Overall RBC Capital Markets is a trustworthy and low-risk broker with an overall rating of 7 out of 10. RBC is authorized and regulated by IIROC.
RBC Capital Markets at a Glance
| 🔎 Broker's Name | RBC Capital Markets |
| 📍 Headquartered | Toronto, Ontario |
| 📅 Year Founded | 1846 |
| ⚖️ Regulating Authorities | IIROC |
| 🌐 Countries not accepted for trade | This is not indicated |
| ☪️ Islamic account (swap-free) | No |
| 👍 Demo Account | Yes |
| 📊 Institutional Accounts | Yes |
| 📊 Managed Accounts | Yes |
| 📈 Maximum Leverage | None indicated |
| 💰 Minimum Deposit | None indicated |
| 💳 Deposit Options | Generally accepted: · Bank Wire Transfer · Credit/Debit Cards · Neteller, and · Skrill |
| 💳 Withdrawal Options | Generally accepted: · Bank Wire Transfer · Credit/Debit Cards · Neteller, and · Skrill |
| 💻 Platform Types | None indicated, or accepted that there is an RBC Capital Markets proprietary platform |
| 📱 OS Compatibility | Uncertain |
| 📈 Tradable assets offered | Forex, commodities, equities, ETFs, stocks, options, and mutual funds |
| 👨💼 Languages supported on Website | English and French |
| 👥 Customer Support Languages | Multilingual as there are global offices |
| 📆 Customer Service Hours | 24/7 |
| 🚀 Open an Account | 👉 Click Here |
Min Deposit
USD 0
Regulators
IIROC
Trading Platform
Proprietary Platform
Crypto
No
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
RBC Capital Markets Review – 20 key points quick overview:
- RBC Capital Markets at a Glance
- RBC Capital Markets Review – 20 key points quick overview:
- RBC Capital Markets Overview
- RBC Capital Markets Safety or Security
- RBC Capital Markets Leverage
- RBC Capital Markets Accounts
- RBC Capital Markets Market Instruments
- RBC Capital Markets Fees
- RBC Capital Markets Deposit and Withdrawal
- RBC Capital Markets Trading Platforms
- How to open an RBC Capital Markets account step by step
- RBC Capital Markets Customer Support
- RBC Capital Markets Education
- RBC Capital Markets Research
- RBC Capital Markets Awards
- RBC Capital Markets vs Etoro vs XM – Comparison Table
- RBC Capital Markets Pro and Cons
- Conclusion
- Disclaimer
- Frequently Asked Questions
RBC Capital Markets Overview
According to research in South Africa, RBC Capital Markets – is a Canadian-based banking institution that offers a variety of services including the buying and selling of stocks, ETFs, mutual funds, and options.
RBC Capital Markets has a history that dates back to around 1846 when Merchants Bank opened in Canada with the rebranding of the company to RBC Capital Markets in 2000.
RBC Capital Markets also offers the trading of commodities, Forex, and equities although extraordinarily little information is available on this.
RBC Capital markets are not only award-winning and reputable, but it is also well-regulated by IIROC in addition to providing client fund coverage through being a member of the Canadian Investor Protection Fund.
This broker does not quite cater to active traders but has an offering that suits traders and investors who would like to invest and manage their investments in a comprehensive manner.
Min Deposit
USD 0
Regulators
IIROC
Trading Platform
Proprietary Platform
Crypto
No
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
RBC Capital Markets Safety or Security
When choosing a broker, it is imperative that traders ensure that brokers are regulated and authorized only through reputable, well-known regulatory entities.
RBC Capital Markets is strictly and well-regulated by the Investment Industry Regulatory Organization of Canada, more commonly known as IIROC.
Client funds are also further secured by RBC Capital Markets a member of the Canadian Investor Protection Fund.
RBC Capital Markets Leverage
Leverage offered by brokers allows traders to open much larger positions against and despite their initial deposits. This increases the potential for profit, but it also increases the risk of incurring substantial losses that may exceed the trader’s initial deposit.
Brokers offer differing levels of leverage that may often be subjected to and restricted by the regulatory entity through which the broker is authorized and regulated. Leverage can start from 1:1 and even go up to 1:2000.
Should the trader have access to leverage of, for instance, 1:30, and they have made a minimum deposit of $1,000, they can subsequently open positions to the value of $30,000.
As a broker that offers tradable assets such as Forex, commodities, and equities – it is expected that leverage would be provided yet there is no information regarding leverage levels that exist on the website or in prior reviews.
RBC Capital Markets Accounts
RBC Capital Markets is not a conventional broker that offers services to active traders, with the focus more on short- and long-term investors who would like to buy and sell financial instruments such as stocks, ETFs, options, and mutual funds.
There is a variety of accounts that can be opened in managing investments, with the cash or margin accounts intended for traders who would like to invest in assets provided by RBC Capital Markets.
