Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. ; o" p7 Q2 Y- i. QYour second way is weird. Especially the charge $5/day, never heard of it. ' U% H4 j2 z7 b; |0 {$ CUnless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)$ |/ ~& b8 Z% X4 h0 b4 n: M
Which broker are u using?
i'm using questrade too. % y& ]3 b: C! \ N2 E+ e* e# AI am sure there is no such $5 per transaction or per day fee, u may wanna check it again. 9 l, h; x/ J/ C% r6 L 8 F2 P$ h! C: g0 Q" g/ w) mI have both CAD and USD account when I open the questrade. 5 X% j& R8 t3 K+ [2 H3 AI 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." c8 ]. |# a* @# ?
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Keep in mind that transaction cost is in the same currency of stock u buy/sell.