0

Questrade Norbert's Gambit Updated?

Visibility: Public
asked Jan 08, 2015 02:18 PM by
 gravatar image

Hi Jin. Thanks so much for this great web-site and the resources / information you provide. It's excellent. I'm trying to exchange CAD to USD cheaply following your blog and video post here.

In the "Update" section at the top of the article, you mention that for 'margin' accounts, the currency settlement is 'trade currency' by default. When you say 'margin' account are you referring to all non-registered accounts (margin and non-margin) or only those that are truly enabled margin accounts? The reason I ask my question is because I do not see the 'currency settlement' option in the bottom right hand corner of the Summary tab under Account Management. However, I have not enabled my account to be margin eligible. So I'm guessing it's because all non-registered accounts are trade settled but I wanted to confirm this with you first before proceeding.

Thanks in advance for your advice.

Edit Retag Flag offensive Close Delete

3 answers

sort by ยป oldest newest most voted
1
answered Jan 09, 2015 09:49 AM by
Jin Won Choi gravatar image Administrator

Hi Jeff, thanks for your support.

You're correct - by 'margin', I mean all non-registered accounts, regardless of whether it has margin enabled or not. For all non-registered accounts with Questrade, the currency of settlement is always set to the correct setting.

All the best, Jin

Edit Flag offensive Delete Link

Comments

1

Thanks Jin!

j3ffr3yli ( Jan 09, 2015 11:54 AM )edit
1
answered Jan 09, 2015 11:19 AM by
 gravatar image
updated Jan 09, 2015 11:21 AM by
 gravatar image

Hi Shang-Kai,

You can check out the following link: Norbert's Gambit @ each Discount Brokerage. I found the information here to be useful.

You may want to open a Questrade account because buying ETFs there is no commission.

Regards, Jeff

Edit Flag offensive Delete Link

Comments

The link explain how to convert CND$ to USD$. Do you have a guide to convert USD$ to CND$? Thank you

shan52 ( Jan 11, 2015 08:52 AM )edit

To convert USD to Canadian, just do the opposite - i.e. buy DLR.U, journal it to DLR and then sell it.

Jin Choi ( Jan 12, 2015 12:17 PM )edit
0
answered Jan 09, 2015 11:09 AM by
 gravatar image

Hi, is it possible to exchange USD$ to CND$ using Norbert's Gambit. I dont have a Questrade account, is it possible to use with RBC?

Edit Flag offensive Delete Link
Please log in to post an answer.
Web Analytics