How to Buy Stocks with a Credit Card 2022

 

Credit cards have become one of the most popular means of paying for goods and services. However, several investors still wonder if they can buy stocks with credit card online. If you want to know more about  investing in stocks, read this amazing guide on how to invest in stocks 2022 for beginners.

This guide explains how to buy stocks with a credit card and why many investors now prefer this payment option.

How to Buy Stocks with a Credit Card in 2022 – Quick Steps

To buy stocks with a credit card for zero deposit fees, we recommend using the social trading platform eToro. Follow these quick-fire steps to get started;

  1. Open an account with eToroHead over to eToro and click on ‘Register’ to open the registration portal. Type in the relevant details and click on ‘Create Account’ to sign up.
  2. Verify account – Submit a snapshot of your driver’s license or government-issued ID card and a copy of your utility bill
  3. Deposit – Click on ‘Deposit Funds’ to make a deposit. Select ‘Credit/Debit Card’ and insert a minimum value of $10 and click on ‘Deposit’ to fund your account.
  4. Buy Stocks – Type the ticker symbol into the search bar and click on ‘Trade’ to open the order page. Insert how much of the stock you want to buy and click on ‘Open Trade’ to complete the process.

Where to Buy Stocks with Credit Card

This section reviews some of the best stock brokers that allow investors to use a credit card to buy stocks. These brokers have been selected based on critical factors like fees, regulation, robust payment methods, and overall trading experience.

  • eToro – Overall Best Broker to Buy Stocks with Credit Card

eToro takes the top spot on the overall best brokerage firm to buy stocks with credit card. The social trading platform operates as a social community for investors and traders. 

>>> Find Stocks on eToro <<<

68% of retail investor accounts lose money when trading CFDs with this provider.

 

Coupled with this is the platform’s highly intuitive user interface. Executing market orders is easy, and eToro offers real-time price data. 

With eToro, buying stocks with a credit card is as straightforward as it gets. Once your account is funded with your credit card, you’ll be greeted with a series of innovative features such as the CopyTrader option. eToro’s CopyTrader feature allows you to mirror the successful trades of more advanced traders. This way, they can hedge their risks while simultaneously turning profits. 

eToro also provides an in-house asset management database called CopyPortfolio that helps investors diversify their investment portfolios across top-performing industries and regions.

The online stock trading app also offers exposure to over 17 international markets spanning over 3,500 tradable assets in terms of market coverage. These include stocks, bonds, shares, exchange-traded funds (ETFs), and indices. Buying stocks and ETFs on eToro sees you enjoy zero commission trades coupled with zero deposit fees for all payment channels. To learn more about stock trading apps, find 5 best stock trading apps 2022 with low fees.

You can fund your account with a bank wire transfer, credit/debit card, PayPal, Skrill, Neteller, and several payment options. 

The initial minimum deposit is pegged at $10 for UK and US users, with a fixed minimum of $50 after that. Users from other regions can check out the support page for reasonable rates.

Pros

  • Heavily regulated
  • Zero commission on stocks and ETFs
  • CopyTrader and CopyPortfolio for profit maximisation
  • Offers large library of tradable assets

Cons

  • Dollar-denominated accounts

>>> Find Stocks on eToro <<<

68% of retail investor accounts lose money when trading CFDs with this provider.

2. Webull – Top Broker To Buy Stocks with Credit Card For Zero Minimums

If you are considering another option to buy stocks with credit card then Webull should fit in. Webull is a global brokerage firm based in the US with over a decade of financial investment services experience.

 

The broker is regulated by the US Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA), and is also a member of the Securities Investor Protection Corporation (SIPC), which protects your funds up to $500,000. 

 

The Webull desktop application is user-friendly and easy for beginners and advanced traders. This comes with powerful trading tools coupled with the Nasdaq TotalView, which gives more concise data on companies and market trends and helps identify profitable trading opportunities. 

 

In terms of fees, Webull offers zero commissions on stock trading, charging only a spread fee in the highlighted asset. The broker also doesn’t require a minimum deposit, meaning you can get started with any amount you are comfortable with. Supported payment methods include bank transfer, credit cards, debit cards, and other e-wallet solutions. 

