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; 110 posts; 47 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

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; 288 posts; 167 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; 303 posts; 259 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; 59 posts; 58 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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