Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.+ q% L7 }. A, I2 K- ?4 \" v+ M
Your second way is weird. Especially the charge $5/day, never heard of it. 2 W2 O. D& X$ r9 O& h
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)' F& |5 ]9 R; T6 o
Which broker are u using?
i'm using questrade too.9 M7 m& W' b* ~1 w3 c
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again.( p: M: ^& N. N* ~* E) v
- ^( G2 z, G+ E4 T7 ]I have both CAD and USD account when I open the questrade.) c+ h& e: A& o/ y6 \) Z
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." g9 J6 y$ p. i
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Keep in mind that transaction cost is in the same currency of stock u buy/sell.