Our CAD to USD calculator is incredibly simple to use. Since we are secure in our market position, we believe that our exchange rates will stay steady. You should be confident that you are receiving the most competitive Scarborough exchange rates.
We recognize why some financial firms continue to demand certain high prices even when the foreign exchange market is already in a turbulent situation.
You have most certainly done your research and are here as a result. You’ve had plenty of time to map out the potential gains up to this point. As a result, you now have the ability to capitalize on your advantages. Currently, a feasible option is to use Questrade to convert the CAD to USD and vice-versa, which costs 1.5-1.99 percent both directions (which at least is better than banks, which charge about 2.5 percent). You may also use Remitbee Currency Exchange, which does not charge any fees.
If you just want to swap $100 in your lifetime, it might not be worth it to make the change - it will just save you $4 (about $2 either way) - but once you start contributing thousands again, you may be wasting a significant amount of money only on fees.
Consider the following compared to Questrade fees:
- A $1000 stake in US stocks: You may be losing about 40 CAD in benefit
- Stocks in the United States worth $50,000: That is about 2,000 CAD you might be losing.
Banks have pulled off bad rates because they know that the vast majority of consumers would not scrutinize the exchange rates that they promote. The exchange rate they give you is a lot lower than the real exchange rate, something most people are unaware of.
A basic Google search for “usd to cad” or “cad to usd” would yield the right exchange rate.
In addition to offering extremely competitive rates, you can pay no fees if you exchange at least $10 between the two currencies.
FINTRAC, a Canadian government body, governs and audits us as a Toronto foreign exchange operation. There is no better feeling than believing your money is safe.
Do you ever get irritated when you ask for assistance and just get canned responses? We understand how you do.. Our optimistic Trustpilot and Google customer service reviews would show how much we care for our customers.