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Other Currencies in My RRSP | 9 comments | Create New Account
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Other Currencies in My RRSP: go to tradefreedom
Authored by: fred on Friday, June 22 2007 @ 03:37 PM EDT
Can you avoid foreign currency exchange fees in trading?
Not with Canadian banks!
they all charge about 2% for buy and for sell.
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But you can minimize the fees.
Just move your RRSP account to a private non-bank broker like Tradefreedom.

They have just told me that their RRSP forex fee for USD purchase or sale is .02%,
which is 1% of what the strong, rich Canadian banks charge us secretly.
Everybody knows this is theft, and false advertising, but our regulators are weak or stupid.

If you are tired of paying 4% of your profits to those arrogant SOBs in the Canadian banks,
jump ship.

Before you pick a particular brokerage, do a google search on them with keyword= complaint.

As for me, I hold a third of my RRSP in a USD stock, and refuse to trade any USD equities until
I have transferred my account to Tradefreedom or an equivalent.

Without USD and ADR stocks, you are stuck with the TSE, where the choice for trading becomes more limited all the time.

Angry in Ottawa
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