When you use our CAD to USD calculator, we make it simple to figure out how much you’ll get. Because we’re confident in our competitive exchange rates, we’re completely transparent about it. Compare our rates to those offered by other Oakville money exchanges to ensure you’re getting the best deal.
We believe it is unjust that certain financial institutions continue to charge such high fees for your foreign exchange needs, particularly in these difficult times.
Since you buy US stocks, we’re going to assume you want to do a lot of research. It’s most likely why you’ve come to this website in the first place.
You now have a new chance to maximize your earnings. Until now, converting your CAD to USD and vice-versa with Questrade, which charges 1.5-1.99 percent both ways, was a competitive choice (which at least is better than banks, which charge about 2.5 percent). However, you now have the option of using Remitbee Currency Exchange, which has no fees.
If you only plan to trade $100 in your lifetime, it may not be worth it to switch - you’ll save $4 (roughly $2 each way) - but once you start investing in the thousands, you could be losing a lot of money just on fees.
Consider the following compared to Questrade fees:
- A $1000 investment in US stocks: It’s possible that you’re missing out on about 40 CAD in earnings.
- Stocks worth $50,000 in the United States: That’s about 2,000 CAD you might be squandering.
Banks have been able to get away with poor exchange rates because they know that most people will not question the rates they are given. The exchange rate they give you is significantly lower than the real rate, but most people are unaware of this.
The actual exchange rate can be found with a quick Google search. Simply type “usd to cad” or “cad to usd” into the search box.
You get zero fees when you exchange a minimum of $10 between the two currencies, in addition to very competitive rates.
FINTRAC, a government of Canada agency, regulates and audits us as a Toronto foreign exchange service. Have peace of mind knowing that your funds are safe.
Nothing is more aggravating than speaking with a customer service representative who gives you generic and rehearsed replies. We’ll let the positive Trustpilot and Google customer service reviews speak for themselves about how much we care for our clients.