 

You can easily trade stocks, options, ETFs, and the American Depository Receipts (ADRs). 

 

Pros

  • Zero commission trading
  • Zero minimum balances
  • Intuitive stock trading platform

 

Cons

  • Fee structure is unclear

>>> Visit Webull <<<

Your capital is at risk.

 

How to Buy Stocks with a Credit Card on eToro – Tutorial

 

Here’s a comprehensive guide on how to buy stocks with credit card on eToro.

  • Open an account with eToro

Visit the official eToro website, click on ‘Join Now’ and enter your details. 

Click on the ‘Create Account’ button to move to the next stage. eToro also offers a quick sign-up option with your Google or Facebook account.

 

2. Verify account

eToro is a fully regulated broker, which means you need to complete the know-your-customer (KYC) process to unlock the platform’s full potential. However, you can still deposit without completing the KYC process, but this would likely limit how much you can deposit or withdraw.

 

To verify your account, upload copies of your passport and a recent utility bill.

 

3. Deposit

Deposit on eToro is super-easy, and you can complete this process by tapping on the action tab. Once there, locate the ‘Deposit Funds’ button and click on it to access the deposit page. Select ‘Credit/Debit Card’ and insert how much you want to fund your account. eToro will not charge you any fees for using this medium. Click on ‘Deposit’ to complete the process.

4. Buy Stocks 

Once a deposit is confirmed, you can now buy your preferred stock asset. To do this, type in the ticker for a preferred asset into the search bar. Select the relevant popup result to access the asset page. While here, you can learn what other traders know about the asset in question. Click on ‘Trade’ to open the purchasing page and insert the amount you want to invest.

 

 Set your stop loss (SL), take profit (TP) levels, and set your leverage at a suitable position. Once you are comfortable with your trade, click on ‘Open Trade’ to execute your trade.

>>> Find Stocks on eToro <<<

68% of retail investor accounts lose money when trading CFDs with this provider.

Why Buy Stocks with Credit Card?

Buying stocks with credit card comes with huge benefits. Here are a few:

  • Faster Way of Buying Stocks

Credit cards are way faster than traditional payment methods like banks. For instance, depositing with a bank transfer usually takes 3 to 5 days. However, a credit card deposit usually takes minutes allowing you to tap in on potentially profitable moves.

  • Payment Protection

Credit cards are known for better protection than debit cards against fraud. The Consumer Credit Act Section 75 provides credit card users coverage for purchases between $150 to $35,000. 

 

This way, you get covered in the event of a loss-making it very unlikely to lose your funds.

  • Encryption

Another major positive about using a credit card is that your payment details are encrypted. Although not all brokers offer this, eToro encrypts all payment information, reducing the likelihood of an infringement.

  • Cashbacks

A few credit card issuers incentivise usability by rewarding customers with cashback rewards. This means that every time you complete a purchase with a credit card, you get a percentage back in returns or points, which you can swap later to cash rewards. This is not possible with any other payment option.

>>> Find Stocks on eToro <<<

68% of retail investor accounts lose money when trading CFDs with this provider.

Conclusion

Credit card purchases are a norm in our current society due to the convenience of speed, rewards, and payment protection. Even though credit card purchases for stocks are still novel for a few brokers, eToro allows you to buy stocks with credit card and with zero deposits. 

 

This is better coupled with the fact that you can use the CopyTrader to increase your chances of turning a profit on your trades while enjoying zero-commission trades.

 

>>> Find Stocks on eToro <<<

68% of retail investor accounts lose money when trading CFDs with this provider.

FAQs

  • Can you use a credit card to buy Stocks? 

Yes, you can buy stocks with your credit card easily and with zero deposit fees. All you need to do is register on the eToro platform and make a minimum deposit of $10 to get started.

  • Where can I buy stocks with a credit card?

Only a few brokerage firms offer credit card support for stock purchases. We recommend using social trading leader eToro due to the zero-commission trades and zero deposit fees.

Source: bettingads

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Nelson Campelo

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