All marijuana use in Canada will be legal starting on Oct. 17, and it's going to send marijuana stock prices skyrocketing. Cannabis sales in North America are expected to climb 145% from $10 billion in 2018 to $24.5 billion by 2021.
Marijuana legalization in Canada is being called the new "gold rush," which is why Money Morning readers are asking how they can join the cannabis revolution right now.
Today, we're going to share all the steps on how to open your first brokerage account so you can capitalize on the $10 billion cannabis industry...
Finding a broker - the right broker, one that's capable of handling each of your particular needs - requires a variety of considerations.
Everything from account minimums, acceptable trade types and commissions fees, to trading platforms, customer service availability, and regulatory standing.
The best option, of course, depends on what's important to you.
For transaction-free trades, Robinhood is an excellent option. You won't owe commissions on any stocks you buy or sell.
Critical Update: Forget Tech or Crypto, This Will Be the Next $1 Trillion Industry
However, Robinhood doesn't offer as many options, like penny stock and over-the-counter (OTC) market trades.
Right now, most marijuana stocks either are penny stocks or are traded on OTC markets.
To purchase those stocks, the chart below provides all the details on how to open a discount brokerage account.
These aren't recommendations for brokers. Rather, these are popular options for first-time investors looking to open accounts with low minimums and low trading fees.
Brokerage | Website | Minimum to Open | Trade Fees |
Charles Schwab | Schwab.com | $1,000 | $4.95 |
Fidelity | Fidelity.com | $0 | $4.95 |
TD Ameritrade | TDAmeritrade.com | $0 | $6.95 |
Before you go, as a service to our readers, we also had to make sure you had the opportunity to secure your seat at the first-ever national event on cannabis...
[mmpazkzone name="in-story" network="9794" site="307044" id="137008" type="4"]
He's connected on Capitol Hill. He golfs with the president. And he knows all the major players in the cannabis industry.
Make no mistake, Speaker Boehner has the inside track on the future of this green gold rush.
And on Tuesday, Oct. 23, he's agreed to take you deep inside our nation's most controversial - most misunderstood - and what's quickly becoming our most lucrative industry.
Just click here to register for this free, once-in-a-lifetime event.