Trading at DEGIRO is one of the most popular stockbrokers in Europe and they offer access to a wide range of exchanges around the world that you can trade on. Trading with DEGIRO on Toronto Stock Exchange is also possible.
If you take a look at our DEGIRO review you will find a great amount of detail on every aspect of the broker while here we will drill down on everything you need to know about trading the Toronto Stock Exchange with DEGIRO.
Let’s take a closer look.
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DEGIRO Toronto Stock Exchange: how to invest
Among the more than 50 exchanges you can trade with using DEGIRO in 30 different countries, the Toronto Stock Exchange (TSX) and Toronto Ventures Exchange (TSXV) are both available for those interested in trading Canadian-listed shares. These can be traded during the exchange opening hours which are 14:30-21.30 GMT, Monday to Friday.
Here is a closer look at the steps you need to follow if you want to get started.
Step 1 – Sign up for a share trading platform
The very first thing is to get signed up with a stockbroker who offers trading in the Toronto Stock Exchange through their platform. This is exactly what you will find with DEGIRO and very low trading fees on Canadian stocks.
You can easily and quickly register a DEGIRO account by visiting its website(Investing involves risk of loss) and clicking on the “open an account” button as a first step. (Investing involves risk of loss).
For more information and help on getting started with DEGIRO, you can check out our DEGIRO Account Types guide with all the useful information you need.
Step 2 – Deposit funds into your trading account
Once you have set up your DEGIRO trading account, the next step will be to deposit some funds. You don’t have to worry about any minimum deposit amount with the broker so you can start with as much as you like.
DEGIRO deposits can be made using bank wire, Trustly, Sofort, or other local payment methods depending on your exact location but credit and debit cards are not supported. The broker can also only accept payments from within Europe but they do make a great range of base currencies available.
Step 3 – Do some research into what you want to invest in
Absolutely you will want to do some research about what assets you would like to invest in. This makes sure you choose the best stocks or other assets that fit your needs well.
The DEGIRO platform provides access to a lot more information that can help you understand a stock and company, or you can use an outside site that specializes in this kind of thing, like Morningstar or Finviz for example. Anyway, you will likely want to know more about the company, their financials, and other things like their dividend if they pay one.
Step 4 – Search for your chosen stock’s details
If you have decided to use Finviz as below then you can easily search for and find stock information based on the company ticker. Once you have opened the platform just click on the “Screener” tab then select Canada on the country filter along with any other filters you wish.
This will narrow down your search and give you the information you need that you can then use in the DEGIRO platform when you are ready and done researching.
Step 5 – Place your order with DEGIRO
With your stock found and the ticker code in hand, you can easily search for it and place your order within the DEGIRO platform. When you search the stock and click the name you will see a chart and more information displayed. Here you can choose the red button to sell, or the green to buy.
After you have selected buy you will be presented with another menu to select your maximum buy price, quantity, and order type. You can also choose when the trade will close if it fails to execute at your selected price.
With all of this done, simply hit the “Place Order” button to bring up a confirmation page where you can double-check everything before putting the order in.
DEGIRO Toronto Stock Exchange: how orders are executed
On the TSE DEGIRO uses a Smart Order Router (SOR). What this means is that your order could be sent to multiple places on the primary exchange, or another trading location to be executed. More specifically, it is Morgan Stanley, a prime broker for DEGIRO that routes your orders.
They make use of synthetic good-till-cancel orders (GTC) which means the order is sent every day as a day order until the order is either canceled or executed. The fee for trading on the TSE is € 2.00 + CAD 0,01 per share.
About Canadian Stock Exchange
In Canada the Canadian Stock Exchange is made up of 6 different entities in operation within the country. Two of these, the Toronto Stock Exchange (TSX) and the Toronto Ventures Exchange are offered by DEGIRO.
Canadian Stock Exchange (CSE) conducts a continuous auction market for the issues it lists, in addition to issues listed on other Canadian stock exchanges. The CSE is known for its low-latency and high-performance trading system that ranks orders in a number of categories, by price, broker, and time.
The CSE also has other helpful services that are available like routing services, and risk management services they can offer brokers in order to help meet client, and regulatory needs.
DEGIRO Toronto Stock Exchange: ways to invest
The Toronto Stock Exchange is in fact the 8th largest in the world by market capitalization. It lists more than 1,500 stocks in total and you will find many focused on sectors like mining, and energy which is reflective of the Canadian economy.
As well as buying shares you can also invest in an index that tracks the Toronto Stock Exchange. Such as the S&P/TSX Composite Index. It is not the case typically with DEGIRO, but if your broker does not allow you to trade Canadian stocks directly, there are many which are dual-listed in the US and can be traded on these exchanges.
DEGIRO Toronto Stock Exchange FAQ
How do I buy stocks on the Toronto Stock Exchange?
You have to first find a platform that allows Canadian stocks trading like at DEGIRO where you are sure to find them along with many other stocks. Then, register an account with DEGIRO and you are ready to start buying all the shares made available.
Can you trade penny stocks on Degiro?
Yes, you can find penny stocks on DEGIRO. This will depend on the exchange offered by DEGIRO, though as you will only find penny stocks that are publicly listed. If you want more info, please visit our DEGIRO Penny Stocks guide.
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