If you are looking to add some cannabis stocks to your portfolio – it is wise to open an account with a low-cost broker that gives you access to both the US and international markets.

This is because, in addition to the NASDAQ, many cannabis stocks are listed in Canada and the UK.

In this guide, not only do we show you how to buy cannabis stocks in under five minutes – but without paying a cent in commission.

How to Buy Cannabis Stocks – 5 Easy Steps

The best place to buy cannabis stocks is eToro. This platform gives you access to over a dozen cannabis stocks from the US, Canada, UK, and more – all on a commission-free basis.

Moreover, US clients pay nothing in deposit fees and the minimum cannabis stock trade requirement is just $10.

Following the five steps below to buy cannabis stocks in less than five minutes:

  • ✅Step 1 – Open an Account With eToroBefore you can buy cannabis stocks at eToro, you will need to quickly register an account. Enter your name, nationality, home address, social security number, and any other information required when prompted.
  • 🛂Step 2 – Upload ID: eToro is regulated by the SEC and FINRA to offer stock trading services to US clients. And therefore, you will need to upload a copy of your state ID, passport, or driver’s license to get yourself verified.
  • 💳Step 3 – Deposit Funds: The next step is to make a deposit into your account. US and UK clients are required to deposit a minimum of $10. If you’re located elsewhere, the minimum stands at $50. USD deposits attract no transaction fee and you can choose from a debit/credit card or e-wallet (including Paypal), as well as ACH or a bank wire.
  • 🔎Step 4 – Search for Cannabis Stocks: eToro lists a wide selection of cannabis stocks. To find the stock that you want to invest in, type the name of the company into the search bar and click ‘Trade’.
  • 🛒Step 5 – Buy Cannabis Stocks: In the field marked ‘Amount’ type in the size of your cannabis stock investment – from $10 upwards. And finally, to place your order, click on the ‘Open Trade’ button.

Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider.

Once you have completed the above steps, the cannabis stocks will be added to your investment portfolio.

Best Brokers to Buy Cannabis Stocks

Although a small number of medium-cap cannabis stocks are listed on major US exchanges, many are listed overseas.

In particular, some of the best cannabis stocks in the market right now – especially those that are undervalued, are listed in Canada and the UK.

As such, it’s wise to choose a stock trading platform that offers low-cost access to both the US and international stock markets.

For an overview of where to buy stocks from the cannabis industry, consider the brokers discussed below.

1. eToro – Overall Best Place to Buy Cannabis Stocks

Our research found that eToro is the best broker to buy cannabis stocks right now. This online broker was launched in 2007 and it offers some of the lowest trading fees in this space. You will have access to thousands of stocks across the US and international markets – which covers plenty of cannabis companies.

Supported markets outside of the US include Canada, the UK, Germany, the Netherlands, France, Hong Kong, and more. What we really like about eToro is that not only can you buy cannabis stocks in the US without paying any commission, but this is also the case with foreign equities.

Furthermore, regardless of which cannabis stock or exchange you are interested in, you only need to risk $10 per trade. Before you can buy cannabis stocks here, you will need to open an account and upload some ID – which takes just five minutes from start to finish. You can then make a minimum deposit of $10 if you’re based in the US or the UK.

buy cannabis stocks at eToro

Traders located in other regions are required to deposit a slightly higher amount of $50. If you are depositing funds in US dollars, then eToro will not charge you any transaction fees. Otherwise, you will pay a competitive FX charge of just 0.5%. Many traders will opt to fund their account and buy stocks with credit card, Paypal, Neteller, or Skrill.

These payment methods are processed instantly. Alternatively, if you’re not in a rush, you can also transfer funds via ACH or online banking. Once you have added your favorite cannabis stocks to your portfolio, you might also consider the copy trading tool. This allows you to copy another eToro investor like-for-like, meaning that you can trade passively.

If you’re looking to build a diversified basket of stocks but don’t quite know where to start, eToro offers dozens of pre-made smart portfolios. These are managed by the eToro team so again, this supports a passive investment strategy. In addition to stocks, eToro lists commission-free ETFs and you can also buy cryptocurrency assets like Bitcoin and Ethereum.

etoro copy trading

You might consider downloading the eToro app too should you wish to buy and sell cannabis stocks on the move. Available on both iOS and Android, the eToro stock app gives you access to the same features as the primary web trading platform. Finally, and most importantly, eToro is regulated by the SEC and FINRA to offer stock trading services in the US.

