Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. 9 f8 }% u/ B6 ~Your second way is weird. Especially the charge $5/day, never heard of it. ! {0 L. t5 t! {, j. J! n3 U. DUnless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) ; C0 a r: t5 r: j8 FWhich broker are u using?
i'm using questrade too. 9 X' t0 k. c9 S5 _# d2 D- A& mI am sure there is no such $5 per transaction or per day fee, u may wanna check it again.( N! O. p% y0 O
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I have both CAD and USD account when I open the questrade.! ]% ]' l% N; V3 D
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. . ?! J: d2 f+ I) A3 s. x. H0 Z ) {% L/ T- L' Y4 P3 ^Keep in mind that transaction cost is in the same currency of stock u buy/sell.