No. of Recommendations: 1
DTB
Why did you not use the gambit for your mother's transaction? And, if I may ask, have you ever done this gambit with td direct?
I did, with TD Direct Investing. I gave the example to show how terrible a standard broker’s exchange rates would be, if you didn’t have some way of getting your exchange done in some other way.
I don’t know if Norbert’s Gambit would work in other countries; I suppose it is conditional on having some security that trades in 2 countries that use the denominations you are interested in, and having a broker that supports trading in those two markets, and offering free transfers between accounts. Canada has all 3, but it may be unique. Does anyone know of an equivalent trade in other countries (euros to dollars, for example)?
