Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.- F" j- e7 h e5 h/ a; a
Your second way is weird. Especially the charge $5/day, never heard of it. 4 w) R+ G* m5 w& p$ Z
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)! A- P( x, k, o w, w( y
Which broker are u using?
i'm using questrade too.: M. W& U; W; X
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again.9 }# D+ j. U1 l; c4 V4 d
( _6 g" s0 a6 dI have both CAD and USD account when I open the questrade. 4 m; @; E1 b0 r/ g" O- g0 ~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.: T5 l3 `5 P3 e
7 q# M, j# X- ]2 D
Keep in mind that transaction cost is in the same currency of stock u buy/sell.