Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.1 D2 a/ F# d$ S# s) @0 \& B ^
Your second way is weird. Especially the charge $5/day, never heard of it. : }) j1 d8 y" t. wUnless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)+ t) f: ~$ B4 M. ~/ E: y: D w
Which broker are u using?
i'm using questrade too. ' l. s* ~& r0 J! _' T7 ZI am sure there is no such $5 per transaction or per day fee, u may wanna check it again. 3 p; ?9 ]5 S- a7 O ; a: F: w: s+ O6 @5 gI have both CAD and USD account when I open the questrade.2 S" G1 F/ w/ @/ Q& d
I trade US stocks a lot. What I do is to exchange enough USD at the first place, and trade directly in that US account. I don't think Questrade can do the 1st way u described, but i maybe wrong. 2 ~* `% b, D8 M# l9 ~" X3 E$ r
Keep in mind that transaction cost is in the same currency of stock u buy/sell.