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 l T- b; E0 V+ r7 aYour second way is weird. Especially the charge $5/day, never heard of it. % g4 Q+ z. b' J# R
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)% U+ L1 S2 l, ]5 H- f+ @. X
Which broker are u using?
i'm using questrade too. 5 Y# i' G; v- |4 |+ Y; V8 HI am sure there is no such $5 per transaction or per day fee, u may wanna check it again.% N- Z3 m. x! X* Y9 q
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I have both CAD and USD account when I open the questrade.& _7 p1 S- U/ F! w7 N8 x
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. ( ]0 o) A* n3 Q $ ?7 H0 ?- B5 c/ e, l6 nKeep in mind that transaction cost is in the same currency of stock u buy/sell.