RBC Direct Investing to introduce lower commission rates
RBC Direct Investing is introducing lower, simplified commission rates for self-directed investors. The new preferred pricing will be available to clients who qualify on the basis of either trade volume or assets and will allow even more clients to take advantage of reduced rates.
Under the new fee structure, clients with assets of $100,000 or more with RBC Direct Investing, or clients who trade between 30 and 149 times per quarter, will pay a flat rate of $9.95 per Canadian or U.S. equity trade. Options trades for these clients will be $9.95 plus $1.25 per contract. Additionally, clients who make 150 or more trades per quarter will pay a flat rate of $6.95 per Canadian or U.S. equity trade; option trades will be $6.95 plus $1.25 per contract. These new commissions come into effect on December 22, 2007 for trades conducted through RBC Direct Investing’s online investing site or through its automated telephone service.
“If there ever was a time to be a self-directed investor, it’s now,” said Doug Coulter, president and CEO, RBC Direct Investing. “This latest move continues our aggressive strategy to provide investors with greater value and rewards for their business. We’re committed to delivering ongoing enhancements and exceptional value for investors who choose to manage their own portfolios.”
Earlier this year, RBC Direct Investing introduced lower pricing on over 40 RBC Funds. The management fees of Series D units, available exclusively from RBC Direct Investing, range from 0.60 per cent to 1.25 per cent for investors who purchase a minimum of $10,000 per fund.
“With Series D pricing and new lower commissions for more clients, we believe RBC Direct Investing is well positioned to offer self-directed investors the best value in the online brokerage marketplace,” Mr. Coulter added.
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