Norbert's Gambit Calculator

MTLast reviewed June 2026 by Mike Taylor, Canadian financial writer. Fact-checked

Estimate what Norbert's Gambit would save you versus your broker's built-in conversion. Pick a direction and broker, enter the amount, and compare the effective rate, total cost, and break-even. All figures are estimates; check live prices and your broker's fees before trading. New here? Start with how Norbert's Gambit works or the step-by-step guide.

Norbert's Gambit Calculator

Estimate what you would save converting currency with Norbert's Gambit versus your broker's built-in conversion. All figures are estimates. Check live prices and your broker's fees before trading.

Amount to convert

Amount (CAD)

Your broker

DLR price (CAD)

Exchange rate (CAD per 1 USD)

Advanced: commissions, journaling fee, spreads

Commission per trade (CAD)

Journaling fee (CAD)

ETF bid-ask spread (%)

Broker built-in FX markup (%)

Method

Effective rate

Total cost

Norbert's Gambit

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Broker built-in conversion

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You keep approximately

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Estimate only. Commissions are treated in Canadian-dollar terms for simplicity, and the effective rate assumes DLR tracks the U.S. dollar closely. Your real result depends on live prices, the bid-ask spread at the moment you trade, and your broker's current fees. In a non-registered account, the buy and sell are taxable dispositions. See the tax page.