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Can I Buy Cannabis (Marijuana) Stocks and Funds on Charles Schwab?


2020: Can I trade marijuana stocks on Charles Schwab? Does Charles Schwab offer investing in U.S. and Canadian weed, medical cannabis stocks, ETFs, and mutual funds (MJ, Aurora, Canopy Growth, Cronos, Tilray)? Pot stocks buying cost.



Can I Trade Marijuana Stocks on Charles Schwab?


Many medical cannabis stocks can be traded at Charles Schwab. In fact, you can buy just about every marijuana stock, mutual fund or ETF with this broker, including all four of the biggest players in the Canadian cannabis industry: Aurora Cannabis (NYSE:ACB), Canopy Growth (NYSE:CGC), Cronos Group (NASDAQ:CRON), and Tilray (NASDAQ:TLRY).


How much Charles Schwab Marijuana Stock Trades Cost?


Charles Schwab charges $0 for cannabis stock trades, but most mutual funds carry a $49.95 transaction commission. Firstrade, in contrast, charges $0 on marijuana stocks and all other stocks, ETF's and mutual funds trades.


Buying Cannabis Stocks on Charles Schwab


Schwab provides access to a wide variety of stock exchanges, both inside the U.S. and around the world. One of these is the Toronto Stock Exchange. Because many marijuana companies are headquartered in Canada, having access to this market is a must for any trader interested in cannabis growers.

One company in particular that trades on the Toronto exchange is the Canopy Growth Corporation. Because Canada has legalized cannabis only for medical purposes, the company is strictly a medical marijuana firm.

Unlike Insys, Canopy Growth focuses on marijuana and does not manufacture other medical products. This makes the stock less diversified, which some investors will prefer. Canopy is also a much younger company, beginning in 2014.


Marijuana stocks on Charles Schwab


Trading under the symbol WEED, Canopy has gone from $3 per share to $13, back down to $7.89, its most recent trade price. The company has a market cap of $1.3 billion, which is pretty large for a cannabis-only company. Unfortunately, its most recent EPS is negative, indicating a losing period. The stock must have a lot of interest because its average volume is 1.25 million shares. It does not pay a dividend.


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Charles Schwab Mobile App


The lion's share of investment dollars in the United States goes to Charles Schwab, TD Ameritrade, E*Trade, Vanguard, and Fidelity. These are the largest and most widely-used brokers.

Charles Schwab customers can trade using Kindle Fire, Android, iPad, iPhone, Apple Watch, and mobile web. The app is easy to learn. Vital features include mobile check deposit, funds transfer, and live streaming of CNBC.

Charles Schwab apps are rated with a low, 2.5 star score at iTunes app store.


Charles Schwab Account Closing Fee


Charles Schwab IRA Overview


All retirement accounts at Schwab have no annual fee, no setup fee, and no inactivity fee. The broker requires a minimum opening deposit of at least $1,000 for all IRA types except the Custodial account. This $1,000 requirement can be waived with regular $100 monthly deposits. The Custodial account has a $100 minimum opening deposit.

After the retirement account is opened, Schwab’s regular brokerage commission schedule applies. This includes $0 stock and ETF trades. Using a human broker to place a trade tacks on an extra $25. Alternatively, using the broker's automated phone system is just an additional $5.

The above trading commissions can be avoided by investing in funds. Retirement savers who are interested in mutual funds will not be disappointed with Schwab. The broker offers more than 5,000 mutual funds for investors to trade. More than 3,500 of these are OneSource funds, which always have no load and no transaction fee. There is a very steep $49.95 commission to purchase transaction-fee mutual funds, although there is no fee to sell.

The broker also offers all exchange-traded funds for free. Many of them have lower expense ratios than the OneSource mutual funds. The ETF's provide a wide selection of investment tactics that may appeal to retirement investors. These include defensive equity, investment-grade bonds, REIT's, and a few S&P 500 funds.