Minimum Deposit $10
Fractional Stocks? Yes – $10 minimum
Pricing System 0% commission on all cannabis stocks and ETFs
Cost of Buying Cannabis Stocks Spread only

What We Like

  • Overall best broker to buy cannabis stocks
  • Thousands of US and international stocks listed
  • 0% commission on all cannabis stocks and ETFs
  • Minimum deposit and stock trade is just $10
  • Copy trading and smart portfolios
  • No fees on USD deposits

Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider.

2. Webull – Buy US-Listed Cannabis Stocks From Just $5 

webull logo

The other option you have when learning how to buy cannabis stocks is Webull. This online broker has a great reputation in the US stock trading scene with both beginners and experienced investors alike. You can open a free stock trading account here without needing to meet a minimum deposit.

And, if depositing funds via ACH, you won’t be charged any fees. If, on the other hand, you transfer funds via a domestic bank wire, you will be charged $8. Nonetheless, Webull is home to thousands of US-listed stocks. As such, if your chosen cannabis stock has its primary or secondary listing in the US, you will likely find it here.

The main drawback with Webull is that the very few international stocks hosted on its platform are represented via ADRs. This results in indirect ownership alongside higher fees. As a result, if you want to buy stocks listed overseas, eToro is by far the better option.

webull platform screenshot

Nevertheless, we do like Webull for its offering of stock options. This allows you to speculate on US-listed cannabis stocks without needing to outlay the full investment stake. This also allows you to speculate on the value of the stock going down. You can also use your Webull account to invest in cryptocurrency assets and ETFs.

Other core features that you will find on Webull include fully-fledged retirement accounts, across a variety of IRAs. You can also trade stocks on margin, albeit, this will require a minimum balance of $2,000 at all times. Webull also offers a user-friendly trading app for iOS and Android. Finally, Webull is regulated in the US to offer stock trading services.

Read More:  Read our eToro vs Webull comparison if you’re still deciding where to buy cannabis stocks.

Minimum Deposit $0
Fractional Stocks? Yes – $5 minimum
Pricing System 0% commission on all cannabis stocks, ETFs, and options
Cost of Buying Cannabis Stocks Spread only

What We Like

  • No minimum deposit
  • Great for buying US-listed stocks
  • Access to margin trading tools
  • Ideal for all investor profiles

Your capital is at risk.

How to Buy Marijuana Stocks with eToro – Tutorial

Once you have crossed off where to buy marijuana stocks, the only thing that is left to do is open an account and deposit some funds. You can then search for your chosen cannabis stock and place a buy order.

For guidance, below we explain how to buy stocks on eToro. Just remember, eToro offers cannabis stocks in the US and overseas at 0% commission and you only need to invest $10 for each trade that you place.

Step 1: Open an eToro Stock Broker Account 

You might be surprised to learn that it takes just five minutes to open a verified eToro account. This is because the entire platform is automated, so there is no requirement for eToro to manually look over your information or verification documents.

The first step is to click on the ‘Join Now‘ button on the homepage and enter your personal information. You also need to create a username and enter a strong password.

etoro review

Additional information requirement by eToro includes your social security number, nationality, residential address, and date of birth. You also need to enter and confirm your cell phone number.

Step 2: Upload ID

Now that you have completed the first stage of the registration process, you will now be asked to verify your identity and residency status. This can be achieved near-instantly by uploading two documents.

Buy Dividend Stocks with eToro

First, upload a copy of your government-issued ID so that eToro can verify your identity. You can choose from a state ID card, driver’s license, or a passport. Your chosen document must still be valid.

Second, eToro will need to verify the home address that you gave in Step 1. There are many documents that you can choose from, such as a bank statement or a utility bill issued by an electricity or water company.

Either way, your proof of address document must have been issued within the prior three months.

Step 3: Deposit Funds

The next step is to choose your preferred deposit method. eToro supports an extensive range of payment types, which is inclusive of e-wallets like Paypal, Neteller, and Skrill. You might also consider depositing funds with Visa or MasterCard.

buy dogecoin at etoro

ACH, online banking, and domestic wires are also supported but do note that processing times are not instant like the aforementioned methods.

All payment methods on the eToro website require a minimum deposit of $10 if you’re based in the US or the UK. Most other regions are required to deposit at least $50.

