Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.' c8 S9 H( v/ }) ~8 Y
Your second way is weird. Especially the charge $5/day, never heard of it. M0 ?3 Q* \! \& q8 g& GUnless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) t2 @ P- y. ^5 z: IWhich broker are u using?
i'm using questrade too.9 G7 Z8 y, P* U4 k* X4 u3 ~
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again.- i/ K) I5 ^& r9 Y& o' Z/ c& F% X: [
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I have both CAD and USD account when I open the questrade. 1 L7 D9 u* k+ E: f- Q1 fI 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 v2 t" X3 e6 l; V1 r8 f# |3 F2 S + K( W* P) O6 M9 s; v. x8 CKeep in mind that transaction cost is in the same currency of stock u buy/sell.