US Dollar exchange in Toronto

Discussion in 'Forex' started by Marwan, May 19, 2007.

  1. Marwan


    Hi everybody,
    I need to change around 20000US in Toronto to Canadian dollar.
    Bank rates are not very good, big spread (around 5%).
    Money Exchange rates are similar to Bank.

    Any Ideas?Thanks
  2. oanda
  3. Marwan


    I have a US account with Oanda.
    I can send US funds to my account, and how to get the canadian funds?
    Maybe open another canadina dollar account? and transfer between them?

    Please give me some hints.

  4. The best retail place I've found is a place in Chinatown called Goldium II. It's at 279 Spadina (at Dundas). Usually a 100-150 pip spread on USDCAD above $3000. If you call them up first they'll commit to price for an hour or so. It's not amazing, but the big 5 all give a terrible 350 pip spread. ING gives 290.
  5. I believe Freidberg Mercantile offers pretty competitive rates.
  6. yrbium


    I go to a place on Yonge St. one or two blocks south of Queen on the east side. I think it's called Guardian. It's a decent professional place, and I believe their rates are pretty good. They also have a second office just a few blocks north at Yonge and Dundas.

    By the way, I used to go to Friedberg, but some time ago they advised me that they no longer serve consumers, just businesses.
  7. I've used Guardian in the past but you need to be careful about getting there soon after you've received your price. Last time I went there, they wouldn't give me the rate they said they 'locked me in' at, because I took too long to get there.
  8. I second that, you can check Guardian exchange rates also online @
  9. I've used Guardian on Yonge to buy some South Amercan currencies. Found their rates to be good but similar to the Airport/American express booths.

    Sounds like quite a few Toronto ETers out there!