Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. 3 q" [+ P) L b3 R) e7 X- gYour second way is weird. Especially the charge $5/day, never heard of it. 9 A+ R F$ h) Y C+ y
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) 9 K: f; @, j d. x! @6 S9 E# FWhich broker are u using?
i'm using questrade too.* t) Y9 f( R' I$ j
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again., A6 X1 a3 {% D' J# y
8 y0 [' F7 f. y
I have both CAD and USD account when I open the questrade.9 u+ z$ V |: I. ?1 E: P2 q
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. q' [4 O6 N' z) l
+ @" H/ a8 ~1 `, i5 [# L+ @
Keep in mind that transaction cost is in the same currency of stock u buy/sell.