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Interesting! Thanks for clarifying! Edit: And your brokerage doesn't force the settlement funds into your local currency at an exorbitant rate or anything? (I

• Scoundreller 6y ago
  Not anymore. It’s fairly standard for Canadian brokerage accounts to have a US$ and CAD$ side. You do have to 'journal' the holdings between them for my broker. This is now possible online, but used to require a phone call. The big gotcha with this method (depending on your account and broker) is that you might need to wait for your 'buy' to settle (2 biz days I think?) before journalling, so you face some market risk). The procedure is somewhat formalized: https://www.finiki.org/wiki/Norbert%27s_gambit https://www.finiki.org/wiki/Norbert%27s_gambit
  • wdb 6y ago
    Yes, normally takes two days, and can see the reason why they want you to call them beside the client binding :)
    • Scoundreller 6y ago
      Depends on the broker. Some make it instantly possible. Also instant if you already have a cross-listed holding.
      • wdb 6y ago
        Think it also depends on the interbank system