Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate." N: J5 W! S+ w p6 w2 H) {
Your second way is weird. Especially the charge $5/day, never heard of it. + z$ e B6 G5 B9 v; n" W/ c i8 kUnless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) % Q" i% }9 v! |3 ^* i8 }Which broker are u using?
i'm using questrade too.( ]5 l ~8 f, k0 m p% y3 l: i
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again. - L' A- P2 k3 L% P5 b& k + U3 R a6 L8 @: c GI have both CAD and USD account when I open the questrade. ( M. i" ?2 y) }+ v- f2 U# JI 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. * @8 o: p- G7 ]( c3 D4 z# M u- y) F( k" U9 \
Keep in mind that transaction cost is in the same currency of stock u buy/sell.