Get More for Your Money

Do More With Your Money.

Some brokerages charge extra for market data. Others boast low fees but offer limited tools and investments.
At RBC Direct Investing, you can start trading for $0 and access all the tools and data you need with no extra fees.^{Legal Disclaimer footnote 3,
Legal Disclaimer footnote 4}

New

Buy and sell select ETFs and all mutual funds, commission-free^{Legal Disclaimer footnote 1, Legal Disclaimer footnote 2}.

Get exposure to different markets and asset classes from a selection of over 50 commission-free exchange-traded funds (ETFs). Also buy and sell all mutual funds, commission-free.

New

No account maintenance fee. No matter your balance.

Some brokerages charge a maintenance fee unless you meet certain conditions. At RBC Direct Investing, there’s no maintenance fee, no matter how much you invest with us.

Automatically reinvest your dividends, commission-free.^{Legal Disclaimer footnote 5, Legal Disclaimer footnote 6}

Keep your money working for you by reinvesting the cash dividends you earn from your equity investments. RBC Direct Investing automatically purchases shares in the same companies on your behalf on the dividend payment date—commission-free.

Make informed trades with real-time streaming^{Legal Disclaimer footnote 7} and Level 2^{Legal Disclaimer footnote 8} quotes.

Act on price changes and make informed trades with free real-time streaming quotes for stocks and ETFs.

Plus, get Level 2 quotes for TSX and TSX-V-listed securities. (Active Traders^{Legal Disclaimer footnote 9} with signed exchange agreements also get Level 2 quotes for Canadian Securities Exchange and Nasdaq-listed securities.)

Experience trading and investing with risk-free Practice Accounts.

Open one or more Practice Accounts to get comfortable with trading and investing and tour our actual Online Investing platform without using real money.

extra fees

Trading Commissions

Download the latest Commissions & Fees Schedule (opens pdf in a new window) effective August 1, 2025.^*

Download the latest Commissions & Fees Schedule (opens pdf in a new window) effective June 10, 2024.^*

(*Requires Adobe Acrobat. Get Acrobat.)

Canada and U.S.
International

Mutual Funds

per trade^{Legal Disclaimer footnote 2,
Legal Disclaimer footnote 10}

Exchange-Traded Funds (ETFs)

A selection of over 50 Commission-Free ETFs

per online/mobile trade^{Legal Disclaimer footnote 1}

All Other ETFs

Less than 150 trades/quarter: $9.95 per online/mobile trade^{Legal Disclaimer footnote 3, Legal Disclaimer footnote 4}

150+ trades/quarter: $6.95 per online/mobile trade^{Legal Disclaimer footnote 3, Legal Disclaimer footnote 4}

$43 minimum commission (transaction with a principal dollar value of $2,000 or less):

ETF Price

$0.00 - $0.50

2.5% of trade

$0.51 - $2.00

$35 + $0.02 per share

$2.01 and over

$35 + $0.05 per share

Learn about ETFs

Explore the Active Trader Program

Prices apply to each buy and sell transaction on Canadian and U.S. exchanges and over-the-counter markets.

Stocks, Rights and Warrants

Less than 150 trades/quarter: $9.95^{Legal Disclaimer footnote 4} per online/mobile trade
150+ trades/quarter^{Legal Disclaimer footnote 5}: $6.95^{Legal Disclaimer footnote 4} per online/mobile trade

$43 minimum commission (transaction with a principal dollar value of $2,000 or less):

Stock Price

$0.00 - $0.50

2.5% of trade

$0.51 - $2.00

$35 + $0.02 per share

$2.01 and over

$35 + $0.05 per share

Learn about Stocks

Explore the Active Trader Program

Prices apply to each buy and sell transaction on Canadian and U.S. exchanges and over-the-counter markets.

