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Foreign exchange (FX) conversion fees and pricing
Understand when foreign currency conversions may be required for your trades or cash deposits, and how spreads may be applied. Review pricing tiers and examples to help you estimate the total cost of your FX transaction.
If you make a trade involving a security which is denominated in a currency other than the currency of the account in which the trade is to settle (i.e. trade FX), or receive a payment to your account in a currency other than the currency of the account (i.e. cash FX), a conversion of currency may be required. In all such transactions and at any time a conversion of currency is made, TD Waterhouse Canada Inc., including its divisions (“we”, “us” or “our”), will act as principal with you in converting the currency at rates established or determined by us or parties related to us.
We and the parties related to us may earn revenue, in addition to the commission applicable to such a trade, based on the difference between the applicable bid and ask rates for the currency and the rate at which the rate is offset either internally, with a related third party, or in the market (a "spread"). Foreign currency conversion rates and the spread are subject to change without notice. The foreign currency conversion rate and the spread depend on a number of factors including market fluctuations, the amount, date and type of foreign currency transaction.
The spread we and our affiliates earn for transactions is described below, including the fees for issuer entitlements that you receive in your account (such as dividends and interest).
For cash FX
|
Gross Transaction Amount |
TD Wealth Financial Planning (FP) Currency Conversion Spread (%)A |
|---|---|
|
$0.00 - $9,999 |
0.91% |
|
$10.000 - $24,999 |
0.89% |
|
$25,000 - $59,999 |
0.54% |
|
$60,000 - $74,999 |
0.46% |
|
$75,000 - $99,999 |
0.40% |
|
$100,000 - $999,999.99 |
0.19% |
|
$1,000,000 plus |
0.11% |
A Calculated for demonstration purposes only and rounded to the nearest hundredth. TD uses basis points (bps) for foreign currency conversions. For reference, 100 bps is equal to 1%. The figures shown are based on the 2025 Bank of Canada annual average USD-CAD exchange rate of 1.3978.
For trade FX
|
Gross Transaction Amount |
TD Wealth Financial Planning (FP) Currency Conversion Spread (%)B |
|---|---|
|
$0.00 - $9,999 |
1.07% |
|
$10.000 - $24,999 |
0.97% |
|
$25,000 - $49,999 |
0.70% |
|
$50,000 - $59,999 |
0.70% |
|
$60,000 plus |
0.70% |
B Calculated for demonstration purposes only and rounded to the nearest hundredth. TD uses basis points (bps) for foreign currency conversions. For reference, 100 bps is equal to 1%. The figures shown are based on the 2025 Bank of Canada annual average USD-CAD exchange rate of 1.3978.
How FX spreads affect your transaction
The FP Currency Conversion Spread is applied on top of the foreign exchange rates obtained from our affiliates, which include a surcharge equal to one-third of the applicable FP Currency Conversion Spread.
- You decide to purchase $1,000 USD in a CAD-denominated account. The Gross Transaction Amount is $1,000 USD.
- In this example, the exchange rate obtained from our affiliates for converting CAD to USD is 1.3790.
- The FP Currency Conversion Spread, together with the surcharge, will be 170 bps [1.3978 * (0.91% * (1 + 33.33%)) = 0.0170], to be added to the exchange rate.
- The total foreign exchange rate applied to the transaction becomes 1.3960 [1.3790 + 0.0170].
- The total cost to you for this foreign currency conversion is, therefore, $1,396 CAD [$1,000 USD * 1.3960].
- You decide to purchase $75,000 USD of a USD-denominated security in a CAD-denominated account. The Gross Transaction Amount is $75,000 USD.
- In this example, the exchange rate obtained from our affiliates for converting CAD to USD is 1.3790.
- The FP Currency Conversion Spread, together with the surcharge, will be 130 bps [1.3978 * (0.70% * (1 + 33.33%)) = 0.0130], to be added to the exchange rate.
- The total foreign exchange rate applied to the transaction becomes 1.3920 [1.3790 + 0.0130].
- The total cost to you for this foreign currency conversion is, therefore, $104,400 CAD [$75,000 USD * 1.3920].