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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: sea_biscuit who wrote (60390)	5/6/2006 10:47:50 PM
From: RJA_	Read Replies (2) \| Respond to of 110194

>>So if I have to open a $10,000 CD in GBP/CAD/AusDollar or whatever, I have to pay 3/4% i.e. $75 in commissions? Yes, kinda sorta... Say you wanted to turn 10,000 US in to CAD. Say trade price was .904486 (price now per yahoo finance), Everbank would make the trade for you at .904486 + (.904486 x .0075) = (.904486 + .0067836) = .9112696 10000/.9112696 = 10973.70 Canadian dollars. Without their commission the yield would be 10000/.904486 = 11056 CAD So your cost is $83CAD. This is how it seems to work to me. Confirm with them before you trade. Same kind of cost when you convert back. Now, if you can do the conversion cheaper some where else, they will accept CAD deposits directly, and will make CAD payments directly (thats what they tell me)... There may be fees associated with cashiers checks, etc.