Buy Oil Stocks – Invest in the Best Oil Stocks Today!

Fact Checked by Gary McFarlane

It goes without saying that oil is a crucial part of the global economy. If you want to invest in this commodity, you will need to buy oil stocks from the companies that extract and produce it.

In this guide, we review the best oil stocks to invest in alongside a step-by-step account of how to complete your purchase with a 0% commission brokerage site.

Table of Contents

#1 Broker to Buy Oil Stocks – eToro

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How to Buy Oil Stocks – A Quick Guide For 2022

You can sign up with an investment platform to buy oil stocks in 5 simple steps. Create an account with top-rated platform eToro by following the walkthrough below. This broker is regulated by the SEC and will let you buy a fraction of an oil share without paying commissions.

  • Step 1: Open an Account with eToroWhen you arrive on eToro’s main page, look for the ‘Join Now’ link and complete the required information surrounding your identity.
  • Step 2: Upload Your ID – This broker provides a safe space to buy and sell stocks. It requires all new investors to complete the KYC process by uploading proof of ID and registered address.
  • Step 3: Deposit Funds – US clients are not required to pay a deposit fee at eToro. Furthermore, the minimum deposit is just $50 and you may finance your account with ACH, online banking, e-wallets, or credit/debit cards.
  • Step 4: Search for Oil Stock – To invest in the best oil stocks, you need to locate the asset. If you already know which oil stocks you want to buy, type the name of the company into the search box. If you are yet to decide, look under ‘Discover’ to see what is listed. Click ‘Trade’ to confirm.
  • Step 5: Buy Oil Stocks – To buy oil stocks, complete the trading order – which will include the amount you wish to invest. This can be as low as $50 as eToro allows you to buy fractional shares in oil companies.

When you are happy to continue, click ‘Open Trade’ to add the oil stocks to your list of investments. eToro charges 0% commission to buy oil stocks.

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

Best Oil Stocks to Buy Now – List of the Best Oil Stocks

When researching how to buy oil stocks, you will see that there is a plethora to choose from. Our team analyzed a range of the best oil stocks to invest in – and you will find an overview of these companies below.

  1. ConocoPhillips – Overall Best Oil Stock for Stable Returns
  2. Devon Energy – Best Oil Stock for Dividends
  3. Diamondback Energy – Best Oil Stock for Growth Potential
  4. Exxon Mobil – Best Oil Stock For Investors Seeking High Dividends
  5. Phillips 66 – Best Oil Stock Combining Dividends and Growth

However, to make an informed choice, you will need to know a little about the company that you plan to buy shares in. As such, you will see further information on the above oil stock picks shortly.

How To Buy Oil Stocks – Choose a Broker

When you’ve decided on the best oil stocks for your financial goals, you can sign up with a platform with access to the relevant company. The brokers mentioned below list some of the best oil stocks in the market right now.

  1. eToro – Overall Best Place to Buy Oil Stocks
  2. Webull – Buy Oil Stocks at 0% Commission
  3. Zacks Trade – Top Broker for Advanced Traders
  4. Merrill Edge – Online Brokerage With a Variety of Investment Accounts
  5. Robinhood – Top Broker for Commission-Free Investing
  6. Interactive Brokers – Trade US Stocks at 0% Commission
  7. Fidelity – Trusted US Brokerage With 7,000+ Stocks
  8. E*TRADE – Good Broker for Long-Term Investments
  9. SoFi – Invest in Oil Stocks via Fractional Shares
  10. Ally Invest – Challenger Bank Offering Low-Cost Stock Investments

If you are still making your mind up, we offer a full review of each broker further down this guide.

What are Oil Stocks?

