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In my experience trading with brokers like RBC Direct Investing, one of the aspects I always pay close attention to is the foreign exchange spread, as this can significantly impact overall trading costs. Based on what I found through careful research, RBC’s spreads for currency conversion, including USD/CAD which closely indicates their approach to major pairs such as EUR/USD, can be quite wide compared to dedicated forex platforms. Specifically, for transactions up to $24,999 in notional value, the spread is as high as 1.6%. This is a percentage-based spread, which is considerably larger than the fixed pip spreads that are common among specialized forex brokers, where spreads of 1–2 pips on pairs like EUR/USD are typical. The reason for this higher spread is largely because RBC positions itself as a direct investing platform focused on a range of asset classes, not as a dedicated spot forex broker. Their fee structure suits investors making occasional currency conversions during international stock trading, rather than frequent currency trading for pure speculation. For me, this means that if tight spreads on major pairs like EUR/USD are a priority, I need to be aware that RBC may not be the most cost-efficient choice for high-frequency or lower-margin forex trading. This higher spread reflects RBC’s focus on regulatory compliance and general investment services rather than catering to active forex traders.