Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. ; [8 a, k& I/ Z9 e7 X }Your second way is weird. Especially the charge $5/day, never heard of it. Y$ E6 f; o* G+ @Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)2 @' A. V; z$ j g# A
Which broker are u using?
i'm using questrade too." l( g8 X" t3 n" d
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again.( o# z U1 h( f2 ? |. y
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I have both CAD and USD account when I open the questrade. ' _- o9 o/ ^* X/ Z+ s0 {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." e- N; L2 m0 t
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Keep in mind that transaction cost is in the same currency of stock u buy/sell.