Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. 9 B' T6 _) g7 Q/ R7 }( \$ FYour second way is weird. Especially the charge $5/day, never heard of it. 6 T! e% Z* `6 r. l. kUnless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) - L! t. K' D; @9 WWhich broker are u using?
i'm using questrade too.3 X+ W* D4 @$ E9 n
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again., J: Q0 T3 g0 k; H
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I have both CAD and USD account when I open the questrade. " n9 a5 F# T% B5 ?# v+ _- cI 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.0 x' @. j* [- l7 {) \: S) V
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Keep in mind that transaction cost is in the same currency of stock u buy/sell.