Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.' W& {7 w8 B) P/ J( Y
Your second way is weird. Especially the charge $5/day, never heard of it. ; m" V; \3 A/ H5 g2 Q8 X7 |9 YUnless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) & @" n0 R0 J7 M V( W) B) ]3 }Which broker are u using?
i'm using questrade too. D4 ?+ i+ y8 R2 P% C
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again. ! n8 Z8 k& K- e1 `% _# K7 P1 `1 g+ i: B; A
I have both CAD and USD account when I open the questrade.1 K( X- c2 c# V% t# w
I trade US stocks a lot. What I do is to exchange enough USD at the first place, and trade directly in that US account. I don't think Questrade can do the 1st way u described, but i maybe wrong. 4 q$ D1 h3 y' W# g% A, {+ E+ V" o - I1 w3 ?* D: d% |/ ]Keep in mind that transaction cost is in the same currency of stock u buy/sell.