Comments on: RBC Direct Discount Brokerage Review http://www.moneysmartsblog.com/rbc-direct-discount-brokerage-review/ Investing and Personal Finance Sat, 11 Feb 2012 04:38:37 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: solomon http://www.moneysmartsblog.com/rbc-direct-discount-brokerage-review/comment-page-1/#comment-92044 solomon Fri, 14 Oct 2011 04:09:13 +0000 http://www.moneysmartsblog.com/?p=2623#comment-92044 My issues are all of the above.. no matter what your wealth. RBC Direct Investing is still in the model of the 80's whereby the customer has to adapt to them instead of them adapting to you. One of my top 3 most frustrating organizations I have dealth with. My issues are all of the above.. no matter what your wealth.

RBC Direct Investing is still in the model of the 80′s whereby the customer has to adapt to them instead of them adapting to you.

One of my top 3 most frustrating organizations I have dealth with.

]]> By: Dave McGuinness http://www.moneysmartsblog.com/rbc-direct-discount-brokerage-review/comment-page-1/#comment-88678 Dave McGuinness Thu, 14 Apr 2011 23:27:43 +0000 http://www.moneysmartsblog.com/?p=2623#comment-88678 I am looking for the Terms and Conditions for the 1 % bonus RBC. Credential Securities had the same promotion in 2010. The only difference I can find so far is that the RBC bonus was completely tax free and Credential Securities is 100% taxable and they issue a T5. If I had the RBC Terms and Conditions I would give it to Credential and they could ask CCRA why the difference. Thank you. I am looking for the Terms and Conditions for the 1 % bonus RBC. Credential Securities had the same promotion in 2010. The only difference I can find so far is that the RBC bonus was completely tax free and Credential Securities is 100% taxable and they issue a T5. If I had the RBC Terms and Conditions I would give it to Credential and they could ask CCRA why the difference. Thank you.

]]> By: Paul http://www.moneysmartsblog.com/rbc-direct-discount-brokerage-review/comment-page-1/#comment-87568 Paul Mon, 28 Feb 2011 17:38:12 +0000 http://www.moneysmartsblog.com/?p=2623#comment-87568 It's not well advertised, you CAN transfer funds electronically to RBC Direct, by adding them as a bill in your source account. Note that it only works for deposits to Registered accounts. I've not had any trouble with customer service. They quickly corrected a trade mistake I made when I sold something in the wrong account. My biggest beef with RBC Direct is common to a lot of online brokers. Online bond trading is terrible. The search is html circa 1993 and the markup for us retail bond investors is brutal. It’s not well advertised, you CAN transfer funds electronically to RBC Direct, by adding them as a bill in your source account. Note that it only works for deposits to Registered accounts.
I’ve not had any trouble with customer service. They quickly corrected a trade mistake I made when I sold something in the wrong account.
My biggest beef with RBC Direct is common to a lot of online brokers. Online bond trading is terrible. The search is html circa 1993 and the markup for us retail bond investors is brutal.

]]> By: JG http://www.moneysmartsblog.com/rbc-direct-discount-brokerage-review/comment-page-1/#comment-85156 JG Fri, 10 Dec 2010 16:05:24 +0000 http://www.moneysmartsblog.com/?p=2623#comment-85156 Don't know why RBC direct investing's service is sooooooooooooo bad. They asked me to do the job myself, and check with me today togive me the refound, but it's totally a differnt answer this morning. Not only I wasted my money, I also wasted my time . I'd better do find a lawer for me! Remember, don't go to them! Don’t know why RBC direct investing’s service is sooooooooooooo bad. They asked me to do the job myself, and check with me today togive me the refound, but it’s totally a differnt answer this morning. Not only I wasted my money, I also wasted my time . I’d better do find a lawer for me!

Remember, don’t go to them!

