Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.' v) [# O/ J7 o
Your second way is weird. Especially the charge $5/day, never heard of it. 0 N+ H$ @, q+ qUnless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) $ b: m8 s3 |8 Z3 W/ aWhich broker are u using?
i'm using questrade too.6 G7 e% r- y! r# `, k6 [
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again.$ }- o$ \" B* n3 e4 b
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I have both CAD and USD account when I open the questrade. : v9 P+ K3 U& V6 OI 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.: h* D( _/ E' [# d# |/ f' S
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Keep in mind that transaction cost is in the same currency of stock u buy/sell.