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 r* b* \$ l8 N5 ?+ J* lYour second way is weird. Especially the charge $5/day, never heard of it. 3 v5 T! C: d8 e hUnless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) . c2 \1 ]( j6 j U0 gWhich broker are u using?
i'm using questrade too. # L6 U4 U) t4 F d& x9 }I am sure there is no such $5 per transaction or per day fee, u may wanna check it again.$ m% S: j% z* Z9 a
6 o0 h/ x# ^: J* ZI have both CAD and USD account when I open the questrade. ) ]* w2 e- S; ` P/ xI 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.$ L: Q1 Q5 I8 _& m! ^
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Keep in mind that transaction cost is in the same currency of stock u buy/sell.