Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. 3 W8 L& X5 C8 X7 {; L7 r7 Z0 ^Your second way is weird. Especially the charge $5/day, never heard of it. 0 j. o9 s: @) q6 Z& ~$ ]: H- j2 m& |Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) & G+ b' V1 [( cWhich broker are u using?
i'm using questrade too." A) t: H3 O3 {* k0 ~
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again.6 t2 ~# t5 S/ a% ? Z3 Y8 A4 r
4 z- Q) g' `2 S5 D9 U" T8 lI have both CAD and USD account when I open the questrade. 5 x) ?8 X. R8 N+ Q0 \! l" ]* W0 {I trade US stocks a lot. What I do is to exchange enough USD at the first place, and trade directly in that US account. I don't think Questrade can do the 1st way u described, but i maybe wrong. % p" } v7 R: ]8 o T( X$ |) V) N y( I- U
Keep in mind that transaction cost is in the same currency of stock u buy/sell.