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As an independent trader who has explored a wide range of brokerages, I find RBC’s fee structure transparent, yet nuanced and worth careful consideration. For standard stock and ETF trading, RBC charges $9.95 per trade if you make fewer than 150 trades per quarter, which drops to $6.95 per trade for higher-frequency traders. Options trading follows a similar model, but with an extra $1.25 per contract on top of the base commission. I think these rates are competitive within major Canadian institutions, though not the cheapest available, and may add up if you’re an active trader. For mutual funds, RBC takes a 1% commission, capped at $50—so costs can be predictable on larger trades. Fixed-income instruments like bonds and GICs start at $25 per transaction, which is fairly typical for retail platforms but could be a factor for frequent fixed-income investors. One area that’s particularly important for me, as someone who occasionally needs to exchange currencies, is the FX spread. The spread for smaller forex transactions is relatively high at up to 1.6% (USD-CAD), tapering down as trade size increases. In my experience, these spreads are notably wider than those found with purpose-built forex brokers, so it’s something to watch if you move larger sums or transact in multiple currencies. Lastly, I noticed there’s a quarterly maintenance fee of $25 if your account balance dips below $15,000, which can be waived under certain conditions. For traders with modest portfolios, this can impact overall returns. Ultimately, I appreciate that RBC’s fees are clearly stated and standardized, but thoughtful evaluation of your trading frequency and account size is crucial before choosing them as your main platform.