Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. 6 p" n8 w5 {5 `' ~2 w" t$ `Your second way is weird. Especially the charge $5/day, never heard of it. ) A% F! Q5 J& x3 ^! V) F; c
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) * ^" ~& L, b* _! t4 Z/ p% B, AWhich broker are u using?
i'm using questrade too. 8 Y4 N7 ~1 p) E U/ kI am sure there is no such $5 per transaction or per day fee, u may wanna check it again. 9 U& n1 |7 O& F3 [) C& v, y 0 f) b% P9 h: x8 Z* VI have both CAD and USD account when I open the questrade. ' H# \6 a0 m1 F/ B+ o+ PI 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.! M2 W6 T# f8 Q
/ Q/ T" ?; O2 r/ @5 V8 pKeep in mind that transaction cost is in the same currency of stock u buy/sell.