How to buy Carnival (CCL) stock from Canada

By   |   Verified by Andrew Boyd   |   Updated 12 Oct 2023

Carnival Corporation (NYSE: CCL) is a leading cruise liner company. CCL took a massive hit to its business with the onset of the pandemic in 2020. However, with travel expected to resume growth, we can expect the stock to recover, offering excellent buying opportunities for traders.

If you want to buy Carnival stock from Canada, this brief guide has everything you need to know.

About the company

Carnival overview

Founded in 1993 by Micky and Ted Arison, The Carnival Corporation is the world's largest cruise liner company, operating out of its headquarters in Miami, FL. Carnival operates cruises under its own name as well as Princess, Cunard, and Holland America.

Unsure about what trading platform to use?

Where to buy Carnival stock

CIBC Investor's Edge

On website

CIBC Investor's Edge

Highlights

  • Pay a flat fee of only $6.95 per online equity trade, with no minimums.
  • Invest in stocks, ETFs, options, mutual funds, GICs, fixed income, and precious metals.
  • Trade confidently with industry-leading research at your fingertips.
  • Regulated by IIROC.
Qtrade Direct Investing™

On website

Apply by November 30, 2024

Qtrade Direct Investing™

Highlights

  • Low trading commissions, easy-to-use platforms, and a wide selection of investment options.
  • Get transparent and competitive pricing.
  • Take advantage of the new Qtrade mobile app, now with options trading, portfolio allocation, push notifications, plus more with its improved interface.
  • Exceptional client service.
Questrade

On website

Highlights

  • Low commissions.
  • Fewer fees and transparent pricing.
  • Regulated by IIROC AND CIPF.

Compare the best brokers with Finty. Research fees, commissions, tradable assets, markets, etc.

First time buying?

How to buy Carnival stock

Step 1: Open a trading account

If you want to start trading CCL, you'll need to sign up with a broker. Brokers’ offers vary, and it pays to shop around for the best deal for new traders. Your broker should offer you the following.

Commission-free trading

Look for brokers offering no commissions on any of your trades. After the rise of Robinhood's trading app, most of the big brokers adopted the zero-commission model to remain competitive.

Fractional stock trading

If you start a small account with $300, fractional stocks give you exposure to the price action in Carnival stock without taking a massive risk with your account. You can buy a 1/10th of a stock and gain exposure to price action to make a profit.

Low account fees

Brokers compete with each other for your business. Therefore, shop around for the best available fee schedule. Compare transaction fees, commission structures, inactivity fees, and account fees.

Margin trading

Your broker should offer you an option to take a cash or margin account. With a cash account, you can only trade your account balance. However, a margin account lets you "leverage" your account. For example, if you have $300 in a margin account at 6:1 a margin ratio, you can buy up to $1,800 worth of stock.

However, margin trading is risky and best avoided until you have more experience trading.

Real-time data and charts

Most brokers provide charts, but you won't get live quotes, only delayed prices. You'll need to buy real-time market data for live pricing.

Step 2: Add funds to your trading account

To fund your trading account, you'll need to wire money to your broker or make a deposit using a debit card. Depending on how you transfer funds, it may take several days for it to clear into your trading account.

Step 3: Decide how much to invest

When funding your trading account, start with a small amount. There's no need to invest a large amount until you have real trading experience so you don't risk more than you can afford to lose on a bad trade.

Step 4: Choose between shares of stock or ETFs

After setting up and funding your trading account, it's time to buy some stock. You have two choices for gaining exposure to Carnival. You could purchase the stock outright or buy an ETF.

ETFs are financial vehicles containing the stock of multiple companies in the same sectors or geography. The Vanguard Mid-Cap ETF (VO) or the SoFi Social 50 ETF (SFYF) are good examples of ETFs offering exposure to CCL price action.

Step 5: Set up your order

After choosing your asset class, it's time to place your order. Here are the four common order types used in trading.

Market order

The market order gets you into CCL at the next price available. However, this order type can derail your trading plan. For instance, you might want to get into the stock at US$50. However, the broker might fill you at a higher price, depending on the market's movement. Any amount you pay above your intended price is what's known as "slippage."

Limit order

The limit order is the best choice for day traders. You set a limit on the price you're willing to pay for the stock. For instance, you set up a limit order to buy at US$50, and you won't be paying any more than that price to enter the stock. While limit orders prevent slippage, they can also result in partial or missed fills in fast-moving markets.

Stop limit

This order lets you sell when you reach your price target. Let's say you enter at US$50 and want to sell at US$60. You enter your stop limit, and the broker liquidates your position when the market reaches your target, locking in a profit.

Stop loss

This order type helps you manage risk. If you get into CCL at US$50, you'll set your stop limit at 5 to 10% below your entry. The stop loss acts as a safety net. If the price falls below the stop, the broker executes a sell order to get you out of the trade and limit your loss.

Step 6: Place the order

In your trading platform, complete the order form with the ticker symbol, the limit price, and the number of stocks you want to buy.

After you buy

What moves Carnival's stock price

Carnival stock reached an all-time high in mid-2018. The company was already experiencing a decline before the pandemic hit in 2020. CCL fell on the news of the Diamond Princess experiencing an outbreak onboard the ship.

However, in 2021 CCL experienced a recovery in the wake of the pandemic, presenting buying opportunities as travel opens up around the globe. Other stocks like Carnival in the travel sector for comparison include Royal Caribbean (NYSE: RCL), Norwegian Cruise Line Holdings (NYSE: NCLH), Delta (NYSE: DAL), American Airlines (NASDAQ: AAL), and Hilton (NYSE: HLT).

Disclaimer: We put our customer’s needs first. The views expressed in this article are those of the writer’s alone and do not constitute financial advice. Advertisers cannot influence editorial content. However, Finty and/or the writer may have a financial interest in the companies mentioned. Finty is committed to providing factual, honest, and accurate information that is compliant with governing laws and regulations. Do your own due diligence and seek professional advice before deciding to invest in one of the products mentioned. For more information, see Finty’s editorial guidelines and terms and conditions.