Trade with CAD account is the most common way to buy US stocks. Broker charge on conversion is included in real-time exchange rate.! y$ C, i9 {9 G6 B5 i5 y
Your second way is weird. Especially the charge $5/day, never heard of it. ) V3 d/ G9 u% N ~
Unless u already have USD, either way has little difference (u need to exchange CAD to USD in either way) 7 u( ^0 m8 R/ [ |Which broker are u using?
i'm using questrade too.2 T9 c7 E( {! x# \
I am sure there is no such $5 per transaction or per day fee, u may wanna check it again.7 H4 k( U# \& a) m* v( H6 H8 j
7 ] t1 m" I7 v. F& ^$ {I have both CAD and USD account when I open the questrade. * a9 b) `! `* H7 O/ K. yI 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.+ s1 a1 }! f+ E( H8 N
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Keep in mind that transaction cost is in the same currency of stock u buy/sell.