How to buy NIO (NIO) stock from Canada

Nilooka Dissanayake avatar
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Andrew Boyd avatar
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Updated 17 Oct 2023

NIO Inc. (NYSE: NIO) is a Chinese company that designs, develops, manufactures and sells smart electric vehicles and provides power solutions and other value-added services. NIO was founded in 2014 and is headquartered in Shanghai. The company listed its stocks on the New York Stock Exchange in 2018.

NIO also listed on the Hong Kong Stock Exchange in 2022. To buy their stocks on the NYSE from Canad, follow this guide.

New to trading the US markets? Read our complete guide to buying US stock.

About the company

NIO overview

NIO designs, manufactures and sells smart, connected electric vehicles. It also makes a variety of vehicle charging solutions, including home and public charging. It also offers various value-added services to its users including a service package, battery payment arrangements and vehicle financing and third-party liability and car damage insurance. The company has a strategic collaboration with Mobileye (owned by Intel) for developing automated and autonomous vehicles for consumers.

The company chose Norway, an EV hotspot, for its entry into international markets by offering a European version of ES8, its flagship electric SUV, in September 2021 and its ET7 sedan in 2022.

Unsure about what trading platform to use?

Where to buy NIO stock

CIBC Investor's Edge

Not available for application via this website

CIBC Investor's Edge

Highlights

  • Trade Canadian and U.S. stocks online for a flat $6.95 per trade — with no account minimums.
  • Students benefit from a reduced $5.95 flat fee and no annual account fees.
  • Access both registered (RRSP, TFSA) and non-registered accounts in one place.
  • Research tools include analyst ratings, stock screeners, and market news powered by Thomson Reuters.

Pros

  • Backed by one of Canada’s Big Five banks, with integrated banking and investing through your CIBC account.
  • Easy-to-use platform suitable for long-term investors who want a simple, self-directed option.
  • Joint accounts, spousal RRSPs, and RESP accounts are available, giving flexibility for families.
  • Dividend reinvestment plans (DRIPs) are supported with no extra charge.
  • CIBC Mobile Wealth app makes it easy to monitor your portfolio on the go.
  • No inactivity fees, which is rare among bank-owned brokerages.

Cons

  • No access to commission-free ETFs, which some other platforms now offer.
  • Trading platform lacks advanced charting and technical tools for active traders.
  • U.S. dollar accounts are not available for all account types, so currency conversion fees can add up.
Qtrade Direct Investing™

On website

Apply by October 31, 2025

Qtrade Direct Investing™

Highlights

  • Low trading fees with no hidden costs and consistently competitive pricing across Canadian markets.
  • Clean and intuitive platform with robust tools for stock screening, charting, and portfolio tracking.
  • Trade on the go with the new Qtrade app, featuring options trading, portfolio insights, alerts, and a sleeker design.
  • Options Lab simplifies complex strategies into step-by-step guided selections.
  • Stay informed with a personalized AI-powered newsfeed through Qtrade’s integration with PersonaFin.
  • Known for award-winning customer service that follows through when you need help.

Pros

  • Consistently low trading commissions make it a smart choice for long-term investors and active traders alike.
  • Well-designed desktop and mobile platforms offer both simplicity for beginners and depth for experienced investors.
  • The Options Lab tool demystifies options trading with tailored strategy recommendations.
  • Access to a wide selection of ETFs, stocks, mutual funds, and fixed income products in one place.
  • Strong research tools including screeners, watchlists, and analyst ratings help users make more confident decisions.
  • Responsive and knowledgeable client service, often ranked among the best in Canada.

Cons

  • $25 quarterly fee applies if you don’t maintain a minimum balance or meet trading activity — but this can be waived easily with regular use.
  • No commission-free ETF trading unlike some competitors.
  • While robust, the mobile app may still lack some advanced features.
Questrade

On website

Highlights

  • Trade stocks, ETFs, options, and more with low commissions starting at 1¢ per share (min. $4.95, max. $9.95).
  • No annual RRSP or TFSA account fees.
  • Wide range of account types, including registered, non-registered, corporate, and margin accounts.
  • Buy ETFs commission-free, which helps reduce costs for passive investors.
  • Robust research tools, market data packages, and customizable trading platforms.
  • Fund your account easily with Interac e-Transfer, bank transfer, or pre-authorized deposit.

