How to Buy Triller Stock in Canada When It Goes Public | Finder Canada

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How to Buy Triller Stock in Canada When It Goes Public

Here's everything we know so far about the Triller IPO.

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Triller stock is not yet available to purchase on any exchange. But it’s expected to go public soon. Here’s what we know — and how to buy in when it launches.

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

Will I be able to buy Triller shares from Canada?

You won’t be able to buy Triller shares on a Canadian stock exchange like the TSX or CSE, but you can from a Canadian-based brokerage that offers international access to companies listed on stock exchanges outside of Canada. Given that Triller is headquartered in Los Angeles, California, you’ll need a brokerage that provides access to US exchanges such as the NASDAQ and NYSE (although it’s unclear where, exactly, Triller shares will become available).

Canadian online trading platforms that provide access to stocks listed in the US include Scotia iTRADE, Questrade, Wealthsimple and Interactive Brokers.

The process of buying stocks in a US company while living in Canada is the same as buying stocks in a Canadian company. You buy and sell using your online trading account or through an investment broker who handles US stocks.

How to invest in US stocks from Canada

What we know about Triller’s IPO

There is strong speculation that Triller has spent months planning its IPO. We’re unable to confirm the news, and Triller has not yet filed a viewable Form S-1 with the US Securities and Exchange Commission. As of December 2020, Triller is still pursuing multiple SPAC offers, which could streamline it to the public market. No news has been released on the company’s exact IPO date or how much its stock will cost.

SPACs, or special purpose acquisition companies, are publicly-traded firms that exist solely to acquire or merge with another company, so that it can go public and raise capital. Compared with a traditional IPO, the process of going public by merging with another publicly-traded company is quicker and involves less paperwork. SPACs have therefore risen in popularity over the last several years.

In December, Proxima Media Group (Triller’s parent company) hired music executive Tuhin Roy as its new president of business operations. Roy has played a role in helping companies like Pandora raise money ahead of an initial public offering, so his new role with Proxima has fueled rumours that Triller is positioning for an IPO.

How to buy shares in Triller when it goes public

Once Triller goes public, you’ll need a brokerage account to invest. Consider opening a brokerage account today so you’re ready as soon as the stock hits the market.

  1. 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.
  2. 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.
  3. Search for Triller. Find the stock by name or ticker symbol. Research its history to confirm it’s a solid investment against your financial goals.
  4. Purchase now or later. Buy immediately with a market order or use a limit order to delay your purchase until Triller reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
  5. 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 a fractional share of Triller, depending on your broker.
  6. Check in on your investment. Optimize your portfolio by tracking how your stock — and the business as a whole — performs in the long run. You may be eligible for dividends and shareholder voting rights on management decisions that affect the the company and the subsequent value of your stock.

What is Triller?

Created in 2015, Triller is a music video app that allows users to shoot editable, high-quality music videos over popular songs. Triller has recieved investments from major recording artists such as Snoop Dogg, Lil Wayne and The Weeknd. Big names like Cardi B and Alicia Keys have also used the app to shoot their own music videos. Triller even allowed fans to stream the hotly anticipated boxing match between former heavyweight champion Mike Tyson and Roy Jones Jr.

Triller is owned by Proxima Media, which was founded by Hollywood producer Ryan Kavanagh. The company is valued at $1.25 billion — 10X more than its estimated worth back in 2019. The app has more than 250 million downloads worldwide and has about 65 million active users. However, some former Triller employees claim that these numbers are inflated, which the company has denied.

Triller is a direct competitor of video app giant, TikTok, which has been downloaded more than 2 billion times despite being a year younger than Triller.

How are similar companies performing?

It’s impossible to predict exactly how any stock will perform — and IPOs can be particularly volatile. But evaluating the performance of companies similar to Triller may indicate how the market is performing and whether now is a good time to invest in this industry.

Compare trading platforms that provide access to Canadian and US stocks

To buy stock, you’ll need to open a brokerage account. Compare your options using the table below to find the best fit.

Note: the dollar amounts in this table are in CAD.

Name Product Available asset types Stock Fee Option Fee Account Fee ETF Transaction Cost Feature Table description
Wealthsimple Trade
Stocks, ETFs
$0
N/A
$0
Free
Zero commissions on Canadian stocks.
Get a $25 bonus when you open a Wealthsimple Trade account and deposit and trade at least $100.
Interactive Brokers
Stocks, Bonds, Options, ETFs, Currencies, Futures
Min. $1.00, Max. 0.5% of trade value
$1.50 min. per order
$0 (if monthly commissions are greater than or equal to US$10.00)
Min. $1.00, Max. 0.5% of trade value
Extensive trading capabilities and global investment tracking.
Access market data 24 hours a day, six days a week and invest in global stocks, options, futures, currencies, bonds and funds from one single account.
Qtrade Investor
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs
$6.95 - $8.75
$6.95 - $8.75 + $1.25 per contract
$0 if conditions met, else $25/quarter
$0 - $8.75
Trade 100 ETFs free of charge.
Qtrade Investor offers low trading commissions and an easy-to-use platform with access to powerful tools and a wide selection of investment options. Trade 100 ETFs free of charge and thousands more for $8.75 or lower.
Questrade
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs, International Equities, Precious Metals
$4.95-$9.95
$9.95 + $1 per contract
$0
Free
$0 account fee and free ETF transactions.
Opt for self-directed investing and save on fees or get a pre-built portfolio and take some of the guesswork out.
Scotia iTRADE
Options, Mutual Funds, ETFs, GICs, International Equities
$4.99-$9.99
$9.99 + $1.25 contract ($4.99 + $1.25 contract if completed 150 trades or more a quarter)
$0
$9.99 ($4.99 if completed 150 trades or more a quarter)
Pay no annual account fees.
Buy, sell and trade ETFs, Equities, Options and more with competitive commissions.
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Compare up to 4 providers

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.

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.

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