If you’ve been looking to add US stocks to your portfolio in the past, you’ve often had to follow steps to turn your Canadian dollars into US dollars. The end result is potentially expensive currency conversions costs, or commission costs when performing a currency trick like Norbert’s Gambit.
There’s also some frustration among beginner investors here in Canada that are just learning how to buy stocks, particularly those with smaller portfolios, as they want exposure to companies like Tesla, Costco, Amazon, or Google but cannot afford the high share costs.
However, with the introduction of Canadian Depository Receipts, or CDRs, Canadians can not only buy US listed stocks in their home currency, with zero up front conversion fees, but they can also buy them on a fractional basis, allowing you to own Amazon without having to put up over $3000 USD.
Speaking of currencies, are you interested in Canadian companies related to the crypto…
