Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. ! j# e8 ~6 ^" A! | N1 U# R! x- Z6 UYour second way is weird. Especially the charge $5/day, never heard of it. 9 r' O$ p: }0 X
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)4 M. ]- n) e% R! s8 v
Which broker are u using?
i'm using questrade too. ' i% W! S4 Q* z& N9 |' O) AI am sure there is no such $5 per transaction or per day fee, u may wanna check it again. & n3 D8 l4 I u% q- y) U3 t/ @' n& D/ Z' N4 N7 v+ X ~
I have both CAD and USD account when I open the questrade., z- S7 |% H" h
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. - T! }2 }1 T2 o+ N0 C) [4 A- A7 x: B# N' ?: h
Keep in mind that transaction cost is in the same currency of stock u buy/sell.