Skip to content

How to Buy Manulife Financial Stock in Canada [2024]

How to Buy Manulife Financial Stock in Canada
Bogdan Stojkov

Summary: Buying Manulife Financial (TSX: MFC) stock is possible for all investors, as it’s a publicly-traded company. One of the simplest and most convenient ways to invest in Manulife is through regulated online brokers. Our go-to brokerage for buying MFC stock is Interactive Brokers.

Best Platform for Worldwide Stock Trading & Investing

  • Highly trusted multi-asset broker with clients in over 200 countries

  • Trade on 150 markets globally from a single platform (stocks, ETFs, futures, currencies, crypto & more)

  • Low commissions starting at $0 with no platform fees or account minimums

  • Easily fund your account and trade assets in 26 currencies

  • IBKR pays up to 4.58% interest on cash balances of $10k or more

Up to 4.58% interest on balance*

About Manulife Financial

Manulife Financial is a leading Canadian financial services company that offers a wide range of insurance, investment, and wealth management products to individuals and businesses. Founded in 1887, Manulife has a long history of providing financial solutions and has established itself as a reliable and reputable player in the industry. The company operates not only in Canada but also globally, serving millions of customers worldwide.

Manulife Financial homepage. Source: www.manulife.ca

Manulife Financial IPO

Manulife Financial went public in 1999, making its shares accessible to individual investors. This marked an opportunity for the investing public to own a part of the company and potentially benefit from its growth.

How to buy Manulife Financial stock in Canada: Step-by-step

If you’re looking to start investing in Manulife Financial, you can follow our simple step-by-step guide below and become a shareholder in no time.

Step 1: Educate yourself and open a brokerage account.

With thorough knowledge of the stock market, you can start your investing journey by opening a brokerage account. These accounts are platforms that allow you to buy, sell, and manage all your investments, stock included.

Currently, there are numerous brokerage options available in Canada. Yet, with so many of them to choose from, it might get confusing for novice investors to pick the right one. You should, therefore, analyze them all and check which ones suit your investment profile best.

That said, our go-to brokerage for buying MFC stock in Canada is Interactive Brokers. With licenses from the Investment Industry Regulatory Organization of Canada (IIROC) and Canadian Investor Protection Fund (CIPF), it provides a myriad of great features:

  • Low commissions and financing rates to maximize returns;
  • Global access to stocks, futures, bonds, and funds;
  • Trading efficiency with advanced technology;
  • Secure trading experience.

Best Platform for Worldwide Stock Trading & Investing

  • Highly trusted multi-asset broker with clients in over 200 countries

  • Trade on 150 markets globally from a single platform (stocks, ETFs, futures, currencies, crypto & more)

  • Low commissions starting at $0 with no platform fees or account minimums

  • Easily fund your account and trade assets in 26 currencies

  • IBKR pays up to 4.58% interest on cash balances of $10k or more

Up to 4.58% interest on balance*

Step 2: Fund your account

With an open brokerage account, the next step is to fund it. This involves transferring money from your bank account to your brokerage account. The good news is that most brokerages offer various funding methods, including bank transfers and electronic funds transfers (EFTs). So, just follow your brokerage’s instructions and that’s it.

Step 3: Search for MFC stock

After funding your account, you should use your chosen brokerage’s search function to find Manulife Financial’s stock. The stock is traded under the ticker symbol MFC on the Toronto Stock Exchange (TSX) and the New York Stock Exchange (NYSE). So, just type in the three letters and you’ll find the stock ready for purchasing.

Step 4: Place an order

With the stock found, you can now place an order to buy shares. It’s key to note that there are two main types of orders: market orders and limit orders.

  • A market order buys the stock at the current market price;
  • A limit order specifies the maximum price you’re willing to pay.

Step 5: Monitor your investment

Owning Manulife Financial stock isn’t the end of the road. In fact, responsible and smart investing calls for one more step. This is monitoring your investment. To do so, you should keep an eye on your investment by logging into your brokerage account regularly. On it, you can track the stock’s performance, reviews news and updates about the company, and further make informed decisions based on arising market trends. 

Pros and cons of buying MFC stock

Pros

Pros

  • Potential for growth: Manulife Financial has a strong presence in the insurance and financial services sectors, which could lead to potential growth opportunities;
  • Dividend income: The company has a history of paying dividends to shareholders, providing a potential source of passive income;
  • Diversification: Investing in Manulife Financial can add diversification to your investment portfolio, spreading risk across different industries.
Cons

Cons

  • Market fluctuations: Like all stocks, the value of Manulife Financial shares can be subject to market volatility, which could lead to potential losses;
  • Economic factors: The company’s performance can be influenced by economic conditions, interest rates, and regulatory changes, which may impact its stock price;
  • Dividend changes: While Manulife Financial has a history of paying dividends, there’s no guarantee that dividends will continue or remain at the same level.

MFC stock price today

Mistakes to avoid when buying stocks

One of the most common investing mistakes novice investors make is emotional investing. By this, we mean making decisions based on emotions that can lead to poor investment choices. To avoid that, you should stick to your strategy and not submit to making impulsive decisions. Furthermore, be wary of:

  • Overconcentration: Placing too much of your investment portfolio in a single stock, like MFC, can expose you to higher risks. You should, instead, diversify your investments across different companies and industries to mitigate risk;
  • Ignoring research: Failing to research the company and its financials before investing can lead to uninformed decisions. Therefore, always conduct thorough research before buying any stock;
  • Short-term thinking: Investing in stocks should be viewed as a long-term endeavor. So, avoid trying to time the market or chasing short-term gains, as it can be risky and counterproductive.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

FAQs about how to buy Manulife Financial stock in Canada

Can I buy Manulife Financial stock directly from the company?

No, you’ll need to use a brokerage account like Interactive Brokers to buy Manulife Financial stock.

Are there any fees associated with buying stocks?

Yes, there are typically brokerage fees and potentially other charges, such as trading commissions. Therefore, make sure to review your chosen brokerage’s fee structure.

Can I sell my Manulife Financial shares at any time?

Yes, you can sell your shares at any time the stock market is open. But keep in mind that selling may be subject to brokerage fees and market conditions.

Best Platform for Worldwide Stock Trading & Investing

  • Highly trusted multi-asset broker with clients in over 200 countries

  • Trade on 150 markets globally from a single platform (stocks, ETFs, futures, currencies, crypto & more)

  • Low commissions starting at $0 with no platform fees or account minimums

  • Easily fund your account and trade assets in 26 currencies

  • IBKR pays up to 4.58% interest on cash balances of $10k or more

Up to 4.58% interest on balance*

Weekly Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related guides

Contents