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 y! P( @' o' d% I& x9 S
Your second way is weird. Especially the charge $5/day, never heard of it. ( |; J8 ~4 q" t4 w
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) / l- ^. K5 S4 j! BWhich broker are u using?
i'm using questrade too. ! q2 R# B V5 \, pI am sure there is no such $5 per transaction or per day fee, u may wanna check it again.; L; A! H: _$ Q$ m
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I have both CAD and USD account when I open the questrade.) G* D* p" w: h; [1 z! c9 s1 }
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.1 ^: r2 L1 @, a$ |1 C* ?
! n4 O* n- k! Z; }5 K! K: T9 }% IKeep in mind that transaction cost is in the same currency of stock u buy/sell.