Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.0 T' L4 K3 ?4 o, [% i1 v% n6 y: ^
Your second way is weird. Especially the charge $5/day, never heard of it. % w* I% f$ D" o2 _$ O8 ~3 W0 T" RUnless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) ! A T r \( \! r* R3 w6 d4 s% ]" nWhich broker are u using?
i'm using questrade too.1 }5 m: c) V$ s/ B( K, d2 ^
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again. ' T5 [; ~" @9 S9 J 8 m/ }: v; \' yI have both CAD and USD account when I open the questrade.4 n# Y1 r {8 y& m# i
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.0 \: j3 A1 s. o8 ^1 S- ]
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Keep in mind that transaction cost is in the same currency of stock u buy/sell.