Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.$ e: N3 |9 ^" b/ }0 o3 L/ c
Your second way is weird. Especially the charge $5/day, never heard of it. 8 D7 [$ \) V$ U7 [' bUnless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) 3 j3 I5 w7 |7 E: RWhich broker are u using?
i'm using questrade too.: X1 E! I& b# @3 o8 Y* R
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again.: z: F/ Q n! b2 S& X, ?% x
; x+ t+ [0 _0 S( D9 s1 EI have both CAD and USD account when I open the questrade. 7 l4 [# w% ~; _3 ~+ |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. - l. Q; {3 ~' _( S s+ ?( X9 _ ( x% _' R' Y* E- YKeep in mind that transaction cost is in the same currency of stock u buy/sell.