How To Buy Intuit Stock – Purchasing Intuit Stock For Beginners 2021

Fact Checked by Gary McFarlane

Financial services have always been big business, after all, businesses always need to ensure their books are in order. Intuit is one of the largest providers of financial services or software in the US. They own a few high-profile companies like TurboTax, Mint, and Quickbooks. Over the past year, Intuit has been steadily growing and adding more offerings to its repertoire, meaning it could be an excellent time to buy Intuit stock before prices continue increasing. 

Throughout this guide, we’ll be covering everything you might need to know before buying Intuit. This includes a detailed explanation of exactly how you can buy Intuit stock, the best brokers to do so with, and some pros and cons to buying Intuit. 

#1 Intuit Broker a – eToro

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How to Buy Intuit Stock – Step by Step Guide 2021

If you’re wondering how you can buy Intuit stock, don’t worry, you’re not alone. Many platforms make buying stock unnecessarily complex, alienating beginner investors. To prevent this from happening to any of our readers, we’ve included this quick step-by-step guide that details exactly how you can buy your first stock. If you’d prefer a more comprehensive guide, you can find one toward the bottom of the page. 

  • Step 1: Open an eToro account: Before you buy your first Intuit stock, you’ll need to create an account with a reputable broker. We recommend eToro as they provide users with an excellent balance between ease-of-use and features. Simply navigate over to “eToro.com”, press “Join Now”, and fill in the required fields. 
  • Step 2: Verify your Identity: Once your eToro account has been created, you’ll need to verify it. This is because eToro is a regulated broker and has to comply with strict rules surrounding customer protection. Luckily, the verification process is easy and all you’ll need to have at hand is a photo ID (passport, driving license) and proof of address (bank statement, utility bill).
  • Step 3: Fund your Account: Now that your eToro account has been verified, you’ve only got one more step to complete before you can buy Intuit stock! The last step before placing purchasing a stock is funding your account. To do this click on the button marked “Deposit Funds”, enter the amount you plan on prchasing, and press “Deposit”. eToro supports deposits using either a credit/debit card, bank transfer, and e-wallet (PayPal, Skrill). 
  • Step 4: Buy Intuit Stock: There we have it! You’re ready to make buy your first share in Intuit! Just type “Intuit” into the eToro search bar, press “Trade”, enter the amount you’d like to purchase, and press “Open Trade”. You’ll be able to view and manage your investment from the portfolio section of your account.

Where to Buy Intuit Stock – Choose a Broker

Before you delve two feet deep into the world of stocks, you should take the time to select a top-quality broker to place your trades with. Despite sounding easy on the surface, this process can be a difficult and confusing task. However, you needn’t worry we’ve got you covered! Below, you can find our in-depth reviews on the best brokers to buy Intuit stock with.

1. eToro – Overall Best Intuit Stock Broker 

eToro is one of the largest stock brokers in the world, currently serving more than 20 million loyal users. They’ve been operating since 2007 and since that time have implemented a huge amount of features that traders of every experience level can make use of. Overall, eToro offers an excellent blend of security, features, and convenience.  

Security

Nobody wants to log in to their brokerage one day and see their account has been emptied of all the funds it contains, trading is already hard enough so you shouldn’t have to worry about security. eToro understands this, they’re regulated by the SEC, preventing them from engaging in illicit activities behind the scenes. They use 128-bit SSL encryption to prevent hackers from being able to use client data in the event it gets intercepted. Additionally, eToro users have the option of enabling 2FA to add an additional layer of security to their account. It’ll require you to input a code that gets sent to your mobile device before you can complete sensitive account actions. In some cases, this can be the only thing preventing a hacker from stealing your funds so it’s advisable to always enable 2FA.

