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 NICI Membership or Danny Brody’s Cannabis Inner Circle subscribers, 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.