converting USD to CDN

Discussion in 'Professional Trading' started by bespoke, Nov 12, 2008.

  1. bespoke


    What's the best way to cash USD checks in CDN to save on the spread. Any specific banks with better rates? Should I open an account in USD? I figure there must be a way to save hundreds if not thousands per month. Any tips and tricks are appreciated.
  2. I'm assuming you're in Canada. Vancouver Bullion, Custom House etc, will give much better rates than banks.
  3. Tums


    open an account with IB

    the have the best spread.
    you can withdraw in any currency you want.
  4. FCCT


    Best way would be to wire to a broker in USD, convert at spot in 25k + chunks, withdraw to a CAD account. Per 100k USD should save about $1000 in spreads vs the banks.