Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. 2 X# r, p1 Q: m# Z, j$ }Your second way is weird. Especially the charge $5/day, never heard of it. 0 f/ m/ W- a" p4 D. R: {) C8 Z% A
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) + y& E: d) N7 D1 O- L; ^7 yWhich broker are u using?
i'm using questrade too. ; B* f" C% M- U8 eI am sure there is no such $5 per transaction or per day fee, u may wanna check it again.- i$ o( q: [$ n' z% j( o& u& L
d) O4 R8 j: Y \) r, p- bI have both CAD and USD account when I open the questrade.7 r( i$ j k2 n1 D' c- p
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. 9 N" ?' M0 T% g- t; K7 H: i X6 I$ j& H0 _7 }: D; ?5 A3 ?( p
Keep in mind that transaction cost is in the same currency of stock u buy/sell.