Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.- W# E5 a4 ^+ O
Your second way is weird. Especially the charge $5/day, never heard of it. - A5 B: W: A- ?( K4 b
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)$ ?0 `) l D* O; r
Which broker are u using?
i'm using questrade too.& d1 g0 U4 I; H+ M
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again. / c" B: L ~2 k- n6 S8 P9 q, q z( l+ s6 W
I have both CAD and USD account when I open the questrade." ^* P! v0 E4 h' {; ~9 Y
I trade US stocks a lot. What I do is to exchange enough USD at the first place, and trade directly in that US account. I don't think Questrade can do the 1st way u described, but i maybe wrong. & m5 x$ n- |) g' J6 b: S ' e2 N7 g* J+ f3 x. e# MKeep in mind that transaction cost is in the same currency of stock u buy/sell.