Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate." u2 m. P7 n) r9 |6 `* F6 S7 n/ `
Your second way is weird. Especially the charge $5/day, never heard of it. * T: w, C5 L) P9 _: O4 Z
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)( h' ]2 b& x* g
Which broker are u using?
i'm using questrade too. - Z2 p0 L- m6 i2 T eI am sure there is no such $5 per transaction or per day fee, u may wanna check it again.& `3 M! z6 G, d6 N5 V- Z' e
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I have both CAD and USD account when I open the questrade. ( m; j6 t' g% u. ~+ e5 a8 L% wI 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. ; t! u3 V1 m: Z7 l; i0 n+ |& Z3 n% _- H
Keep in mind that transaction cost is in the same currency of stock u buy/sell.