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

Does USAA Offer Canadian Stocks?

If Canadian or marijuana equities are on your radar, USAA’s brokerage division has some resources that will help you tap into these investments.


Canadian Securities at USAA

The USAA equity screener is a good place to begin your search for any type of stock investment. While the search tool does a decent job of looking for U.S. assets, it is a little difficult to use for Canadian stocks (but you can find them with some effort).

The search tool doesn’t have the ability to look by exchange, which means you won’t be able to select the Toronto market or America’s over-the-counter venues. It also doesn’t have the ability to search by geographic region, so it’s not possible to specify Canadian companies. Finally, the screener isn’t able to look for American Depository Receipts (ADR’s); so you really have to use some elbow grease to get the job done here.

Probably the best way to use the broker’s equity screener to look for Canadian companies is to search by sector. This is possible, and if you know what company you’re looking for, you can find it in the results.

For example, selecting financials as our economic sector, we browsed through the results and found The Bank of Nova Scotia (ticker BNS). This is an ADR that trades on the New York Stock Exchange with an average daily volume of almost a million shares.


Buy Aurora on USAA


Cannabis Companies

Selecting healthcare as the sector, we found many companies (mostly American firms but also foreign enterprises) engaged in a variety of medical trades. There were 779 stocks to be exact. Obviously, it’s a little tedious to search through this list and pick out the Canadian firms (the screener won’t tell you the nationalities of the results).

On the list of 779, we found several Canadian firms engaged in the manufacture of cannabis. These companies include Tilray, Aurora Cannabis, The Cronos Group, and Canopy Growth.


Buy Cronos on USAA


USAA has helpful information on Canopy Growth. Its ticker symbol is CGC. Inputting this symbol in the search field on USAA’s site produces a drop-down box with brief information on the stock. A small graph is displayed, the stock can be added to a watchlist, and a trade button appears at the bottom.


Buy Canopy Growth on USAA


More detailed information can be found by going to the stock’s profile page (available from the stock screener or from the brief box). CGC has options outstanding, and these can be traded on the USAA platform. An earnings tab shows recent quarterly results, and they are mostly negative.


Comparison

Compared to some rival brokerage firms, USAA has some weaknesses in global trading. Firstrade's stock screener, for example, is able to look explicitly for ADR’s. This makes the search for Canadian operations a little easier, although there are non-Canadian firms in the results. One of the greatest advantages of Firstrade’s screener is to look for over-the-counter stocks in the United States; many of these are Canadian firms. The broker also charges $0 commission on all stock, ETF and mutual fund trades.

The stock screener at Nasdaq.com offers the ability to search by geographic location, another great feature.


USAA Review and Rating

USAA Investments rating





Continue Reading