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' m" g
Your second way is weird. Especially the charge $5/day, never heard of it. 3 @4 }; Z! V) B& e2 Z4 [# i: t: v5 |8 RUnless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)0 u Q2 W1 b. t
Which broker are u using?
i'm using questrade too.& p; q# r& @5 b7 j1 }. k
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again. 6 `6 t. W" k$ j+ [) V+ e' C; g4 Z7 h3 w: u1 r" `" V/ L
I have both CAD and USD account when I open the questrade. ( L! O5 o. N$ v" s& K, ]$ ]8 y- ZI 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.5 R; D/ ?# E X6 h% L/ p
& ~9 u+ [8 ~' G* \; Z# HKeep in mind that transaction cost is in the same currency of stock u buy/sell.