CAN I INVEST IN USD IN FOREX MARKET ANS COLLECT PROFIT IN CDN? HOW MUCH IT WILL COST(CONVERSION)?

Will it be essential to modify by bank?

{ 3 comments }

kashmira January 31, 2011 at 4:30 am

Yes, depending on the pair’s trend. Pay close attention to the support levels and resistance as it hasn’t been doing a great job at holding these lately. However, any profit essentially depends on the margin and commission rates that are unique to your brokerage. For instance, you could be charged extra for short positions held overnight.

1 Canadian dollar = 0.982222 U.S. dollars

Jennifer Brown January 31, 2011 at 4:38 am

You can trade USD and collect the profit in CDN. It will cost you whatever your bank is charging as the exchange rate.

msc January 31, 2011 at 4:53 am

Forex brokers don’t normally convert cash from one currency to another. If you make a deposit in USD, you’ll get your profit in USD. But your bank can convert your cash for you.

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