Can I buy Canadian stocks on Charles Schwab?

Last Updated: 02-Dec-2022

Short Answer

Charles Schwab is a U.S.-based broker which offers many brokerage accounts to its users. You can buy Canadian stocks on the platform although Canadian users cannot open an account with it as it offers its services exclusively in the U.S. Existing account holders can purchase Canadian stocks during the market hours using the broker's platform.

Detailed Answer

What is Charles Schwab?

Charles Schwab is a Multinational American company that offers various financial services to its customers. Some of them include brokerage accounts, trading platforms, and other wealth management and advisory services, both to retail as well as institutions.

Charles Schwab is a very popular as well as a trusted broker. It not only excels at its broking business but also provides high-quality financial services and banking facilities. The platform offers Zero commissions on stocks and ETFs trading whereas charges only $0.65 per options contract.

Can you buy Canadian Stocks from Charles Schwab?

Yes, you can buy Canadian stocks from Charles Schwab as it Is a global broker which gives its users, access to domestic as well as global markets.

You can trade any stocks listed on the Toronto Stock Exchange with the help of your Charles Schwab account. Although Canadian citizens cannot open an account with Charles Schwab as the broker only services U.S clients. Hence, if you are already a U.S citizen or have a Charles Swab account then you can buy or sell Canadian stocks.

How does it work?

To purchase any Canadian securities using Charles Schwab, you can either place a phone-assisted trade or have a chat with the investment advisors at Charles Schwab in order to fulfill your trade The orders will get settled within 'T+2' days and the prices of the shares will be in the dollar ($) denomination. You can place any trade within the U.S market timing, which will be executed once the Canadian markets open.

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Categories: Stock Market
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Discussion (1)

I have an account with Charles Swab and would like to purchase, through my IRA account, stock on the TSX. What do I have to do in order to complete a transaction of this nature? Can this type of acquisition include a 25% trailing stop? What do I need to do to start this process? In terms of liquidity - I seem to recall that there is a 2 day window for trades to complete the action put in play. Is this correct? Can you explain the correct answer in lay man terms, as I do not understand the complexity of this endeavor? Thank you, Cliff

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