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I would think using Norbert's gambit with a discount broker would be the cheapest way to convert large amounts of currency (e.g. buy DLR-U.TO, sell DLR.TO.)
by papercrane 11y ago
I would think using Norbert's gambit with a discount broker would be the cheapest way to convert large amounts of currency (e.g. buy DLR-U.TO, sell DLR.TO.)
- cperciva 11y agoNorbert's gambit is good, but not free - you still lose about 20 bp to market spreads using DLR.TO. If I was moving more money I would use that (possibly with a more heavily traded stock) but the marginal advantage wouldn't be worthwhile for my volume.