Options

Less than 150 trades/quarter: $9.95^{Legal Disclaimer footnote 4} + $1.25 per contract per online/mobile trade
150+ trades/quarter^{Legal Disclaimer footnote 5}: $6.95^{Legal Disclaimer footnote 4} + $1.25 per contract per online/mobile trade

Principal dollar value of $2,000 or less

$43 (minimum commission)

All other transactions

$35 + $1.75 per contract

Note: The commission schedule for orders placed using an Investment Services Representative will apply for all options assignments and exercises.

Learn about Options

Explore the Active Trader Program

Prices apply to each buy and sell transaction on Canadian and U.S. exchanges and over-the-counter markets.

New Issues

$0 commission to purchase new stock issues (when available).

Guaranteed Investment Certificate (GICs)

Commission is included in the quoted price.^{Legal Disclaimer footnote 11}

Learn about GICs

Bonds and Other Fixed Income

Commission is included in the quoted price^{Legal Disclaimer footnote 11} for bonds, treasury bills, debentures and other money market instruments:

Online or mobile trade

$25 per transaction (min.)

$250 per transaction (max.)

With an Investment Services Rep

$43 per transaction (min.)

$250 per transaction (max.)

Learn about Bonds and Other Fixed Income

Gold and Silver Certificates

$43 minimum commission per trade.

Gold

$28.95 + $1 per oz.

Minimum 5 oz. per trade

Silver

$28.95 + $0.10 per oz.

Minimum 100 oz. per trade

Note: $0 safe-keeping charges for RBC gold and silver certificates.

View International Trading Commissions

Fees

Download the latest Commissions & Fees Schedule (opens pdf in a new window) effective August 1, 2025.^*

Download the latest Commissions & Fees Schedule (opens pdf in a new window) effective June 10, 2024.^*

(*Requires Adobe Acrobat. Get Acrobat.)

Account Maintenance Fee: $0

Other Fees:

Registered Plan Withdrawal Fees^†^{Legal Disclaimer footnote †}

TFSA withdrawal

FHSA withdrawal

Home Buyer’s Plan (HBP) withdrawal

$25

Lifelong Learning Plan (LLP) withdrawal

$25

RIF, LIF, RLIF, PRIF and LRIF withdrawals
(in addition to scheduled payments)

$0 for first two withdrawals per year
$25 each additional withdrawal

RSP withdrawals (including unlocking LIRA)

$50

Miscellaneous Fees^†^{Legal Disclaimer footnote †}

Wire transfer of funds to another financial institution within Canada and the U.S.

$45

Cheque requests¹⁷

$10

Confirmation replacement

Statement replacement (including tax and CRM2 statements)

Research account inquiries

$40 per hour (min. $20)

Dishonoured item (NSF and returned cheques)

$45

Certificate registration - regular (approximately 2 to 3 weeks)

$50

Certificate registration - rush (3 to 5 business days where available)

$200

Transfer out (all account types, excluding donation of shares)

$150

Internal transfers (third-party name)

$25

Private shares^{Legal Disclaimer footnote 17,Legal Disclaimer footnote 18}

$250 setup + $200 annual fee

Restricted shares^{Legal Disclaimer footnote 17,Legal Disclaimer footnote 18}
(holding securities subject to legal restriction on distribution and sale)

$200 per security

Legal security transfer^{Legal Disclaimer footnote 19}

$100

Collateral pledge accounts

$0 setup / $0 annual

Employee stock option plan^{Legal Disclaimer footnote 20}

$50

Estate account processing - assets transferred within RBC^{Legal Disclaimer footnote 21}

$175/account

Estate account processing - assets transferred out of RBC

$350/account

Unclaimed property remittance fee (as permitted by law)

$150/account

Registered estate T3 preparation and filing, per account (if required)

$200/hour (min. $200, max. $600)

Mortgages in self-directed plans (set up before January 1, 2014)^{Legal Disclaimer footnote 22}

$200 annual administration fee (pro-rated fee is deducted monthly for RSP)

Potential third-party fees to fulfill a request

Varies (you will be notified of any third-party fees before they are charged to your account)

American Depositary Receipts (ADR) fees

Any fees associated with ADRs are passed on to ADR holders. Clearing corporations collect fees on behalf of ADR custodians. For ADRs that pay dividends, these fees are typically deducted from dividend payments to ADR holders. For ADRs that do not pay dividends, these fees will be deducted from ADR holders’ account(s). The amount and timing of ADR fees are detailed in the ADR prospectus.

