Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. 2 Y5 ~+ E2 U8 M3 a% L3 UYour second way is weird. Especially the charge $5/day, never heard of it. " o8 E) M: d8 N
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) & Z- m. @% B, S7 m4 M& VWhich broker are u using?
i'm using questrade too.+ m/ w' P6 Y# u0 @" B7 Q Y
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again. / O# ]8 r8 T! a; s% L/ L2 ~7 J: u' p8 o/ B3 b
I have both CAD and USD account when I open the questrade. , b6 u- J# I2 b8 C9 L" eI trade US stocks a lot. What I do is to exchange enough USD at the first place, and trade directly in that US account. I don't think Questrade can do the 1st way u described, but i maybe wrong.* z7 o0 W( Y1 V$ ^! X
+ x4 ~7 e8 u* sKeep in mind that transaction cost is in the same currency of stock u buy/sell.