Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. ( |0 n' E7 U, ?1 @" Y% z& fYour second way is weird. Especially the charge $5/day, never heard of it. " M8 w4 j, u! OUnless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) 3 l* z2 j& u8 m8 c$ a. |2 @; e2 rWhich broker are u using?
i'm using questrade too. Q; b5 g+ p* ]7 @& f7 r+ N9 s4 eI am sure there is no such $5 per transaction or per day fee, u may wanna check it again.( k9 E+ C3 i6 z9 p( O: R
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I have both CAD and USD account when I open the questrade. ; a$ s2 G+ \5 y! v! j2 i& CI 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. ( t( @; C$ R0 k' h8 D m : w% s; M( k* b7 M1 |& A' A9 ^3 VKeep in mind that transaction cost is in the same currency of stock u buy/sell.