Note: GST, HST and provincial taxes are charged where applicable.

Passed through to ADR holders

Other Ways to Save

Easy ways to keep more of your dollars invested.

Use Avion Points to Pay Trade Commissions

If you’re an Avion Rewards^{Legal Disclaimer footnote 12} member, you can use your Avion points to pay for online and mobile trade commissions—or make cash contributions to your account! (Eligible accounts only.)

Explore Trade with Points

Get Back Your Transfer Fees

Making the switch? Move $15,000 or more and we'll reimburse you up to $200 for transfer fees charged by your other brokerage.^{Legal Disclaimer footnote 15} (Up to $500 in transfer fees reimbursed for Royal Circle and Royal Distinction members.^{Legal Disclaimer footnote 16} )

Plus, there’s never a charge to transfer into your account.

Save on Banking Fees.
Earn More Avion^® points.

If you have an eligible RBC bank account enrolled in the Value Program and hold other RBC products—like an RBC Direct Investing account and a credit card or mortgage—you can earn Avion points faster^{Legal Disclaimer footnote 13} with your bank account and save on monthly banking fees^{Legal Disclaimer footnote 14}.

Rates

Fixed Income Rates

See highlights from our extensive GIC and bond inventory.

GIC Rates

Bond Rates

Cash Balances (Credit) Rates

Investment Account (Non-Registered)

If credit balance is:	$CDN	$USD
All Balances	0%	0%

Royal Circle Investment Account (Non-Registered)

If credit balance is:	$CDN	$USD
All Balances	0%	0%

RSP, TFSA and RIF Accounts (Registered)

If credit balance is:	$CDN	$USD
All Balances	0%	0%

Notes:

Interest rates are subject to change without notice at any time.
Rates shown are calculated on a per annum basis.
Interest rates are paid on the cash portion of Investment and Registered accounts.
Both cash and securities can be held in the same account.
Investment accounts can contain Canadian and U.S. dollar balances in the same account.
Deposit interest is paid on the first business day after the 21^st of each month.
Deposit interest is calculated on the average daily balances in the account for the month.
No interest is paid on accounts when the monthly interest amount is less than $5 per month.

Cash Balances (Debit) Rates

Debit balances carried in any account not approved to borrow against investments held in the account will be charged an interest rate according to the chart below.

Cash Investment Account

If debit balance is:	$CDN	$USD
All Balances	21%	21%

RSP, TFSA and RIF Accouunts

If debit balance is:	$CDN	$USD
All Balances	21%	21%

Royal Circle Cash Investment Account

If debit balance is:	$CDN	$USD
$100,000 and over	19.75%	19.75%
$25,000 to $99,999	20.50%	20.50%
$0 to $24,999	20.75%	20.75%

Notes:

Interest rates are subject to change without notice at any time.
Rates shown are calculated on a per annum basis.
Debit interest is charged on the first business day after the 21^st of each month.
Debit interest is calculated on the average daily balances in the account for the month.
No debit interest is charged on accounts when the monthly interest amount is less than $5 per month.

Margin Rates

View our competitive interest rates on margin account loans.

Margin Rates

Foreign Exchange Spread Rates

The foreign currency conversion rate that appears on your trade confirmation and account statement includes the spread that we (or our affiliates) earn for performing foreign currency transactions for you. Spread is the difference between the rate we (or our affiliates) obtain and the rate you receive. The foreign currency conversion rate and the spread will depend on a number of factors, including market terms and conditions as well as the amount, date and type of foreign currency transaction.

