Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.5 S% M M, d5 @, H% e4 u
Your second way is weird. Especially the charge $5/day, never heard of it. * N9 f! Q Q! n* |2 i. t
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)% S0 P0 {5 |7 |3 c. ?$ R
Which broker are u using?
i'm using questrade too.! B, R# R0 J. L6 F: r
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again.. T& d/ I. Z% L$ r" ~7 Y4 S9 P1 [
. ~1 b6 S2 I3 B' y; \I have both CAD and USD account when I open the questrade.3 j z( d; A; ]4 v+ v
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.( W2 }; v5 j5 l; v6 M9 q @
8 m4 ?& \% U: {( H( [( ^Keep in mind that transaction cost is in the same currency of stock u buy/sell.