Oil stocks constitute companies that explore, produce, process, refine, and store this globally used commodity. There are different categories of oil stocks, depending on which phase of production the company is involved in.

eToro Basic Materials Stocks

Oil stocks comprise downstream, upstream, midstream, and integrated companies – see below for clarification:

  • Downstream: Companies that create products like gasoline by refining crude oil. This also includes firms that distribute the end product.
  • Upstream: Production and exploration oil companies responsible for drilling wells for subsea and underground extraction and processing.
  • Midstream: Oil stocks in this category fall between downstream and upstream. Whether specializing in crude or the refined elements of it, these companies deal with the transportation, processing, and storage of oil.
  • Integrated: This category of oil company will be a firm that is involved in the end-to-end product. By this, we mean that when you add oil to your portfolio via an integrated company, you are buying stocks that have divisions covering each of the above-mentioned sectors

By buying oil stocks, you might also have the advantage of receiving dividends. Additionally, you will hopefully be able to take advantage of the appreciation of its share price later down the line.

Best Oil Stocks to Buy Now – Full Analysis

It’s no easy feat to find the best oil stocks to add to your portfolio. To cast light on what’s available when you buy oil stocks, see our top picks below. As always, you are advised to conduct your own research before buying any stocks.

1. ConocoPhillips – Overall Best Oil Stock for Stable Returns

ConocoPhillips is listed on the NYSE and is one of the world’s largest oil exploration and production companies. This could be the best oil stock for investors that are hoping to capitalize on the steady demand and the rising price of this commodity. First, this major oil producer operates in many geographic locations.

The oil company has operating segments in the Middle East, North Africa, Canada, Asia Pacific, Europe, and more. As such, ConocoPhillips operates on a global scale, which makes it one of the best oil stocks to invest in. This oil stock is thriving and some market analysts believe it offers stable returns for investors.

Google Charts ConocoPhillips

In the third quarter of 2021, the company generated over $4.1 billion. After taking into account capital expenses of $1.3 billion, the company created a free cash flow of around $2.8 billion. Shareholders in ConocoPhillips receive much of the company’s excess gains, with $1.8 billion paid in dividends to date and $1.3 billion in capital expenditure.

The average annual dividend yield of this stock is 2.32%, with five-year highs and lows of 6.40% and 1.40% respectively. In terms of growth, at the end of November 2020, ConocoPhillips was trading at $41. By the same time, in 2021, shares were priced over 75% higher at $72.

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

2. Devon Energy – Best Oil Stock for Momentum Investors

Devon Energy is an independent US oil and gas company. This firm was founded in 1971 and the stock is listed on the NYSE. Devon Energy focuses on hydrocarbon exploration, transportation, production, and development of oil – alongside natural gas.

We found Devon Energy to be one of the best oil stocks for momentum investors. This is because, historically, the shares have displayed the high volatility that people looking for when engaging in short-term trading – as you can see in the chart below.

Google Charts Devon Energy

For instance, in late November 1999, the shares were around $19 each. A decade later, the same stocks were trading 253% higher, at $67. By the end of November 2020 and 2021, Devon Energy Corp was priced at $21 and $43 respectively, illustrating an increase of around 105% in 12 months.

Additionally, when you’re looking for the best oil stocks to buy, the operating cash flow of a company will give you a strong indication of how flexible it is. This is in terms of growth, new products, and dividends. In Q3 of 2021, this company reported an operating cash flow of $1.6 billion – 46% higher than the previous quarter. The annual dividend yield of this oil stock is around 2.78%.

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

3. Diamondback Energy – Best Oil Stock for Growth Potential

Diamondback Energy was founded in 2007 is among the best oil stocks listed on the NASDAQ, in terms of growth potential. The company displayed strong results from the third quarter of 2021. Its year-to-date total (as of late November 2021) in free cash flow is a reported $740 million. Some of the funds produced were used for dividends and repaying debt – to strengthen its balance sheet.

Some oil market commentators think that Diamondback Energy is one to watch in terms of future growth. This is because the oil stock has almost increased two-fold in 2021 alone and could continue this trend moving into 2022. For instance, in early January 2021, Diamondback Energy was trading at around $56. 10 months later, the oil stock was 97% higher.

Google Charts Diamondback Energy Inc

Let’s go further back to illustrate the growth of this oil stock. At the beginning of November 2020, Diamondback Energy shares were priced at around $25. Around 12 months later, the stock was averaging $110. This is a price increase of 340% in a year. Furthermore, the company has pledged to maximize free cash flow in the next year by keeping the production of oil static.

