Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate. " Q' k2 P; ^) G; T; w4 LYour second way is weird. Especially the charge $5/day, never heard of it. 8 C7 ~, X7 G X% MUnless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) - n* \0 p5 N0 H4 P- s2 HWhich broker are u using?
i'm using questrade too.4 \4 i1 `/ n6 H1 Z: A0 \# t* T
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again.3 W- p& O4 I2 k2 B' A5 s/ M, z
. ^0 E8 j2 R# S9 L; G# n# c nI have both CAD and USD account when I open the questrade. 4 c$ Z4 @- q9 e7 Q0 s+ oI 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. & u/ S8 W5 X# {5 q+ o8 @" T: z3 |5 w5 N( p2 S" q& O" S# C3 w
Keep in mind that transaction cost is in the same currency of stock u buy/sell.