How to buy Shares using a Credit Card

Are you looking to invest in shares using a credit card in Australia? These two platforms are my top choices for buying shares and they offer a variety of deposit options including using a credit card:

Buying Shares on eToro

eToro offers a number of different deposit options including depositing with a credit card. On eToro you can buy US shares like Apple, Tesla, Netflix etc. As well as a huge range of ETFs (such as ARKK).

Trading shares on eToro is commission free. And when you buy shares you are buying the actual underlying asset. And not just trading a CFD like on Plus500.

As well as Shares, you can also trade a range of other assets like crypto and forex. eToro is my platform of choice for trading crypto alongside a portfolio of tech shares. Because there are no commissions of ongoing fees you can buy and hold shares for the long term.

You can find out more about eToro here

Buying Shares on Stake

Stake is a lot like eToro. You can buy US shares with no commissions. And they offer express funding using a credit card.

The main difference in using a credit card on eToro and Stake is the time that it takes. I've found the funding on eToro using a credit card is usually instant. On Stake it can take a number of days. You should also be aware that you can't withdraw funds deposited using a credit card on Stake for 60 days. This is an anti-fraud measure.

I use Stake to invest in a portfolio of ETFs. Stake has a huge range of ETFs to invest in. And being able to invest without any fees makes it a really good deal.

P.S – when you sign up to Stake, make sure you take advantage of their free stock offer.

Should you use a Credit Card to buy Shares

When you deposit using a credit card on either eToro or Stake, you pay a slightly higher foreign exchange conversion fee (when you deposit AUD your money gets converted into USD). Both of these platforms are much cheaper to use than traditional platforms like Commsec, which charges a large brokerage fee every time you buy and sell. So you'll still probably come out ahead. But if you're looking to get the best deal, I would recommend against using a credit card. It's better to be patient and use a slower and cheaper deposit option. If you deposit funds using a bank transfer you'll get a better FX rate.

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