Features

eToro takes care of their customers, this is apparent from the features they offer. Beginners have access to all the information they could need to have a successful trading experience, through a service called eToro Academy. Users are free to browse through the information at their own pace, making it an excellent feature for beginners wanting to brush up on their skills prior to investing real money. Another useful feature for beginners is CopyTrading, a social trading system that allows users to automatically mirror the trades of another user; perfect for beginners learning about trading strategies. As well as all of this, eToro offers extremely powerful charting tools, ensuring that regardless of your investment strategy you’ll be able to use it.

eToro Fees

Fee Type Fee Amount
Commission Fee 0%
Deposit Fee £0
Withdrawal Fee £5
Inactivity Fee £10 (Monthly)

 

Pros

  • 128-bit SSL Encryption
  • Regulated
  • CopyTrading
  • Charting Tools
  • eToro Academy
  • 2FA

Cons

  • Could Benefit From MetaTrader Support

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

2. TD Ameritrade – Traditional Intuit Stock Broker 

If you’re looking for a “traditional” stock broker then you’ll be right at home with TD Ameritrade. They’ve been operating since the 1980s and despite the fact that they’ve undergone numerous name changes over the years they’re still going strong.

 

Security

As TD Ameritrade themselves state they “take security very seriously”. This is a good sign from the get-go, I think every investor will agree that security is one of the most important aspects of any brokerage. TD Ameritrade is regulated by the SEC meaning users can rest assured that they’re regularly audited. 128-bit SSL encryption has been utilized to prevent data from being intercepted by an attacker, something that is becoming increasingly common. Lastly, a unique feature TD Ameritrade offers is its user verification phrase system. When you initially create an account with TD Ameritrade, your account will be assigned a special phrase that you can request from TD Ameritrade employees to prove they’re a genuine representative of the company. 

Features

As we mentioned, TD Ameritrade is somewhat more traditional than the other platforms on our list. They offer users an enormous variety of investment products, covering everything from mutual funds to bonds, making it a great platform for anyone wanting to manage multiple asset classes on one platform. TD Ameritrade also participates in a large amount of initial public offerings (IPOs), meaning users can get the best possible prices on new assets. Automatic dividend reinvestment is another intriguing feature. Many investors buy stocks to earn dividend payments, TD Ameritrade can automatically reinvest these dividends on your behalf in a similar way to compounding interest. This can be a great tool to increase the value of your portfolio over the long term. To round off, for anyone wanting to buy Intuit stock, TD Ameritrade is a well-rounded broker with a solid track record. 

TD Ameritrade Fees

Fee Type Fee Amount 
Commision Fee 0% (on US stocks)
Deposit Fee $0
Withdrawal Fee $0
Inactivity Fee $0

 

Pros

  • 128-bit SSL Encryption
  • User Verification Phrase
  • Regulated
  • Range of Markets  
  • Automatic Dividend Reinvestment

Cons

  • Complex Interface
  • Steep Fees on Leveraged Positions

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

3. Robinhood – Easiest to Use Intuit Stock Broker

An investment giant, Robinhood currently serves more than 13 million users, an impressive feat when you consider the fact that they only operate in the US. Robinhood is a mobile-only trading platform and was designed to appeal mostly to beginners, something that is immediately apparent from the interface of the app. 

Security

Despite being bar far the youngest broker on our list, Robinhood has done well to implement some impressive security features. Robinhood users are fully covered by SIPC insurance in the event of the platform getting breached. This insurance covers investors up to $500,000 however, they also offer “excess of SIPC” insurance on balances up to $10,000,000. This is quite rare to see and a big plus for any whales on the platform. Additionally, Robinhood uses Multisig verification for any sensitive account actions, reducing the chance of a bad actor falsely confirming a transaction. 

Features

Despite being aimed toward beginners Robinhood has managed to pack its platform full of useful features, all while maintaining a sleek, simple interface. Robinhood is only available on mobile, meaning web-based traders are out of luck. Although most people in the US have a smartphone, there’s no denying it does alienate a portion of their potential customers. If you’re a Robinhood user then you’ll have access to what they refer to as “cash management services’ which in reality is simply cashback on everyday purchases. Although it sounds much more glamorous than it actually is, any form of cashback is a welcome bonus. All in all, if you’re a beginner that wants to build up some trading experience, Robinhood is a reasonably good platform to do so on. 

Robinhood Fees

Fee Type Amount
Trading Fee 0%
Credit/Debit Card Fee 3.99%
Spread Fee Variable

 

Pros

  • SIPC Insurance 
  • Excess of SIPC Insurance
  • Multisig
  • Easy to Use 
  • Mobile App
  • Simple Interface
  • Cash Management Services 

Cons

  • A Few Advanced Features Missing
  • A Bit Basic for Experienced Traders

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

Buy Intuit Stock – Broker Price Comparison

It’s easy to get lost when comparing all the different features and services offered by the top brokerages. Hence we’ve compiled a table highlighting the fee structure for each of our top Intuit brokers. 

