Hello
Here is a rookie question
I'm a Canadian citizen. I want to open an account with a foreign broker. Broker will accept only account in USD$ or EURO
Now, let say that i open an account in USD and the USDCAD value change over time, i may lost even if my account show a gain since i can only spend Canadian dollars and my gain/lost is in USD.
So my question is, how do i protect my Canadian$ value again fluctuation? Do i issue a USDCAD order for all transaction that i will do?
Hope I'm clear ennough. Excuse my English, I'm more fluent in French.
Martin
Here is a rookie question
I'm a Canadian citizen. I want to open an account with a foreign broker. Broker will accept only account in USD$ or EURO
Now, let say that i open an account in USD and the USDCAD value change over time, i may lost even if my account show a gain since i can only spend Canadian dollars and my gain/lost is in USD.
So my question is, how do i protect my Canadian$ value again fluctuation? Do i issue a USDCAD order for all transaction that i will do?
Hope I'm clear ennough. Excuse my English, I'm more fluent in French.
Martin