Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.& Y z9 {+ R8 ?. Q' |4 S5 `& D
Your second way is weird. Especially the charge $5/day, never heard of it. ( C- H6 f2 C' Y/ Q- `Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)0 p8 n0 t, N3 I0 _
Which broker are u using?
i'm using questrade too., _& k" ?4 h5 Z. A7 a
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again.+ \; o% G. S# d ?9 \, A
u4 v) F. B9 g. fI have both CAD and USD account when I open the questrade.3 V" z# t H" V; k5 m
I trade US stocks a lot. What I do is to exchange enough USD at the first place, and trade directly in that US account. I don't think Questrade can do the 1st way u described, but i maybe wrong.! h$ ?# ~" C7 o
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Keep in mind that transaction cost is in the same currency of stock u buy/sell.