IB: Exchange Rates

[TraderVJ 0]

Hi Team,

I am funding my Canadian IB account, and was wondering what would be a better option:

(a) convert CAD to USD at my bank and transfer the USD to my IB account, or 

(b) transfer CAD to IB and have them convert to USD.

Would anyone have knowledge/experience about which gives a better exchange.

Thanks and best regards

Edited January 10, 2021 by TraderVJ

[Abiel 475]

Hi, some IB Canada users have asked this question before, please review these forum threads:

https://forums.bearbulltraders.com/topic/131-how-to-deal-with-a-eurcad-account/?do=findComment&comment=685

https://forums.bearbulltraders.com/topic/1764-canadian-account-problem-cadusd-with-ibkr/

https://forums.bearbulltraders.com/topic/2361-questions-for-ib-canada-users/

 

[TraderVJ 0]

Thank you Abiel 👍 

I was curious whether IB Canada offers a better exchange rate than Canadian banks.