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- 1. How to buy stocks with American Express stock brokers in 2023
- 2. Where to buy stocks with American Express
- 3. How to fund your American Express broker account
- 4. What is American Express?
- 5. What is the American Express brokerage?
- 6. Quick answers to key questions
- 7. Pros and cons of buying stocks with American Express
- 8. What to look for when investing with American Express brokers
- 9. Should I use an American Express stock broker?
- 10. FAQs
How to buy stocks with American Express stock brokers in 2023
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9/1082% of retail CFD accounts lose money.
What you’ll learn
Copy link to section- How to find an online stock broker that accepts American Express, charges low fees, and keeps your money secure
- How to buy stocks with American Express for the first time
- The pros and cons of buying stocks with American Express
Where to buy stocks with American Express
Copy link to sectionThe best stock broker that accepts American Express is eToro .
Here are three more stock trading platforms where you can buy stocks with American Express, ranked according to their trading fees, security features, and platform reliability.
77% of retail CFD accounts lose money.
How to fund your American Express broker account
Copy link to sectionIt takes 10-15 minutes to set up a trading account with a broker that accepts American Express. Follow this guide to learn how to invest with American Express online brokers.
Step 1. Sign up with eToro
Copy link to sectioneToro is the best stock broker that accepts American Express as a payment method.
To set up a trading account you must enter some personal details, like your name, street address, and email, and provide a valid photo ID for verification.
77% of retail CFD accounts lose money.
Step 2. Go to the deposits or payments page on your trading app
Copy link to sectionYou will find this in the main menu or site navigation tab. It may be labelled ‘bank’ or ‘account’, each American Express brokerage is different.
Step 3. Choose American Express from the list of options
Copy link to sectionChoose your payment method from the drop down menu. There may be a lot of options, so scroll down until you find Amex.
Step 4. Enter the amount of money you want to deposit and confirm
Copy link to sectionDecide how much you want to deposit and type that amount into the box. Bear in mind that there may be a fee for American Express deposits.
Double check the details and then make the deposit. You may have to confirm the transaction with American Express before it goes through.
Step 5. Search for your favourite stock and place an order
Copy link to sectionEach stock trades under a unique ticker symbol. For example, Apple stock trades as ‘AAPL’. Search for the stock you want to buy using its ticker and place your first trade.
What is American Express?
Copy link to sectionAmerican Express is a financial services company best known for its credit card. The American Express card, often called the Amex card, is a charge card issued by American Express. It differs from traditional credit cards as cardholders must pay the entire balance each month instead of carrying a revolving balance.
Amex cards are accepted by millions of merchants worldwide, both online and at traditional bricks and mortar stores. An Amex card provides several benefits, such as rewards points, travel perks, purchase protection, and concierge services.
American Express also operates as a full-service online stock broker through a division known as American Express Financial Advisors. Customers can open an account and buy stocks with an Amex card or linked bank account.
What is the American Express brokerage?
Copy link to sectionThe American Express brokerage, or Amex Financial Advisors, is an introducing broker, which means it partners with another firm to execute trades. This allows Amex to offer brokerage services while integrating with existing American Express products.
When you open a brokerage account with America Express, you can invest in a full suite of products, including stocks, ETFs, mutual funds, bonds, and more. Your account can be funded using an American Express card.
Among the many benefits of using the Amex brokerage is the convenience of investing in the stock market using your existing American Express card. Cardholders also earn reward points on brokerage deposits making the brokerage a good choice for existing Amex customers.
Quick answers to key questions
Copy link to sectionWhat is an American Express stock broker?
Copy link to sectionA trading platform where you can buy and sell stocks and which accepts American Express as a means of funding your trading account.
Stock trading apps that accept American Express deposits act as middlemen to complete stock trades, often charging a small fee for carrying out your orders.
Can you buy stocks with American Express?
Copy link to sectionYes, by using American Express to fund a trading account with online brokers.
To be clear, you can’t buy stocks on American Express unless you register with the Amex brokerage itself. However, you can use it to deposit with some online brokers. All these recommended trading platforms accept American Express deposits.
How much does it cost to fund a trading account with American Express?
Copy link to sectionIt costs up to 2% of the deposit amount. Trading platforms normally offer free deposits, but American Express deposits incur a small charge.
Is it safe to buy stocks with American Express?
Copy link to sectionYes, it is safe, as long as you use a regulated online broker. We only recommend regulated stock brokers that accept Amex, which are forced by law to keep your money secure and abide by various financial disclosure and transparency requirements.
If you aren’t sure about a platform, search for its company registration number with your local regulator. This way, you can find out if the American Express brokerage is regulated by a reliable financial authority or not.
Do I need to provide ID when I buy shares using American Express?
Copy link to sectionYes, if you’re using a regulated online broker. Online stock brokers follow KYC (Know Your Customer) guidelines, so you will have to provide a form of valid photo ID when you set up a trading account.
Valid ID includes your passport or driving licence, so always have at least one of those to hand when you create an account.
Pros and cons of buying stocks with American Express
Copy link to sectionWhen deciding if you should invest with Amex, consider these benefits and drawbacks:
Pros
Copy link to section- Familiarity. You get to buy stocks using a payment method that you use all the time, meaning you’re used to the process and there won’t be any unexpected surprises.
- Security. Your stock trades are backed by American Express’ security and Know Your Customer protocols, offering enhanced security features.
Cons
Copy link to sectionWhat to look for when investing with American Express brokers
Copy link to sectionOnce you’ve ensured that the stock broker you’re considering accepts Amex as a payment method, the next step is to look for markers of superior service. Here are some important qualities to look for to make sure you’re getting a good deal.
- Low transaction fees. Even though most online brokers won’t charge too much per trade, a difference of a few pounds between one trading platform and another can add up over time. If you find two brokers that offer similar levels of customer service and other strengths, choose the one that offers lower fees.
- Speed. Look for a platform that will execute your stock purchases quickly and efficiently.
- Ease of use. The best brokers make the process of buying stocks online with American Express easy.
- A strong reputation. Strong user reviews and a respected track record within its industry can set a broker apart from the competition.
- Great customer service. The stock broker you choose should offer fast and helpful customer service; in some cases that can even be on a 24/7 basis.
Should I use an American Express stock broker?
Copy link to sectionYes, if you already use an Amex card regularly, then using an American Express stock broker could be a good option. Using an Amex card provides lots of benefits to cardholders, including reward points, purchase protection, and insurance. However, many stock brokers do not accept American express deposits, so better options may be available.
FAQs
Copy link to sectionMore stock payment methods
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