Royal Bank Targets Retail Investors with the Launch of GoSmart Trading Platform

Canada’s largest publicly traded firm has launched a mobile-based solution designed to “empower new and aspiring self-directed investors.”

The Royal Bank of Canada, valued by shareholders and the market at more than $300 billion, this week unveiled GoSmart.

GoSmart, a product of RBC’s Direct Investing arm, combines speed and convenience with “commission-free trading on your terms,” according to a statement from Canada’s financial titan.

Dimitri Busevs, chief executive officer of RBC Direct Investing, says “with GoSmart, we’re demystifying investing and championing a new era of financial empowerment for new investors.”

The solution, Busevs says, is “developed from direct client insights and powered by RBC.”

“GoSmart will help guide the next generation of self-directed investors every step of the way,” the CEO stated.

RBC clients can open an account in minutes, transfer funds from their bank account, and trade commission-free, according to the bank.

For new investors who are unsure of where to start and are seeking a simple, cost-effective way to invest, Busevs says GoSmart offers an automated investment solution to help them confidently build wealth on their terms.

For those with more experience, GoSmart provides users the flexibility to actively select individual stocks and ETFs.

The app allows users to buy or sell any Canadian or U.S. listed stock or ETF with 50 commission-free trades per year, Busevs notes, or trade a certain selection of ETFs that are always free.

GoSmart is compatible with the Tax-Free Savings Account, Registered Retirement Savings Plan, and First Home Savings Account, according to RBC.

The Royal Bank of Canada—which is part of the Defence, Security, and Resilience Bank Development Group—recently warned that AI tech has “become a weapon for cyber criminals who are targeting Canadians’ personal data with increasingly sophisticated threats.”