Promoted
National Bank Direct Brokerage
- Commission-free trading
- Several account types available
- Access to array of research tools
US-based messaging service, WhatsApp, has around 1.5 billion users and is often used as an alternative to regular texting and group chats. The app has become a must-have to keep in touch with friends and family all over the world.
WhatsApp is owned by Facebook, so if you want to invest you’ll need to buy shares in its parent company. Investors in Canada can buy Facebook stock by opening an account with a Canadian brokerage that offers access to US stocks.
Can I buy WhatsApp stock in Canada?
WhatsApp is not a publicly traded company, so you can’t buy WhatsApp stock directly. But you can buy stock in Facebook (now Meta), the company that owns WhatsApp. Meta is listed on the Nasdaq Global Select Market (Nasdaq GS) under the ticker symbol “FB.”
Facebook has a market cap is $887.163 billion, and it employs nearly 60,000 people. In 2012, Facebook, Inc. went public on the NASDAQ with a share price of $38. The stock saw an all-time high of $313.09 in April, 2021.
Promoted
Finder Award
Interactive Brokers
- Access to international stock exchanges
- Low margin rates
- Powerful research tools
How to invest in WhatsApp by buying Facebook stock
To buy Facebook stock, you’ll need a brokerage account. Here’s how it works:
- Compare stock 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 popular Canadian trading platforms 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 Facebook. Find the stock by name or ticker symbol: FB. 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 Facebook 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. 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 Facebook, depending on your broker.
- Check in on your investment. Congratulations, you own a part of Facebook. 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.
What’s going on with WhatsApp stock?
Elon Musk, founder of Tesla tweeted on January 7 2021 two words: ‘Use Signal’ referring to rival the messaging app. It came after WhatsApp threatened to disable any accounts that don’t accept its new Privacy Policy and Terms of Service that makes data-sharing with Facebook mandatory for all of its users by February 8 2021. As a result, Facebook’s stock price started to fall.
Is it a good time to invest in Facebook?
Facebook’s stock price dropped during 2020, which may attract investors who think the company has a bright long-term future. While Facebook’s revenue may decrease as a result of the pandemic, it remains the most popular social media platform in the world, with over 2.4 billion users.
Get info on Facebook stock and financials
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.
Access Canadian and US stocks with these online stock trading platforms
1 - 5 of 5
Online stock trading
Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, 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 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.
More on investing
How do ETFs work?
Your guide to how ETFs work and whether this type of investment is right for you.
Read more…
Best stock app for beginners for 2023
The best stock trading app for beginners is easy to use and offers free trades.
Read more…
How to read stock charts
Learning how to read stock charts and recognize chart patterns can unlock your success as a trader.
Read more…
3 upcoming IPOs to watch in May 2023
Several medical research and health care companies — including a J&J spinoff — are expected to go public this month.
Read more…
What are stocks?
Owning a stock means you own part of a company and can potentially grow your wealth. But there is a risk of loss.
Read more…
Best time to buy stocks
The best time to buy stocks could be right after an IPO, during expansion periods or when other investors are buying or selling.
Read more…More guides on Finder
-
Guide to finding the best prepaid card in Canada in May 2023
We show you the best prepaid credit cards in Canada, whether you’re looking for a prepaid card with no fees, cash back rewards, or travel perks, or more.
-
How to buy Sui (SUI) in Canada
This guide provides step-by-step instructions on how to buy Sui, lists some exchanges where you can get it and provides daily price data on (SUI).
-
5 apps like Nyble in Canada
Compare apps like Nyble in Canada to access emergency funding.
-
RightRide review
Your guide to buying and financing a car in Canada with RightRide.
-
Compare bad credit car loans in BC
Your guide to bad credit car loans in BC and how to find the right financing for your needs.
-
Camera financing in Canada
Compare six ways to finance a camera in Canada, including options for good and bad credit.
-
How to buy Pepe (PEPE) in Canada
This guide provides step-by-step instructions on how to buy Pepe, lists some exchanges where you can get it and provides daily price data on (PEPE).
-
Personal loans in Saskatchewan up to $50,000
Compare lenders to find the best personal loan in Saskatchewan for your needs.
-
Compare bad credit loans in Winnipeg
Compare interest rates and eligibility requirements of bad credit loans in Winnipeg.
-
Money Management for Teens: 7 Tips from Financial Experts
Teaching teenagers how to budget can be a tricky task. 7 experts give their best tips on how to budget for teenagers.