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How to Buy Cannabis Stocks on Wealthsimple

3.5/5

Wealthsimple Trade is Canada's first commission-free stock trading platform. It is extremely popular with younger Canadian investors for its simple mobile-first interface and zero-commission model. Wealthsimple provides access to TSX, CSE, and major US exchanges, covering most cannabis stocks. However, it does not support US OTC markets, which limits access to some US MSOs trading on Pink Sheets.

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 — US OTC not supported
Inactivity FeeNone

Pros

  • Commission-free stock and ETF trading
  • Simple, modern mobile-first interface
  • Fractional share trading available
  • TFSA, RRSP, and non-registered accounts
  • No account minimum
  • Auto-deposit feature for dollar-cost averaging
  • Canadian-owned and regulated (CIPF protected)

Cons

  • No US OTC market access — cannot buy TCNNF, GTBIF, CRLBF, etc.
  • 1.5% currency conversion fee on US stock trades (0.5% with Premium)
  • Limited research and analysis tools
  • No desktop trading platform — mobile and web only
  • Basic order types only (market and limit)
  • Cannot trade on CSE for some tickers

Key Features

Commission-free tradesTSX and major US exchange accessFractional sharesTFSA and RRSP accountsAuto-deposit DCACrypto tradingTax-loss harvesting (managed)Wealthsimple Cash card

How to Buy Cannabis Stocks on Wealthsimple: Step by Step

  1. 1

    Download the Wealthsimple app or visit wealthsimple.com/trade

  2. 2

    Sign up and complete identity verification with your Canadian ID and SIN

  3. 3

    Choose your account type: TFSA (tax-free), RRSP, or personal

  4. 4

    Fund your account instantly via Canadian bank connection

  5. 5

    Search for TSX-listed cannabis stocks: WEED, TLRY, ACB, CRON, OGI

  6. 6

    For US-listed cannabis stocks, search: TLRY, CGC, SNDL (note 1.5% FX fee)

  7. 7

    Note: US OTC cannabis stocks (TCNNF, GTBIF) are NOT available

  8. 8

    Tap Buy, enter your amount (fractional shares supported), and confirm

Frequently Asked Questions

Can I buy OTC cannabis stocks on Wealthsimple?
No. Wealthsimple 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 Wealthsimple?
Wealthsimple charges $0 commission on stock trades. The account minimum is $0. OTC fee: N/A — US OTC not supported. Inactivity fee: None.
Can I buy Canadian cannabis stocks on Wealthsimple?
Yes. Wealthsimple 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 Wealthsimple 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 Wealthsimple. ETFs are a good way to get diversified cannabis exposure without picking individual stocks.
What cannabis stocks can I buy on Wealthsimple?
On Wealthsimple, 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 Wealthsimple to open an account. Always verify current fees and features on their site.

Visit Wealthsimple

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