Monday, January 14, 2008

How to Hold USD in RSP

Here's some good news for all of you interested in trading US Dollar denominated stocks within your registered trading account:

For the FIRST time in Canada, hold U.S. cash in your RSP.
Trade U.S. stocks and option without the currency hits.


With Questrade, that's how!

The Questrade RSP lets you:

  • Hold US currency
  • Manage the currency used to trade US stocks & options online
  • Avoid paying hefty conversion fees
USD in RSP is available in all registered accounts. There is no need to call anyone to place a trade.

Here’s how it works:

Hold USD and CAD in any registered savings plan.
Simply opt in to hold USD through myQuestrade.
Choose to settle trades in USD, CAD or the currency of the trade.

For accounts that settle in CAD, you still SAVE BIG when you buy and sell USD securities in the same day. Questrade only converts the net proceeds of the trade – the difference between any buy and sell.

React instantly to the market with your trading decisions. Once your settings are in place, there is no need to advise Questrade in advance of any buy or sell requests for U.S. securities.
Questrade only charges currency conversion fees when you decide to exchange your money – no more forced currency conversions.

If you do have to convert currency between USD and CAD, take advantage of Questrade's low fees of only 50 pips – or .5% of the trade. This is a significant saving compared to the industry fee of 1.5% to 2% per trade. On $10,000, that’s $150 savings!

Questrade also has other promotions available when you sign up.

So if you're thinking of changing brokers and/or want some U.S. stock exposure in your RSP, you should consider Questrade.

If you sign up or are already in the process of signing up with Questrade, please use the affiliate /coupon code: TRADER.

If you are a blogger / webmaster and would like to take advantage of Questrade's new affiliate program, you can join their affiliate system. Please use TRADER as your parent affiliate ID.

All realized affiliate program proceeds from A Canadian's Trading Diary will be donated to charities.

Sunday, January 13, 2008

Bought a Diamond? You Might Get Some Money Back

I'm not sure if Canadian diamond buyers qualify, but if you bought a diamond within the past few years the following settlement agreement might be of interest to you...

Bought a Diamond? You Might be Due $$
by David Migoya on January 11, 2008

In a little-known class action lawsuit out of New Jersey, attorneys have worked a settlement agreement with the world’s largest diamond producers, De Beers, that will divide roughly $135 million among Americans who purchased the gem from 1994 to 2006.

Before you spring out of your chair, the ultimate per-person payout might not be that much. The only thing you’d need to qualify for part of the divvy is to have purchased a diamond — any kind of diamond will do — from Jan.1 1994 through March 31, 2006.

The deadline to file a claim is in May. The settlement agreement still needs a judge’s approval, which is expected to happen in April.

The lawsuit alleged that De Beers’ group of companies fixed, raised and controlled the price of diamonds worldwide. Seeing as De Beers supplies the bulk of the world’s diamonds via its mines in South Africa, the allegations might not have been a stretch.

You can read more about the lawsuits and file an online or mail-in claim to register for the eventual payouts at The classes vary, meaning consumers who purchased diamond jewelry from anyone other than De Beers — and that includes private sales — would share in one pot of money while individuals who bought loose gem stones would qualify under a different class. Resellers, too, would have standing for a claim.

Now, to read and learn — and brother, you will indeed learn a lot! — about how the worldwide diamond market is a little more man-made than you might have realized, Atlantic magazine published a dandy piece in 1982 that’s worth a read. Find it here:


Friday, January 4, 2008

Meet The Lazy Investor

For those of you residing in the Ottawa-area who are interested in Derek Foster's strategies to early retirement, you might want to attend one of his four presentations during the month of January at the Ottawa Public Library.

Who's Derek Foster, you ask.

Learn more about him in the two part book review of his latest book, The Lazy Investor:

Year-End Stock Data

Report On Business has posted year-end stock data for the Toronto Stock Exchange, New York Stock Exchange, Nasdaq Stock Market, TSX Venture Exchange, American Stock Exchange and

They might come in handy in your search for new investment ideas.