When trying to trade cannabis stocks as an American investor, you might occasionally find limitations in what kinds of stocks you can buy at some brokerages, however. Not all of them will trade Canadian or even OTC stocks, though access has improved immeasurably over the last year or two.

Fortunately, most of the biggest U.S-based brokers now allow you to trades stocks listed in Canada, notably ones on the Toronto Stock Exchange (TSX) and the Canadian Securities Exchange (CSE) just as if you were buying Apple or Ford.

Whenever a stock trades in Canada and the United States over-the-counter (OTC) markets for our Cannabis Investor’s Report or The Cannabis IPO Insider members, my trade instructions will tell you where it’s best to buy the shares.  If you’re trading a stock which NICI has not recommended, you generally will do a little better buying it on a Canadian exchange than getting it OTC.

But first, you have to sign up with an online brokerage.

Signing up with any online brokerage is easy.  It’s like applying for a credit card or renting a car. In fact, signing up for a brokerage account is almost as easy as signing up to be part of the National Institute for Cannabis Investors.

You just go to the sign up area on the website and put in all your information: name, address, and so on. You’ll also enter a banking account number so you can actually put money into your brokerage and then make your stock buys.

It’s all normal and no riskier than using your credit card at a grocery stores or gas station.

Since most of my trades of the best emerging cannabis stock opportunities don’t involve companies listed on the New York Stock Exchange or Nasdaq, let’s take a look at your best options for buying TSX, CSE, or OTC stocks (in no ranked order):

Interactive Brokers LLC (interactivebrokers.com) – Investors may trade Canadian stocks with no notable restrictions. Our research team have asked if trades with three of our first five recommendations for the CSE listing of a stock could be made, and a representative said they could do so with no problems.

Fidelity Investments Inc. (fidelity.com) – Fidelity will allow you to buy through Canadian exchanges and automatically converts your purchases to Canadian dollars when buying a stock from there. Fidelity does have a policy that it will automatically convert attempted purchases of stocks trading at a penny stock prices – the Securities & Exchange Commission defines a penny stock as anything trading for less than $5 per share – to whatever the OTC stock is.

TD Ameritrade (tdamertrade.com)  – This broker will accept trades on Canadian exchanges. However, you would need to call in and talk to a live broker to make such a trade. Meanwhile, a customer can place their own trade for an OTC stock on the online platform.

eTrade (https://etrade.com) and TradeStation Group Inc. (https://tradestation.co)  – These brokers do not yet offer any Canadian cannabis stock trades. However, you can buy OTC listed stocks.

Thanks for being a part of the National Institute for Cannabis Investors,

Greg Miller
Executive Director, National Institute for Cannabis Investors


Comments

70 responses to “Where You Need to Go to Trade Cannabis Stocks”

  1. DEAR SIR,
    THANK YOU FOR ALL SUPPORT ME ABOUT OF THIS BUSINESS.
    ABOUT OF MY SHARE OF TRADER I HOPE HAVE SUPPORT ME OF INFORM.
    I HOPE HAVE COME TO YOU COUNTRY . I HAVE READY WILL CONTACT YOU OF READY COME TO COUNTRY.
    ALL OF INFORM HAVE SEND TO ME BY NY SITE.
    THANK YOU FOR ALL SUPPORT.

  2. New at this. Setting up account in Interactive Brokers. Question is which selection do I make when asked what I want to trade (Growth, Income, Speculation, Hedging, Trading Profits, Preservation of Capitol) ?

  3. Hi so I have just $600. to invest, I’m retired and I do want make some more money so I can live comfortable. I do need help cause I have never invested before.
    Thank you in advance
    Jeff Duncan

  4. Thanks for the advice. I wondered where to go to trade. Can you speak about the fees involved in trading? How often does the fees get assessed ? Are there any investment firms worth trading on that offer no fees?

  5. I’m totally new to the stock exchange but I’m excited to be a part of this up and coming business. I believe in the good cannabis can do for those that suffer with chronic pain. And most of all I want to be a millionaire/billionaire. Thanks for making this investment possible.

  6. Hello, I pay for the system and the rights to make trades via your recommendations, so tell me your thoughts on where to invest, how much, when to start and when to pull out, along with all the other points of making the stock trade. Waiting and thanks for the help.

