I'm not Adrian but I can answer this.RomaneeConti wrote:I called TDW today and they said I would have to wait 3 days for the journaling over of the securities from the Canadian to the US accounts.
Or if I don't want to wait, I could do the purchase online with them on the phone and they would do the sale at full commission and while the journaling would still take 3 days there would be little to no forex fluctuation, just bid/ask spread risk and the full commission.
Adrian2, please tell me how I can do it without a phone call and without waiting?
Use the shorting method to execute an instant gambit in the taxable TDW accounts. You need margin accounts approved for short selling. You have to call to complete the gambit, but the call is not time sensitive.
To exchange CAD to USD:
* sell the stock short in US Margin Short account (suffix "H")
* buy the stock in Canadian Margin account (suffix "E")
* call TDW to journal the stock from "E" to "H". This is not time sensitive.
To exchange USD to CAD:
* sell the stock short in Canadian Short account (suffix "G")
* buy the stock in US Margin account (suffix "F")
* call TDW to journal the stock from "F" to "G". Again, this is not time sensitive.