Best Canadian Broker to buy International Stocks?

[Jmac42600]

I'm a Canadian looking to buy International stocks (specifically on the LSE and TYO) in my TFSA. I'm currently with Questrade but they just said it's $195 to conduct a trade on an international exchange. I'm only looking to do small transactions ($1000-$2000) so its obviously not economical to me. Any Canadian brokers that have reasonable cost international trading? Thanks a lot!

[KCLarkin]

IBKR

 

Disclosure: long IBKR

Edit to add: see Crappy Canadian Brokerages thread for more details on the advantages/disadvantages of IBKR

Edited April 29, 2021 by KCLarkin

[Jmac42600]

4 minutes ago, KCLarkin said:

IBKR

 

Disclosure: long IBKR

 

What's the international trading fees? Is it in line with Canadian and US transactions?

[KCLarkin]

I've traded on LSE but not TYO, but the LSE trading fees were a rounding error. The "stamp duty" was much higher, IIRC.

I was doing much larger trades and I don't think the commission was more than a couple bucks. IIRC. Certainly less than $10.

[Jmac42600]

Sorry I noticed on Interactive Brokers you can't buy international stocks in a TFSA. Any brokers where you can with reasonable fees??

[longlake95]

welcome to Canada's financial system, roaring into the 1950's. I use CIBC Edge, they charge around $200 to buy on a foreign exchange.

[Jmac42600]

7 minutes ago, longlake95 said:

welcome to Canada's financial system, roaring into the 1950's. I use CIBC Edge, they charge around $200 to buy on a foreign exchange.

Yikes. 

[longlake95]

Just pray you find a foreign stock that has an ADR...lol

 

In fairness and full disclosure, you can use IKBR, but as previously noted they are limited as to which accounts you can hold foreign stocks.

 

So I guess we are roaring into the 1960's

Edited April 29, 2021 by longlake95

[Jmac42600]

2 minutes ago, longlake95 said:

Just pray you find a foreign stock that has an ADR...lol

 

In fairness and full disclosure, you can use IKBR, but as previously noted they are limited as to which accounts you can hold foreign stocks.

 

So I guess we are roaring into the 1960's

Yeah I saw that. TFSA rules allow you to buy foreign stocks, yet I can't buy them for a reasonable price at any Canadian broker... Doesn't really make sense to me.

[longlake95]

it's really quite sad, considering you can buy stocks with NO commissions if you live in the USA, with Schwab, TD Ameritrade, Fidelity, etc...

We are just so far behind.

[Jurgis]

1 hour ago, longlake95 said:

it's really quite sad, considering you can buy stocks with NO commissions if you live in the USA, with Schwab, TD Ameritrade, Fidelity, etc...

We are just so far behind.

You cannot buy stocks on foreign exchanges with no commissions in USA. At least not in Fidelity.

And you could not buy stocks on foreign exchanges in retirement accounts in Fidelity either. This may have changed - or not.

[longlake95]

ya, I didn't clarify, I just meant you can buy domestic stocks with little or no commission with several US firms.  Just highlighting how far behind we are in Canada - Snow Mexico.