Market commentators believe that 50% of that will be returned to shareholders via dividends and share repurchases. As such, if the price of oil cooperates, you could see strong returns when you invest in Diamondback Energy. The annual dividend yield of Diamondback Energy is around 1.9%.

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

4. Exxon Mobil – Best Oil Stock For Investors Seeking High Dividends

If high dividends are important to you, this is one of the best oil stocks to buy. Exxon Mobil is one of the largest oil companies in the world and can be found on the NYSE. Exxon Mobil refines, produces, and transports this widely used commodity. The company is a descendant of John D. Rockefeller’s Standard Oil, formed in 1870.

Many companies have been forced to cut dividend payouts due to extreme volatility. In contrast, the management team behind this oil stock has announced it is going to pay shareholders an extra 1 cent per quarter. Whilst this might not sound like much, Exxon Mobile already pays 87 cents per share and a commitment like this shows the financial strength of the company.

Google Charts Exxon Mobil

Exxon Mobil has been increasing its annual payouts for almost four decades now, meaning the stock is a leading ‘dividend aristocrat’. It is estimated that this oil stock pays shareholders approximately $15 billion per annum in dividends, and if history is anything to go by, this is set to continue.

We researched the price history of this oil stock to offer some more insight. In early November 1989, the shares were at just $11. 10 years later, Exxon Mobile stock was 264% higher, at $40. By early October 2021, this oil stock was around $34 per share. Only a month later, this oil stock had seen an increase of 82%. Aside from paying high dividends, this could also be a good way to buy shares in oil stocks for momentum investors.

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

5. Phillips 66 – Best Oil Stock Combining Dividends and Growth

The aforementioned ConocoPhillips was the parent company of Phillips 66 – until 2012 when they parted ways. Phillips 66 operates refineries in the US and Europe and also has stakes in Chevron, Phillips 66 Partners, and DCP Midstream. The company’s ability to leverage this integrated midstream network, as well as investing in high-margin stocks, makes Phillips 66 one of the lowest-cost refineries.

If you are looking to buy oil stocks that generate regular cash flow payments, in October 2021, Phillips 66 announced a 2% increase in dividends. This means shareholders can now expect quarterly payments of 92 cents (per share).

Google Charts Phillips 66

To give you an idea of the historical growth of this oil stock; in March 2020 Phillips 66 was trading at around $45. By late November in 2021, this oil stock was priced at $72, showing an increase of 60% in 20 months.

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

Other Ways to Invest in Oil Stocks

That’s the best oil stocks covered. If you would rather not concern yourself with handpicking and analyzing the individual oil stocks – consider alternatives.

For example, you can also buy oil stocks via index funds and ETFs. You can even buy oil stocks via the eToro CopyPortfolio. For more information about these investment options – read on.

Best Oil Stock Index Fund

For anyone unaware, index funds imitate the performance and composition of a specific market index. A good example of this is the United States Oil Fund. Established in 2006, this index fund is listed on the NYSE and monitors the Benchmark Futures Oil Contract (USCF).

This fund’s top holdings include Crude Oil WTI futures, Fidelity Investments Money Market Government Portfolio, Goldman Sachs FS Government, Morgan Stanley Institutional Liquidity, United States Treasury Bills, and more.

Google Chart United States Oil Fund LP

This index fund will be reweighed in line with daily shifts in the net value of the underlying assets. In other words, if the Benchmark Futures Oil Contract rises or falls, as will the index fund that tracks it.

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

eToro CopyPortfolio

Another option is to invest in a CopyPortfolio at eToro. We researched the best ways to buy oil stocks passively at eToro and found a managed portfolio called OilWorldWide. This contains 23 markets, which consists of 82.08% in stocks, 11.49% in ETFs, and 6.43% in commodities. The weighting of this and any CopyPortfolio is subject to change.

