Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. 8 o0 w" e8 G) u- Y7 s1 qYour second way is weird. Especially the charge $5/day, never heard of it. 9 j% b8 m/ ]3 u# x+ H% o/ ]- ^
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)0 _+ F0 n: J7 W) \: D& N. ?) @' v
Which broker are u using?
i'm using questrade too.! b$ e9 u- v: |
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again./ C8 G+ T+ E# E% I* ~6 L4 `
+ c% ]/ ?7 D. D# {: YI have both CAD and USD account when I open the questrade.; Y2 t" r M9 |
I trade US stocks a lot. What I do is to exchange enough USD at the first place, and trade directly in that US account. I don't think Questrade can do the 1st way u described, but i maybe wrong., {! n/ x( o$ x/ v6 [4 M
( l" k- E% j% W# e- L) HKeep in mind that transaction cost is in the same currency of stock u buy/sell.