Buy Stocks With Skrill – How to Buy Stocks With Skrill in 2021

Fact Checked by Gary McFarlane

If you’re looking to buy stocks with an e-wallet, Skrill is one of the best options you can choose. When you elect to use this payment option, your chosen stockbroker will process the transaction instantly and securely.

However, before you can use your Skrill account for this purpose, you must do some research to find a suitable broker. In this guide, we walk you through the process of how to buy stocks with Skrill at 0% commission in under five minutes.

#1 Broker to Buy Stocks with Skrill – 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 Skrill – Choose a Stockbroker

Our research team has examined the market to determine the best brokers through which you can buy stocks with Skrill.

  • eToro – Overall Best Broker to Buy Stocks With Skrill
  • AvaTrade – Great CFD Platform to Trade Stocks at 0% Commission
  • Pepperstone – Stock Trading Platform With Free Skrill Deposits
  • Plus500 – Regulated Trading Site With a Minimum Skrill Deposit of Just $100

These are the top picks in terms of the places where you can buy stocks with Skrill. To know more about these stockbrokers, you’ll find our detailed reviews later in this guide.

How to Buy Stocks With Skrill – A Quick Guide for 2021

You can follow the steps in this brief walkthrough to buy stocks with Skrill in under five minutes. Using a regulated broker like eToro – which charges 0% commission on all supported stocks, here are the steps you’re required to take.

  • Step 1: Create an Account with eToro – Start by visiting the stockbroker’s website to sign up for an account. Fill in the relevant details and choose a username/password.
  • Step 2: Provide ID – You’ll need to upload certain identification documents to verify your identity. This is in line with Know Your Customer (KYC) regulations.
  • Step 3: Make a Deposit – You’ll be required to add funds to your account before you can buy stocks with Skrill. Here, after choosing Skrill as your payment option and entering your deposit amount (minimum $50) – confirm the transaction.
  • Step 4: Search for Stock – You can now enter the name of the stock you want to buy into the provided search box. Following that, click ‘Trade’ once the company name appears in the result tab.
  • Step 5: Buy Stocks With Skrill – You’ll have to enter the amount you wish to invest. At eToro, the minimum is just $50. Then, you’ll confirm the position by clicking on the ‘Open Trade’ button. Following that, the stockbroker will complete the purchase for the equivalent amount of stocks to the stake you entered.

With these steps, you’ll be able to buy stocks using Skrill within a few minutes.

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

Where to Buy Stocks With Skrill – Full Stockbroker Reviews

This section covers the best brokers in the online space that allow you to buy stocks with Skrill. Our research team focused on stockbrokers in terms of regulation, fees, customer support, and markets.

Based on our strict assessment, using the metrics above and more, below you will find reviews of the best brokers that allow you to buy stocks with Skrill.

1. eToro – Overall Best Broker to Buy Stocks With Skrill

bitcoin today

When you choose to use eToro to buy stocks, Skrill is one of the payment options available for that purpose. Here, you’ll only need to choose Skrill as the preferred payment method, enter your details, and the stockbroker will complete the transaction. Not only will your deposit be processed instantly, but the minimum requirement is just $50. Additionally, the stockbroker’s ease of use also makes this process super easy, as you can navigate your way effortlessly.

Another important perk of buying stocks on eToro is that the broker is a credible platform in the market. This is owing to being approved by five reputable financial bodies including the FCA, SEC, ASIC, and more. This way, eToro is mandated to operate with great security protocols that ensure the protection of users’ funds. Consequently, the broker has been in the stock trading scene for more than 10 years and is now used by over 20 million investors.

etoro review

In terms of fees, eToro is also a great broker worthy of consideration. When you make a deposit using Skrill, the stockbroker will charge you just 0.5% in fees (free for US clients). Furthermore, the platform charges no commission when you buy stocks with Skrill, making it a suitable place to consider for this purpose. After making your deposit, you’ll gain access to thousands of companies listed across the 17 stock exchanges supported by the broker.

Lastly, it’s important to note that eToro offers access to several other markets asides from stocks. These include cryptocurrencies, ETFs, commodities, and more. For all tradeable markets, there are certain tools offered by the stockbroker to make the investment process an easy one. You can choose to use the copy trading tool, which allows you to invest in a passive manner by replicating the positions of another investor that uses the eToro platform. You also have access to a social platform where you can interact with other traders.

Pros

  • Invest in stocks at 0% commission
  • 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. AvaTrade – Great CFD Platform to Trade Stocks at 0% Commission

avatrade review

If you’re looking to deposit funds with Skrill and proceed to trade stocks in a low-cost and seamless manner, AvaTrade is well worth considering. This popular platform is a CFD broker that allows you to trade stocks with leverage. Meaning, you can trade stocks with more capital than you have in your account. Notably, however, you might want to garner some experience in the stock trading space before you start applying leverage to your investments.

