Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. 9 o% i) Q8 B. a% UYour second way is weird. Especially the charge $5/day, never heard of it. ( H( E7 M9 _- n2 f+ W
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) 6 Q# a6 w, a4 B% ~! t& @" IWhich broker are u using?
i'm using questrade too.- Z( G2 e! a7 G L) n: A+ N
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again. - E* c% X2 y3 v% _7 ?0 r& W4 y1 ?" Q! i; j
I have both CAD and USD account when I open the questrade. . y" i: J; X7 e8 o2 [& _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. * U) P, G" j4 |8 U9 Z8 j5 [ ! U( |+ J) j4 G4 ^( PKeep in mind that transaction cost is in the same currency of stock u buy/sell.