Norbert's Gambit at BMO InvestorLine | DIY Investing with Justin Bender

  Рет қаралды 19,099

DIY Index Investing with Justin Bender

DIY Index Investing with Justin Bender

Күн бұрын

Пікірлер
@mahendratailor1856
@mahendratailor1856 4 жыл бұрын
Is it possible to do Norbert's Gambit at Interactive Brokers platform? Avatar image 0:07 / 3:10 Norbert's Gambit
@Helix5370
@Helix5370 Жыл бұрын
Any chance for an updated video? BMO investorline has been upgraded to 2.0. Will this process still work?
@JustinBenderCPM
@JustinBenderCPM Жыл бұрын
@brian4137 - No plans to create an updated video - the overall concepts are still the same though. Test it out with a smaller amount and see how it goes.
@basil4072
@basil4072 11 ай бұрын
Still a go to video after all these years … thanks 😊
@DonSmith-v2t
@DonSmith-v2t 5 ай бұрын
Thank you for this video. The website has changed but the instructions are still applicable.
@gordonchui6634
@gordonchui6634 4 жыл бұрын
Can I journal over the DLR to DLR.U for free in BMO?
@JustinBenderCPM
@JustinBenderCPM 4 жыл бұрын
@Chui Gordon - There is no charge for this at BMO IL.
@prissyh4886
@prissyh4886 3 жыл бұрын
Hi Justin. I want to do the other way, US$ to CAD. But seems that the system does not accept DLR.U. Any advise. thanks
@JustinBenderCPM
@JustinBenderCPM 3 жыл бұрын
@Prissy H - You need to call BMO InvestorLine in order to purchase DLR.U
@XxSuperStreetxX
@XxSuperStreetxX 4 жыл бұрын
@Justin Bender, does this work the same for TFSA on BMO IL? Do I tell the trader to limit order sell DLR.U at the current bid price on the "us dollar side of my TFSA account"? Or do i tell them to settle the trade in USD? Thanks!
@JustinBenderCPM
@JustinBenderCPM 4 жыл бұрын
@XxSuperStreetxX - It works in a TFSA as well. You can just explain to the trader what you're doing - you can mention both points you stated above.
@XxSuperStreetxX
@XxSuperStreetxX 4 жыл бұрын
@@JustinBenderCPM Thanks for the quick reply! I am still on hold waiting for a trader haha. Probably won't get in before the TSX closes.
@H1Hummer
@H1Hummer Жыл бұрын
I see that this video is about 5 years old and wondering if they have updated it like some other banks so a phone call is not required.
@alonsorhee1396
@alonsorhee1396 2 ай бұрын
This works. Thanks. Just saying doing Norbert's Gambit and the BMO trader understands and is helpful.
@vincentdemers721
@vincentdemers721 3 ай бұрын
Is it the same way for tfsa in 2024?
@elegantsimplicity5811
@elegantsimplicity5811 3 ай бұрын
I'm not clear about what to say to the trader - shouldn't I ask him/her to journal DLR:CA to DLR.U:CA and then do a sell with a limit on my own ? why should I ask him to sell it for me?
@baselelaghoury2994
@baselelaghoury2994 4 жыл бұрын
Hi Justin, I was wondering what the impacts would be if I did NG in my TFSA? Also, must I call BMO Investorline only after the trade has settled, or right after I place the order? Thanks!
@jointez
@jointez 4 жыл бұрын
so because of the 9.95 CAD fees and 9.95 USD fee for commission. this isn't worth it unless you're converting atleast 2.100 $
@HookiewinkTwice
@HookiewinkTwice 4 жыл бұрын
That would be my understanding as well.
@wyho007
@wyho007 6 жыл бұрын
Does it work the same way for exchanging USD to CAD at BMOIL, by just buying DLR.U and selling DLR? Thanks!
@JustinBenderCPM
@JustinBenderCPM 6 жыл бұрын
@W Ho: Yes, but you have to call a BMO rep and ask them to purchase DLR.U for you (you can then sell DLR, or have the BMO rep sell it for you).
@wyho007
@wyho007 6 жыл бұрын
@@JustinBenderCPM Why do I need to go through a rep to buy DLR.U but not needed for DLR?
@gregs_garage
@gregs_garage 3 жыл бұрын
@@JustinBenderCPM Is this still true that you have to phone a trader? I thought it is now automatically "journaled" over to the opposite currency when you place the trade online.? Can anyone confirm?
@Steph-mc7os
@Steph-mc7os 2 жыл бұрын
@@JustinBenderCPM I called to purchase DLR.U and on the same phone call asked them to sell DLR. Since my order was small they filled it right away. They said that selling DLR on the phone will cost 43 dollar commission whereas selling it myself online it will be 9.95 commission. Justin, I have a question for you: When I call to purchase DLR.U, do I have to also ask them to journal it to DLR before selling it on my own online?
@ttl5842
@ttl5842 4 жыл бұрын
