As a Canadian investor, to invest in some businesses and sectors, I have to buy shares from companies in the US and it requires me to manage US currencies. Some Canadians are also employed by publicly traded US company, when trading ESPP (Employee Stock Purchase Plan), they would need to execute a currency exchange at some point.
Read through the following post to avoid high bank fees on your transactions.
Forex – Currency Exchange
- XE.com Review – xe.com is an online currency exchange service. It’s better than the banks but if you use the Norbert’s Gambit you might have a good process already.
- Using a Forex Platform – How do you exchange your currencies? Still through a bank? If so, you should know it’s highway robbery 🙂
- The Norbert’s Gambit – A unique and interesting way to exchange currencies through a discount broker.
- Difference Between Forex and Other Markets – Find out the differences between the forex and stock markets.