Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.1 m2 z1 u# W: m- P8 ]; g/ d
Your second way is weird. Especially the charge $5/day, never heard of it. + J$ f9 @" k9 E6 R* [6 M' ^
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) # e; d% R# p' M4 n- h: ]Which broker are u using?
i'm using questrade too. * x; m3 b7 c$ K, `- d4 uI am sure there is no such $5 per transaction or per day fee, u may wanna check it again.7 p% I0 }8 L8 c
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I have both CAD and USD account when I open the questrade. ' b4 M( f6 @+ Z) q& K. }& AI 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. 8 |7 U8 B- w" t2 H& I9 }7 r) }) T* i
Keep in mind that transaction cost is in the same currency of stock u buy/sell.