Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.* c! h. `- C# `
Your second way is weird. Especially the charge $5/day, never heard of it. ; w H* K0 o% @) `( y6 n
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) 4 n! n( g/ p0 CWhich broker are u using?
i'm using questrade too.+ X2 Z X9 r. S4 {/ x4 y/ z
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again.3 l% h5 y+ v% `2 k2 I5 w* z7 c6 r
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I have both CAD and USD account when I open the questrade. . ~! d7 {& U# N6 ^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 Y0 M9 h: h1 z: q" z" R' ?: q7 Q
Keep in mind that transaction cost is in the same currency of stock u buy/sell.