Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.+ ~! E8 `& \9 r3 y: k
Your second way is weird. Especially the charge $5/day, never heard of it. ' |3 q- j" `3 d, f+ QUnless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)! X+ w8 R" u6 w3 J5 H8 b+ i
Which broker are u using?
i'm using questrade too.# k% b/ M" `6 A8 c" Q
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again.2 V+ J! ]- V4 d( _
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I have both CAD and USD account when I open the questrade.1 I9 _6 w! u0 s0 s
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.. x, q5 U4 a% ^6 @# Q5 {
* T9 E" J Z- i* m" R# z5 iKeep in mind that transaction cost is in the same currency of stock u buy/sell.