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How to buy Trump Media and Technology Group stock in Canada when it goes public

Here's everything we know so far about the Trump Media and Technology Group IPO.

Trump Media and Technology Group, owned by former US President Donald Trump, will be going public after merging with Digital World Acquisition Corp., a special purpose acquisitions company (SPAC).

Here's what we know about the deal so far and how to buy Trump Media and Technology Group stock in Canada when the company goes public.

What we know about the Trump Media and Technology Group IPO

Truth Social app logo

On Wednesday October 20, 2021, former US President Donald Trump announced that Trump Media and Technology Group (TMTG) will be going public by merging with Digital World Acquisition Corp., a special purpose acquisition company (SPAC). The date of the merger, stock symbol and proposed stock price have not yet been announced.

TMTG is looking at receiving $293 million currently held in trust by Digital World Acquisition. The deal would also give TMTG a market valuation of $1.7 Billion.

Trump plans to use TMTG to launch a subscription video-on-demand service and a social media platform called "TRUTH Social." According to the Apple App Store description, TRUTH Social is designed to encourage "an open, free, and honest global conversation without discriminating against political ideology."

Digital World Acquisition Corp. went public on September 7, 2021 on the Nasdaq Global Market under the ticker symbol "DWAC." The IPO grossed $287.5 million from the sale of 25 million stocks at a starting price of $10.00 each.

Following the merger announcement, Digital World Acquisition stock jumped by 357%. DWAC stock experienced 2-day gains of more than 800% following a Trump rally in October. Episodes like these have come to be known as the "Trump effect."

We'll update this page as more information becomes available.

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

Finder's top picks on where to buy Trump Media and Technology Group IPO

How to buy shares in Trump Media and Technology Group when it goes public

Once Trump Media and Technology Group 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 Trump Media and Technology Group. 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 Trump Media and Technology Group 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 Trump Media and Technology Group, depending on your broker.
  6. Check in on your investment. Congratulations, you own a part of Trump Media and Technology Group. 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.

Will I be able to buy Trump Media and Technology Group stocks from Canada?

You won't be able to buy Trump Media and Technology Group stocks on a Canadian stock exchange like the TSX or CSE. Instead, you'll need a Canadian broker that provides access to stocks sold on international exchanges. However, some Canadian brokerages don't offer access to international investments at all or only provide access to a limited range of investment opportunities.

You can access US exchanges like the NYSE and the NASDAQ using Canadian trading platforms like Questrade, Wealthsimple, Scotia iTRADE and Interactive Brokers. Interactive Brokers also provides access to many stock exchanges outside North America like the Hong Kong Stock Exchange (SEHK), Korea Stock Exchange (KSE), National Stock Exchange of India (NSE), Frankfurt Stock Exchange (FWB) and London Stock Exchange (LSE).

The process of buying stocks listed on international exchanges is basically 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 international stocks.

How to buy international stocks in Canada

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.

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Note: The dollar amounts in the table below are in Canadian dollars.

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Interactive Brokers
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Min. $1.00, Max. 0.5%
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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.
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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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