Hi, Thank you for sharing, one question on that How Norbert's Gambit tax ?cuz we buy ETF and sell ETF in almost one day, how to calculate the Capital gain between such short two transactions in an non-registered account or margin account? by the way Happy new year !
@JustinBenderCPM
@JustinBenderCPM 4 жыл бұрын
@TT L - Happy New Year! Here is a blog on how to calculate the capital gain or loss on the sale of DLR or DLR.U in a taxable account: canadiancouchpotato.com/2015/02/26/taxable-consequences-of-norberts-gambit/
@ttl5842
@ttl5842 4 жыл бұрын
@@JustinBenderCPM Thanx a lot !
@ashokmariappan6377
@ashokmariappan6377 4 жыл бұрын
Hi Justin. Thanks for sharing this. Can we trade US options with the funds or only ETF is possible?
@ethanpurdy91
@ethanpurdy91 7 жыл бұрын
Hi Justin! Can you do a Norbert's Gambit for TD Direct Investing? Do I need to wait for the trade to settle before selling DLR.U?
@JustinBenderCPM
@JustinBenderCPM 7 жыл бұрын
@Ethan Purdy: My next video with be this exact topic :) Basically, you have to buy DLR in your Canadian dollar RRSP, wait T+3 (trade date plus three business days) for the trade to settle, and then call TD and ask them to transfer all shares of DLR to the US dollar side of the RRSP account. Once this has been completed (mine was processed same day, but it may take another day), your can sell the same number of shares of DLR.U in your US dollar RRSP account
@ethanpurdy91
@ethanpurdy91 7 жыл бұрын
Thanks for the very quick response! This seems quite clear. It's a shame the whole process can take so long (seems like 3 days on both sides of the trade + 1 day to move over the shares). The market could move a fair bit in that time. Do you have any advice on trying to minimize the risk associated with this? Thanks again!!
@JustinBenderCPM
@JustinBenderCPM 7 жыл бұрын
@Ethan Purdy: I would recommend using RBC Direct Investing if you are going to be placing a lot of these types of trades - you can place the DLR/DLR.U trades + your US-listed ETF purchases on the same day.
@lucien5894
@lucien5894 3 жыл бұрын
such an awesome tutorial - thanks for doing this for us canadians :)
@JustinBenderCPM
@JustinBenderCPM 3 жыл бұрын
@Lucien Lu - Glad you liked it :)
@FXMV2012
@FXMV2012 7 жыл бұрын
Hi Justin, thanks for the video, I have account with BMO investorline, just wondering if I do Norbert's Gambit in BMO investorline, will I have to wait T+2 (BMO new settlement time) for the risk of FX going up and down? My understanding is no, I do not have that risk as long as the trade can sell DLR-U at the similar time, correct?
@JustinBenderCPM
@JustinBenderCPM 7 жыл бұрын
@FXMV2012: The T+2 settlement cycle starts on September 5, 2017 (so we're still on the T+3 settlement cycle until then). Once you buy DLR (which holds US dollars) you are exposed to the US dollar currency instead of Canadian (even though DLR trades in Canadian dollars). When you sell DLR.U, you are really just turning a security that already holds US dollars into actual US dollar cash in your brokerage account (so this second trade doesn't change your exposure).
@FXMV2012
@FXMV2012 7 жыл бұрын
Got it, thanks again Justin
@mohitcanada
@mohitcanada 5 жыл бұрын
Hello Justin does BMO investor line charge 9.95 dollar for each of these transactions for norbert s gambit ?
@kevinzhang9384
@kevinzhang9384 4 жыл бұрын
Yes, 9.95CAD + 9.95USD
@mohitcanada
@mohitcanada 4 жыл бұрын
@@kevinzhang9384 thanks
@johnterhorst4717
@johnterhorst4717 4 жыл бұрын
so if i want to go from usd to cad i buy DLR.U then call them up and sell DLR?
@georgeemil3618
@georgeemil3618 3 жыл бұрын
Why can't you sell DLR.U the same way you bought DLR? Telephoning BMO these days will put you on hold for an hour.
@JustinBenderCPM
@JustinBenderCPM 3 жыл бұрын
@George Emil - You would have to call BMO to inquire.
@justinchen6218
@justinchen6218 4 жыл бұрын
is this still working?
@JustinBenderCPM
@JustinBenderCPM 4 жыл бұрын
@justin chen - as far as I know, it should still be working.
@Joe-mz6dc
@Joe-mz6dc 6 жыл бұрын
This is beautiful. Thanks Justin.
@JustinBenderCPM
@JustinBenderCPM 6 жыл бұрын
@Joe: You're very welcome!
@jointez
@jointez 3 жыл бұрын
they changed it. you get charged 35$ for calling an agent.
@jonathanhendy819
@jonathanhendy819 3 жыл бұрын
Not for me. It was the base $9.95. I guess I lucked out?
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