How to buy stocks with debit card stock brokers in 2024

Find a stock broker that accepts debit cards. Learn how to buy stocks using a debit card broker with our step-by-step guide.
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Updated: May 13, 2024
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What you’ll learn

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  • How to find a stock broker that accepts debit card, charges low fees, and keeps your money secure
  • How to buy stocks with debit card for the first time
  • The pros and cons of buying stocks with a debit card

Where to buy stocks with debit card

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The best stock broker that accepts debit card is Start Trading .

Here are three more stock brokerage accounts where you can buy stocks with debit card, ranked according to their trading fees, security features, and platform reliability.

How to fund your debit card broker account

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It takes 10-15 minutes to set up an investment account with a broker that accepts debit card. Follow this guide to learn how to invest with debit card brokers.

Step 1. Sign up with Start Trading

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Start Trading is the best stock broker that accepts debit card 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.

Step 2. Go to the deposits or payments page on your trading app

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You will find this in the main menu or site navigation tab. It may be labelled ‘bank’ or ‘account’, each debit card brokerage account is different.

Step 3. Choose debit card from the list of options

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Choose your payment method from the drop down menu. There may be a lot of options, so scroll down until you find debit card.

Step 4. Enter the amount of money you want to deposit and confirm

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Decide how much you want to deposit and type that amount into the box. Bear in mind that there may be a fee when using debit card brokers.

Some debit card brokers have a minimum deposit requirement so make sure you’re able to meet the minimum deposit.

Double check the details and then make the deposit. You may have to confirm the transaction with your debit card before it goes through.

Step 5. Search for your favourite stock and place an order

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Each 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.

The best debit card brokers make it easy to find what you’re looking for. Usually at the top of your brokerage account homepage you’ll see a search bar which you can use to enter a stock’s ticker symbol.

Find a debit card broker & start trading

What is a debit card?

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A debit card is a popular payment card that allows the cardholder to access funds from their bank account when making purchases and payments. When you use a debit card, the purchase amount is immediately deducted from your account balance. 

Debit cards are linked to a checking account, savings account, brokerage checking account, or cash management account. Debit cards let you spend money you already have, unlike credit cards that allow you to pay on credit.

Debit cards have multiple benefits, including speed and convenience. Transactions are much simpler compared to writing a check or withdrawing cash. 

They also provide security as you don’t give your account number to merchants. Most debit cards offer fraud protection and zero liability in case of unauthorised transactions. 

The different types of debit cards

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There are various types of debit cards for users, from traditional checking account holders to those looking for prepaid options; there are even a selection of brokerage checking accounts. Here’s a quick look at the different types of debit cards. 

Bank-issued debit cards. 

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This type is the most popular debit card and is provided by your bank when you open checking accounts or savings accounts. Bank-issued debit cards give you direct access to money and sometimes have features like cashback rewards and fraud protection. 

Prepaid debit cards.

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This card type allows you to add funds onto the card to spend later. You do not require a bank account to use a prepaid debit card; they are easy to get with minimum documentation required. However, monthly fees and ATM withdrawal fees usually apply. 

Broker-issued debit cards.

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Many online brokers issue debit cards to users, sometimes knowns as brokerage checking accounts. These cards allow you to spend directly from or deposit into your brokerage account without transferring to a bank account first. Broker-issued debit cards are helpful if you want quick access to funds to buy stocks. A brokerage checking account is also usually covered by FDIC insurance and SIPC protection. 

Visa and Mastercard debit cards.

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Visa and Mastercard are the two largest payment networks. Many debit cards issued by a bank are either Visa or Mastercard. Several benefits to using a Visa or Mastercard debit card include the ability to spend money globally at merchants accepting these payment methods. However, some have monthly maintenance fees.

Quick answers to key questions

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What is a debit card stock broker?

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A trading platform or brokerage account where you can buy and sell stocks and which accepts debit card as a means of funding your trading account. 

Stock trading apps that accept debit card act as middlemen to complete stock trades, often charging a small fee for carrying out your orders.

Can you buy stocks with debit card?

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Yes, by using debit card to fund a trading account with a stock broker. 

