Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate." t8 p. [5 _6 k8 I" q' @
Your second way is weird. Especially the charge $5/day, never heard of it. . }6 K3 c+ g7 P7 O- X8 a' R
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) ) Q' d/ O% e/ }. Y0 c* O8 ]Which broker are u using?
i'm using questrade too. ! {3 k8 W7 A0 m3 N3 |I am sure there is no such $5 per transaction or per day fee, u may wanna check it again.) u' H# b0 z; M1 p- m
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I have both CAD and USD account when I open the questrade. ) R& h) |/ v4 {( a6 z1 C& c3 TI 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.! [7 L% w' y z
8 F/ V' M( t2 oKeep in mind that transaction cost is in the same currency of stock u buy/sell.