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How to Buy TELUS Stock in Canada [2024]

How to Buy TELUS Stock in Canada
Bogdan Stojkov

Summary: Investing in TELUS (TSX: T), a publicly-traded telecommunications company from Canada, can be a promising way to grow your wealth over time. To buy its stock, you should open a brokerage account on a reputable platform. Our pick for buying T stock in Canada 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 TELUS

TELUS is a well-established Canadian telecommunications company that provides a wide range of services. These include wireless and wireline voice and data services, internet access, and television services. The company is known for its strong commitment to customer service and innovation, making it a prominent player in the Canadian telecommunications industry.

TELUS homepage. Source: telus.com

TELUS IPO

TELUS completed its IPO in 1990, making its shares available for investors to buy and sell on the Toronto Stock Exchange (TSX) and the New York Stock Exchange (NYSE). Therefore, you can find its stock under the ticker symbol T.

How to buy TELUS stock in Canada: Step-by-step

Since TELUS is a publicly-traded company, anyone can invest in it through a regulated online broker platform. So, if you wish to do so, you can follow our simple step-by-step guide and become a shareholder in no time.

Step 1: Choose a stock brokerage

The first step in investing in TELUS stock is to open an account with a stock brokerage that offers access to Canadian and international stock markets. However, this might be tricky for novice investors due to the sheer number of brokerages available.

To choose the brokerage that fits your needs, you should consider:

  • How user-friendly the platform is;
  • Whether it offers the desired stock;
  • Does it offer competitive fees;
  • How good the customer support is;
  • What security measures if provides;
  • Who licenses and regulates the platform.

That said, our brokerage for buying T stocks in Canada is Interactive Brokers. Firstly, it’s licensed by authorities such as the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF). Furthermore, it offers:

  • 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

After opening your brokerage account, you’ll need to deposit funds into it. Most brokerages offer various funding options, such as bank transfers or electronic funds transfers (EFT). So, once your account is funded, you’ll be ready to move on to the next step.

Step 3: Research TELUS stock

Before making any investment, it’s pivotal to research the company thoroughly. You should, therefore, look into TELUS’s financial performance, recent news, and industry trends. This information will help you make an informed decision about whether TELUS is a suitable investment for your portfolio.

Step 4: Place an order

Using your brokerage’s trading platform, search for TELUS stock using its ticker symbol T. With it located, choose the number of shares you want to purchase and select the type of order you wish to place.

Common order types include:

  • Market orders: Buying at the current market price;
  • Limit orders: Buying at a specific price or better.

Step 5: Monitor your investment

Finally, after purchasing TELUS stock, it’s essential to keep an eye on your investment. By this, we mean that you should track the stock’s performance and stay informed about company updates. Furthermore, you should also consider setting up alerts to receive notifications about significant price changes.

Pros and cons of buying TELUS stock

Pros

Pros

  • Established company: TELUS is a well-established player in the telecommunications industry with a solid track record;
  • Dividend income: TELUS has a history of paying dividends to its shareholders, providing a potential source of passive income;
  • Industry growth: The telecommunications sector continues to evolve, offering opportunities for growth and innovation;
  • Canadian economy: Investing in TELUS supports the Canadian economy and its technological advancement.
Cons

Cons

  • Market volatility: Like all stocks, TELUS’s stock price can be subject to market fluctuations, which may result in temporary losses;
  • Industry competition: The telecommunications industry is competitive, and TELUS faces challenges from other players and technological shifts;
  • Dividend changes: Dividend payouts can change over time, and there’s no guarantee that dividends will be consistent or increase;
  • Economic factors: TELUS’s performance may be influenced by economic conditions both in Canada and globally.

TELUS stock price today

Common mistakes to avoid when buying stocks

Buying stocks carries inherent risks, as does any form of investing. It’s, therefore, necessary to be aware of common investing mistakes that other novice investors are making time and again. As such, you should avoid the following:

  • Emotional decisions: Avoid making impulsive decisions based on emotions or short-term market trends;
  • Lack of research: Failing to research a company thoroughly before investing can lead to uninformed decisions;
  • Overconcentration: Diversify your portfolio to reduce risk. So, avoid investing too heavily in a single stock, like TELUS;
  • Timing the market: Trying to predict the perfect time to buy or sell stocks is difficult and can lead to missed opportunities.

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 TELUS stock in Canada

Can I buy TELUS stock directly from the company?

No, you’ll need to use a brokerage account like Interactive Brokers to buy TELUS stock on the stock exchange.

Are there any fees associated with buying TELUS stock?

Yes, there may be brokerage fees, trading commissions, and potential currency exchange fees. You should, therefore, carefully review your desired brokerage platform to inform yourself about all the additional fees that might come into place while buying TELUS stock.

Can I buy TELUS stock if I'm not a Canadian citizen?

Yes, many international investors can buy Canadian stocks, including TELUS, through a brokerage that offers international trading, such as Interactive Brokers.

How often does TELUS pay dividends?

TELUS typically pays dividends on a quarterly basis, but dividend payments can vary.

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*

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