California, the first state to legalize medical marijuana back in 1996, became even more pot-friendly in 2016 when it made it legal to use and carry up to an ounce of marijuana without a prescription.
A broker is an individual or parties (brokerage firm) that arranges transactions between a buyer and a seller for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Distinguish agent âone who acts on behalf of a principal.
During the process of opening your brokerage account, youâll likely be asked if you want a margin account or a cash account. A cash account is a standard brokerage account, as described above. A margin account allows you to borrow money from the broker in order to make a trade.