Checked by hand in July 2026. The full detail is in the table below.
RBC spreads its investing offer across three platforms. Wealthsimple has one. Comparing them means knowing which RBC product you're talking about.
Checked by hand in July 2026. The full detail is in the table below.
Direct Investing for the self-directed, GoSmart for beginners, InvestEase for managed. Each matches a different side of Wealthsimple.
| Criterion | Wealthsimple | RBC |
|---|---|---|
| Commission on stocks | $0 | $9.95 at Direct Investing, $6.95 above 150 trades per quarter |
| Quarterly maintenance fee | None | $25 at Direct Investing when the balance sits under $15,000 |
| Commission-free option | $0 permanently | GoSmart: 50 free trades a year, unlimited iShares ETFs |
| Automated managed account | 0.5% per year, 0.4% above $100,000, plus ETF fees | InvestEase: 0.5% per year, plus ETF fees of 0.11% to 0.30% |
| Minimum balance | None | None at GoSmart and InvestEase |
| Options and margin | Not offered | Offered at Direct Investing |
| ETF selection in managed portfolios | Diversified across multiple providers | Portfolios built with RBC iShares ETFs |
| Physical branches | None | Largest network in Canada |
| Mortgage and loans | No | Yes |
| Crypto | Yes | No |
| Built-in tax filing | Yes, free | No |
| Client contest | Monthly Millionaire, $1M per month | No equivalent |
| Sign-up bonus | $25 with LOIO3A, plus $10 by Interac from us | Occasional promotions |
Manually verified in July 2026. Bank fee schedules change without notice: confirm before opening.
RBC Direct Investing charges $9.95 a trade, which sits in the normal range for bank brokerages. The detail that catches people is the $25 quarterly maintenance fee applied to accounts whose balance stays under $15,000.
A hundred dollars a year on a $5,000 account is 2% of the portfolio gone before you've bought anything. For someone starting out, that's the kind of fee that erases years of return.
Wealthsimple has no maintenance fee, no minimum balance and no commission. RBC did respond to the problem with GoSmart, which drops the maintenance fee and includes fifty free trades a year plus unlimited free iShares ETF purchases.
On automated managed accounts the two line up: 0.5% a year in management fees, plus the internal costs of the ETFs held. It's one of the rare places where a big Canadian bank genuinely matches an independent's pricing.
Two things separate them. Wealthsimple drops to 0.4% above $100,000 in assets, which InvestEase doesn't mirror in the same way. And InvestEase portfolios are built from RBC iShares ETFs, while Wealthsimple draws from several providers.
A client already at RBC who wants a managed portfolio doesn't gain much by switching institutions for that reason alone.
Self-directed portfolio under $15,000: Wealthsimple, no hesitation. Direct Investing's $25 a quarter is disqualifying at that size, and GoSmart caps out at fifty trades.
You want a managed portfolio and you're already an RBC client: InvestEase does the job at the same price. Switching makes sense mainly if you want crypto, free tax filing, or the lower fee tier above $100,000.
You use margin or options: Direct Investing, since Wealthsimple offers no alternative.
Large portfolio with complex needs, mortgage and estate planning in the mix: RBC covers the whole picture in a way no digital platform does today.
No minimum, no maintenance fee. Code LOIO3A: a $25 bonus after a $100 deposit, plus $10 by Interac e-Transfer after the claim form, for $35 total.
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