To be clear, you can’t buy stocks on debit card. However, you can use it to make a deposit on a trading platform or brokerage account. All these recommended trading platforms accept debit card for deposits and withdrawals. 

How much does it cost to fund a trading account with a debit card?

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It’s free. Many trading platforms and brokerage accounts offer free deposits for all popular payment methods.  

However, you may have to pay a flat fee when you withdraw money with a debit card broker. You’ll also encounter trading fees, which vary from broker to broker. Below, are the trading fees for the top 3 debit card stockbrokers:

Asset eToro fees Plus500 fees Public fees
Cryptocurrencies 1% From 2% 1-2% (spread)
Commodities From 2 pips From 0.04%
Currencies From 1 pip From 0.8%
Indices From 0.75 pts From 0.7%
Stocks 0% commission From 0.08% Spreads
Stock CFDs 0.15%
ETF CFDs 0.15%
View more > eToro > Plus500 > Public >

Is it safe to buy stocks with a debit card?

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Yes, it is safe, as long as you use regulated debit card brokers. We only recommend regulated stock brokers that accept debit cards, 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 brokerage account, search for its company registration number with your local regulator. This way, you can find out if the debit card brokerage is regulated by a reliable financial authority or not. Here is the regulatory status of the best debit card stockbrokers in 2024:

Region eToro regulators Plus500 regulators Public regulators
Africa FSA
Asia
Australasia ASIC ASIC, FMA
Europe FCA, CySEC FCA, CySEC
International
North America FinCEN SEC, FINRA, SIPC
South America
View more > eToro > Plus500 > Public >

Do I need to provide ID when I buy shares using a debit card?

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Yes, if you’re using a regulated debit card 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 with most brokerage accounts.

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 debit card

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When deciding if you should invest with debit card, consider these benefits and drawbacks:

Pros

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  • Convenient. If you already use a debit card for everyday purchases, it’s easy to start using that same card to trade stocks online. Just link your card to your brokerage account and you can start trading.
  • Fast Deposits. You can fund your stock broker account quickly using a debit card, allowing you to begin trading stocks whenever you’re ready. 

Cons

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What to look for when investing with debit card brokers

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Once you’re established that the broker you’re considering accepts debit cards as a payment method, you want to ensure it offers a great service to its users before making an account. Here are some aspects you want to consider when comparing the service to others.

  • Low transaction fees. Most platforms won’t charge much per trade, but as most traders tend to buy and sell shares pretty frequently even small differences in fees can add up to big savings. The best debit card brokers have low investment fees and commissions.
  • Speed. Look for a debit card stock broker that will execute your stock purchases quickly and efficiently, so you can take advantage of market fluctuations.
  • Ease of use. The best trading platforms make the process of buying stocks online with a debit card a simple process, so don’t settle for less. 
  • A strong reputation. Good reviews and a solid track record can give you peace of mind that the debit card broker you’ve chosen is trustworthy and reliable.
  • Great customer service. The online broker you choose should offer fast, helpful, responsive customer service. Some trading accounts even offer 24/7 service to their customers.

Should I use a debit card stockbroker?

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There are lots of benefits to using a debit card with a stockbroker. Debit cards are convenient for many investors, and instantly transferring money between your bank account and brokerage account allows you to capitalise on investing opportunities faster. 

Using a debit card simplifies moving your existing cash. The ability to instantly access your funds is extremely useful, especially for active traders. Many debit card brokers, like eToro, offer mobile apps with low or no trading commissions. 

Before using this payment method, it is important to consider factors like investment choice, research tools, fees, and customer service to find the best debit card broker.

Find broker & sign up

FAQs

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Does eToro accept debit cards?
What stocks can I buy with a debit card?
Are there limits to how many stocks I can buy with a debit card?
Will a debit card stock broker let me trade with leverage?
Are there any deposit or withdrawal limits using a debit card?
Do Interactive Brokers accept debit card?
Does Robinhood let you use a debit card?
In what countries can I use my Robinhood debit card?
OK, I’m ready to choose a broker


Sources & references
Risk disclaimer
James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.