Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.. `, S: g) ~" h0 s7 P7 u
Your second way is weird. Especially the charge $5/day, never heard of it. 0 x' t4 ^1 O0 }) S% _
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)4 G: A+ Y" V! d9 T
Which broker are u using?
i'm using questrade too.4 K% X" h1 X. K' x4 h
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again.6 M6 b/ D5 |3 B) p; N* V- ?2 a6 ~
4 ?9 x1 {6 _) a# LI have both CAD and USD account when I open the questrade.3 t" K9 S2 b* P9 p! q9 S2 {6 l
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.0 a( X& A, [% g7 `
/ L' \8 o Q# z* HKeep in mind that transaction cost is in the same currency of stock u buy/sell.