Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.1 O- ^8 Q* f k2 N/ M
Your second way is weird. Especially the charge $5/day, never heard of it. 9 g+ `& @8 K) z+ p* X( P5 G# [Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) & E7 Q# Y3 f, I* F' D; w- nWhich broker are u using?
i'm using questrade too.- Y8 k$ K& v* [# t7 b
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again.. J( {- ~9 T) b
* `2 E3 K1 `3 Q( PI have both CAD and USD account when I open the questrade. 4 w/ t# Q: U6 I- `* lI 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. 6 Z; R8 s7 _) u: P& A6 B0 n3 D; {# a6 ]+ z7 _- K
Keep in mind that transaction cost is in the same currency of stock u buy/sell.