Quote:
Originally Posted by blankall
A major think to consider with online sales is the percentage points the money transfer companies take on your sales. They hide a lot of them in awful exchange rates too.
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If you're doing any meaningful volume of USD/CAD conversions, you should either get a foreign account (I use Interactive Brokers) or a regular brokerage account and do Norbert's Gambit. Basically buy an interlisted stock in one country and sell it in the other.
Currency exchange for way, way less. Because if your margins are only 15%, then giving up 2.5% for money transfer is 1/6 of your profit.