Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. # H6 O4 Z' @3 p$ m4 XYour second way is weird. Especially the charge $5/day, never heard of it. 3 v! i8 |/ G$ t
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) 4 T- L8 z5 B+ B ^7 sWhich broker are u using?
i'm using questrade too. # c- D& r4 L9 G. G0 Z: |& OI am sure there is no such $5 per transaction or per day fee, u may wanna check it again.: {! j( D/ k( a6 W
8 s3 h% h7 u3 k Z7 f# wI have both CAD and USD account when I open the questrade.. B. v* [# V% ]+ G
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. $ D0 [2 E T$ D/ e 8 a( w7 I# d9 ?$ y& kKeep in mind that transaction cost is in the same currency of stock u buy/sell.