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How to Buy Cannabis Stocks on Robinhood

2.5/5

Robinhood popularized commission-free trading and remains one of the most user-friendly platforms available. Its simple mobile interface makes it easy for beginners to start investing in cannabis stocks. However, Robinhood does not support OTC stocks, which excludes many US multi-state operators (MSOs) — the largest and most important segment of the cannabis stock market.

Cannabis Stock Access

OTC Stocks

US MSOs like TCNNF, GTBIF, CRLBF

Canadian Stocks

TSX/CSE-listed LPs

Cannabis ETFs

MSOS, MJ, YOLO, HMMJ

Penny Stocks

Stocks trading under $1

Fee Breakdown

Fee TypeAmount
Stock & ETF Commission$0
Account Minimum$0
OTC Trading FeeN/A — OTC not supported
Inactivity FeeNone

Pros

  • Extremely simple and intuitive user interface
  • Commission-free stock, ETF, and options trades
  • Fractional share trading starting at $1
  • Instant deposits up to $1,000 for immediate trading
  • Cash card and spending features
  • 24/7 trading on select stocks

Cons

  • No OTC stock access — excludes most US cannabis MSOs
  • Limited research tools and fundamental data
  • No retirement account options on basic plan
  • Order routing practices have drawn regulatory scrutiny
  • Cannot buy many major cannabis stocks like TCNNF, GTBIF, CRLBF

Key Features

Commission-free tradesFractional sharesInstant depositsSimple mobile interfaceOptions tradingCryptocurrency tradingCash card

How to Buy Cannabis Stocks on Robinhood: Step by Step

  1. 1

    Download the Robinhood app or visit robinhood.com

  2. 2

    Sign up with your email and complete identity verification

  3. 3

    Link your bank account and deposit funds (instant access up to $1,000)

  4. 4

    Search for exchange-listed cannabis stocks: TLRY, CGC, ACB, SNDL, MSOS

  5. 5

    Note: OTC cannabis stocks (TCNNF, GTBIF, etc.) are NOT available on Robinhood

  6. 6

    Tap the stock, review the simple chart and key stats

  7. 7

    Choose 'Buy' and enter dollar amount or share quantity

  8. 8

    Consider cannabis ETFs like MSOS for broader exposure on Robinhood

Frequently Asked Questions

Can I buy OTC cannabis stocks on Robinhood?
No. Robinhood does not support OTC stock trading. This means you cannot buy most US cannabis multi-state operators (MSOs) like TCNNF, GTBIF, or CRLBF. You are limited to exchange-listed cannabis stocks and ETFs. Consider Fidelity or Charles Schwab if you need OTC access.
What are the fees for trading cannabis stocks on Robinhood?
Robinhood charges $0 commission on stock trades. The account minimum is $0. OTC fee: N/A — OTC not supported. Inactivity fee: None.
Can I buy Canadian cannabis stocks on Robinhood?
Yes. Robinhood supports trading Canadian cannabis stocks. Many Canadian licensed producers are cross-listed on US exchanges (TLRY on NASDAQ, CGC on NASDAQ), making them accessible. Some platforms also offer direct access to TSX and CSE.
Is Robinhood good for cannabis ETFs?
Yes. You can trade cannabis ETFs like MSOS (AdvisorShares Pure US Cannabis ETF), MJ (ETFMG Alternative Harvest ETF), and YOLO (AdvisorShares Pure Cannabis ETF) on Robinhood. ETFs are a good way to get diversified cannabis exposure without picking individual stocks.
What cannabis stocks can I buy on Robinhood?
On Robinhood, you can buy exchange-listed cannabis stocks like TLRY, CGC, ACB, and SNDL, as well as cannabis ETFs like MSOS. However, you cannot buy OTC-traded US MSOs (TCNNF, GTBIF, CRLBF), which represent some of the largest cannabis companies by revenue.

Ready to start trading cannabis stocks?

Visit Robinhood to open an account. Always verify current fees and features on their site.

Visit Robinhood

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This guide is for educational purposes only and does not constitute financial advice or a recommendation to use Robinhood. Cannabismarketcap may receive compensation from broker partners. Fees, features, and available securities are subject to change — always verify current terms on Robinhood's official website before opening an account or placing trades.