Buying american stocks...

[Konowl]

Ok, keep in mind I'm a complete and utter newbie at this...

Are the stocks you get from Wall Street the same ones you get in Toronto? I think not... so... how would I buy some from NYSE? Do I have to contact an american buying company?

[me!]

no, they are not the same stocks. Stocks you get from TO are listed on the tsx and stocks listed on wall st. are on the dow or nasdaq.

get an online brokerage account and trade to your heart's content.

[Cough]

Some stocks are traded on both exchanges (eg NT, PCA etc etc)

If you want to buy US stocks you can either do it on your Canadian trading account (but pay exchange every time) or open a US dollar trading account with your Canadaian provider (eg TD Waterhouse has both accounts)

[turanuk]

note that as a Canadian you will be charged "withholding tax" or like 15% or something on all capital gains by the US gov't. Normal int'l rate is about 30% I believe, they have some special deal with Canada. You won't be able to get that money back unless you're a US citizen and you file a tax return with them.

[15-20_God]

note that as a Canadian you will be charged "withholding tax" or like 15% or something on all capital gains by the US gov't. Normal int'l rate is about 30% I believe, they have some special deal with Canada. You won't be able to get that money back unless you're a US citizen and you file a tax return with them.

The 15% withholding tax is on dividends, not capital gains. Realized capital gains are reported on your yearly tax return.

30% is the standard rate for countries without tax treaties.

[9mmCensor]

stocks listed on wall st. are on the dow or nasdaq.

Wall Street is the New York Stock Exchange.

The DOW is an index, nasdaq is an electronic exchange.

[me!]

Wall Street is the New York Stock Exchange.

The DOW is an index, nasdaq is an electronic exchange.

yeah. okay, brainiac.

[turanuk]

The 15% withholding tax is on dividends, not capital gains. Realized capital gains are reported on your yearly tax return.

30% is the standard rate for countries without tax treaties.

oh yeah good point, sorry I messed up. I get taxed on my dividends, yeah.

[15-20_God]

Wall Street is the New York Stock Exchange.

The DOW is an index, nasdaq is an electronic exchange.

If we're getting technical then Wall Street isn't the NYSE. Wall St is just that, a street. The actual exchange address is on Wall St though.