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.


Danny Merkel said...

Hi there,

I just came across your site through the comment you left on Canadian Point and Figure's blog.

It is always great to find another Canadian blogging about stocks.

I trade stocks, options, and forex through Questrade presently, so I can't help you out with your affiliate program, but I have signed up for the affiliate program my self, and I have added your ID.

Good luck,


White Eagle said...

Thanks Danny!