How to Buy TC Energy Stock in Canada [2024]

Summary: Investing in TC Energy stock (TSX: TRP) is a promising way to potentially grow your wealth over time, and it’s available for anyone as it’s a publicly-traded company. The most convenient way to go about it is through a reputable brokerage platform. Our brokerage of choice for buying TRP stock is Interactive Brokers.

About TC Energy

Formerly known as TransCanada Corporation, TC Energy is a leading energy infrastructure company based in Canada. The company operates a vast network of pipelines, power generation facilities, and other energy-related assets across North America.

TC Energy plays a crucial role in transporting energy resources such as natural gas, crude oil, and electricity to meet the energy needs of millions of people. With a strong track record and a commitment to sustainability, it’s a prominent player in the energy sector.

TC Energy IPO

TC Energy went public many years ago, allowing investors to buy shares in the company through an IPO. However, If you missed out on the initial offering, don’t worry. Investors can still buy TC Energy stock on the Toronto Stock Exchange (TSX) and the New York Stock Exchange (NYSE), where it’s listed under the TRP ticker symbol.

How to buy TC Energy stock in Canada: Step-by-step

In case you’re looking to buy TRP stock, you can follow our step-by-step guide and become a shareholder in TC Energy in mere moments. Here’s what to know:

Step 1: Choose a stock brokerage

To buy TC Energy stock in Canada, you’ll first need to open an account with a reputable stock brokerage. You can research different brokerages to find one that suits your needs. Nevertheless, don’t forget to find out whether your brokerage of choice offers access to the Toronto Stock Exchange (TSX), where TC Energy stock is listed under the TRP symbol.

To buy TRP stock in Canada safely, we recommend a fully-regulated investing platform, Interactive Brokers. Due to it being fully licensed and regulated by authorities like the Investment Industry Regulatory Organization of Canada (IIROC) and Canadian Investor Protection Fund (CIPF), it offers a secure way of trading stocks.

Furthermore, IBKR also provides:

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

Step 2: Open an account and deposit funds

Once you’ve selected a brokerage, you should follow their instructions to open an account. To do so, you’ll need to provide personal information and complete any necessary forms. Furthermore, when you set up an account and verify it, the next step is to deposit funds into it. This will be the money you’ll use to purchase TRP stock.

Step 3: Research TC Energy

It’s key not to rush things with an open account and funds in it. Instead, before buying any stock, you should thoroughly research the company. Make sure that you look into TC Energy’s financial performance, recent news, and corresponding industry trends. This will help you make an informed investment decision.

Step 4: Place an order

Once you’re satisfied with your research on the company, you can move on and place an order. So, log into your brokerage account and search for TC Energy stock using its stock symbol, which is TRP.

With the stock symbol located, you’ll need to choose the number of shares you want to buy and place an order. Namely, there are different types of orders, such as market orders and limit orders. So, make sure you understand the difference before placing your order.

Step 5: Monitor your investment

Finally, the last step is to monitor your investment. So, after purchasing TC Energy stock, be sure to keep an eye on its performance. You can do so by tracing the stock price through your brokerage account or some other financial news source.

Pros and cons of buying TC Energy stock

Before you invest in TC Energy stock, it’s important to weigh the pros and cons:

TRP stock price today

Common mistakes when buying stocks

While investing in stocks can be rewarding, there are some common mistakes to avoid:

• Emotional decisions: Don’t let emotions drive your investment decisions. Instead, make choices based on research and long-term goals rather than short-term market fluctuations;

• Overconcentration: Diversification is key to managing risk. You should, therefore, avoid putting all your funds into a single stock, like TC Energy. Also, make sure to spread your investments across different sectors and industries;

• Ignoring research: Failing to research a company before investing can lead to uninformed decisions. It’s necessary to understand the company’s financials, performance, and future prospects.

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 TC Energy stock in Canada

Can I buy TC Energy stock directly from the company?

No, you need to purchase TC Energy stock through a brokerage account, such as Interactive Brokers.

Do I need a lot of money to invest in TC Energy stock?

No, you can start with as little or as much as you’re comfortable investing. The thing is, some brokerages have no minimum deposit requirements.

How do I sell my TC Energy stock?

You can sell your TC Energy stock through your brokerage account. Just choose the number of shares you want to sell and place a sell order.

Are there any fees associated with buying TC Energy stock?

Yes, there may be brokerage fees and transaction costs. Therefore, be sure to review the fee structure of your chosen brokerage.