Essentially, eToro has allocated the best oil stocks (and other markets) to be included in the portfolio and will rebalance the weighting of it regularly. This will usually depend on the performance of the underlying companies or funds.

eToro OilWorldWide CopyPortfolio

Some of the best oil stocks in this portfolio include; ConocoPhillips, Exxon Mobil, and Phillips 66. This is also a good way to buy oil stocks via ETFs, as the CopyPortfolio includes the S&P Oil & Gas Exploration & Production Select Industry Index and the Energy Select Sector SPDR. As such, by investing in a CopyPortfolio, you can passively incorporate a varied selection of oil markets into your strategy – under a single purchase.

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

How to Choose the Best Oil Stocks for my Portfolio?

Choosing the best oil stocks can be challenging. There are various things you can be mindful of to aid your decision – which we discuss in more detail below.

Dividends or Growth

The first thing to consider in your search for the best oil stocks is to review the company’s growth and dividends.

See some examples below:

  • Diamondback Energy stock grew by 340% in just 12 months, covering November 2020 to 2021
  • In terms of dividends, Diamondback’s yield is around 1.9%. The latest payment was made on November 18th, 2021, and was $0.50 for each share held
  • After checking the price data of multinational oil corporation Exxon Mobil, we can see that this stock increased by just 58% over the same 12-month period
  • As of November 2021, the annual dividend yield for Exxon Mobil is 5.8%. The last payment received by shareholders was $0.88 per share. The company recently increased dividends by around 1% per share.

Bear in mind that not all companies in the oil industry pay dividends. As such, if this is important to you, make sure you buy oil stocks that have a consistent dividend policy in place. Companies may temporarily stop dividends during hard times, while others manage to increase payments year on year – like Exxon Mobil.

Market Capitalization

You can also make a decision on the best oil stocks for your portfolio by looking at the market capitalization of the company in question. You can calculate this easily; take the current value of a stock and multiply it by the number of shares that are outstanding.

This will give you the market capitalization of the oil stock in question. You can also carry out a quick internet search for this information. In laymen’s terms, this tells you how much the oil company is worth.

For instance, let’s look at the market cap of some of the oil stocks we’ve talked about today:

  • Diamondback Energy has a market capitalization of $19.96 billion
  • Devon Energy sits at $29.41 billion
  • Phillips 66 has a company valuation of $32.35 billion
  • ConocoPhillips has a market capitalization of $97.3 billion
  • Exxon Mobil’s market capitalization is a whopping $267.27 billion

A lower market capitalization isn’t necessarily a bad thing as there could be greater upside potential. On the other hand, beginners might feel more comfortable investing in oil stocks with a higher valuation – as volatility levels should, in theory, be lower.

Where to Buy Oil Stocks – Full Broker Reviews

By now, you should have a better idea of the best oil stocks for your portfolio. It’s important to ensure you have a good broker on your side to access local and international stock exchanges. Factors such as low fees, the option of fractional investments, and regulation will only be an advantage.

1. eToro – Overall Best Place to Buy Oil Stocks

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eToro provides access to a plethora of options when it comes to adding oil stocks to your portfolio. This broker is safe and operates under multiple regulatory bodies. This includes the SEC, FCA, ASIC, and CySEC. You won’t be charged a commission to buy oil stocks, and the spread is competitive across all markets we reviewed. Furthermore, the platform facilitates fractional investments in oil companies from $50.

The best oil stocks at this broker include ConocoPhillips, Diamondback Energy, and Phillips 66. We also discovered companies such as Exxon Mobil, Devon Energy, Murphy Oil, Tullow Oil, Chevron, Kunlun Energy, and more. eToro also lists a choice of ETFs, such as the United States Oil Fund and the SPDR S&P Oil and Gas Exploration & Production, both of which track the performance of US oil companies.

etoro copy portfolio

If you would like to try exposing your portfolio to oil stocks passively, check out the CopyPortfolio feature. For example, you can allocate funds to eToro’s OilWorldWide portfolio. This allows you to add a basket of leading oil companies and ETFs to your portfolio with one investment. You can finance your eToro account with $50 or more to get started. Payment options include credit/debit cards, e-wallets, and bank transfers.

