Buy Stocks With Debit Card – How to Buy Stocks With a Debit Card in 2021

Fact Checked by Gary McFarlane

Before you decide on where to buy stocks, you’ll want to be sure that the platform supports your preferred payment method. In most cases, you’ll find numerous investment platforms that will allow you to buy stocks with a debit card.

However, it’s still crucial to ensure you choose a suitable broker that offers low fees and is adequately regulated. Therefore, if you’re looking to buy stocks with a debit card, we have written this guide to provide you with all you need to know.

#1 Broker to Buy Stocks With Debit Card – eToro

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$50Exclusive promotion
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  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
0% Commissionstart TradingOur score 10

How To Buy Stocks With Debit Card – Choose a Stockbroker

For the best brokers where you can buy stocks with a debit card, check the list below.

  • eToro – Overall Best Place to Buy Stocks With a Debit Card
  • Capital.com – Regulated Broker to Trade Stocks at 0% Commission
  • AvaTrade – Great Platform to Buy Stocks Through Leveraged CFDs
  • Pepperstone – Credible CFD Platform to Trade Stocks With a Debit Card
  • Plus500 – Popular Place to Buy Stock CFDs With a Debit Card

You can choose any of these platforms to gain access to stocks and make your purchase. However, there are certain differences to note across these platforms – such as the fees charged and the number of listed markets. As such, we have fully reviewed each of these options further down in this guide.

How to Buy Stocks With a Debit Card – A Quick Guide for 2021

The steps required to buy stocks with a debit card aren’t as challenging as you might think. Once you’re acquainted with the process, you’ll be able to complete your stock purchases in under five minutes. Below, we show you how to buy stocks with your debit card at a 0% commission stockbroker like eToro.

  • Step 1: Open an eToro Account – Before you can buy stocks on this platform, you’ll first have to create an account. Here, the broker will ask that you provide some personal information. You’ll also have to choose a username/password.
  • Step 2: Provide ID – As a regulated stockbroker, you’ll have to validate your identity before you can buy stocks with this broker. You can complete this step by simply uploading a copy of your passport.
  • Step 3: Make a Deposit – This top-rated broker supports different payment options. However, since you’re looking to use your debit card, you’ll have to choose this payment option from the list provided. You can deposit a minimum of $50 and if you’re from the US – no fees apply. Otherwise, you simply need to cover a small FX charge of 0.5%.
  • Step 4: Search for Stocks – This is the stage where you find the company in which you want to invest in. To do this, you’ll search the company name and click ‘Trade’ to proceed to the next step.
  • Step 5: Buy Stocks With Debit Card – eToro will then provide you with an order box where you’ll decide the amount you intend to invest in the stock you’re buying. The minimum you can invest here is $50. After inputting your stake, then you can open the trade to complete the entire investment process.

With this brief guide above, you can buy stocks with a debit card in less than five minutes. Notably, however, the guide is a quick walkthrough, meaning it doesn’t provide a comprehensive explanation of the process. If you’re a beginner and need more information concerning these steps, you’ll find a full walkthrough as you continue reading.

Note: Should the stock exchange through which you want to buy your shares be closed for the day, you have the option of setting your order. Meaning, the broker will automatically complete the purchase on your behalf once the stock exchange opens the following day.

67% of retail investor accounts lose money when trading CFDs with this provider.

Where to Buy Stocks With Debit Card – Full Stockbroker Reviews

As a smart investor, you’ll want to know about the best brokers in the market before you decide on where to buy stocks with a debit card. The process of finding the most suitable stockbroker can be exhausting, especially if you’re new to this space.

Therefore, our research team has done the hard work for you and come up with the best platforms for this purpose. Considering credibility, fee structure, and many other key metrics, below are the top platforms where you can buy stocks with a debit card.

1. eToro – Overall Best Place to Buy Stocks With a Debit Card

bitcoin today

eToro is a credible stockbroker that has been operating in the industry since 2006. Over the years, the stockbroker has established its presence as a notable platform to buy stocks in a seamless manner. The end-to-end process of completing the purchase takes just five minutes once you understand the steps involved. Start by creating an account, verifying your identity, and proceeding to buy stocks using your debit card.

Furthermore, the stockbroker charges super competitive fees. When you add funds to your account with your debit card, the broker will charge you a fee of just 0.5% (free for US investors). After making this deposit, you can access the stock you desire on a 0% commission basis. This is notable because most trading platforms will charge a commission when you both buy and sell stocks. Additionally, if you want to buy UK shares, you won’t incur the standard 0.5% stamp duty fee at eToro.

etoro review

Additionally, eToro gives you access to no less than 17 stock exchanges. This includes stocks listed in the US, Europe, the Middle East, and more. For all listed stocks, you can start your purchases from a minimum of just $50, making the markets accessible to investors with small budgets. This is the case regardless of how much the stock is priced at. For instance, instead of needing to invest over $2,700 to buy Google stocks, you can simply allocate $50.

