Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. & ]4 U* W# h+ R3 |4 Z x1 U+ X9 o6 VYour second way is weird. Especially the charge $5/day, never heard of it. 3 r. T) I" u8 FUnless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)0 T& |) R" z( \2 R) D9 U* ~9 n
Which broker are u using?
i'm using questrade too.+ [. r1 D$ W+ R8 C* c/ O5 r
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again. % V- h+ z; w% P0 \% M' V' O" o9 X8 r" x# O/ G
I have both CAD and USD account when I open the questrade.) h3 h, c! h! l( U6 v; ]' G
I trade US stocks a lot. What I do is to exchange enough USD at the first place, and trade directly in that US account. I don't think Questrade can do the 1st way u described, but i maybe wrong. 2 o" I) v* M4 ]: T6 p: @9 u7 o % l: ]9 {" H; _6 W$ RKeep in mind that transaction cost is in the same currency of stock u buy/sell.