Broker Commission Deposit Fee Withdrawal Fee Inactivity Fee
eToro 0% $0 $0 $10 monthly (after 12 months inactivity)
TD Ameritrade 0% (on US stocks) $0 $0 $0
Robinhood $0 on trades of <50 shares. Up to $5.95 on trades over 50 shares  $0 $0 $0

 

What are the Different Kinds of Stocks? 

You might be under the impression that all stocks are the same, however, in reality, that couldn’t be further from the truth. The three ways you can buy Intuit are through stocks, ETFs, and CFDs. Before you buy Intuit stock, you should understand the differences between each investment type as they all offer unique pros and cons. 

Stocks 

The most common way of investing is by purchasing shares (stock) of a company. When you buy a stock, you’re technically buying a small fraction of the company, meaning you’re a part-owner. This comes with a couple of benefits, the first being dividend payments. A dividend payment is a company’s way of paying a portion of its profits forward to investors and usually takes place either quarterly or yearly. The second benefit is voting rights. When you purchase enough shares of a company, you’ll gain the ability to vote on its future. Stocks present an excellent way of getting direct, long-term exposure to a specific company. 

ETFs (Exchange Traded Funds)

An exchange-traded fund otherwise referred to as an ETF is a type of investment that can provide immediate exposure to a variety of companies. A fund manager or brokerage will usually bundle together a group of related assets to facilitate easy investment. The main benefit of an ETF vs traditional stock is the greatly reduced risk. This is because an ETF is composed of a multitude of companies, meaning in the event of one decreasing in value, the other asset will help mitigate any losses. In contrast to traditional stocks, when investing in an ETF, you do not own any underlying assets.

CFDs (Contract For Difference)

If you’d prefer a short-term investment then you might be interested in CFDs. When you invest in a CFD instead of purchasing an asset you instead speculate on whether its price will increase or decrease. Therefore, CFDs are considered speculative investments. Typically, CFD trading happens over a short time frame and takes advantage of small price swings. Because of this, CFDs are normally leveraged instruments. While this isn’t inherently negative it can lead to large losses, meaning CFDs are typically categorized as high-risk investments. 

Best Ways to Buy Intuit Stock

Now that we’ve discussed the differences between each type of investment, it seems fitting we explore the type of investor that may best benefit from each method of investing. 

Buy Intuit CFDs

Not everyone wants to make long-term commitments, some would rather engage in multiple short-term trades. If this sounds like you then you might be best served by investing in a CFD. Because CFD trading usually takes place over a much shorter period than the other investments we’ve discussed, they are best suited to day traders or anyone not wanting to be tied to an asset for a long period. As we mentioned, CFD trading usually involves leverage which carries risks of its own. As such, we only advise trading CFDs if you fully understand the risks associated with leverage. 

Buy Intuit ETFs

Every investor has a different tolerance to risk, likely depending on your goals, strategy, and finances. Some people can’t afford to take large risks, but you should never let that deter you from investing. ETFs offer an excellent investment opportunity for investors that can’t take on a whole lot of risk. Although an ETF doesn’t provide direct exposure to Intuit, an investment in something like FINX would provide 6.48% exposure to Intuit (INTU).

Buy Intuit Stocks

Investing in traditional stocks is still a phenomenal way of building wealth and getting direct exposure to a company. If you have reason to believe Intuit is going to continue growing then investing in stock could be exactly what you’re looking for. If the price of Intuit rises, then you’ll earn more with traditional stocks vs an ETF. However, the opposite is also true, if the asset performs badly then you won’t have any other assets to mitigate the losses. Therefore, stocks are best suited to those that have a strong degree of faith in a specific company and want long-term exposure. 

Is Intuit Stock a Good Investment? 

Now that we’ve discussed the different ways you can invest, it’s only right we break down some of the positives and negatives of buying Intuit stock. This should help you gain a better understanding of if buying Intuit stock is right for you.  

