Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. ( y9 Q. J- |; K! Y* ]$ MYour second way is weird. Especially the charge $5/day, never heard of it. 2 ~+ n: f% g/ y
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)7 z6 T6 F. |& F, S) H7 `/ o
Which broker are u using?
i'm using questrade too.3 e0 W+ t0 v- u% C+ Q6 {
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again. 3 j2 F9 B2 {4 Q$ _* a2 f0 k * w3 U% _) H. H& EI have both CAD and USD account when I open the questrade. 0 j: R- L9 f8 S$ ^$ P9 W. F/ Z! ]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+ M l* P4 N6 x4 S& p1 |4 ?9 O% y, |( Z8 b
Keep in mind that transaction cost is in the same currency of stock u buy/sell.