What Account Types and Fees Does RBC Securities Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Individual investors, beginners |
Access to a wide range of investment products, educational resources |
Suitable for all levels of trading experience |
| Professional Account |
Experienced traders, institutions |
Higher leverage, reduced trading fees, advanced trading tools |
Requires minimum trading volume qualifications |
| Corporate Account |
Businesses, partnerships |
Customizable services, dedicated account management |
Requires corporate documentation |
| Islamic Account |
Traders requiring swap-free options |
No overnight interest fees, compliant with Islamic finance principles |
Requires verification of Islamic finance requirements |
| Demo Account |
New traders, those wanting to practice |
Virtual trading environment, no risk involved |
Free and available to all users for practice |
Account Opening Process
To open an account with RBC Securities, prospective clients must follow a structured process:
1. Submit Personal Information: Provide basic personal details including name, address, and contact information.
2. Employment Information: Disclose information regarding your employment status and financial background.
3. Financial Information: Share details about your financial situation, including income and investment experience.
4. Identity Verification: Clients are required to submit identification documents, such as a government-issued ID and proof of address (e.g., utility bill).
5. Account Flexibility: After opening a retail account, clients have the option to upgrade to a professional account if their trading volume meets the necessary criteria.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for major pairs |
| Forex (GBP/USD) |
1.0 |
$0 (ECN: $3.5/lot) |
Competitive rates for major pairs |
| CFDs (Stock Indices) |
1.5 |
$5 per contract |
Varied spreads depending on market conditions |
| CFDs (Commodities) |
2.0 |
$5 per contract |
Includes gold and oil |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable based on market volatility |
Other Fees
Clients should be aware of additional costs that may apply:
– Deposit Fees: Typically free for local transfers; international deposits may incur charges.
– Withdrawal Fees: Fees may apply based on the method of withdrawal.
– Inactivity Fees: Charged if there is no trading activity for a specified period.
– Platform Usage Fees: None for standard accounts, but specialized tools may incur fees.
– Overnight Interest: Applicable swap rates if positions are held overnight (except for Islamic accounts).
– Currency Conversion Fees: May apply for trading in different currencies.
