If you’re interested in investing and buying US stocks in Canada, you need to check out other options when it comes to exchanging currency.
With Remitbee currency exchange, you can get the most out of your trading. Questrate, which is a popular option for those converting CAD to USD, charges 1.5-1.99%. However, Remitbee Currency Exchange charges you zero fees.
Once you start to invest in the thousands, you could be losing a ton of money just on fees alone! For example: Consider the following compared to Questrade fees:
- $1000 worth of US stocks: You could be losing about $40 CAD.
- $50,000 worth of US stocks: You could be losing about $2,000 CAD
Changing currency with Remitbee is pretty easy and fast. Indeed, it will take you a few minutes with only a three-step process. The good thing is that you can exchange up to $250,000 daily without any hidden fees.
And it is simple too, as you only need to send them a direct payment from your bank account, and they’ll do the rest.
However, it is essential to note that if you’re planning to exchange CAD for USD, they recommend that you have a USD account in Vernon to be eligible. Then the FX broker will deposit money directly into the bank account of your choice.
Let’s take a look at the three simple steps;