Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. % ]; h( | X A8 j+ e6 m0 jYour second way is weird. Especially the charge $5/day, never heard of it. , Z3 ~5 b5 E& ~9 R' N" [Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)" J# b1 V0 z4 a R$ ^, V
Which broker are u using?
i'm using questrade too. 5 c2 Y2 k+ i9 r' vI am sure there is no such $5 per transaction or per day fee, u may wanna check it again./ Z' S" ]& R2 R8 g H
1 D' ~0 b+ p) b" mI have both CAD and USD account when I open the questrade.& d4 x# P5 S( j) g3 o
I trade US stocks a lot. What I do is to exchange enough USD at the first place, and trade directly in that US account. I don't think Questrade can do the 1st way u described, but i maybe wrong. ) i9 ?' c8 F" h W8 a5 S$ G5 y 1 s0 G4 Y7 ]2 NKeep in mind that transaction cost is in the same currency of stock u buy/sell.