Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. ) K- G% n8 ~2 f$ i$ BYour second way is weird. Especially the charge $5/day, never heard of it. . ~* _+ u$ Q; q$ Z/ I) t
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way). h% {4 |" H' x1 }6 R* o7 ]% C+ Q% B
Which broker are u using?
i'm using questrade too. 4 n0 H" p( O; f% j! II am sure there is no such $5 per transaction or per day fee, u may wanna check it again.& Q' L! c" z! O& r! O" F
) o# y. J) q. ^, A+ l) D# jI have both CAD and USD account when I open the questrade.; @" o7 Q: }. f0 h
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. 9 n4 W) \2 v# P" g/ i+ ]( o# o) w2 P/ {- f
Keep in mind that transaction cost is in the same currency of stock u buy/sell.