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How to invest in the NYSE
It's easy to trade on the world's largest stock exchange. Here's how you can trade on the New York Stock Exchange.
Can I invest in the NYSE from Canada?
Yes, it’s relatively straightforward to invest in the New York Stock Exchange (NYSE) in Canada. These days, most trading platforms and brokers provide access to US stock markets, including the NYSE and NASDAQ. There are also stock trading apps and brokers that offer access to US stocks.
How to invest in the NYSE
- Choose a broker or trading platform. When choosing a platform, make sure it gives you access to the NYSE, or at least lets you trade the specific NYSE stocks you want to invest in. Different brokers also have different fee structures, and it’s important to find the one that will be most cost-effective for the way you’d like to invest.
- Open a share-trading account. Once you’ve selected a broker or platform, you’ll need to open a trading account before you can start investing in the NYSE.
- Deposit funds. In order to begin trading, you’ll need to deposit money into your account. Depending on which platform you use, your money may be automatically converted from CAD into US dollars, and you may need to pay a forex fee.
- Buy stocks on the NYSE . Once your account is funded, you’ll be able to buy and sell shares. Most brokers or platforms will let you search for the specific stocks on the NYSE you want to buy.
Compare trading platforms with access to the NYSE
How much does it cost to invest in the NYSE?
This will depend on the specific broker or trading platform you use, as each has its own fee structure. When comparing platforms, it’s important to understand the types of trading fees you’re going to be charged, as this can have a big influence on the cost of investing.
Some brokers charge high commissions on individual trades, so if you’re only planning on investing small amounts, it will be a lot more cost-effective to go with a broker that has commission-free trades. You can compare trading fees below:
Broker trading fees
These prices are current as of May 14, 2020.
Below is a breakdown of the basic fees you’ll pay when making a single NYSE trade using eachbroker:
- Questrade. 1 cent per stock (Between $4.95 and $9.95), ETFs are free to buy
- Qtrade. Between $6.95 and $8.75 for equities including ETFs (or you can pick from 100 free ETFs)
- TD Direct Investing. Between $7 and $9.99 for equities
- RBC Direct Investing. Between $6.95 to $9.95 for equities including ETFs
- Virtual Brokers. Between $1.99 and $7.99 to buy/sell equities and sell ETFs (you can buy ETFs for free)
A cheaper alternative may be to invest in an NYSE index fund, which tracks the performance of certain stocks without you having to buy the stocks directly. Exchange-traded funds in particular are a low cost way to get exposure to the stocks on the NYSE, with annual fees that are far below what traditional stock brokers usually charge.
Other ways to invest in the NYSE
If you want to invest in the NYSE without having to buy stocks directly, there are a couple of ways to do so. The most common method is to invest in an ETF or index fund, which tracks the performance of all or certain stocks on the NYSE. If the value of those stocks goes up, so does the value of your fund.
There are hundreds of index funds available for the NYSE, so there’s likely to be one that closely suits your investing goals. Many of the most famous stock market indices, such as the Dow Jones, NYSE Composite and S&P 500, also track stocks listed on the NYSE.
- Guggenheim S&P 500 Pure Growth ETF (NYSE Arca|RPG)
- iShares Core S&P Total US Stock Mkt (NYSE Arca|ITOT)
- iShares NYSE Composite Index Fund (NYSE Arca: NYC)
- iShares Russell 3000 Index (NYSE Arca|IWV)
- Schwab Fundamental US Broad Market Index ETF (NYSE Arca|FNDB)
- Schwab US Broad Market ETF (NYSE Arca|SCHB)
- Vanguard Total World Stock (NYSE Arca|VT)
- Vanguard Total Stock Market (NYSE Arca|VTI)
- Vanguard Total International Stock (NYSE Arca|VXUS)
- Vanguard Russell 3000 (NYSE Arca|VTHR)
Why should I invest in the NYSE?
The New York Stock Exchange is by far the world’s largest stock exchange, with a total market capitalization of over $20 trillion. It features over 2,800 stocks, including some of the most valuable companies in the world. If you’re looking to diversify your portfolio, the NYSE offers more access to stocks and securities than any other exchange in the world, including US stocks that you can’t buy on the London Stock Exchange.
With many brokers and trading platforms now offering easy access to US stock markets, investing in the NYSE can be a good way to broaden your portfolio and get exposure to successful stocks.
Is now a good time to invest in the NYSE?
Many stocks on the NYSE have suffered significant drops as a result of the coronavirus pandemic. Historically, stock market crashes have been a good time to buy shares, as markets generally recover over time. Many investors will see the current share prices of many of the stocks on the NYSE as a good entry point, and will invest accordingly.
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