Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. 1 t# n) d1 D/ s ~Your second way is weird. Especially the charge $5/day, never heard of it. 4 \5 ?8 `7 e0 l" n5 x7 _Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)+ |/ K3 ^1 z4 t" a9 Z) q, x
Which broker are u using?
i'm using questrade too. 5 u( [% `' [$ PI am sure there is no such $5 per transaction or per day fee, u may wanna check it again.5 M/ V9 `( u& z
: T1 H/ |! r" U# F; EI have both CAD and USD account when I open the questrade. 6 X3 G; V! i5 b- T4 j& AI trade US stocks a lot. What I do is to exchange enough USD at the first place, and trade directly in that US account. I don't think Questrade can do the 1st way u described, but i maybe wrong. 2 J' Z' w" i, r' ^+ N( a; L4 ~" `1 U& Z) j
Keep in mind that transaction cost is in the same currency of stock u buy/sell.