Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.; a$ f: L, X/ Q, Y4 y- A, u( S* |* ]6 {
Your second way is weird. Especially the charge $5/day, never heard of it. : P; S& F4 [: ^: {
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) 4 @( A* y/ I! z# v3 N9 qWhich broker are u using?
i'm using questrade too. 6 h! i. Q8 S* XI am sure there is no such $5 per transaction or per day fee, u may wanna check it again.: J/ v) W$ U G3 A
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I have both CAD and USD account when I open the questrade. 6 D5 k; K1 A: x" W5 hI 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.4 J% \+ P' l/ ?& U" t. W% h3 N. ^/ J9 ^
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Keep in mind that transaction cost is in the same currency of stock u buy/sell.