Oil has been perfomring well in 2022, owing to increased tensions in Ukraine, economic sanctions placed on Russia, and broader supply chain issues. As such, you might be looking to add some oil stocks to your investment portfolio today.

In this guide, we explain how to buy oil stocks in 2023.

How to Buy Oil Stocks

If you’re simply looking for a overview of how to buy oil stocks today – follow the step-by-step below:

  • ✅Step 1 – Open a Trading Account:  Users can head over to the website of their preferred broker and begin the registration process. Enter your personal details and create a username and password.
  • Step 2 – Upload ID: Get your newly created account verified instantly by uploading a copy of your ID. Choose from a passport, state ID, or driver’s license.
  • Step 3 – Deposit Funds: Users can deposit funds by choosing a payment method which may include e-wallets, credit/debit cards, and ACH.
  • Step 4 – Buy Oil Stocks: Users can search for their preferred stocks on the search bar of their platform and begin the open order process. Enter the amount you wish to invest and confirm the transaction.

Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider.

Many brokers in the US give you access to oil stocks. But, the popular platforms in this industry offer low fees and small account minimums-  not to mention a variety of investment tools and features.

Check out our reviews of the popular brokers that allow you to invest in oil stocks.

1. eToro 

eToro is a popular social trading platform is now used by more than 25 million people in the US and beyond and you will have direct access to thousands of stocks.

This covers a huge range of oil stocks in the US and across more than a dozen international exchanges. Some of the foreign marketplaces that eToro supports include exchanges in the UK, Hong Kong, Canada, Germany, and more. All of the oil stocks offered by eToro can be bought and sold at 0% commission. It’s also worth mentioning that with an eToro trading account, you’ll have access to a wide range of markets from the popular penny stocks, to the popular dividend stocks and the popular NFT stocks

More importantly, this is the case irrespective of whether your chosen oil stocks are based in the US and foreign markets. eToro offers a home for budget investors, not least because you can risk just $10 per stock via its fractional ownership tool. And, when you buy fractional oil stocks you will still be entitled to your share of dividends.

etoro review stock trading

Another option to buy oil stocks is to invest in an ETF. There are many oil-centric ETFs hosted on the platform – including but not limited to the United States Oil Fund and the SPDR S&P Oil & Gas Exploration & Production ETF. Just like stocks, oil ETFs can be traded on the eToro platform commission-free and from a minimum investment of just $10.

Users can also invest with the eToro copy trading feature. Once you have selected a seasoned investor to copy, any future trades that they place will be replicated in your own eToro portfolio. Smart portfolios are also popular at eToro – as they offer a basket of stocks that are managed on your behalf.

If you’re looking to diversify away from oil stocks at some point, eToro also allows you to invest in cryptocurrency from just $10 alongside low fees. You can also use the eToro stock app to buy and sell assets on the move. The app is available for both iOS and Android devices.

You can open an eToro account in a safe and regulated environment in under five minutes. US clients simply need to meet a minimum first-time deposit of $10 and USD payments attract no fees. You can even deposit funds instantly using a Visa or MasterCard, alongside PayPal, Skrill, Neteller, or WebMoney.

Minimum Deposit $10
Fractional Shares? Yes – $10 minimum
Pricing System 0% commission on all oil stocks and ETFs
Cost of Buying Oil Stocks Spread only

Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider.

2. Webull 

webull logoWebull is a well-known online broker that allows US clients to buy thousands of stocks listed on the NASDAQ and NYSE. You can open a Webull account in less than 10 minutes and there is no minimum funding requirement. As such, you can get started with any amount of your choosing.

Webull only requires you to meet a minimum stock purchase of $5 via its fractional ownership tool. This is the case regardless of how much your chosen oil stocks are trading for. When it comes to fees, Webull does not charge any trading commissions when you buy and sell oil stocks. 

webull platform screenshot

This is also the case if you decide to buy oil ETFs. In fact, you can also use the Webull platform to trade oil stock options on a commission-free basis. If you are able to deposit at least $2,000 into your Webull account, you can also elect to buy oil stocks on margin. This should give you access to a 50% margin facility, meaning that you can double your investment stake. 

The main issue with Webull is that it only allows you to gain exposure to foreign oil companies via  American Depositary Receipts (ADRs). Not only does this access your ability to diversify across a large number of oil markets, but you will often need to pay a double taxation rate. Moreover, unless you are happy to deposit via ACH, domestic bank wires cost $8 per transaction. 

Read our eToro vs Webull comparison review to find out more about the two brokers. 

Minimum Deposit $0
Fractional Shares? Yes – $5 minimum
Pricing System 0% commission on all oil stocks, ETFs, and options
Cost of Buying Oil Stocks Spread only

Your capital is at risk.

How Much Does it Cost to Buy Oil Stocks?

When you buy and sell oil stocks online you will invariably need to pay a fee to the brokerage you trade through.

The most important fees to look at when assessing the best energy stocks online are summarized below:

Funding Charges

No funding fees are charged to US clients that use the eToro platform across all supported payment methods. This is also true for making a withdrawal. But, some platforms will charge you both a deposit and withdrawal fee – so check this before proceeding.


Both eToro and Webull enable you to buy oil stocks online without paying any commission. This is the case across many online brokers when it comes to buying oil stocks that are listed in the US.

However, if you want to buy oil stocks that are listed on a foreign exchange, then additional fees will always be charged by the respective broker.


It is also worth exploring how much your chosen broker charges in spreads when you buy and sell oil stocks – which is the gap between the bid and ask price. The narrower the gap, the more competitively priced the broker is.


This guide has reviewed some of the popular platforms that let users invest in oil stocks. Users can assess the available options and choose their preferred brokers by comparing them based on their fees, assets, features and more.

Frequently Asked Questions on Buying Oil Stocks 

How do I buy oil stocks?