Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. " J6 P& v* t# E& y, _7 }Your second way is weird. Especially the charge $5/day, never heard of it. 2 @% G" C& s! P& V9 c7 G: d7 B
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) 7 t2 a. G, P8 m/ D. J% ~. }2 |Which broker are u using?
i'm using questrade too./ u1 ?1 n# Q+ r9 f
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again.( o: R; j" _ m, o+ W
$ e% f- `2 L: ]! bI have both CAD and USD account when I open the questrade.- g9 x) f( |7 F* f
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. 7 |- U- `7 ]1 ~/ S) p' @, M1 d0 ~1 ~* t ?) u) | H
Keep in mind that transaction cost is in the same currency of stock u buy/sell.