Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. O0 k2 t. K( W$ D
Your second way is weird. Especially the charge $5/day, never heard of it. ' r7 B1 V% b4 z
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)$ E$ D, t7 `( Z! a- u) u4 w
Which broker are u using?
i'm using questrade too.) a+ N2 H$ V. Y$ Z+ B
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again.! V% P1 P8 [ b+ y* M
- j# h5 E- \4 {" gI have both CAD and USD account when I open the questrade.% z+ ^( ?1 z: }" X
I 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. 7 S5 X# V {3 X: A) v, E. r! a+ m7 X& r3 I1 [
Keep in mind that transaction cost is in the same currency of stock u buy/sell.