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+--- Thread: [Stocks] CAD -> USD Stock Problem (/showthread.php?tid=5496672)
CAD -> USD Stock Problem - Evil Bob - Dec 17, 2016
So basically I wanted to get into stocks but the problem is the currency exchange fee. I could invest in solely Canadian stocks but there isn't as much of a variety there.
So problem is I'd have to convert CAD to USD, then if I wanted to sell those stocks I'd have to eventually covert the USD back to CAD. Both ways I'd get charged with at least 3% fees, so 6% total. The Canadian dollar also fluctuates very frequently so if the Canadian dollar is strong when I trade in USD for CAD, I'd lose even more.
All this makes investing in the US market very unappealing considering I'd have to come up with a very high return to go positive.
Any suggestions of what to do? Should I just stick to Canadian stocks?
* - Stevensan - Dec 17, 2016
I prefer U.S. stocks. It is just my opinion. If the U.S. stocks perform better then Canadian stocks, then you should invest in U.S. stocks. It does not matter if the fees are higher.
* - minimalist - Dec 17, 2016
(Dec 17, 2016 04:11 PM)Stevensan Wrote: I prefer U.S. stocks. It is just my opinion. If the U.S. stocks perform better then Canadian stocks, then you should invest in U.S. stocks. It does not matter if the fees are higher.
Keep in mind that you'd also be betting for/against the Canadian economy with every trade.
* - trixed - Dec 18, 2016
Id just stick to canadian stocks. There may not be much variety but its better than losing money just because of your currency. Any money you make you should get back 100%
* - xGuardian - Dec 19, 2016
Do you have to convert them back to CAD after selling the stock? Or can you maintain the USD? Not sure how that works as far as keeping USD in Canada.
But losing 6% off the top due to exchange rates I'd recommend just investing into Canadian stocks, or consult some professional help.