RBC Direct Investing (RBC DI) has launched a new web-based trading dashboard aimed at active investors, the bank-owned direct brokerage announced Friday.
The platform, which was rolled out last week and is available free to RBC DI clients, is one part of the firm’s broader efforts to meet the needs of investors flocking to self-directed investing platforms, said Lori Darlington, president and CEO of RBC DI, in an interview.
“More Canadians are looking to take control of their own investment decisions, which is a really exciting trend for the [online brokerage] space,” Darlington said. RBC DI saw a record of number of client acquisitions, and an all-time high in trading volume, during the second quarter of 2021, she added.
The RBC DI trading platform provides “advanced” traders with customizable views of market data, a release said. It offers interactive components and widgets; charting capabilities and drawing tools; and accessible news and research on North American equity markets.
The new platform also provides online video tutorials and simplified display options that allow novice investors “to start with the basics,” said Darlington. She added that over the past 12 months — and throughout 2020 — more than half of new clients joining RBC DI were under the age of 35.
Darlington ascribes younger Canadians’ increasing interest in online investing as “more of a generational shift” as opposed a short-lived trend that will fade with the end of the pandemic. “These investors are getting more comfortable with digital platforms and they really enjoy doing their own research,” she said.
Darlington added that RBC DI is monitoring early client feedback and expects to add other capabilities to the dashboard over time.
In addition to the new platform, RBC DI also offers its traditional online investing platform and a mobile trading platform, which was relaunched in May 2020 in an updated format.