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 ^6 u3 q- C+ i1 c, t( Q; U2 YYour second way is weird. Especially the charge $5/day, never heard of it. ) @0 M. |7 F3 c+ \: Q3 ]2 QUnless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) " @. I# D+ }1 EWhich broker are u using?
i'm using questrade too. 7 e0 ?* m, K3 g8 G7 u0 oI am sure there is no such $5 per transaction or per day fee, u may wanna check it again. - c; Y) B0 n3 H8 W) X* O/ g( y0 k# c6 a9 q
I have both CAD and USD account when I open the questrade.% H/ |2 Q) C5 V" q+ @* Q
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.8 O2 |% s+ T4 g/ W! G* c
( L( _5 m! a9 V% zKeep in mind that transaction cost is in the same currency of stock u buy/sell.