How Can Canadians Invest In The Us Stock Market?

I am a Canadian citizen and I want to invest in the US stock market. I have searched through the web a couple of times but I cannot find a clear way to do it. I was looking at joining Questrade, but from what I see Questrade has no option of trading US stocks. Of course, I have not joined Questrade yet, so I don’t really know if they provide that option. I also don’t know if investing in the US stock market is as simple as just joining a discount brokerage in Canada or the US. Any insight on the matter would be helpful. Thanks.

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4 Responses to “How Can Canadians Invest In The Us Stock Market?”

  1. GOD says:

    In the US banks offer investments called ADRs (American Depository Reciepts) These allow US investors to invest in foreign companies by paying US dollars to buy the shares of the Asian or European companies. I assume Canada has an equivalent. I would look into CDRs or something like that to see if they exist.
    You could open a US broker account but you might have to pay more taxes if you do. In the US we have social security numbers that we have to give to the broker to let them know we are US citizens. I’m sure there is a canadian equivalent, so it would be possible, just might not be a good idea.

  2. Raysor says:

    I cannot believe a Canadian citizen cannot easily buy US stocks via a broker (on-line oe otherwise). I am in UK and can just pick up the ‘phone and buy whatever US stock I like.
    It is difficult or impossible for US or Canadian residents to deal through a London broker (US/CAD tax regulations).
    Why not just phone Questrade and ask this question???
    If they don’t do it I am sure they will tell you who will (or if it is possible or not)

  3. Aileen says:

    There are two ways for Non-US Citizen’s to invest in U.S. Stock market:
    1. Go through a local broker
    2. Open an account with U.S. Based Broker

  4. Neil James says:

    Any Canadian broker will sell American stocks with nothing but exchange rate difference in their price. It is a given. You must not be a stock trader at all.

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