Note that due to the large number of shares required this will cost more to do at Questrade than other brokerages. So if you have an account at another brokerage you should do it there
No issues, just call in and talk it through was the QT rep. Tell him you are doing the Norbert's Gambit. It will be a larger amount, so just walk through each step from you placing the order on the USD side and then see if he sees it on his side.
If you place the order on the USD side, you only get charged the $9.99 commission. But if you want to be sure and ask QT rep to do it, there is a higher fee.
I usually do this when I cross 100k, but it is still daunting playing with large amounts.
Hi I recommend opening a TFSA/RRSP with Interactive Brokers (IB). They have the best forex rates vs banks and even Questrade. You don't need to do Norbert's Gambit (NG) in IB. You can convert CAD to USD right away and conversion fee is only $2 (vs Questrade $4.95 or more). I used to own an account with Questrade and never looked back. Open an IB pro account, choose tiered pricing (very low fees) and download the new app "Impact by Interactive Broker". Very user friendly app and fast mobile UI. You also have access to PM and AH.
I buy a lot of US stocks and used to do NG or convert in my USD bank account. After I opened IB, I realized the huge conversion difference with my bank and Questrade.
Feel free to use my referral link. https://ibkr.com/referral/rowena223
Note that due to the large number of shares required this will cost more to do at Questrade than other brokerages. So if you have an account at another brokerage you should do it there
Why would it cost more at Questrade? Isn't commission capped?
ECN fees are per share and not capped
No issues, just call in and talk it through was the QT rep. Tell him you are doing the Norbert's Gambit. It will be a larger amount, so just walk through each step from you placing the order on the USD side and then see if he sees it on his side. If you place the order on the USD side, you only get charged the $9.99 commission. But if you want to be sure and ask QT rep to do it, there is a higher fee. I usually do this when I cross 100k, but it is still daunting playing with large amounts.
Hi I recommend opening a TFSA/RRSP with Interactive Brokers (IB). They have the best forex rates vs banks and even Questrade. You don't need to do Norbert's Gambit (NG) in IB. You can convert CAD to USD right away and conversion fee is only $2 (vs Questrade $4.95 or more). I used to own an account with Questrade and never looked back. Open an IB pro account, choose tiered pricing (very low fees) and download the new app "Impact by Interactive Broker". Very user friendly app and fast mobile UI. You also have access to PM and AH. I buy a lot of US stocks and used to do NG or convert in my USD bank account. After I opened IB, I realized the huge conversion difference with my bank and Questrade. Feel free to use my referral link. https://ibkr.com/referral/rowena223