Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. ; `& E [6 p" C. e, P3 q( D4 [Your second way is weird. Especially the charge $5/day, never heard of it. ; ?7 ~+ y0 p% m E) l5 }2 E6 V+ S
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)* x6 F7 `# U6 F
Which broker are u using?
i'm using questrade too.+ w$ ~ |, z! V4 w( w& E3 m+ g
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again.) S, u/ \% }* t; ~* w7 ~% {
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I have both CAD and USD account when I open the questrade. ' F0 c7 Y# m$ C. BI 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) M) ^$ m; M+ y' x& J7 _- S7 s4 a
Keep in mind that transaction cost is in the same currency of stock u buy/sell.