Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.. A/ q* f, c8 U" U. U
Your second way is weird. Especially the charge $5/day, never heard of it. ; J; a0 |& r/ ^8 {
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)( C- R0 i5 ?$ T) p4 h8 `# `* h% ^! l
Which broker are u using?
i'm using questrade too.3 R4 a' @1 t# B7 M! e1 w9 D
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again. . s o \( p/ ]' c- \7 ?6 ~ $ c% l4 m. |$ g" ZI have both CAD and USD account when I open the questrade.; G0 _. P2 y4 T0 A" g3 w" R
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. 0 k1 H1 [$ }6 F2 q , y: ~5 I3 A0 K8 J$ D" IKeep in mind that transaction cost is in the same currency of stock u buy/sell.