Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.2 v+ \; R' m' N0 e5 C
Your second way is weird. Especially the charge $5/day, never heard of it. . D/ E: y+ a. m. L; j0 B A* |Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way); t4 i" r- f/ ^, U7 M% i3 Z
Which broker are u using?
i'm using questrade too. ! g l d7 X! e1 ~4 K7 sI am sure there is no such $5 per transaction or per day fee, u may wanna check it again.) F; L4 U5 |! Y9 q' v
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I have both CAD and USD account when I open the questrade. " _" x) m9 I _! oI 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.& b/ V. G6 U( ]* p4 b
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Keep in mind that transaction cost is in the same currency of stock u buy/sell.