Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.$ F Q! F# t* F: k+ N$ E
Your second way is weird. Especially the charge $5/day, never heard of it. : T! |1 D2 @1 TUnless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) " |" k! k6 i% q6 J: ]Which broker are u using?
i'm using questrade too.% {3 [, w9 G1 e1 {. i% G
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again. $ W6 Y3 U1 X7 @% C8 U 2 P c8 k! [$ W$ D4 EI have both CAD and USD account when I open the questrade.0 s4 F5 v) W0 K3 s
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.: k, |8 ?# \8 G* s. T
* ~) o/ a5 A! t( Z9 {Keep in mind that transaction cost is in the same currency of stock u buy/sell.