Not Sure Where to Start? Try Investing with 100,000 Practice Dollars

Trying new things can make people nervous. Now imagine trying something new with your money. Yikes!

Wouldn't it be great if you could test-drive different types of investments and see what it's like to buy specific stocks, mutual funds and other options you've heard about? Well, you actually can – with a practice account.

For new and aspiring do-it-yourself investors, a practice account allows you to try online investing risk-free. You don't have to use your own money, which means you have the freedom to try anything. You can build your confidence by practicing buying and selling stocks, ETFs and options. You get to practice as much as you want, without risking a penny! You get access to the same tools you'd use to make actual trades to help you become a better investor.

An RBC Direct Investing practice account, for example, comes with $100,000 of practice money and access to the same online investing site you'd use to manage real investments.

"In my practice account, I bought lots of tech stocks that I've always wanted to buy. It's fun to see how you do over time," says Kanwal, an RBC employee. "I learned how to calculate the number of shares to buy and how to place orders."

Some people say practice makes perfect. With a practice account, your version could be "practice makes profit."

Quick tip: Practice accounts are available to RBC Direct Investing clients and RBC Online Banking clients.

* This article was updated on October 1, 2018