Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.: K/ ]+ n+ m$ y) R! m3 E
Your second way is weird. Especially the charge $5/day, never heard of it. 4 Z8 `5 J, z; n7 ^' N
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) 3 ?6 x' p9 J* P: U4 \1 AWhich broker are u using?
i'm using questrade too. * Z2 n! k! _7 { ^I am sure there is no such $5 per transaction or per day fee, u may wanna check it again. i! M1 V' K0 o$ e7 V! ^: P6 b8 ^9 N1 i+ A/ B+ w+ v4 o
I have both CAD and USD account when I open the questrade. 8 b9 y2 u% B/ D" V! z9 w' f: MI 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.9 B8 ^4 t8 ]: i, l
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Keep in mind that transaction cost is in the same currency of stock u buy/sell.