Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. - w$ M! c& F1 D( z# z7 x* YYour second way is weird. Especially the charge $5/day, never heard of it. 8 G; \5 r7 O! g* Z! B; v$ @Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)1 o' b' x- A( e
Which broker are u using?
i'm using questrade too. 8 J' C3 U, q0 {* EI am sure there is no such $5 per transaction or per day fee, u may wanna check it again. 0 M0 Y" I0 q6 K. P) g: v$ k0 E: E* J- U
I have both CAD and USD account when I open the questrade. 6 d! u! m) S- X) y5 l9 RI 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. 9 }" m. \; T7 g. z - e5 [! _- }" @; Z4 Q6 ?8 uKeep in mind that transaction cost is in the same currency of stock u buy/sell.