How to Buy Amazon Stock in Canada

Amazon is traded on the NASDAQ stock exchange in the US.

As a Canadian investor, you can buy this stock on Canadian trading platforms. However, it is worth monitoring the USD/CAD exchange rate to determine the currency impact of your investment decisions.

Amazon cannot be purchased in Canadian dollars since it is traded on the NASDAQ, it can only be purchased in US dollars.

There are a few simple steps you can follow to add the American multinational technology company to your stock portfolio from the comfort of your own home!

1. Select a suitable trading platform

Before you can start investing in Amazon, you’ll need to choose a trading platform that meets your needs and preferences.

As a Canadian investor, you have a range of options to consider, including platforms offered by your bank (such as CIBC) and independent platforms (such as Wealthsimple).

It’s important to carefully research and compare the features and fees of different platforms to find the one that best suits your investment goals and style. Some factors to consider might include the range of investment products available, the user-friendliness of the platform, the fees associated with trades, and the level of customer support offered.

By taking the time to choose a platform that meets your needs, you’ll be better equipped to make informed investment decisions and manage your portfolio effectively.

  • Ability to purchase Amazon stock in Canada
  • Low commissions
  • Aims to get you the best possible price

2. Create an Account

Before you can begin trading with a particular platform, you’ll need to open an account with that platform.

This typically involves providing some personal information and verifying your identity.

To speed up the account opening process, it’s a good idea to have your proof of identification documents (such as a passport or driver’s license) ready to go.

Most platforms will require these documents as part of the account opening process to ensure that you are who you say you are.

In addition to verifying your identity, some platforms may also require you to provide financial information and set up funding methods for your account.

This could include linking a bank account or credit card, or setting up a digital wallet.

It’s important to carefully review the account opening requirements of your chosen platform to ensure that you have everything you need to get started. Once your account is set up, you’ll be ready to start trading.

3. Select the company you want to invest into

If you are planning to invest in Amazon, the first step will be to locate the stock on your brokerage platform.

Different platforms may have different user interfaces, so it’s important to become familiar with how to navigate to your chosen stock.

Once you’ve located the stock, you’ll need to enter the ticker symbol (NASDAQ:AMZN). You may also be able to search for the stock by its full name (, Inc) or partial name (Amazon).

It’s worth noting that different brokerage platforms may have different methods for finding and selecting stocks, so it’s a good idea to familiarize yourself with the specific process on your chosen platform.

4. Choose your order type and the number of shares you want to buy

After you have identified the stock you want to invest in, the next step is to specify the number of shares you wish to purchase.

At this point, you’ll also need to choose your order type. There are typically three options available: market order, limit order, and stop order.

A market order is one that is fulfilled at the current market price. A limit order is an order to buy a stock at or below a specified maximum price.

This type of order will only be executed if the market price meets or falls below the specified threshold.

A stop order is an order to buy a stock only once it reaches a predetermined price point.

This order will be filled at the next available price once the threshold is reached. It’s important to carefully consider which type of order is most appropriate for your investment goals and market conditions.

5. Execute the trade

To finalize your investment in Amazon, you’ll need to initiate the trade by selecting the “Buy” option on your brokerage platform.

This will match you with a seller who is willing to sell their shares at a mutually agreed upon price. Once the transaction is complete, your order is considered “filled,” and you’ll officially own a piece of Amazon‘s stock.

It’s important to note that the process of finding a willing seller and agreeing on a price can vary depending on market conditions and other factors. However, brokerage platforms have systems in place to facilitate the buying and selling process as smoothly as possible.

How Many Amazon Shares Should I Buy?

When considering how many Amazon shares to invest in, it’s essential to take into account your individual financial situation, portfolio size, investment approach, and risk appetite.

These factors will all play a role in determining the right number of shares for you.

Additionally, it may be helpful to think about your current portfolio holdings and whether you want to add Amazon stock, replace existing holdings with Amazon shares, or keep your portfolio as is.

If you prefer a more passive investing approach, you may want to consider purchasing ETFs or mutual funds that hold Amazon rather than buying the stock directly.

Another factor to consider is the potential for technology stocks to experience significant price swings, particularly in a rising interest rate environment.

If you expect rates to fall in the short to medium term, you may want to increase your exposure to Amazon.

However, if you have a more cautious outlook, you may want to reduce or eliminate your exposure to the company.

It’s also important to do your due diligence on Amazon by reviewing annual and quarterly reports, press releases, and other publicly available information.

This can help inform your decision on the number of shares to buy.

Amazon Company Overview

Founded by Jeff Bezos in 1994, Amazon is a multinational company in the technology sector headquartered out of Bellevue, Washington.

With over a million employees globally, Amazon’s activities include e-commerce, cloud computing services, digital advertising, streaming, and artificial intelligence (AI).

The company is divided into three reporting segments: (i) North America, (ii) International, and (iii) Amazon Web Services.

The North America segment comprises of retail sales from consumer products, subscriptions from online and physical stores, and export sales from online stores.

Similarly, the International segment is comprised of retail sales from consumer products, and subscriptions and export sales from its international online stores.

Lastly, the AWS segment consists of revenues from cloud services offered to B2B clients globally.

Amazon Stock Performance

Amazon Stock Chart


Wealthsimple Trade open on laptop

Frequently Asked Questions

  • Can I buy Amazon stock in Canada?
  • Can I buy Amazon stock on Wealthsimple?
  • Can I buy Amazon stock on Questrade?
  • Can I buy Amazon stock on Interactive Brokers Canada?
Harshil Dhanky

Harshil Dhanky is a financial services professional based out of Toronto, Ontario with extensive experience in the Canadian banking industry across Toronto, Calgary, and Vancouver in the capital markets, asset management, and lending sectors.

In the past, Harshil has worked with a range of consumer lending websites, personal finance advisors, investment managers, insurance companies, and other financial institutions to write and edit whitepapers, articles, blog posts, and other collateral read by consumer audiences to help them make better financial decisions.

His work spans a wide range of Canadian personal finance topics including savings and retirement programs, debt management tips, mortgages and personal loans, and other key financial issues for Canadian consumers at each stage of their life.