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# }) A: x# F, C' NYour second way is weird. Especially the charge $5/day, never heard of it. 9 y# n9 G( h$ o( y, z
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) " Q- e- O& t# T. t9 M% ^0 t6 `Which broker are u using?
i'm using questrade too.' O* K# F! J( ~6 C( n2 ~1 Q0 G" g) {
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again. 9 s. |! u! y* E" `6 ]! B* w : o3 R: q1 R1 q! A$ S- rI have both CAD and USD account when I open the questrade./ G- V& A! i9 B; R
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.: w7 S( \' N9 o) G# O
! {6 y& w- u7 G! c; `9 W& B1 G7 tKeep in mind that transaction cost is in the same currency of stock u buy/sell.