According to the company, these trades will continue to settle in Canadian dollars but an additional retail foreign exchange markup or ‘spread’ will not be charged.
For a flat-fee of $30 per calendar quarter, the US Friendly-RRSP: offers no additional retail foreign exchange mark up or ‘spread’ on trades of US securities; allows clients to continue to trade in their Canadian dollar registered accounts; and is available for all registered accounts including RESPs and TFSAs.
Scotiabank managing director for online brokerage Bob Grant said for customers with trading strategies that include US securities in their registered accounts, they now can trade without the retail foreign exchange markup.
"For customers not interested in this type of trading, we will continue to offer our No Annual Fee No Minimum RRSP," Grant said.
