Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.6 E1 _. ?& ]- k. K& l
Your second way is weird. Especially the charge $5/day, never heard of it. 3 I. y9 J1 c) D. r0 CUnless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) 0 ~( P; b" M7 l4 K, V( |' C" p+ ?Which broker are u using?
i'm using questrade too.2 Z4 O1 I( ]* Y- H: B
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again. ' _' H2 {6 K9 H8 q3 o% a4 j0 n" N8 ]- g
I have both CAD and USD account when I open the questrade.5 R4 U5 G( a9 I: r5 ^0 _
I trade US stocks a lot. What I do is to exchange enough USD at the first place, and trade directly in that US account. I don't think Questrade can do the 1st way u described, but i maybe wrong. 1 C7 @8 C N) o o& T2 ~$ } b 0 w8 {3 P" c" E3 AKeep in mind that transaction cost is in the same currency of stock u buy/sell.