Pros

  • One of the most cost-effective platforms in Canada for self-directed investors.
  • Buying ETFs for free makes it highly appealing for those following long-term, passive strategies.
  • Flexible platform options. From easy-to-use Questrade Trading to the more advanced Questrade Edge.
  • Offers both USD and CAD accounts, so you can avoid currency conversion fees when trading U.S. stocks.
  • Access to IPOs and international equities gives investors more diversification opportunities.
  • Educational resources and real-time market data packages help users trade with more confidence.
  • Registered with IIROC and CIPF, ensuring regulation and investor protection.

Cons

  • Charges apply when selling ETFs.
  • Currency conversion fees can still apply if you're not using a dual-currency setup.
  • Some of the more advanced data packages cost extra, which may be a consideration for budget-conscious users.

Compare online brokers on Finty. Research fees, commissions, tradable assets, markets, etc.

First time buying?

How to buy NIO stock

Step 1: Find a broker

Find an online broker that allows you to trade stocks listed on US markets. Most Canadian brokers with US market access will have shares listed on the NYSE and NASDAQ.

These are just some of the factors to be aware of when looking for a broker.

Trades without commissions

You can trade commission-free on several platforms which can save you plenty over time.

Fractional stocks

Brokers who offer fractional stocks can let you buy a fraction of the stock, instead of buying the entire stock. This makes it easier to diversify your holdings.

Easy trading interface

It shouldn't take long to learn how to trade stocks. Make sure you choose a broker that has an intuitive interface you can use with no steep learning curve.

Research and analysis

A trading platform with a robust research and analytics section allows you to make decisions based upon price history, market updates, and quarterly earnings reports. Some brokers even offer analyst recommendations.

Step 2: Transfer funds to your trading account

You will need to fund your account before you can start buying stocks. You should be aware that funds can take time to clear. This means that it’s unlikely you will be able to trade immediately.

Step 3: Set your investing budget

Because stocks can be volatile, you should only allocate money you are willing to lose.

You might consider investing in fractional stocks. This gives you more freedom and you won't need to spend more than your budget allows.

Step 4: Decide whether to purchase stocks or invest via ETFs

An Exchange Traded Fund (ETF) is regarded as a diversified investment and safer than investing in a single stock.

Vanguard FTSE Emerging Markets ETF (VWO) and First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) are two ETFs with exposure to NIO.

Step 5: Spec your order

There are many order types you can choose from, and you can customize the price and buying or selling point for each stock. These order types can be found on many platforms.

Market order

Market orders are instructions to buy or sell stock at current market prices. However, the actual price at order execution may be different from the one that was offered to you at the time you placed the order.

Stop limit

This type of order allows you to automatically sell your stocks at a fixed price. However, if the market is moving quickly against you, the order may not be executed if the price falls past your limit price.

Stop loss

A stop loss order allows you to decide the selling price. It is used often to defend a trade position from market volatility. A stop loss could be set at US$32 per stock, for instance. Your stop loss order is executed automatically if the price falls below this level and your order will be filled at the next available market price.

Step 6: Submit the order

Once you've chosen a broker, and determined how you want to invest in your stocks, you are ready to place your order.

After you buy

What moves NIO's stock price?

Whether you invest in stocks with a speculative motive or to hold them over the long term, you need to keep track of the company’s performance and its stock price movements.

Track NIO’s performance

Keep watching the company’s performance and its stock fundamentals. You can do this by watching news stories and keeping an eye out for company announcements.

A prolonged global chip shortage has affected NIO and car makers worldwide, including Ford Motor Company (NYSE: F), Honda Motor Co Ltd (LON: 0J5T), General Motors (NYSE: GM) and Volkswagen (ETR: VOW3). Many, including NIO, are compelled to curtail or idle production as a result, and the shortage resulting from pandemic-related disruptions is "unlikely to resolve soon" according to China's top car industry body.

Watch for developments in the EV markets worldwide

The actions of electric vehicle makers, and the growing popularity of EVs worldwide, is going to impact NIO because beyond EVs the company is also manufacturing a variety of chargers, which will see surges in demand as the global EV population grows.

Competition

XPeng Motors (NYSE: XPEV), Li Auto, and BYD Company are three of NIO's rivals in the domestic (Chinese) market for electric vehicles. NIO also competes with Tesla (NASDAQ: TSLA) in China but has the benefit of battery swaps, a core of its business model.

Once it enters the international market, starting in Norway, NIO will be competing with UK-based Arrival (NASDAQ: ARVL) and Lucid Motors (NASDAQ: LCID), Nikola (NASDAQ: NKLA), Fisker (NYSE: FSR) and other US EV makers.

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.

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