Another reason that makes eToro a top-rated option is that the broker allows you to buy other assets aside from stocks. Once you fund your account, you can proceed to buy ETFs, cryptocurrencies, index funds, and even renewable energy.  Furthermore, with the broker’s copy trading tool, you can replicate the positions of an experienced investor. Additionally, the broker also has a research section where you can learn more about the stocks you are considering buying.

Pros

  • Invest in stocks at 0% commission and ZERO stamp duty
  • Minimum investment per stock investment is $50
  • Supports debit/credit cards, e-wallets, and bank transfers
  • FSCS-covered and regulated by the FCA
  • 20 million+ users
  • Beginner-friendly
  • Social and copy trading tools

Cons

  • Perhaps too basic for technical traders
  • No support for MT4 or MT5

 67% of retail investor accounts lose money when trading CFDs with this provider.

2. Capital.com – Regulated Broker to Trade Stocks at 0% Commission

capital.com review

Although launched in 2017, Capital.com has grown to become a reputable broker for buying stocks. One of the perks of this platform is that it supports different payment methods – including debit cards. After depositing a minimum of $20, you can proceed to buy the stocks you want. This payment option has a low minimum deposit requirement as opposed to bank wire – which will require that you add no less than $250.

Notably, Capital.com is a contracts-for-differences (CFD) broker. Meaning, you won’t take ownership of the stocks you buy. Instead, you’ll be dealing with the underlying value, making it convenient to buy and sell stocks within short intervals. Additionally, the broker allows investors to go long and short, meaning you can make a profit from price movements, whether positively or adversely.

capital.com review

We also assessed Capital.com in terms of its fee structure and the broker has a very high score here. Notably, when you elect to gain access to stocks through this platform, you’ll be doing so on a 0% commission basis. You will also have numerous international stock and crypto exchanges that you can utilize to make your purchases. While buying stocks, you can also choose to use leverage for boosting your financial capacity.

Pros

  • Top-rated spread betting and CFD broker
  • FCA-Licensed
  • $20 minimum deposit (debit/credit cards and e-wallets)
  • 0% commission on all markets
  • Tight spreads and no fee on deposits or withdrawals
  • Supports more than 4,000 markets
  • Easy-to-use for newbies

Cons

  • Experienced traders might consider the broker too basic
  • $250 minimum deposit on bank transfers

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.25% of retail investor accounts lose money when trading spread bets and/or CFDs with this provider.

3. AvaTrade – Great Platform to Buy Stocks Through Leveraged CFDs

avatrade review

When utilizing AvaTrade to trade stocks, you can expect to complete the entire process within a few minutes. First, the registration process is super convenient and fully digital. Therefore, once you provide the relevant personal information to open an account, you can proceed to search for the stock you want to trade and make your purchase. Another notable feature in this process is the platform’s ease of use, making it convenient to navigate your way around the AvaTrade website.

Furthermore, in terms of fees, the platform allows you to trade listed markets at 0% commission. Once you make the required minimum deposit of $100, you can proceed to trade stocks. Additionally, the platform is regulated in seven jurisdictions by notable financial bodies, indicating that AvaTrade has a notable reputation for safety. The broker also offers a demo account that you can use to practice trading without using your own capital.

avatrade review

On AvaTrade, you can gain access to various markets including stocks, cryptocurrencies, ETFs, commodities, and more. For these markets, the platform is reputable for providing great research tools that investors can use to make more informed decisions. Some of the other tools AvaTrade provides include charting options and technical indicators that you can utilize to have a better understanding of the markets.

Pros

  • Licensed in 7 jurisdictions
  • All listed markets attract 0% commission
  • Offers spread betting and CFD instruments
  • Minimum deposit of just $100
  • Free demo account
  • Supports MT4 and MT5
  • Debit cards accepted

Cons

  • Spread betting department limited to just 200+ financial markets
  • No support for instant bank transfers

Trading CFDs and FX Options entail risk and could result in the loss of your capital.

4. Pepperstone – Credible CFD Platform to Trade Stocks at ZERO Spreads

pepperstone review

Another broker to consider is Pepperstone – not least because the platform has no minimum deposit. This means that you can deposit any amount to get started – even if you are looking to use a debit card. This feature makes Pepperstone a suitable platform for beginners looking to start trading stocks with a small amount of capital.

