Where to buy USD?

If I need to buy USD, and I mean get USD into a bank account not speculate, what would people recommend as the best place to do it?

Volumes somewhere in the nature of $80 to $100 Thousand initially.

I am in Canada and I am not finding the spreads offered by the banks here are really all that great. I am hoping someone from the international audience here, or domestic for that matter, might have a better suggestion.

Thanks for any tips.

Open a multi currency forex account which supports currency conversion....

Trasnfer the money of your currency....

Convert to US dollars....

Wire the US dollars out to your bank account...

You have bought US dollars & just lost 2 transfer fees + the spread, not too much for a large sum like 80 - 100k...


Thanks,

Nader

I thought of that, but I don't know of any currency account providers that allow that. I know Oanda does not. Any suggestions?

Try emailing some brokers & ask them about this specific issue...


Thanks,

Nader

Try asking Interactive Brokers.

Interactive Brokers do have a currency conversion service, I have an account with them...But it's so lengthy & tiring to open an account with IB...Plus, the currency conversion process will be charged commissions...


Thanks,

Nader

Any bank will (should) give you a market quote usually at least 100 thousand or more. Just ask for it. Ask an American bank if your locals seem sleepy.

Or if your goal is to trade forex you could try to time it as you'll get good rate usdcad right now. Open cad account, convert to usd, trade with usd, convert back at profit later.