Practice Accounts: Frequently Asked Questions

How Do I Access My Practice Accounts?

• RBC Direct Investing clients: Access your Practice Accounts from the Home menu
• RBC Online Banking clients: Log in to RBC Online Banking. From the Accounts Summary tab, under Investments, select “RBC Direct Investing Practice Account” to access the RBC Direct Investing site

How Do I Know I’m Using a Practice Account?

You will know that you are in practice mode because:

• The colour scheme of the page will change from grey to tan
• The account number shown in the drop-down menu starts with PRAC
• A warning message will appear alerting you that you’re in “practice” mode and you will see a book icon

How Are Margins Calculated in a Practice Account?

The margin calculation is a simplified process where rates are applied based on groupings:

Equities

• $5.00 and over 50%
• $3.00 - $4.99 25%
• $2.99 and under 0%

Rights & Warrants

• $5.00 and over 50%
• $3.00 - $4.99 25%
• $2.99 and under 0%

Mutual funds

• $3.00 and over 50%
• $2.99 and under 0%

Labour Sponsored Investment Funds (LSIF)

All 0%

Fixed income

All 80%

Cash

All 100%

Are Trade Execution Times for Practice Accounts Similar to Those for Actual Accounts?

The intention is to provide an experience similar to that of real accounts but delays may occur as a result of capacity issues. Trades will execute only if the daily quantity traded is not equal to $0. If you do not qualify for real-time quotes, the trades will be filled from approximately 9:45 a.m. ET to 4:15 p.m. ET to allow for the delay in quotes.

After an Investment Order Has Been Filled, When Will I See the Securities in My Account?

1. Stocks – same day the order was filled
2. Options – same day the order was filled
3. Mutual Funds – can take up to the order's settlement date
4. Fixed Income – can take up to the order's settlement date

How Do I Increase/Decrease the Cash Balance in My Practice Account?

Select “Transfer Funds” to transfer cash to and from your Practice Account. You will notice a “Practice bank account” in the “From account” drop-down menu to allow you to transfer funds without using real money.

How Can I Change the Quantity of My Holdings in My Practice Account?

From the Person icon, select “View Profile & Account Settings.” Next, select “Edit a Practice Account’” from the “Practice Account Preferences” section at the bottom of the page. Choose the account you want to edit and change the quantity of the security you’d like to alter. (Note: Practice Accounts don’t update automatically to reflect stock splits, so this option allows you to update quantities manually.) 

How Do I Close My Practice Account?

Go to the Person icon > View Profile & Account Settings > Practice Account Preferences > Delete Practice Accounts. If you do not have a real RBC Direct Investing account and you only hold one Practice Account, you will have to contact us directly via Secure Message Centre or by calling 1-800-769-2560 to have your profile closed. Alternatively, the account will automatically close if you do not access the Practice Account after nine months.

Will My Practice Account Ever Be Restricted?

There are occasional days when trading volumes are especially high. To ensure that clients can execute “real” trades without interruption, Practice Accounts may be temporarily disabled.  

Read More

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OPEN A PRACTICE ACCOUNT