Furthermore, asides from allowing you to trade stocks with a debit card, the platform also grants you access to more than 1,000 markets, including commodities and forex. Therefore, Pepperstone is worthy of consideration if you need a platform where you can diversify your investment portfolio beyond stocks. Additionally, Pepperstone is regulated by the FCA, making it a credible option with which you can trade stocks safely. The platform also offers support for both MT4 and MT5.

peppertstone review

If you also want to enter markets at industry-leading fees, the platform offers ZERO spread accounts for that purpose. With such an account, you simply need to cover a small commission, making it possible to access the best available prices in the market. Lastly, opening an account on this CFD platform is super easy and you can complete the entire process within a couple of minutes.

Pros

  • 1,000+ markets covering shares, indices, commodities, forex, and more
  • Spread betting and CFD trading markets
  • 0% commission accounts available
  • No minimum deposit
  • Authorized and regulated by the FCA
  • Compatible with both MT4 and MT5

Cons

  • Fee policy is somewhat confusing
  • Limited educational resournces

at eToro, #1 Broker in the Stock Trading Scene

67% of retail investor accounts lose money when trading CFDs with this provider.

5. Plus500 – Popular Broker to Trade Stocks Commission-Free

plus500 review

The next stock trading platform we evaluated is Plus500 and this broker makes our list of top picks for numerous reasons. The first is that Plus500 supports debit card payments on a fee-free basis, meaning you won’t incur any cost for adding funds to your account through this option. Additionally, when you elect to use this platform, you’ll gain access to thousands of assets including stocks.

Furthermore, you can open and close positions on a 0% commission basis when using this platform. This is in addition to offering very competitive spreads. These are two key features that investors consider when assessing platforms in terms of their fee policy. Once you make the minimum deposit of $100, you can proceed to trade stocks on Plus500.

plus500 review

Additionally, placing orders on this broker is super easy when on the move — as the platform supports both Android and iOS devices. This way, you can stay updated with the market and your portfolio conveniently. Another notable perk of the platform is that it’s been in the stock trading scene for more than 10 years, contributing to the credibility Plus500 has garnered.

Pros

  • Credible CFD trading platform
  • 0% commission on all markets
  • Tight spreads
  • Mobile investment app available on Android and iOS devices
  • $100 minimum deposit
  • Supports debit and credit card payments – fee-free
  • Thousands of assets

Cons

  • No spread betting facilities
  • No support for third-party trading platforms (e.g. MT4)

at eToro, #1 Broker in the Stock Trading Scene

67% of retail investor accounts lose money when trading CFDs with this provider.

How to Buy Stocks With Debit Card – Detailed & Explained in Full

This section is prepared with more information to help you through the process of how to buy stocks with a debit card. Here, we shall explain in detail what’s involved in each of the steps earlier outlined. Using eToro, these are the steps involved.

Step 1: Open a Stockbroker Account

Before you can buy stocks with a debit card, you must first create an eToro account. This will require you to provide some personal details. You’ll see the required boxes where you’ll fill in the relevant information. Some of the required details will include your full name and social security number.

how to join etoro

eToro is a broker designed to optimize each user’s experience. Therefore, the stockbroker will ask some questions to understand your trading experience and determine the investment tools you need.

67% of retail investor accounts lose money when trading CFDs with this provider.

Step 2: Provide ID

A stockbroker like eToro is a regulated platform. The broker is licensed by numerous financial bodies including the FCA and SEC. As such, you must provide certain identity verification documents before you’re allowed to buy stocks with a debit card.

Here, you’ll need to provide a government-issued document which can be your driving license. Alternatively, you can use your passport for this purpose. Additionally, you’ll also need to provide a document containing your home address, either a bank statement or utility bill.

Step 3: Add Investment Funds

This is where you’ll need to use your debit card. eToro supports different payment options and you can utilize any of them to add investment funds to your account. Therefore, when the broker asks you to choose an option, you’ll select your debit card.

Following that, you’ll proceed to add a minimum of $50 to your account. Notably, after choosing a debit card as your payment option and confirming the deposit – the transaction will be executed instantly.

Step 4: Search for Stocks

After funding your account, you can now search for the stock you want to buy. eToro provides a search box where you can input the company name, as indicated in the image below.

After the stockbroker displays the result, click on ‘Trade’ to move on to the order box.

Step 5: Buy Stocks

Once you are presented with the order box, all you have to do is to enter the amount you want to invest in the stock you’re buying. Here, the minimum you can enter is $50.

buy stocks etoro

Notably, you don’t have to buy a stock at the full price. eToro allows fractional investments, meaning you can buy stocks with any amount from $50 upward. Once you confirm all details in the order box, you can proceed to complete your purchase.

Note: On the image above, what’s displayed is ‘Set Order.’ This means that the market is closed for the day. As such, you can set your order and have eToro complete the purchase for you once the market reopens.

