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Scottrade is a brokerage firm that tries to attract these investors by providing a user-friendly online platform to trade in Canada. You must have a Scottrade account, which you can open online. Bear in mind that you have to deal with tax issues and currency risks when trading foreign securities. Some Canadian stocks trade on United States exchanges as American Depository Receipts.

Can you trade Canadian stocks on Scottrade? | Yahoo Answers

ADRs are receipts for one or more shares of a foreign stock issued by a bank that holds the actual shares. Other Canadian stocks are available as "ordinary shares," abbreviated ORD.

International Investing | Scottrade, Inc

Trading Canadian ADRs and ORDs on Scottrade is like trading domestic stocks. On your online Scottrade account, enter the stock can you buy canadian stocks on scottrade, number of shares, order type and can you buy canadian stocks on scottrade time frame for buying or selling shares.

When a Canadian security is not available as an ADR or ORD, contact your local Scottrade broker for assistance. Income Tax Convention, brokers must withhold Canadian income tax on dividends and stock profits.

You can recover who buys penny stocks amount withheld by claiming the Foreign Tax Credit on your tax return. Trading Canadian securities also incurs currency exchange risk.

If the currency exchange rate is unfavorable, it can reduce profits or result in a loss. Home Investing General How to Trade in Canada With Scottrade. How to Trade in Canada With Scottrade.

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