2019: Can I buy Canadian stocks on M1 Finance? Does M1 Finance offer trading penny stocks, medical marijuana stocks (Aurora Cannabis, Canopy Growth, Cronos, Tilray) from Toronto Stock Exchange?

Does M1 Finance Offer Canadian Stocks?

If you’re in the hunt for Canadian or medical marijuana companies, there are several brokerage firms that provide access to them. M1 Finance is one of them; and although it’s a bit difficult to find these types of securities on its platform, we’re going to point you in the right direction.


Buy Cronos Stock on M1


Canadian Investments at M1 Finance

All trading at M1 Finance is in Pies. These are baskets of stocks and ETF’s. You can create your own or buy and sell Pies that M1 has created. Technically, it’s not possible to invest in individual stocks and ETF’s at M1, although a Pie can have a single stock or ETF.

One Pie we found at M1 that had some Canadian stocks in it is the broker’s Financials Pie. This basket has TD Bank (3% of holdings) and Royal Bank of Canada (another 3%). The other 94% of the Pie is made up of non-Canadian stocks.

If 6% isn’t enough for you, you could put one Canadian stock in a Pie and trade that. We did just that with BHC, Bausch Health Companies, Inc. This company specializes in medical devices and consumer health. Its products are used in dermatology, ophthalmology, and other areas. Based in Quebec, the business has billions of dollars in revenue.


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Marijuana Stocks at M1 Finance

In addition to mainstream health companies, we also found cannabis companies operating out of the Great White North. For example, we found Aurora Cannabis, The Cronos Group, Tilray, and Canopy Growth on M1’s platform.


Buy Canopy Growth Stock on M1


How to Use M1 Finance’s Screener

Using M1’s stock screener to find Canadian pot stocks isn’t the easiest thing in the world to do. The software doesn’t offer the ability to search for American Depository Receipts (the four companies mentioned above are ADR’s). Furthermore, the software can’t search based on geographic region, and forget about the OTC marketplace.

So how did we find these four stocks? We did it by selecting healthcare as the sector. This produced 695 stocks. Most on this list are American enterprises, but some of them are foreign, and a small subset of these is Canadian. There is no method to separate the Canadian securities from the non-Canadian, so it helps if you know beforehand what specific companies you’re looking for.

One other feature on M1’s screener that can help find Canadian investments is the industry selection, available after specifying economic sector. When we selected ‘Drug Manufacturers’ as the industry, we found Tilray.

The profile page for Tilray on M1’s website shows price history back to 2018 when the stock began trading. The market cap is shown as $7.5 billion. The space for P/E ratio is blank, which usually means the company has negative earnings. There are news articles for the stock, and it can be added to a watchlist.


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Comparison

Looking at some of the other players in the industry, we can see that M1 Finance is doing well in the realm of Canadian stocks. For example, Fidelity’s equity screener can look for investments trading exclusively in the over-the-counter marketplace, and many Canadian stocks can be found here. However, Fidelity charges $5 for stock trades while M1 is at $0.


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