investing
Currency exchange fees for Questwealth Portfolios
November 03, 2018

There is a fee added to the exchange rate whenever you need to exchange currencies in your Questwealth account. The fee to exchange currency with Questwealth Portfolios is 100 basis points (which is about 1%) added to the market exchange rate.

How does it work?

When you don’t have enough U.S. Dollars required to purchase a U.S. ETF in your portfolio (or don’t have enough Canadian funds to purchase a Canadian ETF), we will convert currency on your behalf. The 100 basis points covers brokerage costs. We will convert funds to buy ETFs when necessary to maintain the proper allocation in the portfolio.

Let's use and an example:

If we’re buying an ETF for $100 USD and the CAD/USD market exchange rate is 1.30.

You take the exchange rate and add 100 basis points: 1.3000 + 0.0100 = 1.31

Therefore, to buy the ETF for $100 USD, you would need $131.00 CAD.

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Questrade Wealth Management Inc. (QWM) and Questrade, Inc. are wholly owned subsidiaries of Questrade Financial Group Inc. Questrade, Inc. is a registered investment dealer, a member of the Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF), the benefits of which are limited to the activities undertaken by Questrade, Inc. QWM is not a member of IIROC or the CIPF.