Pros

  • Invest in stocks at 0% commission and ZERO stamp duty
  • Minimum investment per stock is $50
  • Supports debit/credit cards, e-wallets, and bank transfers
  • Regulated by the SEC, FCA, ASIC, and CySEC
  • Used by over 20 million people
  • Perfect for beginners
  • 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. Webull – Buy Oil Stocks at 0% Commission

webull review

Webull is a low-cost and commission-free broker based in the US. You will find ETFs such as the United States 12 Month Oil, and Ultrashort Bloomberg Crude Oil USL. Our research team also discovered some of the world’s best oil stocks, including Devon Energy, ConocoPhillips, Exxon Mobile, and more. Webull is safe, not least because it is a member of FINRA and regulated by the SEC.

webull review

There is no minimum deposit to meet when funding your account. We found payment options to include ACH and bank wire. Note that deposits can take up to 3 days to process. If you wish to buy oil stocks on the move, you can download the free Webull app – which we found super easy to use. This is compatible with both iOS and Android operating systems.

Pros

  • Thousands of US-listed stocks
  • 0% commission trading
  • Also supports ETFs and stock options
  • No minimum deposit

Cons

  • No support for debit/credit card deposits
  • Very limited selection of non-US stocks
  • Spreads can be somewhat high
  • Wire transfer withdrawals cost $25 per transaction

at eToro, #1 Online Broker

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

3. Zacks Trade – Top Broker for Advanced Traders 

zacks trade review

Zacks Trade is a long-standing US broker that offers low-cost investing. The platform is regulated by the SEC and registered with FINRA. You can trade at a commission of just $0.01 per share in your chosen oil stocks. This guide found oil stocks like Exxon Mobile and Phillips 66. If you would rather trade a basket of assets, as previously discussed, there is the option of ETFs, such as the United States Oil or iPath Pure Beta Crude Oil.

zacks trade review

There are plenty of trading tools at Zacks Trade and the site is fairly easy to navigate. You can fund your account using credit/debit cards, bank transfers, or e-wallets. Please note that the minimum amount the platform recommends financing your account with is $2,500. With that said, there are no transaction fees to pay.

Pros

  • Advanced trading platform
  • Huge research and analysis department
  • Great for seasoned traders

Cons

  • Too complex for beginners
  • Cheaper trading fees available elsewhere
  • Minimum deposit recommendation of $2,500 or more

at eToro, #1 Online Broker

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

4. Merrill Edge – Online Brokerage With a Variety of Investment Accounts

Merrill Edge review

You can buy oil stocks with confidence at Merrill Edge. As with all the brokers mentioned so far, this one is regulated by the SEC and is a member of FINRA. The brokerage is also backed by the Bank of America. This platform offers a range of stocks and ETFs with no deposit minimum and 0% commission. At least, this is the case with self-directed investing. The best oil stocks to buy at this broker include ConocoPhillips and Phillips 66.

Merrill Edge review

If you decide to open an account that is managed, you will need to make a deposit of $1,000 or over and pay an annual fee of 0.45%. There are other accounts to choose from depending on your level of investing knowledge. The deposit options here are somewhat limited, with only bank transfers and checks accepted.

Pros

  • Several account types to choose from
  • Self-directing accounts offer 0% commission stocks
  • ETFs, mutual funds, and bonds also supported 

Cons

  • Financial advisory accounts require minimum investment of $20,000
  • No direct fractional share purchases    

at eToro, #1 Online Broker

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

5. Robinhood – Great US-Based Broker for Beginners 

robinhood review

Robinhood is a well-known brokerage with thousands of US ETFs and stocks listed, covering a variety of different sectors. The website is super simple to get around and the broker is registered with FINRA and regulated by the SEC. The best oil stocks at this brokerage include ConocoPhillips and Diamondback Energy. The minimum investment amount is a beginner-friendly $1.

robinhood review

You can buy oil stocks without paying commission at Robinhood, so you will only need to take the spread into account, which isn’t the most competitive on this list. Oil ETFs include the Direxion Daily S&P Oil & Gas Exploration and Production, and also the United States Oil Fund. You can finance your account with as little as you like as there is no minimum stipulated. Payment types are less diverse than the likes of eToro, with only a bank transfer on the table.

