Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.; Y: K5 N( J" X0 {) c) b
Your second way is weird. Especially the charge $5/day, never heard of it. ) i) x0 B P+ x, w& Y5 m2 v3 H
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) % m6 z/ F5 q6 o2 f. A) `1 E8 u' j" `Which broker are u using?
i'm using questrade too.& e s) s8 P" h/ Y% ~
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again.! ~9 @1 |! W! ^( C8 p# w; j0 y7 w
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I have both CAD and USD account when I open the questrade. 2 t8 s+ _0 @7 o4 Y% `/ k' dI 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. 8 \3 I0 o# ^* f; ]0 I* D+ \" D) }8 v2 L" u; ?
Keep in mind that transaction cost is in the same currency of stock u buy/sell.