]]> By: JG http://www.moneysmartsblog.com/rbc-direct-discount-brokerage-review/comment-page-1/#comment-85138 JG Fri, 10 Dec 2010 04:38:17 +0000 http://www.moneysmartsblog.com/?p=2623#comment-85138 RBD direct investing's service makes me so unhappy. Their system is so old and has so many bugs. But when I pointed out that and gave them advices, they argued with me and never try to improve. For example, for the investment commission fee, in the customer service, it says, if you have $100,000 or more in total in household, you will automatically qualify for a flat commission rate of $9.95 per trade. But in the link on the bottom, in very small font, it notes actually you need to call by yourself--hardly to notice! Maybe they do it on purpose to make you lose money! Besides, it is hard to keep it on track by ourselves because we manage our own account seperately even living in the same household, and it didn't indicate what is the time window you need to call to qualify to get all your refound. When I asked, they said maybe not all, can only be some. Some? What does that mean? The answer doesn't make sense and is so not clear.It may make me loose thousands of dollars. In conclusion, to save my money, energy, and time, I'm ready to get out. RBD direct investing’s service makes me so unhappy. Their system is so old and has so many bugs. But when I pointed out that and gave them advices, they argued with me and never try to improve. For example, for the investment commission fee, in the customer service, it says, if you have $100,000 or more in total in household, you will automatically qualify for a flat commission rate of $9.95 per trade. But in the link on the bottom, in very small font, it notes actually you need to call by yourself–hardly to notice! Maybe they do it on purpose to make you lose money! Besides, it is hard to keep it on track by ourselves because we manage our own account seperately even living in the same household, and it didn’t indicate what is the time window you need to call to qualify to get all your refound. When I asked, they said maybe not all, can only be some. Some? What does that mean? The answer doesn’t make sense and is so not clear.It may make me loose thousands of dollars.

In conclusion, to save my money, energy, and time, I’m ready to get out.

]]> By: Mike http://www.moneysmartsblog.com/rbc-direct-discount-brokerage-review/comment-page-1/#comment-71778 Mike Fri, 30 Apr 2010 11:40:44 +0000 http://www.moneysmartsblog.com/?p=2623#comment-71778 Jazzi - I liked the interface at RBC - my complaints had to do with the setup of the account and money transfers if you didn't have a bank account at RBC - that part is inexcusable. Jazzi – I liked the interface at RBC – my complaints had to do with the setup of the account and money transfers if you didn’t have a bank account at RBC – that part is inexcusable.

]]> By: jazzi http://www.moneysmartsblog.com/rbc-direct-discount-brokerage-review/comment-page-1/#comment-71760 jazzi Fri, 30 Apr 2010 03:44:39 +0000 http://www.moneysmartsblog.com/?p=2623#comment-71760 Don't agree. RBC DI was very good. I tried the same 1% promo then went back to investorline because of the drip issue, which i now kind of regret. The only thing i didn't like was the fact that you had to have Drip on all or none, no selection. Other than that, I had excellent dealings with service, and believe me, they were checking often if I was happy with the move over there. RBC is clean, well organised, their site is so much better than BMO, which is disorganised, littered with old content and exprired links. I keep on telling them, but things don't change fast. Example: they have the bright idea to add links to BMO research, and they don't list the stock symbol or company, just the title of the article, so you have 30 links on a page and no idea which companies are being featured. You have to open each pdf to find out the mystery. Other example, the layout on the holdings screen, what a mess, US and CAN all mixed up, with US options in the middle, etc. I hope they get their act together. I think rbc really has a flawless user interface, categorized investments, etc. If they have another promo, i will switch back i think. Worst of all, it seems that bmo is not bundling a single commission for multiple orders for the same stock on a single day, whereas RBC seems to as I was reviewing my trades for 09, say 3 orders sheets (with 10 partial fills on each) on same day for a total commish of 9.95. BMO would charge me 3 times. I need to be absolutely sure rbc is really doing this as a policy. If so, this is a HUGE advantage over bmo. If happens that you want to add more to your position on the same day as price evolves. If true RBC would be giving unlimited buy orders same day on same stock for free!! Don’t agree. RBC DI was very good. I tried the same 1% promo then went back to investorline because of the drip issue, which i now kind of regret.

