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How to buy stocks with Paysafecard 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 a stock broker that accepts Paysafecard, charges low fees, and keeps your money secure
- How to buy stocks with Paysafecard for the first time
- The pros and cons of buying stocks with Paysafecard
Where to buy stocks with Paysafecard
Copy link to sectionThe best stock broker that accepts Paysafecard is eToro .
Here are three more stock trading platforms where you can buy stocks with Paysafecard, ranked according to their trading fees, security features, and platform reliability.
77% of retail CFD accounts lose money.
How to fund your Paysafecard broker account
Copy link to sectionIt takes 10-15 minutes to set up a trading account with a broker that accepts Paysafecard. Follow this guide to learn how to invest with Paysafecard.
Step 1. Sign up with eToro
Copy link to sectioneToro is the best stock broker that accepts Paysafecard 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 Paysafecard brokerage is different.
Step 3. Choose Paysafecard 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 Paysafecard.
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 Paysafecard deposits.
Double check the details and then make the deposit. You may have to confirm the transaction with Paysafecard 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.
Quick answers to key questions
Copy link to sectionWhat is a Paysafecard stock broker?
Copy link to sectionA trading platform where you can buy and sell stocks and which accepts Paysafecard as a means of funding your trading account.
Stock trading apps that accept Paysafecard act as middlemen to complete stock trades, often charging a small fee for carrying out your orders.
Can you buy stocks with Paysafecard?
Copy link to sectionYes, by using Paysafecard to fund a trading account with a stock broker.
To be clear, you can’t buy stocks on Paysafecard. However, you can use it to make a deposit on a trading platform. All these recommended trading platforms accept Paysafecard deposits.
How much does it cost to fund a trading account with Paysafecard?
Copy link to sectionIt’s free. Many trading platforms offer free deposits for all popular payment methods.
However, you may have to pay a flat fee when you withdraw money to Paysafecard.
Is it safe to buy stocks with Paysafecard?
Copy link to sectionYes, it is safe, as long as you use a regulated broker. We only recommend regulated stock brokers that accept Paysafecard, 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 Paysafecard brokerage is regulated by a reliable financial authority or not.
Do I need to provide ID when I buy shares using Paysafecard?
Copy link to sectionYes, if you’re using a regulated 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 Paysafecard
Copy link to sectionWhen deciding if you should invest with Paysafecard, consider these benefits and drawbacks:
Pros
Copy link to section- Anonymous. Paysafecard does not require you to link to a bank account, credit card, or any other financial medium that leaves a digital trail. If the broker you select offers the same level of anonymity, that’s a big plus for privacy-minded investors.
- Easy to buy. You can get a Paysafecard at hundreds of thousands of bars and markets around the world.
- Fast. You can fund your stock account within minutes, allowing you to begin trading stocks whenever you’re ready.
Cons
Copy link to sectionWhat to look for when investing with Paysafecard brokers
Copy link to sectionYou don’t just want to find a service that supports Paysafecard payments, but also a broker that offers a great service. Here are a few factors to consider:
- Speed. Paysafecard stockbrokers should allow you to complete your trades within minutes. The stock market moves fast and you want to be able to react immediately as it fluctuates.
- Ease of use. The best brokers are intuitive and easy to use. Your time should be spent analysing stocks and making trades, not figuring out how your chosen trading platform works.
- Great customer service. The broker you choose should offer fast, helpful, responsive, no-hassle customer service.
- Low transaction fees. Most stockbrokers won’t charge much per trade – but a difference of just a few pounds between one broker and another can add up. This is especially true if you plan on making regular trades. Look for brokers that charge the lowest transaction fees so you don’t lose money unnecessarily.
- A strong reputation. Strong reviews and a solid track record can reassure you that the trading platform you’ve chosen is effective and reliable. Ideally, look for a service that has been around for a few years.
FAQs
Copy link to sectionMore stock payment methods
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >