Not anymore. It’s fairly standard for Canadian brokerage accounts to have a US$ and CAD$ side.
You do have to 'journal' the holdings between them for my broker. This is now possible online, but used to require a phone call.
The big gotcha with this method (depending on your account and broker) is that you might need to wait for your 'buy' to settle (2 biz days I think?) before journalling, so you face some market risk).
You do have to 'journal' the holdings between them for my broker. This is now possible online, but used to require a phone call.
The big gotcha with this method (depending on your account and broker) is that you might need to wait for your 'buy' to settle (2 biz days I think?) before journalling, so you face some market risk).
The procedure is somewhat formalized: https://www.finiki.org/wiki/Norbert%27s_gambit