Quote:
Originally Posted by Euro7r
I just opened a Questrade account TFSA. Looking to purchase some USD stocks, the most cost effective approach is to transfer USD funds to purchase. If I didn't have any USD funds in my bank, how does the CAD get converted to USD in order to purchase USD stocks?
Looking to only play with a few thousand dollars.
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the most cost effective way to convert cad to usd in a trading account is to use the Norbit's Gambit method
1.buy DLR (canadian ticker) with Cnd,
2. Contact questrade customer service directly
3. request to have your DLR stock journal over to DLR.U
4. sell your DLR.U stock and get Usd.
You only pay the commission to buy and sell stock and a slight variation in bid/ask spread. Overall this will be much cheaper than just letting questrade convert your money. Make a even bigger different the more money you are exchanging
Anybody got caught up with the HMNY/moviepass mess? got in $9, got out at like $20. Saw the craziness and try to day trade scalp it. Got caught at the top…. Lost everything I made on the come up and a little more
saw a lot of massive lost on this stock online…. like suicide inducing lost