Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. ! j1 }! K& ^ c7 R! ?; N& c4 i: j& QYour second way is weird. Especially the charge $5/day, never heard of it. 2 n/ _4 o( e e# k& D
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)! Q3 ]/ u; u! l1 n4 T7 P
Which broker are u using?
i'm using questrade too.: x: c9 I. T7 t
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again. ( o4 E) z2 w- ~; L A ' x0 p5 L; x1 {; X7 B9 O/ n$ dI have both CAD and USD account when I open the questrade. * o# _ \1 Y& T; w0 D5 J$ G- x5 ?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. N6 z8 p1 G0 W1 _ & e5 e5 _) N+ f/ _/ yKeep in mind that transaction cost is in the same currency of stock u buy/sell.