No investor likes paying commissions on trades. Some online stock brokers charge as much as $9.99 to make a quick stock trade, and we think that's ridiculous.
Related: 5 Mobile Apps We Can't Live Without
Many investors and traders have turned to the Robinhood app to get commission-free trading on so many different stocks, but now there's an alternative.
What is Matador?
Matador is the first commission free social trading app that lets you trade and network with your friends. It helps investors and traders find inspiration and allows users to learn more about the markets as you transact. Additionally, this social component allows users to share their own insights with followers and become a top investor with a following.
One question we get asked pretty often is: Can I trade marijuana stocks on the Matador app?
Well, there's good news and bad news...
Bad News First
A majority of existing marijuana stocks are either traded on the OTC markets, or traded on foreign markets such as the TSX Ventures Exchange, the CSE, the Frankfurt Stock Exchange, the Tel Aviv Stock Exchange, or the Australian Securities Exchange. Therefore, these foreign-listed and over-the-counter marijuana-related stocks are unfortunately unavailable for trading on the Matador app at this time.
For investors who can't be without access to foreign-listed marijuana stocks, Fidelity offers customers access to over 20 different market centers worldwide. For the investors who can't be without OTC-listed marijuana stocks, E*Trade offers OTC access as well as discounted commissions for active traders.
The Good News
According to Matador's website, they hope to offer access to OTC equities, foreign domiciled securities and more in the future.
Until then, there are still a handful of marijuana related stocks that trade on the NYSE as well as some cannabinoid biotech stocks trading on the Nasdaq exchange that are all available for trading commission-free on the Matador app including:
For more information on any of the marijuana stocks mentioned, be sure to check out their stock profiles in our marijuana stocks database (also linked in tickers above). Be sure to subscribe to one or more of our free e-mail newsletters so you never miss an important marijuana stock update. Also, don't forget to connect with The Daily Marijuana Observer on social media via Facebook, Twitter, StockTwits, YouTube, and Instagram.