The only thing i didn’t like was the fact that you had to have Drip on all or none, no selection. Other than that, I had excellent dealings with service, and believe me, they were checking often if I was happy with the move over there.

RBC is clean, well organised, their site is so much better than BMO, which is disorganised, littered with old content and exprired links. I keep on telling them, but things don’t change fast. Example: they have the bright idea to add links to BMO research, and they don’t list the stock symbol or company, just the title of the article, so you have 30 links on a page and no idea which companies are being featured. You have to open each pdf to find out the mystery.

Other example, the layout on the holdings screen, what a mess, US and CAN all mixed up, with US options in the middle, etc. I hope they get their act together.

I think rbc really has a flawless user interface, categorized investments, etc. If they have another promo, i will switch back i think.

Worst of all, it seems that bmo is not bundling a single commission for multiple orders for the same stock on a single day, whereas RBC seems to as I was reviewing my trades for 09, say 3 orders sheets (with 10 partial fills on each) on same day for a total commish of 9.95. BMO would charge me 3 times.

I need to be absolutely sure rbc is really doing this as a policy. If so, this is a HUGE advantage over bmo.

If happens that you want to add more to your position on the same day as price evolves. If true RBC would be giving unlimited buy orders same day on same stock for free!!

]]> By: Working On My 2009 Tax Return – Pep Talk To Me http://www.moneysmartsblog.com/rbc-direct-discount-brokerage-review/comment-page-1/#comment-65546 Working On My 2009 Tax Return – Pep Talk To Me Sat, 13 Mar 2010 19:49:46 +0000 http://www.moneysmartsblog.com/?p=2623#comment-65546 [...] write off the interest on the investment loan.  This is complicated by the fact that switched from RBC Direct to Questrade last year.  Because I sold all the leveraged investments last year, I need also [...]

]]> By: Max http://www.moneysmartsblog.com/rbc-direct-discount-brokerage-review/comment-page-1/#comment-39209 Max Fri, 23 Oct 2009 16:24:08 +0000 http://www.moneysmartsblog.com/?p=2623#comment-39209 Recently RBC Investing did an update on there site. I am a small investor who enjoys trading as a challenge. The site always gave you information on analyst ratings, comments on the market, stock picks , analyst information on different stocks, gas, oil and gold market. Know only the investor with $250,000 can get that information. (THE INNER CIRCLE). Why would a small investor stay with them and pay higher fees and know we don't even get any Stock Analysis information. The site is absolutely useless. Recently RBC Investing did an update on there site. I am a small investor who enjoys trading as a challenge. The site always gave you information on analyst ratings, comments on the market, stock picks , analyst information on different stocks, gas, oil and gold market. Know only the investor with $250,000 can get that information. (THE INNER CIRCLE). Why would a small investor stay with them and pay higher fees and know we don’t even get any Stock Analysis information. The site is absolutely useless.

]]> By: Mike http://www.moneysmartsblog.com/rbc-direct-discount-brokerage-review/comment-page-1/#comment-34297 Mike Sun, 04 Oct 2009 19:51:49 +0000 http://www.moneysmartsblog.com/?p=2623#comment-34297 Although my problem with RBC Direct invoved specifically their ignorance of capital gain tax excemption for securities donated to registered charities, it was their arrogance and unwillingness to accept any responsibility for not keeping me, their, client informed by continuing to forward the company's bullletins, etc. and for surrendering my shares for cash without my authority or even my foreknowledge of their actions, that leads me to say "Don't trust RBC Direct". Their Ombudsman was also a joke. Although my problem with RBC Direct invoved specifically their ignorance of capital gain tax excemption for securities donated to registered charities, it was their arrogance and unwillingness to accept any responsibility for not keeping me, their, client informed by continuing to forward the company’s bullletins, etc. and for surrendering my shares for cash without my authority or even my foreknowledge of their actions, that leads me to say “Don’t trust RBC Direct”. Their Ombudsman was also a joke.

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