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

Can I Trade Canadian Stocks at Firstrade?

If you want to buy and sell Canadian equities, but don’t have a Canadian brokerage account, there are still methods available to you. Some American brokerage firms do offer access to Canadian securities, and Firstrade is one of them.


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Finding Canadian Stocks with Firstrade’s Screener

When we logged into our trial account at Firstrade, the first thing we did was launch the stock screener (by clicking on “Research & Tools” in the top menu and then selecting “Screeners”).

There are a few different methods available on the stock search tool to find Canadian companies. One is to check the box next to “Universe” under “Market Segment”. Here, you’ll be able to select “International (ADR only)”. When you do, the screener will return American Depository Receipts. Many of them will be from countries other than Canada, but Canadian firms will be included in the results. There’s a column in the search results for exchange country. Canadian equities will be shown with CAN.

The next option is to select “Exchange” under “Market Segment” and click on the OTC exchanges. This will produce a few thousand over-the-counter securities, some of which will be Canadian. Again, these will be labeled CAN.

The final method to find Canadian companies is to narrow down your focus to a particular economic sector, like pharmaceuticals or healthcare. You can do this by choosing “Stock Sector” on Firstrade’s screener and then picking the sector you’re interested in.


Cannabis Stocks on Firstrade

Using the stock sector selection, we narrowed down our results to “Drug Manufacturers – Specialty & Generic.” This returned a lot of different stocks from a lot of different countries trading on a lot of different exchanges. Some of these are Canadian firms that produce medical marijuana. They include Canopy Growth Corporation, The Cronos Group, Tilray, and Aurora Cannabis, Inc.


Buy Canopy Growth on Firstrade


Tilray’s profile page at Firstrade shows three stars out of five from Morningstar. There’s also a valuation from the same analyst. The fair value is judged to be $95.49, with very high uncertainty. On the day we did our research, TLRY was trading at $73.29.


Buy Tilray on Firstrade


There’s a chart on Firstrade’s profile for Tilray, but it only goes back to July of 2019. The stock is apparently a recent entrant onto the Nasdaq, where it trades.

Tilray has high volume (about 2.4 million shares a day on average), but its metrics don’t look very well. For example, its Price/Sales ratio is 194, and its consensus forward P/E ratio is 2,500. The company’s operating income is also negative for each year reported.


Buy Cronos on Firstrade


Comparison

While WellsTrade offers Canadian stocks, they are more difficult to find with the broker’s screener. For example, it’s not possible to search explicitly for ADR’s using WellsTrade’s software. The search tool also doesn’t have the ability to search on the OTC exchanges; although these securities are available at Wells.

TD Ameritrade has a screener with the ability to search for ADR’s, although the broker’s commission is much higher than Firstrade’s ($6.95 versus $0).


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