How to invest in Canadian stock through TD Ameritrade?

Some time ago, I invested through TD Ameritrade in Canopy Growth*, a company traded on the Toronto exchange. I couldn’t figure out how to do it because the stock symbol listed on TDA was different than the one actually used on the exchange. I ended up contacting my TDA person.

So, now it’s Saturday when my TDA person is out of the office. (Plus, the person handling our account has left the company and whoever has taken over her accounts has never reached out to us, so I’m not even sure who to email – but that’s another post.) I’d like to buy some shares of a Company called Lineage Grow. It’s traded on CNSX under the symbol BUDD. I’d like to place an order for 1000 shares now**, figuring the order will be consummated Monday morning.

How do I do it? TDA symbol lookup has been no help.

  • Because who wouldn’t want a stock whose symbol is WEED? Plus, we’ve done very well with it.

** Makes me sound like a big investor, but shares are currently running about $.25 US. Lineage Grow apparently wants to be the cannabis equivalent of a craft brewery. I think they have potential.

This post on reddit seems to have relevant information.

There are two ways to do this. The easiest was is to see if there’s an ADR for Lineage Grow like there is for Canopy Growth. This would give you an easy way to place the trade online. For example, the ADR symbol for Canopy Grow is TWMJF, and that symbol can be traded online. These 5 letter symbols ending in F or Y allow you to place the trade just as if you’re trading IBM or GE.

I’ve done some checking and I don’t see a 5 letter ADR symbol for Lineage Grow. So, if there isn’t one, the only way to place the trade is to place it directly on the Toronto Exchange, this will probably be cost prohibitive.

I’d suggest calling TD Ameritrade and ask for their assistance in looking to see if there is a 5 letter symbol for Lineage Grow. Just call their 800 number, ask for a broker to help look up the symbol for a Canadian company that trades on the TSX and see if there’s a USA equivalent symbol.

Sorry, if this sounds more complicated that it actually is. It’s really a simple process and one of the brokers on the Ameritrade 800 number should be able to help and they’re open 24/7

LOL! The T in TD stands for Toronto, for chrisake, and you can’t place a trade on the TMX?

Anyway, does TD Ameritrade allow you to set up a Canadian trading account? On the TD Direct (the Canadian equivalent) you can set up either an account that trades TMX stocks and/or NYSE and NASDAQ. You can ask whether such an account is available on Ameritrade.