Furthermore, AvaTrade has an impressive score on the credibility metric. The platform is regulated in seven countries, which is a notable factor to consider when evaluating this stockbroker. Additionally, when you decide to buy stocks on AvaTrade using Skrill, you gain access to many other markets including ETFs, commodities, and cryptocurrencies. The broker also provides you with tools that you can utilize to trade in an easy manner. Such tools include charts and technical indicators.

avatrade review

Additionally, the end-to-end investment process on this stockbroker can be completed in under five minutes. The platform has a simple user interface that makes it convenient to navigate your way across the required investment steps. It’s also crucial to note that the stockbroker offers all tradeable markets at 0% commission. This is another important perk that investors might consider when evaluating the platform.

Pros

  • Licensed in seven 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
  • Skrill 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.

3. Pepperstone – Stock Trading Platform With Free Skrill Deposits

pepperstone review

Pepperstone grants you access to more than 1,000 financial markets including indices, forex, and of course, stocks. The broker also allows you to trade stocks using Skrill without paying a cent in commission. Another exciting feature with this broker is that there’s no minimum deposit requirement, meaning you can start with a very little amount of capital. This might be a feature to consider, especially as a beginner looking to start investing on a small budget.

Furthermore, the brokerage site enjoys regulation from the FCA. This impacts the level of credibility the platform has in the stock trading space. After all, seasoned investors only look to trade stocks via platforms that offer a safe and secure environment. Additionally, the stockbroker is compatible with both MT4 and MT5, which offers plenty of options in terms of technical indicators and chart drawing tools.

peppertstone review

You can also elect to use leverage on this stockbroker, allowing you to boost your purchasing ability. This is in addition to offering ZERO spread accounts that come with a competitive commission of just $3 per slide. With such an account, you can trade stocks without paying the spread between the ‘buy’ and ‘sell’ price. Alternatively, Pepperstone also offers a 0% commission account that comes alongside spreads. This account type is ideal for those that wish to trade smaller amounts.

Pros

  • 1,000+ instruments 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 resources

at eToro, #1 Broker in the Stock Trading Scene

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

4. Plus500 – Regulated Trading Site With a Minimum Skrill Deposit of Just $100

plus500 review

If you want to buy stocks with Skrill while also gaining access to a wide range of alternative assets, Plus500 is one of the best platforms for those seeking diversification. On this platform, you’ll have access to thousands of stocks, ETFs, hard metals, energies, forex pairs, digital currencies, and more. To get started with Plus500, you simply need to create an account, verify your identity, and proceed to make a deposit with Skrill.

As is the case with the other platforms that we have reviewed on this page, Plus500 also allows you to trade stocks at 0% commission. Additionally, the platform offers super-tight spreads, making Plus500 worthy of consideration when looking to buy and sell stock CFDs You can also decide to go long or short when using this platform. The implication of this is that you can attempt to secure a profit from stocks irrespective of how the price moves.

plus500 review

Notably, however, you need to make a minimum deposit of $100 before you can proceed to trade stocks. This minimum might appear a bit high for investors looking to start trading stocks with a very little amount. However, if you don’t consider this a drawback, the trading platform offers a great service in terms of order execution. Additionally, there’s support for mobile apps on both Android and iOS.

Pros

  • Credible CFD trading platform
  • 0% commission on all markets
  • Tight spreads
  • Mobile investment trading app available on Android and iOS devices
  • $100 minimum deposit
  • Supports debit/credit card payments
  • 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 Skrill – Detailed & Explained in Full

In this section, we’ve explained the process involved in buying stocks with Skrill. Unlike the brief walkthrough you read earlier, this section is more substantial and suitable if you’re a beginner just getting started with stock investments.

Step 1: Open a Stockbroker Account

To gain access to 0% commission stocks through eToro, you must first create an account. You can do this on eToro’s website by entering your personal information and contact details.

how to join etoro

As indicated in the image above, such details will include your first and last name, email, and phone number. The stockbroker is also designed to offer investors an optimized experience. As such, you’ll be asked certain questions about your prior trading experience and appetite for risk.

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

Step 2: Provide ID

You are now required to provide identification documents, not least because a regulated stockbroker like eToro must comply with KYC laws. This means that users on the platform must have their identity verified.

To complete this step, you’ll need to upload your passport or driving license. You’ll also have to provide a utility bill or bank statement issued within the past three months to verify your home address.

Step 3: Add Funds

You have to deposit funds into your account before you can buy stocks. On eToro, the minimum you’re required to deposit is $50. You can, however, choose to add more funds to your account based on your investment plan.