Generally, the foreign exchange spread rates we (or our affiliates) obtain for USD-CAD transactions is described below, except for the spread for issuer entitlements that you receive in your account (such as dividends and interest), which is 60 bps (0.4%). Where a trade is conducted in securities denominated in a currency other than the currency of your account (Trade FX), rather than a cash conversion (Straight FX), the lowest spread is capped at the $100,000.01 to $500,000 tier.

Spread is subject to change without notice. For clarity, the below is not the foreign currency conversion rate.

Transaction Amount (USD)	Spread (bps)	Spread (%)^{Legal Disclaimer footnote 23}
$0 to $24,999	230	1.6%
$25,000 to $99,999	145	1.0%
$100,000 to $499,999	85	0.6%
$500,000 to $999,999	50	0.4%
$1,000,000 to $1,999,999	25	0.2%
$2,000,000.01 plus	No more than 10 bps	0.1%

Open an Account Today

Choose from a wide range of accounts and thousands of investments, including over 50+ commission-free ETFs^{Legal Disclaimer footnote 1} and commission-free mutual funds^{Legal Disclaimer footnote 2}.

Open an Account

You're Protected. Get 100% reimbursement for any unauthorized transactions conducted through the Online Investing platform or the RBC Mobile^{Legal Disclaimer footnote ^} app.

See the Guarantee

There may be commissions, trailing commissions, investment fund management fees and expenses associated with investment fund and exchange-traded fund (ETF) investments. RBC Direct Investing Inc. does not offer mutual funds that pay trailing commissions in accordance with rule changes banning such payments to order execution only dealers effective June 1, 2022. To the extent that mutual funds paying trailing commissions are transferred into RBC Direct Investing Inc. or were held at RBC Direct Investing Inc. prior to June 1, 2022, and cannot be switched into an equivalent non-trailer paying fund, any trailing commissions paid to RBC Direct Investing Inc. will be rebated to clients. Before investing, please review the applicable fees, expenses and charges relating to the fund as disclosed in the prospectus, fund facts or ETF facts for the fund. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. For money market funds there can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you.

Legal Disclaimer footnote ^

RBC Mobile is operated by Royal Bank of Canada, RBC Direct Investing Inc. and RBC Dominion Securities Inc.

Legal Disclaimer footnote †

Fees will be charged in the currency of the transaction.

Legal Disclaimer footnote ‡

All other trademarks are the property of their respective owner(s).

Legal Disclaimer footnote

Screenshots are for illustration purposes only.

Legal Disclaimer footnote 1)

The commission fee detailed in the Commission and Fee Schedule as applicable to Stocks and ETFs will be waived for ETFs listed as eligible for commission free trading at the time an order is placed. The list of ETFs eligible for commission-free trading is not guaranteed and may change from time to time. The standard commission fee may be applied to ETFs not listed as eligible for commission-free trading at the time an order is placed. The inclusion or exclusion of any ETF under commission-free trading does not constitute a recommendation by RBC Direct Investing to purchase or sell such securities. RBC Direct Investing Inc. does not provide investment advice or recommendations regarding the purchase or sale of any securities. Investors are responsible for their own investment decisions.

Legal Disclaimer footnote 2)

Mutual fund companies may assess additional fees — for example, deferred sales charges on back-end load funds, early redemption fees, setup fees and fees for insufficient funds for pre-authorized purchases.

Legal Disclaimer footnote 3)

A commission fee of $9.95 (CAD or USD) per trade is applicable to Canadian and U.S equity trades placed online or via RBC Mobile, with the exception of trades eligible for commission-free trading. A lesser fee of $6.95 (CAD or USD) per trade applies when you complete 150 or more commission-paid Canadian or U.S equity trades per quarter online or via RBC Mobile. Additional terms and conditions apply. For complete details, including commissions on international trades or trades placed with an Investment Services Representative, visit Pricing or call 1-800-769-2560.

Legal Disclaimer footnote 4)

Where multiple trade orders are placed on the same day, for the same security and on the same side of the market (i.e. all buy orders or all sell orders), each individual order is subject to the applicable commission rate and is counted as a separate trade. All commissions are charged in the currency in which the security is denominated. Where multiple fills over multiple days are required for the same order, commissions will apply to the order for each separate day the fill is completed.

