Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate./ z. n q3 x9 m* ?4 w0 o# E: S
Your second way is weird. Especially the charge $5/day, never heard of it. # O3 K0 \1 C* u- CUnless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)4 I4 n" w' i' x. f5 h9 V7 m
Which broker are u using?
i'm using questrade too.( o: m" L1 [5 D; C/ f
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again.7 O) B8 N' u. D/ X0 o" D
$ `# M; j0 s' l. gI have both CAD and USD account when I open the questrade.: ~$ e. D/ F4 ~! H- A
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. 3 {6 e% I+ n1 X" p 5 } u$ h/ t( B* B, |Keep in mind that transaction cost is in the same currency of stock u buy/sell.