Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. : t* Q- ]+ V% y3 n5 g- ^Your second way is weird. Especially the charge $5/day, never heard of it. ! ~; i, }( [' \
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) ( g% x8 \- k% R+ M! W5 x2 M) JWhich broker are u using?
i'm using questrade too. * L9 S2 i; l" ~; i* M/ V2 x3 aI am sure there is no such $5 per transaction or per day fee, u may wanna check it again. ! H0 K7 z( m6 ]. m5 n) J8 a/ l1 @' D8 a
I have both CAD and USD account when I open the questrade.# T. ?- h B9 M K( r; A/ R# W4 N
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. 8 w4 e1 X: |, S' o. A& J 2 V( m9 J- x9 C% N/ Y; hKeep in mind that transaction cost is in the same currency of stock u buy/sell.