Want to Buy Amazon or Google or any major US stock in Canada Without Converting to USD? Most Canadians Don’t Know This Trick
Imagine this. You finally decide to buy your first U.S. stock.
Maybe it’s Amazon.
Maybe Alphabet.
Maybe Meta Platforms.
You open your investing app, feel good about your decision… and then realize:
Wait. Why do I need to convert my Canadian dollars into USD first?
And suddenly investing gets annoying. Now you’re thinking about:
- exchange fees
- conversion charges
- USD/CAD rates
- whether the U.S. dollar will go up or down
You just wanted to buy Amazon and not become a currency expert. But here’s something many Canadians don’t know.
There’s a Simpler Way to Buy U.S. Stocks in Canada
You can actually buy many major U.S. stocks directly in Canadian dollars.
No USD conversion.
No currency exchange fees.
No extra mental gymnastics.
They’re called CDRs (Canadian Depositary Receipts). And honestly, more Canadians should be aware of them.
So What Exactly Is a CDR?
Think of a CDR as a Canadian version of a U.S. stock.
Instead of buying Amazon in USD on a U.S. exchange, you buy Amazon’s CDR version on the Toronto Stock Exchange in CAD. The same company exposure with much less friction. Most of the popular U.S. stocks are available as CDRs such as Amazon, Google, Meta, Apple, Microsoft, Tesla, Nvidia, Micron and many more. So when you seach for a stock in your brokerage application, you will see 2 options – stock in NYSE in USD and stock as CDR in TSX.
So yes, you can get exposure to many of your favorite U.S. companies without ever touching USD.
Pretty useful, right?
Why CDRs may be a good option for Canadians
1. No Currency Conversion Fees
This is the obvious one. Normally, if you buy U.S. stocks directly:
- CAD gets converted to USD
- You pay exchange fees or hidden spreads
This can quietly eat into returns over time.
With CDRs:
✅ Buy directly in CAD
✅ Avoid conversion hassle
Simple.
2. They Are Currency Hedged
This is where things get interesting.
CDRs are generally CAD hedged. You don’t have to constantly worry about USD/CAD fluctuations. Your returns mainly depend on the the stock performance.
Let’s Use Amazon as an Example
Suppose you invest $1,000 CAD in Amazon. Amazon rises by 20% over the next year.
Great.
But what happens next depends on how you bought it.
Scenario Comparison
| Situation | Bought Amazon in USD | Bought Amazon as CDR |
| Amazon +20%, USD gets stronger by 10% | Bigger gains (stock + currency gain) | Mostly stock gain only |
| Amazon +20%, USD gets weaker by 10% | Currency reduces your gains | Protected from weaker USD |
| Amazon falls, USD rises | Currency may soften loss | Mostly stock performance only |
So What’s the Catch?
Nothing in investing comes free. CDRs have one tradeoff.
If USD Gets Stronger…
Let’s say:
- Amazon rises 20%
- USD also rises against CAD
If you bought Amazon directly in USD:
- Stock gains
- Currency gains
But if you bought CDRs? You mainly benefit from stock growth only.
So yes, if you strongly believe the U.S. dollar will keep strengthening long term, buying directly in USD may be better.
Who Should Consider CDRs?
CDRs may be a good fit if:
✅ You invest from Canada
✅ You mainly hold CAD
✅ You invest smaller amounts regularly
✅ You want exposure to U.S. stocks without FX hassle
Who May Prefer Direct USD Stocks?
Buying directly in USD may make more sense if:
✅ You already have USD
✅ You use Norbert’s Gambit
✅ You want currency upside too
Curious Clan Thought
Sometimes the biggest barrier in investing isn’t lack of money. It’s friction.Too many steps. Too much complexity. Too much hesitation.
CDRs remove one unnecessary obstacle. And sometimes, that’s all an investor needs.Not a perfect strategy. Just an easier start.
So next time you want to buy Amazon or Google from Canada, ask yourself:
Do I really need USD… or do I just need exposure? and if you are just looking for exposure, then you can buy CDRs easily on the Wealthsimple application.
CuriousClan