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New CIBC USD to CAD Foreign Exchange in Investor's Edge

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  • Feb 8th, 2021 9:20 am
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May 12th, 2020 3:23 am
Icekain [OP]
Jr. Member
Nov 26, 2014
105 posts
46 upvotes
Vancouver, BC

May 12th, 2020 3:23 am

New CIBC USD to CAD Foreign Exchange in Investor's Edge

What are your thoughts on the new feature? Anyone try it yet? Is the exchange rate comparable to doing norbert's gambit?

"Foreign Exchange - new!
Submit a request to convert funds between CAD and USD currencies." for CIBC Investor's Edge Starting May 7,2020
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4 replies
Jan 13th, 2021 3:11 pm
Polaris333
Newbie
Oct 2, 2019
5 posts
1 upvote

Jan 13th, 2021 3:11 pm

Did you ever find out the answer to this question? Is it still worth it to do Norbert's Gambit?
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Feb 6th, 2021 3:29 pm
Spyder01
Member
May 12, 2006
269 posts
157 upvotes

Feb 6th, 2021 3:29 pm

Anyone know the answer to this?

All the info I found online are the old system, I want to know if there is a fee to use that foreign exchange option. According to the site below, they charge 2%. And along time ago, they didn't charge any exchange fee when they only allowed holdings in cad.

https://www.stocktrades.ca/norberts-gambit/
Feb 8th, 2021 9:19 am
milanoL
Member
Oct 17, 2014
259 posts
207 upvotes
Toronto, ON

Feb 8th, 2021 9:19 am

Spyder01 wrote: ↑ Anyone know the answer to this?

All the info I found online are the old system, I want to know if there is a fee to use that foreign exchange option. According to the site below, they charge 2%. And along time ago, they didn't charge any exchange fee when they only allowed holdings in cad.

https://www.stocktrades.ca/norberts-gambit/
No fee.
On Feb 01, 2021 the rate CIBCIE used is 1.299910; rate from xe.com is 1.2825547310
Feb 8th, 2021 9:20 am
questforfire84
Newbie
Nov 14, 2013
36 posts
41 upvotes
Oakville

Feb 8th, 2021 9:20 am

They take about a penny on the dollar more than the current exchange rate

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