Norbert’s Gambit – Tranding Strategy

Hello World,

This is specifically for my Canadians! Have you ever heard of Norbert’s Gambit?

Then you are missing out! I am about to spill some tea on how to save money on foreign exchange fees legally. Norbert’s Gambit is used when you are trading and you want to buy a US stock but you have Canadian dollars. To avoid exchange fees of let’s say 20%, you can just pay $5 to $7 CAD.

Imange you have $10,000 CAD and you want to exchange it to USD, instead of paying a wapping $200 in exchange fees just apply Norbert’s Gambit and you will pay about $10 dollars. I do it all the time.

First, you will in need a brokerage, I would suggest Questrade. Then you would need an account your trading in RRSP or TSFA. I would say, go for your RRSP.

Here are your easy steps:

  1. Then you go to Trading and look up DLR.TO. This is a ETF that tracks CAD currency.
  2. You have to decide how much money you are trading. For example, $2,000 CAD.
  3. Then you have to look at how much DLR.TO is trading at. Currently it is trading at $12.89.
  4. Then you $2,000 divide $12.89 and get the number of share you can purchase. In this case it’s 155.
  5. Make the trade to Market and buy the 155 shares
  6. Call or simply open the chat and ask the representative to Journal your shares in DLR.U.TO
  7. DLR.U.TO is the same etf in USD
  8. After 5 days, you will be able to sell your USD DLR.U.TO and you will have US Dollars to buy your US stocks

YOU SAVED MONEY!

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