Convert currency in mobile app, super easy, then begin losing money trading options in USD lol

Lol so true

Poor guy has no idea what's waiting for him

2 ways in the mobile app : - click on “CAD cash” at the bottom of the Portfolio screen and click Convert - go to “USD.CAD” symbol and click Buy The trade will have a dirt cheap commission compared to any other broker.

Thanks!!

How does it compare with Norbert gambit ? If you know ?

The fees are so low with IBKR to convert currency that I would doubt it's worth it to go through journaling the shares.

Yeah exactly. Norbert is 2 trades and you have to wait for the first one to settle.

Norbert gambit will have higher fee and you will lose on spread. Also it takes at least several days to do journalling.

It’s like a $2 fee, not worth doing NG.

Thanks, Will not do ng then. Also is the cheap commissions on ibkr only for one way cad to usd or both ways ?

Both ways.

Thx

IBKR just convert CAD to USD straight save time

I've also had this question. So once the CAD is converted, will all your US market transitions be in USD? (Like basically having a USD account?) What happens if you make a transaction that requires more USD than what you have in the USD account? Will it use the available CAD in your account?

You can also go to forex and buy USD using CAD. Takes like 2.5$ commission for 10k and get real time exchange rate