Legal Disclaimer footnote 5)

Dividends earned pursuant to DRIP may be subject to requirements imposed by the Income Tax Act (Canada). It is your responsibility to ensure that any associated tax requirements or obligations are satisfied.

Legal Disclaimer footnote 6)

The list of DRIP eligible securities is subject to change at any time without prior notice. RBC Direct Investing will purchase whole shares only. Some exclusions may apply. Some eligible securities such as preferred shares and voting class common shares will not reinvest into additional units of the same security but rather the underlying non-voting common share or similar security.

Legal Disclaimer footnote 7)

Real-time streaming quotes are available automatically to all clients for exchange listed stocks, ETFs and most over-the-counter (OTC) securities. Real-time streaming quotes for options and grey market OTC securities are available to all clients upon accepting the terms and conditions of all exchange agreements on the RBC Direct Investing online investing site.

Legal Disclaimer footnote 8)

Level 2 quotes are available on stocks and ETFs that trade on the TSX and TSX-Venture exchanges for all clients. Level 2 quotes are also available on stocks and ETFs that trade on the Canadian Securities Exchange and Nasdaq for Active Trader clients upon accepting the terms and conditions of all exchange agreements on the RBC Direct Investing online investing site.

Legal Disclaimer footnote 9)

Clients who make 30 or more equity/options trades per quarter qualify for our Active Trader program. Quarterly trading activity of clients will be reviewed on a monthly basis on the 22nd of every month. Clients must re-qualify on a monthly basis for Active Trader status to stay in effect. Clients will qualify based on the eligible trading activity from the previous three calendar months (e.g. total trades count from September 1 to November 30, with Active Trader status going into effect on December 22). A trade is defined as a stock, exchange-traded fund (ETF) or option order for which a commission has been charged.

Legal Disclaimer footnote 10)

Switch orders are only permitted within the same family of funds and load types.

Legal Disclaimer footnote 11)

All commissions are charged in the currency in which the security trades. Commission for listed debentures is charged according to the Stocks Commission Schedule. For GICs, RBC Direct Investing receives a one-time payment based on the amount and term of the GIC.

Legal Disclaimer footnote 12)

The Avion Rewards program is offered by Royal Bank of Canada and is subject to the Avion Rewards Terms & Conditions. You may only use your Avion points through RBC Direct Investing to: (1) pay for commissions on trades placed online or through RBC Mobile in Canadian or U.S. stocks, ETFs and options in your eligible RBC Direct Investing accounts; or (2) transfer points to deposit or make cash contributions in CAD to your eligible RBC Direct Investing accounts. It is your responsibility to make sure you have sufficient contribution room within your registered plan when redeeming points for cash in CAD to contribute to your registered accounts and/or when you use your Avion points to pay for commissions on trades placed in Canadian or U.S. stocks, ETFs and options in a registered account. The Canada Revenue Agency may apply tax penalties for over-contributions. RBC Direct Investing is not responsible for any such penalties.

Legal Disclaimer footnote 13)

When you enrol your eligible RBC personal bank account into the RBC Value Program, you will be eligible to earn Avion points within the Avion Rewards Program as an Eligible Personal Banking Client, and any such points earned will be deposited into the Avion Rewards account tied to your enrolled account. Purchases from your account refers to using your RBC Client Card to pay for items at a merchant or service provider with the amount electronically debited directly from your enrolled account or using your RBC Virtual Visa Debit for purchases online. Avion points are governed by the Avion Rewards Terms & Conditions available on our website, or a copy may be provided to you by contacting us. For complete details on the Value Program, please see the Value Program Terms & Conditions.

