Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. ) }9 K3 v- D4 t$ Q! w' c9 _Your second way is weird. Especially the charge $5/day, never heard of it. e a8 \7 `9 o- v" aUnless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)' i. `6 @* P) l8 ?
Which broker are u using?
i'm using questrade too.+ | q5 Z M6 z( `) j! M" M
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again.3 c7 I" |4 a' |5 W0 V: |: ^
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I have both CAD and USD account when I open the questrade.0 D4 v$ I K$ x) u
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.4 C3 \ ?0 O% U* [1 ?/ O* B
! ?% O7 L j H; w: \6 GKeep in mind that transaction cost is in the same currency of stock u buy/sell.