Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. 0 K' K2 T3 u% X$ Q0 J( x0 p- RYour second way is weird. Especially the charge $5/day, never heard of it. $ }( o& B" @3 O
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) ) o1 u* M7 p0 M& `9 I3 M0 QWhich broker are u using?
i'm using questrade too. ; N" e W/ P" YI am sure there is no such $5 per transaction or per day fee, u may wanna check it again. + y# i" o ^/ x ] : y) `2 \, {$ J% EI have both CAD and USD account when I open the questrade. " ]+ G: o/ Y1 H' _$ g+ DI 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.& ]+ w# T7 F6 i6 w/ X
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Keep in mind that transaction cost is in the same currency of stock u buy/sell.