Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.; g+ s" _5 ~; Y7 A; b+ g6 r
Your second way is weird. Especially the charge $5/day, never heard of it. 8 U3 p& }/ a t( Y( A1 O2 O
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) 9 D( ?+ p# ^5 J- [3 ~Which broker are u using?
i'm using questrade too. + \- |: T0 `5 m/ X8 H0 ] s& VI am sure there is no such $5 per transaction or per day fee, u may wanna check it again. 6 t1 l4 n: I$ I) J7 ~" C% S ; ?1 ?2 j' ?- X+ T8 GI have both CAD and USD account when I open the questrade. : T- i- Q9 {( N7 yI 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.; n. L7 `) d4 w/ e* u
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Keep in mind that transaction cost is in the same currency of stock u buy/sell.