Pros

  • No commissions charged
  • Offers US-based stocks, ETFs, and options
  • No minimum deposit
  • Very user-friendly

Cons

  • Spreads can be uncompetitive
  • No support for e-wallets or debit cards
  • No foreign stocks

at eToro, #1 Online Broker

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

6. Interactive Brokers – Trade US Stocks at 0% Commission

Interactive Brokers

Interactive Brokers has been around for over 40 years and is regulated by multiple authorities, including the SEC, FCA, and more. This broker offers heaps of oil stocks and ETFs with 0% commission. However, this only applies to US-listed companies. The best oil stocks listed here include Exxon Mobile and ConocoPhillips, amongst others.

Interactive Brokers

To fund your account and buy oil stocks, you will need to choose between ACH, checks, or bank transfer. If you are a beginner, you might find this site too complicated. With that said, more seasoned traders will no doubt find the plethora of tools on the platform useful for speculating on oil stocks

Pros

  • Thousands of investments across 135 markets
  • Advanced trading platform for seasoned investors  

Cons

  • Low fees only offered on US-listed stocks
  • Too complicated for beginners 
  • Debit card deposits and withdrawals not available     

at eToro, #1 Online Broker

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

7. Fidelity – Trusted US Brokerage With 7,000+ Stocks

fidelity review

Fidelity has been in business for over 75 years and is regulated by the SEC, and registered with FINRA. This brokerage lists over 7,000 stocks covering a variety of different markets. In terms of oil stocks, we found ConocoPhillips, Devon Energy, Diamondback, and more. Relevant ETFs include iShares Oil & Gas Exploration & Production UCITS, and a few others.

You will pay 0% commission to buy oil stocks that are listed in the US. The minimum stake is just $1, thanks to the broker’s acceptance of fractional investments. Moreover, there is no account minimum when you make a deposit and payment options include bank transfer and checks.

Pros

  • Trusted US-based brokerage
  • $0 commission on US stocks and ETFs
  • Stock Slice tool allows fractional investments of $1 

Cons

  • Perhaps too complex for newbies
  • Non-US assets come with high fees  

at eToro, #1 Online Broker

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

8. E*TRADE – Good Broker for Long-Term Investments 

E*TRADE review

E*Trade has provided brokerage services since 1982 and is regulated by the SEC and a member of FINRA. There are tons of tools to keep an eye on the markets and track stocks and ETFs. The best oil stocks consist of oil giants such as Exxon Mobil and Phillips 66. There are, however, many more to choose from. Furthermore, this platform does not charge any commission on US-listed oil stocks.

E*TRADE review

When it’s time to finance your account, E*Trade accepts payment methods such as checks, ACH, ad bank transfers. Moreover, there is no minimum deposit in place on standard accounts. On this subject, the brokerage offers a diverse selection of retirement accounts, including everything from Beneficiary IRAs and Traditional IRAs to Roth and Rollover IRAs. There is plenty of educational content on the main platform for newbies.

Pros

  • Great for long-term investments
  • Supports a variety of retirement accounts
  • Low fees  

Cons

  • Very limited number of non-US stocks
  • Won’t suit seasoned investors seeking high-level trading tools     

at eToro, #1 Online Broker

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

9. SoFi – Invest in Oil Stocks via Fractional Shares

SoFi invest review

SoFi operates under the watchful eyes of top financial authorities, the SEC and FINRA. Regulation from top-tier financial organizations provides you with a safer place to buy oil stocks. You can buy a fragment of a share at this brokerage as fractional investments starting from $5. Furthermore, there are no commission fees to pay when you buy fractional shares in oil stocks.

SoFi invest review

Oil stocks include Royal Dutch Shell, Exxon Mobil, and Chevron, among others. You can fund your investment with a personal checking account, bank transfer, or reoccurring deposit and there isn’t a minimum. Compared with the likes of eToro – this broker is somewhat lacking when it comes to trading tools such as CopyPortfolio.

