Shall I buy 25k CHF worth Shopify stock on NYSE(New York Stock Exchange) or TSE(Toronto Stock Exchange)?

Investing / Brokers
1

As I only started investing/trading in stocks since few months, wish to have your opinion: I have account with IBKR

Shopify is a Canadian company, I can see its trading volume today is 2.88 M in NYSE, while only several hundred K in TSE. but I guess even this liquidity is good enough and not an issue? BTW I have the live price in NYSE but haven’t bought Market Data for TSE so the price I see is delayed for 15 minutes

Till now, all the stocks and cash I own are in USD, Euro and CHF.

I may receive some CAD soon.but already have a few thousands CAD available.

Thanks

2

What I would do :

  • check fees on both exchanges for your order magnitude (that might be different with IBKR)
  • check the spread

and then take the cheapest.

I guess you won’t buy a quantity which will change the price, so shouldn’t be a bummer, except if fees on the TSE are radically different than NYSE.

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3

Looking at IBKR‘s pricing, the difference in fees will most probably amount to less than a chocolate bar or a cup of coffee to go (or, IBKR‘s minimum FX commission).

As for the stock’s trade price, you‘re going to set a limit anyways, aren‘t you?

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4

Thanks a lot for the link, do you know by default with IBKR pro we have Tiered or Fixed commission? I have never been asked to choose.

yes, normally I use limit orders.

Thanks a lot for your advice, it seems you mean it doesn’t really matter in my case if I buy on NYSE or TSE?

For the spread, it’s difficult for me to see it, because I haven’t paid market data for TSE, so I think I will never see both price at the exact same moment, but I can assume in general the prices should be the same? otherwise some traders would do arbitrage and will lead the prices to converge

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5

Default would be fixed, you can change it in the account settings.

Yes, especially for longterm hold & buy, I would not think about, as long as volume/liquidity is high enough

In theory yes, but with low liquidity it could be that not. Since shopify is a well known brand, should be no problem.

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