Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.2 V) d1 H) _, f; y. I; R/ K
Your second way is weird. Especially the charge $5/day, never heard of it. 4 g% |- F$ s3 s) L/ TUnless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)+ W, ^( f& Y7 [8 b h1 I
Which broker are u using?
i'm using questrade too. 3 E. @. q% N OI am sure there is no such $5 per transaction or per day fee, u may wanna check it again.: {3 S' {4 V, M- {& x' b C
' A7 N$ U7 C/ AI have both CAD and USD account when I open the questrade. - z$ c( ^! q, x; x3 m8 KI 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.: n3 @9 p3 V: _9 A2 P# _4 R$ s
8 W' O7 k" A1 D3 k5 jKeep in mind that transaction cost is in the same currency of stock u buy/sell.