The only information on the specific accounts that can be opened with RBC Capital Markets pertains to the types, which include:
RRSP
RRIF
TFSA, and
Cash or Margin Accounts
There is an option for demo account opening, but there is no information that exists to indicate that RBC Capital Markets makes provision for an Islamic or Swap-Free Account option for Muslim traders who follow the Sharia Law.
Islamic or Swap-Free accounts are often provided for Muslim traders as the Sharia Law depicts that interest paid by one party to another is wasteful and exploitive, and thus Muslim Traders are prohibited from paying Overnight Fees, which are a type of interest.
Each broker offers different trading conditions that appeal to and cater to different types of traders depending on their level of knowledge, skill, and experience along with different financial needs and limits.
Min Deposit
USD 0
Regulators
IIROC
Trading Platform
Proprietary Platform
Crypto
No
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
RBC Capital Markets Market Instruments
RBC Capital Markets offers to trade in several financial instruments, including:
- Forex
- Commodities
- Equities
- ETFs
- Mutual Funds
- Stocks, and
- Options
Truly little information is available on the types of ETFs, mutual funds, stocks, and options provided by RBC Capital Markets.
Commodities
RBC Capital Markets offers to trade in all major commodity areas such as crude oil, natural gas, carbon emissions, metals, and agriculture. There is a dedicated commodities team that provides traders with the needed insight and expertise when trading.
Equities
The only information available is that pertaining to RBC Capital Markets’ dedication and provision of an Equity Research Team which consists of analysts and associates who are distributed across North America, the UK, Europe, and the Asia-Pacific region.
Forex
RBC Capital Markets claims to provide Forex solutions that are client-focused and that client needs are met in G10 along with emerging market currencies with Forex strategists that aid clients in mitigating risks while optimizing their investment opportunities.
RBC Capital Markets Fees
There can be differentiated between two types of fees that traders can encounter when opening an account with RBC Capital Markets, these are trading and non-trading fees.
Trading fees are related to the costs when trades are executed while non-trading fees pertain to broker fees, which is how brokers make their money, such fees include commissions, spreads, margin requirements, and deposit and withdrawal fees, among others.
Due to its multiple service delivery, RBC Capital Markets is reportedly not the cheapest broker, yet it is also not the most expensive either.
The fee breakdown differs greatly from that of conventional brokers as RBC Capital Markets predominantly focuses on investors rather than active traders, although it still facilitates trading.
When trading stocks with RBC Capital Markets, traders can expect a flat rate of $9.95 per transaction, and should traders execute more than 150 trades within a quarter, per quarter, the commissions decrease to a flat rate of $6.95 per transaction.
But exceeding this amount of trades within a quarter may lead to exuberant costs so there is no middle ground that exists between low-volume and high-volume trades where it can be considered beneficial when considering managing the cost of trades.
Although there are no fees involved to either buy, sell, or switch mutual funds by using RBC Capital Markets’ online site, when compared to brokers with similar offerings, such as Questrade, ETFs are not on a free trade basis.
RBC Capital Markets does not charge account maintenance as long as the account balance remains at a minimum of $15,000. Should this requirement not be met, there is a $25 fee per quarter which will be deducted from the account.
RBC Capital Markets Deposit and Withdrawal
There is no minimum deposit requirement which is indicated, or a margin requirement when investing or trading. Traders will have to contact RBC Capital Markets to verify any minimums when opening an account.
RBC Capital Markets website, and prior reviews, do not provide substantial information relating to either deposits or withdrawals. It can be assumed that the major and common payment methods will be supported, such as:
Bank Wire Transfer
Credit/Debit Cards
Neteller, and
Skrill
As with the payment methods, there is no definitive indication of the accepted or supported deposit currencies, but it can be safely assumed that RBC Capital Markets will make provision for currencies such as CAD and USD.
Min Deposit
USD 0
Regulators
IIROC
Trading Platform
Proprietary Platform
Crypto
No
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
RBC Capital Markets Trading Platforms
Trading platforms serve as the trading environment, or vehicle, through which transactions are executed and brokers may offer a variety of trading platforms, or they may rely on their own proprietary in-house trading platform which is tailored to their trading conditions.
There is no information pertaining to the trading platforms that RBC Capital Markets uses, and this may be the result of RBC Capital Markets providing its own proprietary web-based platform so that trading and investment can be facilitated directly.
How to open an RBC Capital Markets account step by step
Opening an Account with RBC Capital Markets is a relatively simple process, which will consist of the following steps:
Step 1 – Open Your Account
Visit the RBC Capital Markets website, Click on “Get Started” in the bottom right-hand corner of the website
Step 2 – Fill out the form
In order to register an account with RBC Capital Markets, traders and investors will have to visit the broker’s website and click on the relevant link provided.
