Top brokerage companies to buy cannabis stocks. Best stock brokers for investing in CBD, hemp, medical marijuana stocks.

Canada became the first major world economy to legalize cannabis for both medical and recreational use. Now the U.S. is following in our neighbor’s footsteps.

Below we are listing the best U.S. brokers for buying medical marijuana stocks in 2022. Both brokerage companies have $0 commissions and no account maintenance or inactivity fees:

Ally Invest rating

  • Stocks & ETFs: $0
  • Options: $0.50 per contract
  • Mutual Funds: $9.95
Promotion: Up to $3,000 cash bonus + $0 trades + transfer fee rebate.

Ally Invest is an excellent brokerage firm for price-conscious investors. Stocks (including cannabis companies) and ETFs commissions are hard-to-beat $0.

This low cost broker gets top marks for a history of excellent customer service and its interactive trading platform, which is fully customizable and user friendly. Beginners will appreciate the ease of use of the trading tools. Ally's investment research tools are also intuitive and easy to understand.

New investors can take full advantage of the company's excellent education center, which allows users to gain more knowledge on investing strategies. There is even a section dedicated to “Rookies” where beginners can learn the basics on everything, from bonds to options trading strategies.

Ally Invest's investment choices are inline with bigger names in the industry, and even include forex trading which few other online brokers offer.

Ally Invest's top advantages are:

  • Very low trading commissions (including marijuana stocks)
  • No minimum to open an account
  • No account inactivity or maintenance fees
  • Free DRIPs (dividend reinvestment plans)
  • Advanced trading tools, interactive charts, and user-friendly platform
  • Great bonus offer with no minimum deposit requirement
More in Ally Invest Review »

Webull Rating

  • Stocks & ETFs: $0
  • Options: $0 per contract
  • Crypto-currencies: $0
  • Mutual Funds: n/a
Promotion: Grab your last chance to get 6 free stocks valued up to $12,600.

Webull is the lowest cost brokerage firm that offers an amazing price—rock-bottom $0 commission on all trades! Don't look for a catch—there is none. They make money on optional services which nobody is forced to use.

Webull is rated the best priced broker for stock, ETF, and crypto investors as well as for options traders. The broker's top advantages include:

  • $0 commissions on all products
  • Low margin rates
  • No inactivity or account maintenance fees
  • Free DRIPs (dividend reinvestment plans)
  • Clean and easy to navigate website
  • $0 minimum to open an account
More in Webull Review »

Most Popular Cannabis Stocks - Canopy Growth

Canopy Growth (CGC, $51.60) is probably the most famous cannabis stock out there right now. Shares in Ontario-based Canopy Growth – which started trading on the New York Stock Exchange in May – have catapulted by roughly 50% in the past three months alone, and that includes a significant pullback it suffered along with the rest of the market.

Canopy Growth Stock Chart

CGC – the first publicly traded cannabis company in North America, and the first one to be listed on the NYSE – provides both medical and recreational cannabis through several different brands, including Tweed, Spectrum Cannabis and DNA Genetics. With these brands, CGC can span the full range of offerings from adult use, beauty and nutraceuticals to pharmaceuticals and over-the-counter pain and sleep.

Constellation Brands

If you are looking for marijuana exposure but don’t want to get burned, it’s worth taking a closer look at Constellation Brands (STZ, $197.31). This is an alcoholic beverage giant that boasts brands such as Corona and Modelo beers, Svedka vodka and Robert Mondavi wines. However, STZ is now also making a sizable bet on the pot market.

Constellation Brands Stock Chart

To be precise: Constellation brands poured $4 billion into Canopy Growth for a massive 38% stake in August, up from 9.9% previously. And that’s not all: the deal also includes further warrants enabling CGC to boost its stake to over 50% if it so chooses.

GW Pharmaceuticals

U.K.-based medical cannabis developer GW Pharmaceuticals (GWPH, $214.25) is breaking boundaries in the marijuana space. The company has just launched a liquid formulation of purified cannabidiol (CBD). The drug, known as Epidiolex in the U.S., is designed to treat severe childhood epilepsy caused by Lennox-Gastaut syndrome (LGS) or Dravet syndrome.

This is the first drug derived from marijuana to be approved by the U.S. Food and Drug Administration (FDA). Unlike marijuana, CBD doesn’t contain tetrahydrocannabinol, or THC, so it has no psychoactive effect. However, CBD is enjoying rapidly rising attention for its reported benefits for everything from anxiety to chronic pain.

Best Marijuana Stock Brokerage Firms

Ally Invest is the definition of low cost discount brokerage firm and is worth taking look at. The broker's commission plan is the best among the largest stock trading companies out there.

Ally is not compensated by balance minimums or high account fees. In fact, the broker has no minimum funding level to open an account and do not charge set up or annual fees. Another great features of the brokerage firm is no-fee IRA accounts.

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