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RBC Direct Investing

Online Experience Signal Customer Service Signal Mobile Experience Signal

Superior Firm

Good: < 12 hours

Average Firm


2018 Brokerage Review 2018 Mobile Brokerage Review
Score: 68% Score: 35%
Rank: 6th Rank: 7th
12 Firms Reviewed 11 Firms Reviewed
Surviscor Assessment:
Inital Experience
 Below Average
Service Experience
 Above Average
Mobile Experience
 Below Average
User Experience
 Average
Account Experience
 Average
Market Analysis Experience
 Average
Transactional Experience
 Average
Investing & Planning Experience
 Above Average
Cost of Services
 Average
Surviscor Assessment:
Inital Experience
 Below Average
User Experience
 Average
Account Experience
 Below Average
Market Analaysis Experience
 Above Average
Transactional Experience
 Below Average
Mobile Resources
 Below Average
Online Highlights

RBC Direct Investing is on the outside looking in at the top 5 in terms of Online discount self-directed brokerage, earning 2 sub-category but no category honours in the 2018 review.

  • Improved service levels
  • Good brokerage and banking integration
  • 'Show Me' educational videos</li>
Mobile Highlights
  • Good market information
  • Alerting capabilities
Drawbacks
  • Average commission structures despite marketing lower fees
  • Below average charting and technical resources
Drawbacks
  • Older design
  • Limited supporting resources

Brokerage Rankings

Qtrade Investor provides the best overall online investor experience in the Canadian Online Discount Self-Directed Brokerage landscape, repeating for the third straight year as the top ranked firm in 2018 with another convincing win and a score of 85%. Questrade remained in 2nd place while past multi-winner BMO InvestorLine took sole possession of 3rd place.

1 Qtrade Investor 85%
2 Questrade 79%
3 BMO InvestorLine 75%
4 Scotia iTRADE 73%
5 TD Direct Investing 69%
6 RBC Direct Investing 68%
7 Interactive Brokers 67%
8 Virtual Brokers 62%
9 National Bank Direct Brokerage 59%
10 CIBC Investor's Edge 58%
11 Desjardins Online Brokerage 56%
12 HSBC InvestDirect 51%
Newly reviewed Interactive Brokers provides the best overall mobile brokerage experience in Canada according to Surviscor's 2018 Mobile Brokerage scorCard Review. Questrade remained in second place while the 2017 top-ranked firm BMO InvestorLine rounded up the top three.

1 Interactive Brokers 94%
2 Questrade 64%
3 BMO InvestorLine 57%
4 Qtrade Investor 48%
5 Scotia iTRADE 43%
6 TD Direct Investing 42%
7 RBC Direct Investing 35%
8 National Bank Direct Brokerage 31%
9 Virtual Brokers 30%
10 CIBC Investor's Edge 26%
11 Desjardins Online Brokerage 24%

For the 6th straight year, MoneySense and Surviscor partnered to produce the annual Canada's Best Canadian Online Brokerages review. The study was conducted in April and May 2018 using Surviscor's most recent Canadian online and mobile brokerage features, functionality and service data to support the conclusions.

The methodology and results were jointly produced by Surviscor and MoneySense. CLICK on any firm for more detailed information and educational content. Additional Canadian brokerage firms not mentioned as well as all Canadian banking firms can be found by clicking: LEARN MORE ABOUT THE FIRMS

The overall and category top three picks and resulting scores were:

BEST OVERALL FIRMS

1.Qtrade Investor: 22 points

2.Questrade: 21 points

T3.Scotia iTRADE: 14 points

T3.BMO Investorline: 14 points

Initial Impression

1.Questrade: 13 points

2.iTRADE: 9 points

3.TD Direct Investing: 9 points

User Experience (UX)

1.Qtrade Investor: 40 points

2.Scotia iTRADE: 31 points

3.BMO Investorline: 30 points

Mobile Accessibility

1.BMO Investorline: 26 points

2.Questrade: 14 points

3.Qtrade Investor: 10 points

Service Interaction

1.Qtrade Investor: 8 points

2.RBC Direct Investing: 7 points

3.Questrade: 6 points

Best Online Brokerage for ETFs

1.National Bank Direct Brokerage: 17 points

2.Qtrade Investor: 16 points

3.BMO Investorline: 13 points

Market Data

1.TD Direct Investing: 20 points

2.Qtrade Investor: 17 points

3.RBC Direct Investing: 9 points

Fees and Commissions

1.HSBC InvestDirect: 10 points

2.Questrade: 10 points

3.CIBC Investor's Edge: 7 points

Digital release date: May 22, 2018

Read Full Story

Interactive COMPARISON GRID

Service Level Rankings

For the third consecutive year, Qtrade Investor is the leader in customer service amongst Canadian self-directed brokerage firms, as measured by the 2017 Surviscor Service Level Assessment review. The review, now in its 13th year, analyzed 170 'mystery shopper' service enquiries per firm and over 2,500 industry enquiries in 2017. RBC Direct Investing, Desjardins Online Brokerage and Credential Direct rounded up the top three. 

1 Qtrade Investor 96%
2 RBC Direct Investing 86%
3 Desjardins Online Brokerage 74%
4 Scotia iTRADE 66%
5 Interactive Brokers 54%
6 Questrade 36%
7 HSBC InvestDirect 28%
8 Jitney Trade 28%
9 National Bank Direct Brokerage 28%
10 TD Direct Investing 20%
11 CIBC Investor's Edge 16%
12 BMO InvestorLine 12%
13 Virtual Brokers 8%
14 Laurentian Bank Discount Brokerage 4%



Current Rank 1
Overall Score (%) 99
Current Service Rating (%) 85
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Current Rank 3
Overall Score (%) 71
Current Service Rating (%) 85
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