Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. * \( I, b$ F( u% e+ V8 _+ T" Z/ \* kYour second way is weird. Especially the charge $5/day, never heard of it. ( y+ N. p* |4 A$ @- x0 D) \1 o% x; R3 zUnless u already have USD, either way has little difference (u need to exchange CAD to USD in either way)6 p7 v5 Z( C2 T l: r
Which broker are u using?
i'm using questrade too.' D; ^/ y! i$ v! ?6 z) J
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again./ P$ L0 p; U% X: E. K* a" I
8 Z: y. H" @; u* qI have both CAD and USD account when I open the questrade. * p; G. {% W) J% ?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.* Q# m! o: z+ q$ n2 ]8 r
1 \+ r6 K* d/ i( b2 OKeep in mind that transaction cost is in the same currency of stock u buy/sell.