  7. I am a newbie and picking a broker is a challenge. Do you have any recommendations i want to respond to all your recommendations. And do it with a broker who has no limitations on stocks i can purchase suggestions please. William watson thanks Nici

  8. I don’t really know what an IPO is. I need help knowing when to buy & sell. Do I check the portfolio evry day? Is there more than one portfolio? TKU

  9. I’m learning as I go. So for I have learned what an IPO is (I had to google it lol)
    I just downloaded a stock exchange app and opened another checking account that’s dedicated to my cannabis stock exchange. There’s a lot to learn but I’ll get it eventually. Thanks for the info. Keep em coming!

    • What app did you use and how has it been going as I see it’s been over a year now? Also, are they charging you a fee? I see there are some specific apps for purchasing cannabis stocks and others that are more generic. Also can any purchase on the Canadian exchange?

  10. I belong to J.Boehner’s cannibis investors and have made several buys. These buys are OTC and I am unable to set a trailing stop. How can I do this??

  11. l’m 73, and like to think I helped further the cause with 3months behind bars and 7 years probation in the 70’s. I would love to strike it rich in this new gold rush. I am a bit overwhelmed by the volume of emails I am receiving! I can’t invest until after the 1st; I hope I know what I’m doing by then.. Hemp, hemp, hurray!!!

  12. Good morning
    A novice at sharebuying and share dealing. I am a U.K. citizen. Which stick exchange do I buy these shares at
    I also believed that there will be a lot of hand holding initially at least. I would otherwise get completely lost, very quickly
    Thank you and happy new year
    Vinod

  13. I guess I’m not the only one learning as you go. I know nothing about this business but so willing to learn. I just hope I don’t make mistakes that could cost me big time. My brother is a daytime trader and does pretty well. Hope I can do as well. Now I need to get a broker and go from there. Good luck to everyone that venturing out and HAPPY NEW YEAR TO YOU ALL

  14. i am looking forward to investing its new to me and i am also learning as i go and hoping i could make the right decision om a pot stock that will make me some money and keep making money good luck to all and happy new year

  15. I am completely new at investing. I am going to learn how to do this. I will just need a lot of hand holding. I know that this will be a great business and plan to take advantage of it with the support of the people who do know how to invest. I am retired and my husband will hopefully be retiring this year. I want to be able to create an income during retirement.

  16. I am a new in investing. So i will need a lot of help in learning on how to do this. I will need a lot of couching, guiding and hand holding teaching. I understand this could great business
    looking at the whole picture and i want to learn and be involved like the pros with their support before i can spend my money. I am planning to retire by the end of this year. So creating additional income will help supplement my retirement income if lucrative.

  17. HOW DO I SIGN UP WITH A CREDITABLE BROKER, I ASK FOR LEADS ON BROKER, PLEASE HELP ME WITH THIS I NEED TO SET UP A BROKER ACCOUNT TO BUY THE STOCKS THAT IS RECOMMENDED TO ME WHEN THE TIME COMES. I DO NEED A LITTLE COACHING TO GET ME STARTED

  18. My broker, Schwab, hit me with a surprise. Schwab has a 40 day delay when trading IPOs. Also, They only accept limit trades. I have not completed reading and watching the videos, but these 2 surprises have put a roadblock in my path to riches. How do I circumvent these issues. Please respond so I can learn and correct as necessary. Thank You!

  19. I am 74 years old and brand new to all of this. I need to know the terminology and how, when and where to invest.

  20. I really need help to get started so I can invest so please help me to find the best broker to help me with investing.
    thank you

    william

  21. I wish there was more info on Brokerage Firms, which ones are best for beginners, which ones offer more for the money, and which ones are not killing you with fees. can I purchase shares without a broker ?

  22. James,

    We’re in precisely the same circumstances as an (hold on for upcoming oxymoron) “older-newbie” involving stocks of any kind. I’ve found Schwab amazingly helpful – after doing but one intense week’s study using NIC as a starting point from which to further cross-reference.

    I am ever wideningly well on the way. With Schwab holding my hand, they’re manifesting great patience in educating me as to process every stop in my endeavors. They also are amenable to some price adjustments for beginners who ask nicely in explaining that others make such offers.

  23. Wow! I just read where so many others are asking the same question, so beyond what I’ve stated above, people need to udnerstand that online checking out any more reputable companies is not hard once decided on initial investments after solid research.

    Calling to place that order with limited or no advance procedural knowledge is no biggie for them; you should expect great patience and much help as a norm. If that’s not happening, move on among many other options more supportive.

