Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. ( v0 w, R6 o. QYour second way is weird. Especially the charge $5/day, never heard of it. 5 S+ Y# l9 M1 g- u( ^# LUnless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) " Z; G5 Z. f8 PWhich broker are u using?
i'm using questrade too.* L' P0 S$ b1 Q. k1 E5 I$ b
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again. 9 [0 N/ D* t/ p7 Q2 Z8 \! r3 C3 A" a1 L- V) j; n: I& U) d5 J2 F
I have both CAD and USD account when I open the questrade. / B( K# s* y5 T; m& RI trade US stocks a lot. What I do is to exchange enough USD at the first place, and trade directly in that US account. I don't think Questrade can do the 1st way u described, but i maybe wrong. - ~7 }% ]* r' q8 l1 H) n( T* \/ D" O4 }3 g4 s$ o
Keep in mind that transaction cost is in the same currency of stock u buy/sell.