Pros

  • Supports fractional shares
  • Offers stocks, ETFs, and crypto
  • Access to IPOs 

Cons

  • Trading platform comes with limited features
  • No copy trading tools
  • Number of supported assets is somewhat limited

at eToro, #1 Online Broker

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

10. Ally Invest – Challenger Bank Offering Low-Cost Stock Investments

Ally Invest review

Ally Invest is based in the US and regulated by the SEC, with a FINRA membership to boot. You will not pay commission to buy and sell oil stocks or ETFs here. In terms of the latter, you will find ETFs inclusive of the iShares U.S. Oil & Gas Exploration & Production. Oil stocks include Phillips 66, ConocoPhillips, and Diamondback Energy.

Ally Invest review

You can stake as little as $0.50 per contract on stock options at Ally Invest. Furthermore, there is no minimum amount needed to open a self-directed account. Accepted payment methods include bank wires, third-party broker transfers, and checks.

Pros

  • Access banking and investment services via a single platform
  • $0 commission stocks and ETFs
  • No minimum deposit

Cons

  • Does not offer international shares
  • Tools and research features very limited   

at eToro, #1 Online Broker

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

How to Buy Oil Stocks – Detailed & Explained in Full

Once you’ve decided on the oil company you want to add to your portfolio, you can create a broker account to buy shares in it.

We have opted for eToro for this walkthrough. This will enable you to buy the best oil stocks with fractional stakes starting at $50. The SEC, FCA, CySEC, and ASIC regulate the platform and you’ll be charged 0% commission on all oil stocks.

Step 1: Open a Broker Account

To open an account with eToro, click ‘Join Now’. After entering your first and last name, choose a username and password. Next, after completing your phone number and email, you can proceed to the next step. This requires you to enter your home address and date of birth.

how to join etoro

To complete the registration for an eToro account, finish the identification process by uploading the required documents. To validate your ID, you can attach a photo of your passport or a driver’s license. This must display your name, date of birth, and photo. You will also need to upload proof of residency, such as a statement from your bank or a recently issued utility bill.

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

Step 2: Deposit Funds

To buy oil stocks, you will need to finance your account. This is easily achieved at eToro. The minimum deposit is $50 and there are multiple payment options. This includes e-wallets like Neteller, Skrill, and PayPal.

Deposit Funds

Credit and debit cards issued by Mastercard, Visa, and Maestro can also be used to fund your account. ACH is also accepted if you prefer. There is no deposit fee to pay unless you reside outside of the US, in which case you will be charged 0.5%.

Step 3: Search for Oil Stocks

To invest in the best oil stocks, type the name of the company from which you want to buy shares in the search bar, as seen below.

eToro ConocoPhillips Search

When you see the correct asset, you can confirm and click ‘Trade’ to place an order.

Step 4: Buy Oil Stocks

As you can see, we are looking to buy shares in major oil company ConocoPhillips. The minimum investment amount is $50 at eToro because the broker supports fractional stakes.

eToro ConocoPhillips Order Box

Complete the order by adding the amount you want to allocate to oil stocks. Confirm all by clicking on ‘Open Trade’. Alternatively, like in the example above, is the markets are closed you will need to click ‘Set Order’.

How to Buy Oil Stocks – Conclusion

As we’ve explained throughout this guide, choosing the best oil stocks takes time and dedication. Today we have reviewed the top oil stocks in the market right now. For instance, if you’re researching how to buy oil stocks because you want to receive dividend payments – how about Exxon Mobil? The company has paid increasing dividends for over 40 years and now yields over 8%.

When choosing a broker to access the best oil stocks, we found eToro to be the standout option. The SEC and the FCA approve of and regulate the platform, and the broker is a FINRA member. There is an assortment of oil stocks and ETFs, with fractional investments from $50. Furthermore, eToro offers 0% commission on stocks and ETFs, as well as supporting heaps of deposit methods.

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  • Buy over 800 stocks with 0% commission
  • Social trading network
  • Copy over 12 million traders and investors
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FAQs

How to buy oil stocks?

Where to buy oil stocks?

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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.