Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.4 K: y4 q' |) H; z9 c2 C! n6 j7 W
Your second way is weird. Especially the charge $5/day, never heard of it. % ]0 q3 z8 E5 W/ D! v C
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way), v: F% U1 Z! L+ Z
Which broker are u using?
i'm using questrade too.! y( o2 i; y# \+ M
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again.. r8 E! O8 B# D5 I3 S6 A' l: s. H
7 y+ c3 o# P, ^: w6 ^) z( n- V. ?I have both CAD and USD account when I open the questrade.& s9 Y. u) `9 r* f
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.( M* o2 t2 ?! n% x% F: i% q
2 M: P. ?5 Z) MKeep in mind that transaction cost is in the same currency of stock u buy/sell.