$6.95 per trade continues for active traders
TORONTO, Jan. 14, 2014 /CNW/ - Starting today, all investors will pay a
flat commission of only $9.95 per equity trade through RBC Direct
Investing online and mobile channels. This low commission applies
regardless of the size of investors' trading accounts or how often they
trade. Until now, investors had to meet a minimum account balance or
trading threshold to benefit from lower commissions.
"We are focused on removing barriers for those with fewer assets to
invest who have found it challenging to obtain lower trade commissions
and on helping clients keep their costs down," explained Rosalyn Kent,
president and CEO of RBC Direct Investing. "We recognize that many
Canadians who are interested in managing their own investments have
smaller balances."
For clients who are active traders - those making 150 trades or more per
quarter - RBC Direct Investing continues to offer an even lower $6.95
flat fee commission. In an industry study conducted by Ipsos Reid in
2013, trade commission pricing was one of the key factors identified by
potential investors when choosing an online brokerage. Another key
factor was the assistance provided in helping investors learn more
about investing.
"Self-directed investors can sometimes be intimidated by the amount of
information available and feel isolated when making investment
decisions on their own," noted Kent. "This is where our online Community can help. Within Community, members can connect with like-minded investors to exchange ideas,
obtain opinions about their investments from other members and learn
from each other in a secure online environment."
Community was launched in 2013 as a secure online meeting space for RBC Direct
Investing clients to discuss all aspects of self-directed investing.
Members participate through anonymous user names. This anonymity
enables Community members to compare their holdings to those with similar goals, time
horizons and appetite for risk and to ask questions of "investors like
me."
Community and the new $9.95 flat commission are just two of RBC Direct Investing's
recent industry-leading initiatives. In the fall of 2013, the brokerage
announced that the initial minimum investment purchase amount for
Series D mutual funds was being significantly lowered and that three
more mutual fund companies would be launching Series D versions of
their own funds. More information about these and other initiatives is
available at www.rbcdirectinvesting.com.
About RBC Direct Investing
One of Canada's leading online brokerages, RBC Direct Investing is a
wholly owned subsidiary of Royal Bank of Canada. RBC Direct Investing
provides innovative tools and resources for investors who prefer to
manage all or a portion of their investment portfolio. Clients have
online access to their investments 24/7 and can choose from a broad
range of investment products, including stocks, bonds, exchange-traded
funds, GICs, and thousands of mutual funds. Online innovations such as Practice Accounts and the new RBC Direct Investing Community - together with comprehensive learning resources - help give all online
investors the confidence they need to manage their own investments. RBC
Direct Investing offers access to Series D mutual funds, a series created and priced for self-directed investors,
providing them with lower pricing for conducting their own research and
making their own investment decisions. For new as well as seasoned
investors who wish to speak to someone directly, RBC Direct Investing
has an award-winning team of investment services representatives
available to respond to clients' account and trading inquiries. RBC
Direct Investing is a Member of the Canadian Investor Protection Fund.
For more information, please visit www.rbcdirectinvesting.com.
SOURCE RBC
Kathy Bevan, RBC Communications, 416 974-8820, kathy.bevan@rbc.com
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