The online application must be completed and submitted. The process, in its entirety, takes around 24 hours as the application has to be processed and information along with relevant documents that have to be verified.
Applicants will be contacted after this period has passed with the progress or result of their application, after which their account can be funded, and trading or investment can commence.
Min Deposit
USD 0
Regulators
IIROC
Trading Platform
Proprietary Platform
Crypto
No
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
RBC Capital Markets Customer Support
There is no information on Customer Support and the avenues that can be followed to get in touch with RBC Capital Markets. There is no direct link provided on the website and prior reviews do not mention such either.
The only contact information provided for RBC Capital Markets is the telephone numbers for each of its global offices in various countries and jurisdictions, but email addresses and departments are not specified.
In addition, there are social media platform links provided at the bottom of the website related to contact via either LinkedIn, Twitter, or YouTube although these avenues are not conventional and do not cater for one-on-one customer sessions.
RBC Capital Markets Education
Provision is not adequately made for education, suggesting that this broker has tailored its services more to expert and professional traders and investors.
Although there is substantial information available on the internet through various sources pertaining to the assets that this broker provides, traders will need to learn more about the specific products and services this broker offers.
RBC Capital Markets, however, does provide demo accounts that can be opened, allowing traders and investors to explore the brokers offering in a more detailed manner.
RBC Capital Markets Research
The research tools and resources provided are not quite as adequate and focus more on the essential information pertaining to assets than trying to help traders and investors identify which asset has the best performance, or how better trading or investing can be conducted.
There is a screener provided which caters to stocks, mutual funds, and ETFs which provides some assistance in the analysis, but it may not be useful for anyone other than the most basic of investors.
Provision is made for mutual fund research through the Morningstar research but even this in itself is not adequate.
RBC Capital Markets Awards
RBC Capital Markets is a reputable and award-winning broker with a comprehensive list of awards that have been obtained in its many years of operation. Some of these include:
Best Investment Bank in Canada – 2019
Best FX Provider – 2019
Share and Quality Leader in Canadian Equities and Fixed Income – 2019, and more.
RBC Capital Markets vs Etoro vs XM – Comparison Table
| 🔎 Broker | 🥇RBC Capital Markets | 🥈 eToro | 🥉 XM |
| 💰 Minimum Deposit | None indicated | $1000 USD | $5 USD |
| 📝 Sign-Up Bonus | No | ☑️ Yes | ☑️ Yes |
| ➕ Max. Leverage | None indicated | 1:400 | 1:888 |
| 💵 Currency Pairs | – | 47 | 57 |
| 🚀 Open an Account | 👉 Click Here | 👉 Click Here | 👉 Click Here |
RBC Capital Markets Pro and Cons
| ✔️ Pros | ❌ Cons |
| 1. Reputable and award-winning | 1. Not suitable for active traders |
| 2. Well-regulated by IIROC | 2. €3,000 minimum deposit |
| 3. Wide selection of GICs | 3. Not suitable for beginners |
| 4. Demo Accounts available | 4. Exceedingly little information available on tradable assets |
| 5. Mobile account management available | 5. Metatrader is not offered |
| 6. Global presence | 6. Leverage not provided |
| 7. Account maintenance fees are applied if the account balance is <$15,000 |
Conclusion
Overall, RBC Capital Markets is a trustworthy and reliable broker that provides traders with comprehensive digital tools. RBC Capital Markets provides its own proprietary web-based platform. RBC Capital Markets is regulated by IIROC.
Disclaimer
There are numerous benefits involved in the trading of financial assets such as Forex, commodities, and others in addition to longer-term investments pertaining to stocks, ETFs, options, and mutual funds.
These risks may lead to the incurrence of losses that can exceed the trader or investor’s initial capital and thus traders and investors alike are cautioned and advised to ensure that they evaluate their objectives, and financial situations before trading or investing.
RBC Capital Markets cannot be held liable for any losses incurred as a fault of traders or investors and thus it is necessary for traders and investors to evaluate their risk tolerance, exposure to risk, and their willingness to be exposed to risk.
Frequently Asked Questions
How many instruments can I trade with RBC Capital Markets?
You can trade and invest in a variety of financial instruments, which include the following:
- Forex
- Commodities
- Equities
- ETFs
- Mutual Funds
- Stocks, and
- Options
Which platforms are supported by RBC Capital Markets?
This is not indicated on the website or in prior reviews, thus it can be assumed that RBC Capital Markets provides its own proprietary trading and investing platforms.
Does RBC Capital Markets offer leverage?
No. This information is not available on the website or in previous reviews.
Does RBC Capital Markets charge a commission?
Yes. Commissions are charged at $9.95 per transaction when trading or investing in stocks. This can however be decreased to $6.95 when 150 trades are made in a quarter.
What is the overall rating out of 10 for RBC Capital Markets?
7/10
Top 4 Brokers
