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

Can I Trade Canadian Stocks at Fidelity?

The U.S. stock market just isn’t enough anymore. There are too many investment opportunities around the globe. Fortunately, Americans can tap into these prospects using the services of several U.S. brokerage firms. One of them is Fidelity.


Trading Canadian Equities at Fidelity

The process to find Canadian stocks at Fidelity is the same as the procedure to find any other investments. The broker’s stock screener is able to look at specific exchanges; although unfortunately, it doesn’t have the ability to scan the Canadian exchanges. It can look exclusively for over-the-counter stocks, and some of these will be Canadian and other foreign companies. You have to know which companies are headquartered in Canada, because Fidelity’s stock scanner won’t tell you.

For example, when we specified OTC securities only, Fidelity’s stock scanner returned a long list of investments (over a thousand), one of which was Amarillo Gold Corp. This is a gold mining company headquartered in Toronto, Ontario. The stock can be traded at Fidelity like any other security, and there are no surcharges for OTC stocks.


Cannabis Companies on Fidelity

Fidelity’s equity screener offers the ability to scan by sector. When we chose pharmaceuticals, we found several stocks engaged in medical cannabis growth. Some of these are Canadian firms. For example, we found Tilray, Aurora Cannabis, Inc., The Cronos Group, and Canopy Growth Corporation. The securities are actually American Depository Receipts. Fidelity has no surcharges for ADR’s, which means it costs just $4.95 to trade them.


Buy Tilray on Fidelity


Tilray trades under the symbol TLRY. Fidelity’s profile page has news articles related to this company. For example, there is an article from Investars Analyst Action about a recent downgrade of Tilray by Zacks Investment Research.

We found a chart for TLRY. Because the ADR just launched on the Nasdaq in 2019, there’s not much price history. But Fidelity’s charting program does come with some helpful tools, such as comparisons and technical analysis.

If you’re interested in the technicals of the stock, Fidelity has already done some of the ground work for you. Using Recognia, Fidelity grades the short-term sentiment as strong, but the mid-term as weak.

Missing on Fidelity’s profile page are many important data points, such as P/E ratio and dividend yield (there’s probably no dividend at this point). We did find EPS (TTM), which was negative, a bad sign. EPS growth was an astonishing -900%.


Buy Canopy Growth on Fidelity


Competitors

Ally Invest offers same or lower commissions than Fidelity and the same selection of cannabis and Canadian stocks. Firstrade is cheaper than any broker, charging $0 commission for stocks, ETFs and mutual funds.


Tips for Trading Canadian Equities at Fidelity

Because Fidelity’s stock scanner isn’t able to search explicitly on Canadian exchanges, it may be best to first start your research off of the broker’s platform, come up with some companies you’re interested in, and then search for them on Fidelity’s site.

For example, the equity screener at OTCMarkets is able to look exclusively for Canadian investments. We found 2,425 of them. These trade over-the-counter, so they tend to be small companies. It’s possible to look inside specific economic sectors or in all industries. We found Bombardier, Inc., which trades under the symbol BDRAF. It is based in Quebec.




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