  24. Iv’ed joined the lifetime membership to get a quick start and I believe that this is just a good way to invest and make your
    finances grow. MAKE AMERICA GREEN
    GROW GRASS !

    G. Abel

  25. Investing in stock frightens me because of memory problems. How can I be sure of doing the right thing as I begin to invest in Cannabis Stock? At what time will I actually take the first step in making a purchase? I really feel that I will not know when to make a move. Will someone guide me through my first purchase? I don’t know how to choose the proper broker. Will someone help me?

  26. I lost out for the first time (after 12 successful orders) with Schwab (see my two comments above) on a recoe’d NIC investment they couldn’t place because of 40 day Canadian to US rules they apply strictly. The IPO stock jumped well above top entry price suggestion. I need a second company for back-up when that occurs and am looking into one now.

  27. I am a first time buyer don’t know any than about it please need some help. Need to find a broker and to understand the process.

  28. I’m very happy to have become a founding member of NICI report and IPO investor.I have invested in most of the recommendations and and am ahead by $3500.00 in the last four weeks. I have already recouped my initial investment in NICI. It will be all uphill from here on.If all goes well I will be able to retire within two or three years.I buy most of my Cannabis stocks in my Roth IRA with Fidelity and my regular self directed IRA.Fidelity is very helpful and they will assist you to open an account and teach you how to purchase the stocks. For those of you who are new at trading ,don’t be afraid, you can open a brokerage account with a small amount of money and buy a few shares at a time and add to them as you go along. Just buy what NICI recommends and you should do well.Thanks MR.Miller for this great service you are providing to your readers.

  29. I am a first-time buyer and feel so out of place. I have opened a Fidelity account, now I must learn to use it. Thanks, Oh So Much for your help!

  30. I’m new at this as well,I just got set up with a broker…after reading the NICI. The information is very helpful. Thanks

  31. Looks like I am not alone in the venture. What a relief. Just getting started with a stockbroker, I am using E*trade for now, except that I will need to get with a broker that deals with Canadian stocks. I have been purchasing a few stocks at a time, hopefully, by buying some of the recommendations from Greg, I will be making some money little by little. Thank you

  32. Hello. All I need to know is what to do to get started and how much money do I need to be prepared to invest in initially. Thank you for your assistance.

  33. I would like to get started investing but need some help. Any suggestions would be great.

  34. This is the first time I have ever attempted to invest my money. I know I’m taking a gamble but I believe in my heart that will all turn out great in the end. Please contact me asap to help me get started. This is all new to me!! If you need my cell phone number just ask. Thank you!

  35. Hi my name is Steven curry and I what to buy some stock I don’t have a lot of money so can you please help me

  36. My name is Rex Elkins sr and I have an money to invest in Cannabis and I need some place to start. thank you

  37. Interactive brokers charge $10 activity fee, or if no activity, $20. That will eat at whatever profits I try to make, once I have made a trade and leave it alone for a few months to grow. Is there any brokerage here, where you can trade in OTC and Canadian stocks without that punitive inactivity fee? After all, if I don’t buy clothing for a while, no one is going to charge me an “inactivity fee.” I see no reason why a brokerage has to.

  38. Hi, I’m to the investing world and would like to invest. Need help taking the first step with choosing a good broker. Any supply is appreciated.

    Sincerely,

    Adeline

  39. I’m looking to invest in the Cannabis industry and I’m also looking for savvy Brokers to handle my accounts!
    You’ve got to be reliable, dependable and last but not least, you’ve got to love making money!

    Thanks for you valuable time but I believe together we can soar to new heights…

    Yours truly,
    Robert W. Henry 111

  40. Sir,
    Thank you for this very explicit response. It has answered most of the questions I wanted to ask and am now feeling encouraged to continue with exploring the cannabis market. However, I will take my time to make a firm decision. I must apologies for contacting your Customer Service desk about four to five times. But I was nervous in taking this venture, and maybe not asked the questions in correct sequence or used the appropriate brokers’ vocabulary. Your kind response to understanding my issues is much appreciated. Thanks again.
    Ingrid

  41. I am a WW2 Vet, 92 years old and want to assign a broker for guidance in purchasing my first Cannabis stock. Please contact me and promise to be patient with me. Chuck

  42. TD Ameritrade shut down my account because I own a cannabis company. Please consider boycotting these hypocrites and use ETrade instead. Thus far, no issue with them. Same with RBD, they closed my retirement account, so I am moving my money to a Canadian broker.

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