Following that, you’ll choose Skrill as your preferred payment option among the listed e-wallets. Then, the stockbroker will complete the transactions on your behalf.

Step 4: Search for Stocks

eToro supports thousands of stocks across 17 international exchanges. The easiest way to find your chosen stock is to use the search bar facility – which you will find at the top of the page.  For instance, suppose you want to buy Tesla stocks, you simply have to input the company name into the search box.

buy stocks

Once the result tab displays the relevant stock, click ‘Trade’ to proceed to the final step.

Step 5: Buy Stocks

After clicking ‘Trade’ in the prior step, a pop-up order box will appear. Here, you will need to enter your stake. The minimum you can invest here is $50.

buy stocks with skrill

Once you do that and confirm the order, you will then proceed to open your stock investment. And that’s it – you’ve just learned how to buy stocks with Skrill without paying any trading commission!

How to Cash Out Stocks to Skrill

After using Skrill to buy stocks on eToro, there is nothing more to do until you are ready to cash out. You’ll want to sell your investment when the value rises and you feel the time’s right. However, you cannot do this if you don’t understand the process involved.

If you used eToro to buy stocks with Skrill, here’s what you need to do when cashing out:

  • Sign in to your eToro account
  • Visit your portfolio
  • Find the ‘Sell’ button next to the respective stock and click it
  • Confirm the order

The stockbroker will complete your sale immediately if the markets are open. Otherwise, you’ll have to wait until the markets reopen before your stocks are sold. Once that’s done, your funds will be available for withdrawal via Skrill.

Fees to Buy Stocks With Skrill

An important aspect to focus on when learning how to buy stocks with Skrill is the cost involved. When you have an understanding of this, you’ll be able to estimate your returns on investment if the market moves in a favorable manner.

In this section, we’ll discuss the main fees to look out for when choosing a broker to buy stocks with Skrill.

Deposit Fees

It’s important to know whether or not you’ll pay a fee when making a deposit on your chosen platform. For instance, if you want to buy stocks with Skrill using eToro, you’ll incur a 0.5% deposit fee (free for US investors). We consider this a low-fee structure because, when completing purchases using a debit/credit card on other platforms in this arena, you might end up paying in excess of 2-3%.

Withdrawal Fees

In addition to making a deposit, you must also consider whether the stockbroker will charge you fees for requesting a withdrawal. On eToro, for instance, the withdrawal fee is a fixed $5 – regardless of the size of the transaction. Other brokers, however, might charge a percentage of the amount being cashed out.

Commissions

The vast bulk of online brokers charge standard trading commissions when you’re buying stocks or any other asset. Your task as a smart investor is to find a stockbroker that doesn’t charge commissions and yet still offers a top-rated service.

etoro stocks

This is crucial because high commissions can impact your investment returns adversely. This is especially the case if your chosen broker charges a flat commission on every buy and sell order (e.g. $10 per trade). On the other hand, you can choose to buy stocks through a broker like eToro – where you won’t pay any commissions at all.

Reasons to Buy Stocks With Skrill

Although Skrill is one of the best ways you can buy stocks, you might want to have tangible reasons why this payment option is worthy of consideration. To that end, below are some of the reasons to consider Skrill as a payment method for buying stocks.

You Can Complete Transactions Instantly

Investors look to complete transactions in a swift manner. This way, you can complete stock purchases and sales within a short period. The ability to move swiftly is crucial in the stock trading scene, which is why Skrill is often considered. After all, Skrill deposits are processed instantly.

Low Fees

Of course, you’ll want to buy stocks in the most cost-effective manner. After all, you’re in the market to make a profit. Here, it’s worthy to note that Skrill doesn’t charge you a fee when using your e-wallet account to deposit funds. With that said, it’s important to check whether your chosen broker charges any deposit fees when using Skrill.

No Need to Enter Payment Details

E-wallets such as Skrill hold funds on your behalf, which you can use to complete purchases directly. This means that, when you have a funded Skrill account, you don’t need to use your debit/credit card for direct payments.

Instead, when buying stocks on eToro, you’ll only input your Skrill details and the broker will complete the transaction. Therefore, this is a suitable option if you’re skeptical about using your card with an online stockbroker.

Buy Stocks with Skrill – The Verdict

In summary, when you want to buy stocks with Skrill, there are a few things to consider. First, you must find a stockbroker that supports this payment option. Secondly, you have to ensure the stockbroker is cost-effective and regulated by at least one reputable body.

Based on these two metrics and more, eToro fits the bill. The stockbroker allows you to buy stocks at 0% commission, offers tight spreads, and is regulated by multiple financial bodies.

eToro – Best Broker to Buy Stocks With Skrill

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.