How to Cash Out Stocks to a Debit Card

Every buyer who looks to purchase a stock has an ultimate plan to cash out on their investment. Therefore, once you’ve bought stocks with your debit card, you’ll wait until it becomes favorable to sell.

When the value of the stocks has risen and you want to sell, there are a few steps to take. At eToro, you can complete the sale of your stocks within a couple of minutes.

Here’s what you need to do:

  • Visit your eToro account
  • Go to your portfolio
  • Find the stock you wish to sell
  • Click ‘Sell’ to kickstart the process
  • Confirm your order

Once you confirm your order, eToro will execute the instruction and sell your stocks. Notably, this will only be instant if the markets are still open. Otherwise, the sale will have to be completed after the markets reopen. Once the broker sells your stocks, you’ll be able to process a withdrawal of your funds.

Fees to Buy Stocks With Debit Card

As a smart investor, you’ll want to understand the costs you’ll incur when buying stocks with your debit card. After all, knowing this will help you accurately estimate the possible returns on your investment. Here, we look at the areas where you might incur some fees during this process.

Deposit Fees

Brokers tend to have different fee policies which determine the cost you’ll incur when you add funds to your account. On eToro, for instance, you’ll incur 0.5% in fees (free for US clients) when you’re making a deposit with your debit card. This fee, on some other platforms, might be as high as 4%.

Withdrawal Fees

As you pay a fee when making a deposit, a similar cost is incurred during withdrawals as well. When you’re processing a withdrawal on eToro, you’ll incur $5 irrespective of the transaction size. We consider this a better option as opposed to platforms that will determine withdrawal fees based on the amount involved.

Commissions

Many platforms have different policies when it comes to their commissions. For most platforms, commissions are charged for the brokerage services offered to users. You might incur a commission when you’re buying and selling stocks — depending on the broker in question.

etoro stocks

For instance;

  • Some brokers charge a flat fee when you buy and sell stocks. For example, you might pay $15 to buy a stock and another $15 when it comes to cashing out.
  • Alternatively, you might also come across brokers that charge a variable commission. For example, you might pay 0.5% of the investment amount.
  • On the flip side, you can buy stocks on eToro without paying a cent in commission.

From these two options, it’s clear that a broker such as eToro offers the best service in terms of fees. This makes the platform a more suitable option when looking to buy stocks in a cost-effective manner.

Reasons to Buy Stocks With Debit Card

You might be curious as to whether there are tangible reasons for buying stocks with your debit card. This is an important aspect when looking to choose a broker — as buying stocks with a platform that supports the best payment options will make the process an easy one.

Therefore, in this part of the guide, we shall look at different reasons why you might want to buy stocks with a debit card.

Swift Transactions

One of the notable perks of completing stock purchases with your debit card is how swift the transaction will be. This is a crucial factor for many investors looking to buy stocks in a super-fast manner without delay.

Debit cards offer near-instant transactions. Once you provide your debit card details and the stockbroker confirms it, you can complete your investment within a few seconds.

Possible Low Fees

The cost you’ll incur when you deposit funds into your account through a debit card depends on the broker you choose. This is why a broker such as eToro stands out among others. On this platform, you’ll only incur 0.5% in fees (free for US investors) when you add funds with your debit card.

Credible Payment Option

When you examine most of the stockbrokers in the market, you’ll realize that many platforms support debit cards.

  • This is because the payment option is credible and popular.
  • Most investors utilize their debit or credit cards when buying stocks.
  • Therefore, when you choose to buy stocks with this payment option, chances are that you’ll have a long list of brokers that you can use.

Nonetheless, for low-cost services, a broker like eToro is considered most suitable for buying stocks.

Buy Stocks with Debit Card – The Verdict

When you are contemplating where to buy stocks with a debit card, you need to consider certain factors. This is because there are different platforms that support the debit card payment option. As such, you must consider the platform’s fee structure, how easy the broker makes it to buy stocks, and more.

Based on these factors, eToro is a credible stockbroker — as the platform not only allows you to buy stocks without paying commission but is also adequately regulated by top financial bodies.

eToro – Best Broker to Buy Stocks With Debit Card

1
$50Exclusive promotion
Our score10
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
0% Commissionstart TradingOur score 10

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About Kane Pepi PRO INVESTOR

Kane Pepi writes for several high profile publications such as InsideBitcoins, the Motely Fool, and Learnbonds. Based in Malta, Kane is extremely skilled at complex subjects related to financial matters - including a Bachelor’s Degree in Finance, a Master’s Degree in Financial Crime, and actively engaged in Doctorate Degree research, for the money laundering threats of the blockchain economy.