Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.2 x6 x! e( W( g( t& Q+ R, `
Your second way is weird. Especially the charge $5/day, never heard of it. " M; Y- m: C4 OUnless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) ' q" y2 ?1 p; s/ k' R& |$ h bWhich broker are u using?
i'm using questrade too. " U9 S# b+ a" R' [0 t( P: f7 x3 wI am sure there is no such $5 per transaction or per day fee, u may wanna check it again.* k7 n8 B) Z; A7 F$ }) c! I- x; K
9 n0 {6 V/ _; II have both CAD and USD account when I open the questrade. 1 u) z" U( g' @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.) o( _6 q+ h: ]9 U& F$ F
5 H9 O3 z! U& @, e9 v+ Q3 U* EKeep in mind that transaction cost is in the same currency of stock u buy/sell.