And best of all – if you are depositing funds in US dollars, then you won’t pay any fees.

Step 4: Search for Cannabis Stocks

The best way to buy cannabis stocks on eToro is to use the search function.

As you can see from our example below, we are looking to buy GrowGeneration stock. As such, we start typing in the name of the company and click on the ‘Trade’ button when the stock populates below the search bar.

how to buy cannabis stocks at eToro

The other option that you have at eToro is to click on the ‘Discover’ button. This gives you a birds-eye overview of what cannabis stocks are available to trade. You can also narrow your search down through a variety of filters.

Step 5: Buy Cannabis Stocks at 0% Commission 

Placing an order to buy cannabis stocks at eToro is very straightforward. If you are not planning to deploy a stop-loss or take-profit order, then you just need to specify your investment stake.

The minimum stake on all supported cannabis stocks at eToro is just $10. This means that if your chosen stock has a high share price, you can invest fractional amounts.

how to buy cannabis stocks at eToro

Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider.

The final step is to click on the “Open Trade’ button – which assumes that the respective stock exchange is open. If not, click on ‘Set Order’ and the position will be filled when the market opens.

How to Sell Cannabis Stocks

In order to make a profit from a cannabis stock investment, you will need to sell your stocks for a higher price than you originally paid.

If you completed your purchase at eToro, your cannabis stocks will remain in your portfolio for as long as you wish – and you will not be required any holding or administration fees.

When you are ready to cash out your cannabis stocks, you can do so by following the simple walkthrough outlined below:

  • Step 1: Log Into eToro Account –  You will first need to log into your eToro account.
  • Step 2: Open Portfolio –  You will now need to click on the ‘Portfolio’ button. This will show you all of the investments that you currently have outstanding.
  • Step 3: Click Settings Cog –  Next, click on the icon that looks like a cog. Then, click on the ‘Close’ button.
  • Step 4: Confirm Sale –  Finally, click on the ‘Close’ button again to let eToro know that you wish to sell your cannabis stocks.

Take note, you can only sell your cannabis stocks in real-time if the respective exchange is open. If it is, your sell order will be executed immediately and the proceeds from the sale will be added to your balance.

If the market is closed, eToro will sell your cannabis stocks back to cash as soon as it reopens.

How Much Does it Cost to Buy Marijuana Stocks?

The amount that you will need to pay in fees to buy cannabis stocks will depend on the broker that you opt for and the exchange that the stocks are listed.

For a quick overview of what fees to look out for when learning how to invest in cannabis stocks, check out the sections below:

Deposit Charges

Before you get to the stage of buying your chosen cannabis stocks, you will need to make a deposit. The vast majority of US-based brokers allow you to deposit funds for free via ACH.

However, if you wish to transfer funds via a bank wire, then you might be charged a flat fee. At Webull, for example, this costs $8 for each domestic bank wire transfer that you execute.

Trading Commissions

The next fee that you need to look out for when learning how to buy cannabis stocks is the commission. This fee, if applicable, is charged when you buy cannabis stocks and then again when you eventually decide to cash out.

Now, if your chosen cannabis stocks are listed in the US, then you will likely not need to pay a commission. However, if you are interested in cannabis stocks listed in Canada, the UK, or further afield, then commissions will all but certainly apply.

We found that the only exception here is if you decide to buy international cannabis stocks at eToro. The reason for this is that eToro offers 0% commission not only on US stocks, but on all of its supported foreign markets too.

FX Risk

We have mentioned several times that many of the best cannabis stocks in this market are listed overseas. As such, you also need to consider FX fees.

This is an indirect fee, as to whether or not you lose out will depend on the FX rate between the US dollar and that of the currency that backs the exchange in question.

For example, if you buy cannabis stocks located in Canada, you need to consider the FX rate on CAD/USD both at the time of the purchase and the sale.

Conclusion

The cannabis industry is expected to grow exponentially over the coming decade.

How quickly this feeds down to cannabis stocks will largely depend on the relaxation of regulations surrounding recreational usage, which can take time

Nonetheless, if you are wondering how to buy cannabis stocks today while this industry is still heavily undervalued, the process takes minutes at eToro.

You can invest in cannabis stocks at eToro without paying any commission – which is the case for companies listed in both the US and international markets.

etoro review

Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider.

Frequently Asked Questions on Buying Cannabis Stocks 

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