Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.5 q5 b/ L5 R1 Y5 }) o7 Q+ ^( f
Your second way is weird. Especially the charge $5/day, never heard of it. . C2 H( y9 ?4 K/ k9 @1 _ ^
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) 6 R. K/ D W) R* R8 d( s" {Which broker are u using?
i'm using questrade too. - o% E$ k; l) _2 y w* _/ _: |I am sure there is no such $5 per transaction or per day fee, u may wanna check it again. g0 U% B4 u' ~" Y/ | l* S( R5 @3 ?1 M3 |$ D# X* e
I have both CAD and USD account when I open the questrade. V' H8 `: g: W v7 v D: f( y7 K+ kI 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.% s& o* Y N/ }
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Keep in mind that transaction cost is in the same currency of stock u buy/sell.