RBC Direct Investing has launched Practice Accounts (PA), an integrated offering of its kind by a Canadian self-directed brokerage. Available to RBC Online Banking and RBC Direct Investing clients, PA allows Canadians to buy and sell investments up to $100,000 of no-risk practice money. RBC Direct has said that PA provides an opportunity to test-drive RBC Direct Investing’s online site, and experience real investing without using real money.
The company has added that clients can easily activate PA in a matter of minutes by following a few steps online. The accounts are integrated into the RBC Direct Investing online site, with access to tools and learning resources. Investors can choose from a variety of Practice Accounts including RSP, margin and investment cash.
Jason Storsley, president and CEO, said: Practice Accounts are a powerful new feature that provides online investors with the opportunity to hone their investing skills so they can make informed and confident decisions. Whether you are an experienced investor or just getting started, you can use Practice Accounts to experiment with investing strategies without risking your money.
We want to assist our clients in building investment knowledge to help them achieve their short and long-term goals. That’s why we’ve introduced a Guidance and Planning section which is an ideal place for clients to learn everything from how to achieve specific goals to advanced investing strategies and concepts, he added.
RBC Direct Investing, a wholly-owned subsidiary of Royal Bank of Canada, is a discount broker. It offers tools and resources for investors who prefer to manage all or a portion of their investment portfolio.
