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What's the best free brokerage to do Norbert's gambit in Canada? (sh.itjust.works)

submitted 1 year ago by CowsLookLikeMaps@sh.itjust.works to c/personalfinancecanada@lemmy.ca

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Since to my knowledge, WS trade doesn't allow Norbert's gambit and has a 1.5% forex fee, then does that leave Questrade as my best option to convert $USD to $CAD? I'd only use that account to exchange and then withdraw.

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[–] AlternateRoute@lemmy.ca 3 points 1 year ago (1 children)

You can't really do it free (only purchasing ETFs is free on questrade for the most part), and thus it is only worth doing on larger sums of money lets say $10,000 or more.

[–] Fenrisulfir@lemmy.ca 1 points 1 year ago

To add to this, it cost me $600+ to do it with $10k in 2020. Forex is a bitch