Technology / 7 Best Smartphone Apps for Cannabis Investing

7 Best Smartphone Apps for Cannabis Investing

Updated on November 17, 2022 | by Alex Smith

Cannabis Investing

Investing in marijuana used to require a brokerage account, a library, and thousands of loose dollars. Stock-trading apps changed the game. Trading is now affordable and accessible to all.

One exciting area of expansion is the cannabis market. Fledgling traders see weed stocks as an efficient way to advance their wealth. Public shares for global retailers, autoflower innovators, and medicinal marijuana companies are now yours for the taking.

Also, Read About: Extending the Smartphone: Mobile Apps Bring New Functions

Are you ready to trade stocks from these prolific businesses? Join the Green Rush on the go with these seven smartphone investment apps.

Robinhood

Account minimum: $0

Account fees: $75 ACAT outgoing transfer fee; $5 a month for Robinhood Gold

Trading options: Stocks, EFTs, options, cryptocurrency, fractional shares

Robinhood is a micro-investing app founded in 2013, marking the beginning of zero-commission brokerages. It boasts one of the most streamlined mobile platforms in the industry. You can start trading with a single dollar on your account.

Besides trading, the app boasts diverse information sources. The ‘Gold’ membership further expands the available data.

This mobile platform includes a news feed, candlestick charts, and customizable alerts. It allows users to tune into real-time earning calls, too.

Robinhood is perfect for beginners. Its low barrier to entry and focus on individual taxable accounts allows everybody to trade cannabis stocks.

Stash

Account minimum: $0 ($5 for Smart Portfolios)

Account fees:  $75 ACAT outgoing transfer fee, $1–$9 account management fee

Trading options: Stock, Bonds, EFTs, fractional shares

Stash is a 2015 app geared towards newbies, emphasizing practical investment knowledge. The platform offers automated management and advisor tools, helping beginners diversify.

The app lets you enter the stock exchange with a small startup budget. The one financial drawback is that this platform requires monthly subscription payments.

This streamlined interface offers an excellent breakdown of relevant information. Robot investors remain hands-off until needed, giving hints for the best stocks to purchase.

Stash is perfect for novices who need light handholding through their first trading experiences. Its function scope might be too limited for old-school and experienced users.

SoFi

Account minimum: $0

Account fees: 1.25% crypto transactions

Trading options: Stocks, EFTs, fractional shares, cryptocurrencies

SoFi is a commission-free and education-first investment platform. It launched in 2019 to cater to rookies and people looking to automate. You can start trading with as little as $1.

Users get access to certified financial planners for no-cost consultations. There’s also a robot advisor and a selection of optimized scripts. Pick a portfolio and let the app buy and sell for you, or take a more hands-on approach and choose your purchases.

The interface is clean and no-frills, with simple functions and fintech tools to complement your trading activity. The round-the-clock customer support is top-line and responsive.

SoFi might not cater to advanced traders, but beginners can benefit from its simplified layout. It’s the ideal long-term platform for casual investors.

Webull

Account minimum: $0

Account fees: $0

Trading options: Stocks, EFTs, options, cryptocurrency, ADRs

Webull is proof that commission-free and simplicity-first apps aren’t only for beginners. It incorporates in-depth analysis tools, advanced charting, and global portfolio-building tools.

This tech-centric app ranks high in terms of financial accessibility. Start trading for as little as $1 and pay no commissions for bank transfers. 

Webull mobile is straightforward and interactive, with user-friendly takes on advanced mechanisms. The tutorial is comprehensive, introducing you to all relevant tools, and the widget enables on-the-go trading.

This app appeals to new generations investing in marijuana and old-school active traders. The only downside is its comparative lack of educational content, throwing novices in the lurch.

M1 Finance

Account minimum: $100

Account fees: $125 annual fee

Trading options: Stocks, EFTs, REITs

M1 Finance is a robo-advisor app founded in 2015. It provides automated management, putting a modern twist on traditional brokerages.

The platform boasts excellent goal tracking and a high level of customization. It features 60 pre-build portfolios for you to screen and select. You can also create an account from scratch.

The app has outstanding ease of use, with clear performance metrics and clearly labeled navigation buttons. The desktop and mobile versions are interchangeable, letting you trade from any device.

M1 Finance is perfect for hands-off investors. It’s not beginner-friendly, though, requiring at least intermediate knowledge for success. The complexity and higher costs are suitable for those with loftier trading ambitions.

Wealthfront

Account minimum: $500

Account fees: 0.25% AUM

Trading options: Stocks, EFTs, cryptocurrency

Wealthfront launched in 2008, remaining a leading robo-advisor and goal-planning tool since. Its sophisticated financial planning mechanisms create portfolios based on your monetary goals.

The app outline revolves around particular plans, offering stocks that meet your goals. Its interface is slick and functional, letting you adjust metrics and personalize the interface.

The educational section features a blog, ebooks, and videos. There are guides on various topics, from using a portfolio to retirement planning.

This app requires an initial investment and presents complex data, despite its education vertical. As such, it’s perfect for experienced traders and high-net-worth individuals.

TradeStation

Account minimum: $500

Account fees: $0

Trading options: Commission-free stocks, ETFs, options, cryptocurrency

TradeStation used to focus on wealthy, active, and experienced traders. It recently removed funding requirements and platform fees, introduced crypto, and launched an educational platform. It now attracts all-level users seeking stability and reliability.

Unlike many alternatives, this platform has direct market access. Trade execution is faster without third parties, giving you a competitive advantage.

You can program an automated market strategy and have your account buy and sell instantly. The test-drive simulator lets you run through scripts before putting them into practice.

This platform is professional and pricey, but it might baffle beginners. It’s best suited for advanced investors looking to computerize their market activities.

Easier Investments Today

These weed investing apps cater to every stockholder, no matter their budget and experience level. Try several and see which one you like best—the selection is too broad to settle for anything but the perfect trading tool.

Why not dive into the cannabis market on all fronts? Buy seeds to grow weed, and purchase stocks to increase your capital. It pays to pay attention to this booming industry.

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