- This topic has 1 reply, 2 voices, and was last updated 4 months, 1 week ago by
.
- Posts
Hi guys, I’m new to the site. I would like to try some of these strategies but the main roadblock I see is that all strategies use USD for trading. I’m in Canada and usually just trade in CAD. I know there are some similar index-tracking ETFs on the TSX, but they don’t always have the same performance and liquidity. My question is, which is the best option:
1. Should I convert CAD to USD? (Does it make sense to do this considering the USD has been strong and the CAD weak recently?)
2. Should I just use the similar TSX ETFs to avoid conversion?
3. Is there a better solution?There is no way avoiding currency risk if you buy USD nominated stocks. Some brokers offer CFD’s (contract for difference), however you can as well just change your CAD to USD or just borrow the US dollar if you have a margin account. But whatever you do, you always have to pay the difference in interest rates of the two currencies.
Regards, Frank
- You must be logged in to reply to this topic.