if you have a discount brokerage account, you can swap CAD for USD for basically no spread (just the commission on each side) using currency etfs on the TSX.
1. Buy DLR on the TSX (you are buying USD in CDN dollars). It is currently C$12.85.
2. Via your online brokerage account, swap the DLR to DLR.U (USD in USD). You can also call in to the trading desk and they will do this for you. If you call in they can do it to avoid settlement delays.
3. Sell DLR.U for settlement in USD. It’s currently US$10.05.
4. Transfer USD to your USD bank account
works in both directions if you want to get C$ cash after selling US$ stocks.
www.horizonsetfs.com