jason Storsley, president and CEO, RBC Direct Investing. “RBC Direct Investing clients will be able to manage the Canadian and U.S. sides of their investments within a single integrated account and avoid the cost disadvantage associated with forced currency conversions in registered plans.”
The introduction of Dual Currency in Registered Accounts is the latest innovation from RBC Direct Investing and is automatically available in existing or new registered accounts. This new capability is also available in RSP Practice Accounts.
“With the dollar nearing parity, more clients are choosing to include U.S. securities in their registered plans including TFSAs,” said Storsley. “We want to assist our clients in building diversified portfolios to help them achieve their short and long-term goals and Dual Currency in Registered accounts makes it easier and more cost effective to do so.”
For more information about RBC Direct Investing, Dual Currency in Registered Accounts visit www.rbcdirectinvesting.com.