Best Brokerage Firm Accounts To Buy Cannabis (Medical Marijuana) Stocks


2020 top rated free online brokers for cannabis stocks trading. Best brokerage companies accounts to buy medical marijuana, pot stocks and mutual funds from U.S. and Canada (MJ, Aurora Cannabis, Canopy Growth, Cronos, Tilray)



Webull Cannabis Stocks Commissions


InvestmentsCommissions
Stocks and ETFs $0 for all customers
Options $0
Minimum to open $0


Webull Advantages

  • Cheapest trading fees for stocks, ETF's, options, and cryptos
  • $0 deposit to open a brokerage account
  • $0 account maintenance and inactivity fees
  • $0 IRA fees
  • Free DRIP plans
  • Very easy to use


Webull Account Review

With the commission schedule of $0 on all products, Webull is an ultra-low-fee brokerage firm. These incredibly cheap trading fees on stocks, options, and ETF's are available to all customers - there are no conditions, no fine print or hidden fees, and no introductory period. This pricing policy makes the company one of the top brokerage firms for marijuana stocks.

Despite the lowest stock trading fees, the broker offers trading technology and a host of other investment services that are competitive with other firms in the online industry.


WeBull Markets


At Webull you can buy 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).

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Open Account

Get 2 FREE stocks valued up to $1,400 + $100 in ACAT reimbursement.

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M1 Finance Cannabis Stocks Commissions


InvestmentsCommissions
Stocks and ETFs $0 for all customers
Mutual funds not offered
Minimum to open $0


M1 Finance Advantages

  • Lowest ($0) commissions on stocks and ETF's
  • $0 maintenance, inactivity or hidden fees
  • Extremely low margin rates on borrowed cash
  • Robo-advisor service
  • $0 fee IRAs


M1 Finance Account Review

Like Webull, M1 Finance also offers $0 commissions on stock and ETF trades. There is no catch - they make money on borrowing money to investors. One major difference between the two brokers is that M1 Finance does not offer trading in options or cryptos. For this reason anyone interested in these securities should go with Webull.

Second important distinction between these brokers is that M1 Finance is a hybrid online broker and robo advisor. As with any online broker, M1 Finance customers could trade stocks and ETF's themselves. But being a robo advisor as well, the firm offers a service of investing money for clients. Customers just answer a few questions about their risk tolerance and investing goals, and M1 will create and buy a diversified portfolio of stocks and ETF's for them. This service is especially beneficial to anyone new to investing, for buy-and-hold investors, and anyone who doesn't have time or expertise to pick securities or create diversified portfolio.


M1 Finance


All the top traded pot stocks from the Canada's medical marijuana industry are available at M1 Finance: Aurora Cannabis (NYSE:ACB), Canopy Growth (NYSE:CGC), Cronos Group (NASDAQ:CRON), and Tilray (NASDAQ:TLRY).

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Open Lowest Commissions Broker Account


Pay $0 commissions. Transfer account to get up to $2,500 bonus at M1 Finance.

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Overview of Major Cannabis Companies


There’s been a lot of news lately about medical marijuana. If you want to take advantage of the financial opportunity (undoubtedly both long and short) in this growing economic sector, you need to be completely familiar with the major players in the industry. The four biggest are The Cronos Group, Canopy Growth Corporation, Aurora Cannabis, and Tilray. Let’s take a look at them.


Canopy Growth Corporation


We’ll start with the largest company by market cap. Coming in at $15.9 billion is Canopy Growth Corporation. Headquartered in Canada, Canopy Growth manufactures a wide variety of weed-based products under brands such as Tweed, Spectrum Cannabis, CraftGrow, Tokyo Smoke, and Maitri. Canopy has operations throughout the world.


Canopy Growth Stock


As for the stock’s performance, the story isn’t quite so impressive. Its latest EPS is a rather disappointing -$1.79. A negative number indicates the company is losing money, a very bad sign if you’re bullish, and a very good sign if you’re bearish.

Total revenue for Canopy on its most recent income statement was reported to be $74 million annually. The company’s revenue has grown year-over-year, definitely a positive indicator. But operating expenses have also grown.

On the stock market, volatility on CGC has been quite high. Its 52-week range is $19 to $59, and its beta is 3.3. Both figures show quite a bit of price movement. The stock also doesn’t pay a dividend, so there’s no hope for income at this point.

The options market for CGC is very active with thousands of contracts. Implied volatility at-the-money is around 50-75%, which is quite high. Investors are expecting a lot of price movement, one way or another, in this stock.


Aurora Cannabis


The second largest pot producer is Aurora. Its market cap is currently at $8.2 billion, almost half the size of Canopy. Obviously, Canopy is going to be the biggest company in our survey.


Aurora Cannabis Stock


Unlike Canopy, however, Aurora has posted positive earnings. This is a very good sign if you’re looking for a company to take a long position in. Its most recent EPS is $0.22, not large by any standard, but it’s above water. Its P/E ratio is 36.7. (Canopy doesn’t have a P/E ratio because its earnings aren’t positive.)

As for Aurora’s growing operations, the company boasts over 500,000 kg of cannabis every year. It owns or invests in several medical marijuana ventures worldwide, including Pedanios GmbH, a medical marijuana company in the EU.

Aurora’s options market shows a higher implied volatility than Canopy’s options carry. We also found more contracts and higher volume.

As for the stock itself, ACB has a smaller beta than Canopy, which demonstrates less volatility. The 52-week range is $4 to $13. Average volume on the stock is around 23 million shares per day, which shows a lot of interest. With such high volume, ACB will have a low bid-ask spread, which reduces trading costs.