Convert Cad To Usd
TLDR: For amounts over $2500 CAD use IBKR to convert to USD and an EQ USD savings account or a Wise USD account to receive the money to then invest or spend. IBKR =. If IBKR offers a spot CAD to USD rate (e.g., the current rate is 0.7467, while WS's rate is 0.7324), would it make sense to DCA bi-weekly with an amount around $1000 and potentially save. So I want to convert a couple thousand CAD to USD for an upcoming trip. I intend to open a CIBC USD account for this so I can go to the branch and withdraw the converted. Personally I use the iOS app to convert my Euros to USD because there is a dedicated section to convert your currency, with a 2 dollar commission. In fact, I almost use. "That’s only if you are sending/receiving money internationally from/to your Eq usd account. They don’t use wise when you try and convert from Eq usd to Eq cad." Fair enough, I haven't tried.
If you place a sell order on this pair, it will trade your CAD for USD. The fees to do this as a new user are 0.26% for a market order or 0.16% for a limit order. Fees are calculated. My only concern is the fee for converting usd to cad within my cibc accounts (if there even is one) and if it would cheaper or more expensive (which ill need to look into). I did. As BoC raised rates - CAD $ typically would strengthen - so I would avoid converting around these times. As US Central bank raised rates - USD $ would typically. For those expenses, you can open a balance in CAD and convert it to USD. Then make an ACH transfer to your local US bank. As for investing, make a connection with Wise.
