2019: Can I buy Canadian stocks on Etrade? Does Etrade offer trading penny stocks, medical marijuana stocks (Aurora Cannabis, Canopy Growth, Cronos, Tilray) from Toronto Stock Exchange?

Does E*Trade Offer Trading in Canadian Stocks?

Trading only American stocks is so 20th century. Today, investors live in a global economy, and they want to tap into opportunities around the world. If you have an E*Trade brokerage account, you can buy and sell Canadian equities without paying any extra charges. Here’s the rundown:


Finding Canadian Stocks at E*Trade

E*Trade’s stock screener can be found by going to Research > Stocks > Stock screener on the company’s website. It offers the ability to search in the financial sector and specify banking as a sub-sector. When we did this, we got 819 banking stocks trading on the U.S. exchanges. Many of these are U.S. companies, but a few are Canadian firms. E*Trade’s stock screener doesn’t specify the nationalities of the stocks, so you need to know what you’re looking for when you go through the results.

One stock in particular we found was Toronto-Dominion Bank (ticker symbol TD). This security is an American Depository Receipt that trades on the NYSE. E*Trade’s profile page shows a great deal of information on this company, including multiple third-party analyst reports (with trade recommendations), blogger sentiment, and recent earnings hits and misses.


Buy Cronos on Etrade


Marijuana Companies on E*Trade

Using E*Trade’s equity search tool, we were also able to find enterprises engaged in the medical marijuana industry. We did this by selecting healthcare as the sector and then choosing pharmaceuticals as the sub-sector.

This produced 314 stocks, many of which are American companies. If you know beforehand which firms are Canadian, you’ll be able to find cannabis stocks. To give you some examples, we were able to find Tilray, Aurora Cannabis, Inc., Canopy Growth Corporation, and The Cronos Group. These are ADR’s, and they can be traded on E*Trade’s platform just as easily as any other security.


Buy Canopy Growth on Etrade


E*Trade has some really good profile pages for these Canadian firms. For example, the profile for Tilray shows a small and large chart. An analyst report from Thomson Reuters displays a negative rating. News articles display various events, such as a partnership between Tilray and Budweiser.


Buy Tilray on Etrade


A blogger sentiment section shows data from 26 bloggers over a 12-month period, with most from Seeking Alpha. The sentiment is 77% bearish.

If you don’t want to trade the stock, E*Trade presents derivatives for TLRY in a very easy-to-read option chain format. E*Trade’s software also is capable of creating multi-leg strategies.


Competitors

Ally Invest offers much lower commissions than E*Trade and the same selection of cannabis and Canadian stocks.


Suggestions for Trading Canadian Securities at E*Trade

Because E*Trade’s software doesn’t have the ability to look explicitly for ADR’s, or for stocks trading on Canadian exchanges, it may be best to start your research elsewhere and then bring some specific companies to the broker’s platform. For example, Nasdaq’s stock screener is able to look for companies in specific geographic regions. We were able to find companies and input their ticker symbols into E*Trade’s search engine.

Nasdaq’s screener can look at both Mexican and Canadian exchanges, and these results can be sorted by market cap, sub-sector, IPO year, country, company name, and ticker symbol. It will probably be easier to start here.




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