Legal Disclaimer footnote 14)

By enrolling an eligible RBC personal bank account into the RBC Value Program, holding eligible additional RBC products (“Product Categories”, as more particularly described below), and completing certain activities from your enrolled account each month (as more particularly described below), you may be entitled to receive a partial or full rebate of your enrolled account’s standard Monthly Fee. Eligible Product Categories include RBC personal credit cards, personal investments, residential mortgages, and linked small business relationships. Multiple products in a single Product Category will be considered one Product Category. In addition to having eligible Product Categories, you must also perform any two (2) or more of the following specified account activities in the previous calendar month to or from your enrolled account: a monthly direct deposit, a monthly pre-authorized payment, or an eligible bill payment made at minimum once per month. An eligible bill payment means a bill payment completed through either RBC Online Banking, the RBC Mobile app, using an RBC ATM, or using Telephone Banking Services, and excludes any bill payment made: (i) in-person at an RBC Royal Bank branch with an RBC Advisor, (ii) to an RBC credit card account, or (iii) using an RBC Virtual Visa Debit® associated with your Enrolled Account. Conditions apply. For complete details, please see the Value Program Terms & Conditions.

Legal Disclaimer footnote 15)

Up to $200 in transfer fees will be covered when you transfer $15,000 or more from an investment account held outside RBC to RBC Direct Investing. Clients must provide proof of transfer fee payment to RBC Direct Investing within six months of transfer to be eligible for reimbursement. Please contact an RBC Direct Investing representative for more details at 1-800-769-2560.

Legal Disclaimer footnote 16)

For Royal Circle and Royal Distinction members up to C$500 in transfer fees will be covered when you transfer C$15,000 or more from an investment account held outside RBC Financial Group to RBC Direct Investing. Proof of transfer fee payment must be provided.

Legal Disclaimer footnote 17)

Any out-of-pocket expenses (e.g. courier charges) incurred by RBC Direct Investing will be charged in addition to the fee specified.

Legal Disclaimer footnote 18)

Clients may hold restricted/private shares on an exception-only basis and only as permitted by RBC Direct Investing, in its sole discretion.

Legal Disclaimer footnote 19)

Includes certificates for estates, guardianship, corporate name change, general power of attorney, transfer, trust agreement, bankruptcy and committee

Legal Disclaimer footnote 20)

Debit interest on the exercise cost accrues from the day the funds are sent to the company to the day the shares are received. Regular commission fees on the sale of shares will apply, plus any applicable out-of-pocket expenses charged by the company or its transfer agent.

Legal Disclaimer footnote 21)

The estate account processing fee is waived if it is a Joint with Rights of Survivorship (JWROS) account.

Legal Disclaimer footnote 22)

No longer offered as of January 1, 2014.

Legal Disclaimer footnote 23)

Calculated for demonstration purposes only and rounded to the nearest tenth. RBC Direct Investing uses basis points for foreign currency exchange conversions. The figures shown are based on the trailing 12 month USD/CAD Bank of Canada Daily exchange rate (as of Mar 1st, 2025).

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Commissions, Fees and Rates

Commission-free trading on select ETFs^{Legal Disclaimer footnote 1}

Commission-free mutual funds^{Legal Disclaimer footnote 2}

No account maintenance fees

Do More With Your Money.

Trading Commissions

Fees

Other Ways to Save

Use Avion Points to Pay Trade Commissions

Get Back Your Transfer Fees

Save on Banking Fees.
Earn More Avion^® points.

Rates

Open an Account Today

Commissions, Fees and Rates

Commission-free trading on select ETFsLegal Disclaimer footnote 1

Commission-free mutual fundsLegal Disclaimer footnote 2

No account maintenance fees

Do More With Your Money.

Trading Commissions

Fees

Other Ways to Save

Use Avion Points to Pay Trade Commissions

Get Back Your Transfer Fees

Save on Banking Fees. Earn More Avion® points.

Rates

Open an Account Today

Commission-free trading on select ETFs^{Legal Disclaimer footnote 1}

Commission-free mutual funds^{Legal Disclaimer footnote 2}

Save on Banking Fees.
Earn More Avion^® points.