Trading American stocks - best way / least commission or exchange rate costs
Hello all
I've been using CIBC Investor's Edge for trading in Canadian stocks, and use QTrade and Yahoo finance for monitoring stock prices. I'd like to get into American stock trading, but are leery of losing multiple percentage points on CAD -> USD -> CAD exchange rates back/forth when buying/selling (I'm a high frequency trader). It seems that what would be ideal would be to move a large lump sum of CAD into a USD account at a reasonable exchange rate, and then trade in USD using that account, with no exchange penalty per transaction - we are fine with a flat rate cost per transaction, i.e. that we experience with Investor's Edge for Canadian stocks.
Can anyone give some advice as to how I might be able to manage this, or relate any low fee way that you trade US stocks? Thanks!
I've been using CIBC Investor's Edge for trading in Canadian stocks, and use QTrade and Yahoo finance for monitoring stock prices. I'd like to get into American stock trading, but are leery of losing multiple percentage points on CAD -> USD -> CAD exchange rates back/forth when buying/selling (I'm a high frequency trader). It seems that what would be ideal would be to move a large lump sum of CAD into a USD account at a reasonable exchange rate, and then trade in USD using that account, with no exchange penalty per transaction - we are fine with a flat rate cost per transaction, i.e. that we experience with Investor's Edge for Canadian stocks.
Can anyone give some advice as to how I might be able to manage this, or relate any low fee way that you trade US stocks? Thanks!
Full Service Realtor
Niagara / Hamilton-Burlington
Niagara / Hamilton-Burlington