Steady Growth

Over the past few years, Intuit has been growing consistently. In December 2016 the share price was around $114 but in November 2021 we reached highs of around $612, an increase of roughly 536%. Numbers don’t lie, Intuit has been performing incredibly well and outside of any catastrophic events, there’s no reason why it shouldn’t continue growing. 

Taxes

A large portion of Intuit’s earnings come from their enterprise accountancy and bookkeeping software. It’s no secret that everyone has to pay taxes and this is especially true for business owners. When dealing with a large number of transactions this becomes a confusing task, which is why many businesses use bookkeeping software. Taxes aren’t going anywhere so a business that makes paying them easier seems like a sure bet. 

Buying Intuit Stock – What are the Risks

There’s no such thing as a risk-free investment, as such it’s always worth looking at an investment from both perspectives. If you’re not careful to analyze the risks associated with buying a stock you can quickly find yourself left out of pocket. 

Paper Work

One of the main reasons Intuit’s software is so useful is how confusing taxes can be in the US. While some countries make paying tax a relatively straightforward process, the US doesn’t follow suit. In fact, Intuit consistently lobbies against the US government attempting to impediment pre-filled tax forms to ensure they retain their position. Meaning that if the government goes against their wishes and introduces pre-filled forms they may lose a large portion of their business.  

How to Buy Intuit Stock with eToro

The process of buying stock can be extremely confusing. When you first use a new brokerage it’s easy to get overwhelmed by the huge amount of financial jargon they throw at you. This can be disheartening for new investors and in some cases prevent people from investing altogether. At Economy Watch we believe everyone has the right to invest which is why we’ve created this comprehensive guide detailing exactly how to buy Intuit stock. 

Step 1: Open an account with eToro

The only prerequisite to buying Intuit stock is creating an account with a trusted broker. If you don’t take the time to select a high-quality broker, the chances are you’ll find yourself paying exorbitant fees for a subpar stock broker. To avoid this, we recommend you buy stocks with eToro, they offer a great balance between simplicity and power. Just type “eToro.com” into your internet browser, press “Join Now” and fill in the necessary information.

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

Step 2: Verify your account

Once you’ve created your eToro account, you’ll need to verify it. This is because eToro is a regulated investment platform. The verification process couldn’t be easier to complete. The only documents you’ll need are a photo ID (passport, driving license) and proof of address (bank statement, utility bill). 

Step 3: Fund your account

After you’ve completed the verification process, you’ve only got one more step left to complete before it’s time to make your first Intuit purchase. To fund your account just click on the button marked “Deposit Funds”, enter the amount you plan on investing, and press “Deposit”. When depositing on eToro you have options, you can pay using either a credit/debit card, bank transfer, or e-wallet (PayPal, Skrill).

Step 4: Buy Intuit Stock!

As soon as your funds have been successfully deposited, you’re ready buy Intuit stock! The final steps you’ll need to take are typing “Intuit” into the eToro search bar, pressing “Trade”, entering the amount you want to buy, and pressing “Open Trade”. As soon as you’ve purchased the stock, you’ll be able to manage it from the portfolio section of your account. 

Conclusion

To summarize, Intuit’s offerings are essential to the success of small businesses, making them a fairly safe bet regardless of the economy as a whole. Over the past 5 years, Intuit has been enjoying consistent growth, rising in value by over 500%. Therefore, it’s no surprise that so many investors have begun to accumulate the asset, banking on them maintaining a similar rate of growth. For the most part, there’s no reason Intuit shouldn’t achieve this, however, if their lobbying fails and the US government makes taxes easier to understand for small business owners, it’s likely the share price would fall, especially when considering the fact that 95% of their business takes place within the United States. A portion of this risk can be alleviated by ensuring you’re trading with a top-of-the-line broker like eToro. All in all, as long as Intuit can maintain its current trajectory, there’s no reason why we couldn’t see much higher numbers in the near future.

eToro – Top Broker to Buy Intuit Stock

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FAQs

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About Jay Leonard PRO INVESTOR

Jay is a UK based cryptocurrency expert, specialising in fundamental analysis and medium to long term investments. He has a great deal of hands on experience in the space and a current focus on institutional adoption.