RBC Direct Investing is launching practice accounts that will allow Canadians to buy and sell a wide range of investments with $100,000 of no-risk “practice money,” the company said Wednesday.

Available to RBC Online Banking and RBC Direct Investing clients, the accounts provide an opportunity to test-drive RBC Direct Investing’s online site and experience real investing without using real money.

“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,” said Jason Storsley, president and CEO, RBC Direct Investing. “Whether you are an experienced investor or just getting started, you can use Practice Accounts to experiment with investing strategies without risking your money.”

RBC Online Banking or RBC Direct Investing clients can activate a Practice Account in a matter of minutes online. The accounts are integrated into the RBC Direct Investing website, with access to tools and learning resources. With $100,000 in no-risk “practice money”, investors will learn how to enter orders, create and track a mock portfolio online and explore investing strategies before putting real money on the line. Investors can choose from a variety of Practice Accounts including RSP, margin and investment cash.

“Self-directed investing doesn’t mean you have to do it all on your own,” said Storsley. “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.”

IE