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Can I buy Soulgate stock?

Soulgate will no longer be going public. But you can still buy stock in similar companies.

Updated Feb 18, 2022. What changed?

Fact checked

Tencent-backed Chinese dating app, Soul, has cancelled plans to go public in the US through its parent company, Soulgate Inc. Learn more about the withdrawn IPO, and find out about similar companies you can invest in from Canada.

Note: All dollar amounts on this page are in US dollars unless otherwise stated.

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Beginners

CIBC Investor's Edge

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Global Trading

Interactive Brokers

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Commodity Stocks

Scotia iTRADE

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Free Trades

Wealthsimple Trade

We evaluate stock trading platforms against a range of metrics that include fees, ease of use, available securities and advanced tools to meet specific investor needs. You can learn more about our methodology here. We encourage you to compare stock platforms to find one that's best for your particular budget and goals.

Our pick for beginners. We chose CIBC Investor's Edge for this category because it offers low and competitive fees, as well as an easy-to-use, user-friendly interface and provides a number of learning resources to help you get acquainted with the platform. In addition, students can take advantage of special pricing for making trades if they have a CIBC Student Bank account.
Our pick for global trading. We chose Interactive Brokers for this category because it offers extensive trading capabilities and access to advanced trading tools to help traders in their investing journey, as well as access to a large number of international stock exchanges.
Our pick for commodity stocks. We chose Scotia iTRADE for this category because it offers an easy-to-use, user-friendly UX and provides access to a variety of learning resources to help you get acquainted with trading and how the platform works.
Our pick for free trades. We chose Wealthsimple Trade for this category because it offers commission-free trading. With no account fee, the mobile app is clean and intuitive to use.

What we know about the Soulgate IPO

In June 2021, Soulgate Inc. (owner of a Chinese dating app, Soul, which masks users’ profile pictures and matches potential romantic partners based on common interests) announced it was cancelling its plans to go public.

Originally, Soulgate planned to go public on the Nasdaq Global Market under the ticker symbol “SSR.” You can read about the event in detail in an official document submitted to the US Securities and Exchange Commission on May 10, 2021.

The cancellation comes after Soulgate announced that it will be pursuing other financing opportunities, the exact nature of which have not been disclosed. The company is aiming to raise around $257 million and hopes to earn a market valuation of $1.7 billion.

The decision to hold off on going public in the US may also stem from hesitancy brought on by newly-introduced security regulations in China. These regulations have affected a number of China-based companies’ plans to go public including Ant Group (owned by Alibaba owner and billionaire, Jack Ma) and TikTok.

Buy stocks in similar companies

Even though you won’t be able to buy Soulgate stock, you can still invest in other companies that own and operate dating apps or similar social networking software.

Company	Stock info
Match Group, Inc. (owns Tinder, Match, Hinge, PlentyOfFish, OkCupid and other similar apps)	Nasdaq Global Select Market: MTCH
Bumble Inc.	Nasdaq Global Select Market: BMBL
Meta Platforms, Inc. (formerly Facebook)	Nasdaq Global Select Market: FB
Spark Networks SE (owns Zoosk, EliteSingles, Christian Mingle, Jdate, JSwipe and SilverSingles)	Nasdaq Capital Market: LOV
Hello Group Inc. (parent company of Momo, which owns leading Chinese dating app Tantan)	Nasdaq Global Select Market: MOMO

How to buy stocks in a company

You’ll need a brokerage account to buy and sell shares. Here’s how it works:

Compare share trading platforms. If you’re a beginner, look for a platform with low commissions, expert ratings and investment tools to track your portfolio. Narrow down top brands with our comparison table.
Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
Search for the company you want to invest in. Find the stock by name or ticker symbol (for example, BMBL). Research its history to confirm it’s a solid investment against your financial goals.
Purchase now or later. Buy immediately with a market order or use a limit order to delay your purchase until the stock reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimize risk through the market’s ups and downs. You may be able to buy fractional shares of companies, depending on your broker.
Check in on your investment. Congratulations, you own part of a company! Optimize your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.

Tax implications of buying US stocks in Canada

Agreements between Canada and the US require Canadians holding US stock investments to pay the US Internal Revenue Service (IRS) a 15% withholding tax on any dividends earned on their US stocks. Interest earned from bonds or other interest-yielding US investments are similarly taxed at a rate of 10%.

An exception is made for stock investments held in trust exclusively designed to provide retirement income. Such trusts include RRIFs, LIRAs, LIFs, LRIFs and Prescribed RRIFs. RRSPs are also exempt from US withholding tax if you own US investments in the form of US stocks, bonds or ETFs.

Investment accounts that do not qualify for this exemption include RESPs, TFSAs and RDSPs.

All income from investments, including foreign investments, must be declared as part of your income on your Canadian tax return. Unless your US earnings are exempt from withholding tax, this means you’ll be double taxed on those earnings — first by the IRS, then by the CRA. However, the CRA may allow you to claim foreign tax credits for any taxes you’ve already paid to the IRS.

Speak with a tax professional to find out what rules and exceptions apply to your circumstances.

Open a stock trading account

You can compare features of stock trading platforms in the table below. Once you’ve decided on the right fit for your needs, click the “Go to site” button to get started.

Note: The dollar amounts in this table are in Canadian dollars.

1 - 6 of 6

Name	Product	Finder Rating	Stock Trading Fee	Account Fee	Available Asset Types	Offer
OFFER CIBC Investor's Edge CIBC Investor's Edge	OFFER	Finder Rating: ★★★★★ 4 / 5	$4.95–$6.95	$0 if conditions met, otherwise $100 a year	Stocks, Bonds, Options, Mutual Funds, ETFs	Young investors 18 to 24 can get free online trades and a $0 annual account fee. Conditions apply.	Go to site View details	Compare	loading Fetching your data...
Interactive Brokers Interactive Brokers		Finder Rating: ★★★★★ 4.1 / 5	Min. $1.00, Max. 0.5%	$0	Stocks, Bonds, Options, ETFs, Currencies, Futures		Go to site View details	Compare	loading Fetching your data...
Scotia iTRADE Scotia iTRADE		Finder Rating: ★★★★★ 3.8 / 5	$4.99–$9.99	$0	Bonds, Options, Mutual Funds, ETFs, GICs, International Equities		Go to site View details	Compare	loading Fetching your data...
FREE TRADES Wealthsimple Trade Wealthsimple Trade	FREE TRADES	Finder Rating: ★★★★★ 3.9 / 5	$0	$0	Stocks, ETFs	Get $25 when you open a Wealthsimple Trade account and fund at least $150.	Go to site View details	Compare	loading Fetching your data...
Questrade Questrade		Finder Rating: ★★★★★ 4.2 / 5	$4.95 - $9.95	$0	Stocks, Bonds, Options, Mutual Funds, ETFs, GICs, International Equities, Precious Metals	Get $50 in free trades when you fund your account with a minimum of $1,000.	Go to site View details	Compare	loading Fetching your data...
OFFER Qtrade Direct Investing Qtrade Direct Investing	OFFER	Finder Rating: ★★★★★ 4.1 / 5	$6.95 - $8.75	$0 if conditions met, otherwise $25/quarter	Stocks, Bonds, Options, Mutual Funds, ETFs, GICs	Get almost $500 in commission free trades when you fund your new account with a minimum of $10,000. Conditions apply. Ends August 31, 2022.	Go to site View details	Compare	loading Fetching your data...

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Online stock trading

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.