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 _* [! p+ o) O1 `* `2 l; {+ ^$ R
Your second way is weird. Especially the charge $5/day, never heard of it. & l( A8 r0 |- q6 p# M) \% R
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) 5 v8 e L, X& p: j; cWhich broker are u using?
i'm using questrade too.% Q% ^$ I8 D+ a. A: R4 C) K
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again. " | Q/ H8 Z( }- V5 y0 V: s- }# N2 g8 H3 W7 n/ `7 R6 z
I have both CAD and USD account when I open the questrade. 3 C1 B; ~1 ~5 |9 @: w( c# nI 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.6 Y9 \) G2 c3 k5 C6 b# w/ ~8 S q$ L! `
' `$ X% q$ {) I' n& hKeep in mind that transaction cost is in the same currency of stock u buy/sell.