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.
1 Most brokerage firms offer at least two types of accountsâa cash account and a margin loan account (customarily known as a margin account). 2  In a cash account, you must pay for your securities in full at the time of purchase.