Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.- P1 n! g0 `6 U2 m
Your second way is weird. Especially the charge $5/day, never heard of it. 4 K4 m l- H6 |Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)/ V6 Z7 V1 J1 g8 O/ X3 v# E
Which broker are u using?
i'm using questrade too. & B/ {# s% u: w' [I am sure there is no such $5 per transaction or per day fee, u may wanna check it again.# Q4 Q+ \# N3 M- {0 J! E, Q& X1 p% A
) X( K% P4 ~& l1 p- j* dI have both CAD and USD account when I open the questrade.: j) s1 a$ }* J' w% a) ~1 e
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.8 }( F+ m4 p$ K6 `7 I2 f
5 h+ Q* q8 Z3 T6 b- g; ~' O" [5 EKeep in mind that transaction cost is in the same currency of stock u buy/sell.