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This is good news. I'm with TDDI and have been wishing for $US registered accounts.

For those that already have $US trading in RRSP, can anyone tell me if there are any restrictions on making contributions in $US? I have a good deal of $US already on hand, and I would like to use some of it for my RRSP contribution this year. I'd kind-of assumed I would be buying something and contributing it in-kind, but just sticking the money in there would be convenient.
 

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you are speaking about the TD cash & margin accounts? yes, of course it's always been possible to sell the sell side in an instant gambit trade. By phoning a live representative.
My point being -- is there any reason to believe that the rules would be any different for a registered account pair? As several others have mentioned, they generally do not charge full commission for Gambit trades. It's not a perfect solution because the exact commission is a hit-or-miss proposition, and they sometimes seem to balk at the whole transaction, depending on who answers.
 

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i have a certain sympathy for the broker here because the big green does have to process the phoned order & they do have to wire the credit department to alert them that the trade - which otherwise looks like a naked short to the backside of the website
I don't. It's their trading app. They could fix it instead of hiring brokers to implement the workaround.

They could also just offer decent FX rates. If they only took 50 bps I would probably just use their FX facility.
 

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the cure is to journal the stocks to US account. Client has to phone.
Is there a regulatory requirement that this has to be hard to do? That TDDI can't provide a journal function right there in the U/I?

I'm not arguing that simplifying FX handling is, or even ought to be, a priority for TD -- only that I have no sympathy for the trouble I might put them to, to do it the way they have chosen for themselves. If they find it expensive or inconvenient to service arbitrage transactions, they know how to fix it. As you say, and I agree, they prefer to pocket money from the userous FX spreads and so you have to pay careful attention.
 

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So, I got my new $US RSP and TFSA a few days ago. I worked out my RSP contribution room and phoned up to move some cash. They wanted the money to be in TDB8152 which I had enough of. I had understood that they would issue the tax receipt at the spot rate -- 1.1955 when I called them. But they said they had to use the buy-rate for the RRSP which would be 1.2130. If was actually trading currency at that rate I would be outraged. But as it is I am still trying to decide how I feel about it.

On the one hand the high exchange rate has reduced the amount of my actual contribution, limiting how much I have in there. So I feel cheated a bit.

On the other hand, it will artificially inflate the size of the tax receipt compared to how much actual money I put in. So I will get a bonus on my taxed income.
 

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Incidentally, they asked "how do I feel about the service of TDDI" -- I mentioned to the trader that I was annoyed at always having to call them to do routine journaling of stuff between accounts and wished I could do that online. He told me that this precise feature was in the works and would be available "soon" for some unspecified value of "soon".
 
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