20ppy Posted January 12, 2010 Share Posted January 12, 2010 Hello, I understand some of you have done the so called "North Bound Transfer Request" with InteractiveBrokers. I called them and found out that they can only do the transfer into FFH.TO, but not FFH-U.TO. Is this the case? If so, what are the implications if any to use FFH.TO in terms of dollar conversions? What I worry about is that I have to do dollar conversions back and forth. I would appreciate your comments. Thanks Link to comment Share on other sites More sharing options...
watsa_is_a_randian_hero Posted January 12, 2010 Share Posted January 12, 2010 I wouldn't worry about that. I transferred mine to FFH.TO. No initial currency impact (you own shares, not a currency). If I go to sell, I will received CAD. In that case IB has some of the tightest FX spreads Link to comment Share on other sites More sharing options...
20ppy Posted January 12, 2010 Author Share Posted January 12, 2010 Thank you for your comment hero. OK, At the time of sale, I will receive CAD dollars, which can be higher or lower depending on the exchange rate at the time. Or, I convert FFH.TO back to FRFHF.PK at $11 cost and then sel it. That way, I will not need to receive CAD dollars, I will get US dollars directly. So basically, we will still have a choice at the time of sale. Additionally, there seems to be a desirable side effect in all of these: I will be able to keep the value constant regardless of the exchange rate of Cad/US dollars and come out with a free choice that can be favorable to my currency. Darn cool. 20ppy Link to comment Share on other sites More sharing options...
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