Upwork is an American company that has taken the freelance industry by storm. Its measures to keep the platform a safe marketplace continue to attract millions of businesses and independent talent globally to meet and accomplish incredible things. For this reason, the company has growth potential, attracting investors from diverse regions to buy Upwork shares.
Our comprehensive guide will take you through the step by step procedure of buying shares in Upwork. At the end of this content, we hope you will have a better understanding of Upwork as a company and whether investing in Upwork stock is an attractive investment.
Top 3 Brokers for Buying Upwork Shares
Upwork stock is listed on the NASDAQ under the ticker UPWK. To easily access the NASDAQ and purchase UPWK stock, you need a reliable broker with access to the exchange. Using a broker to buy shares in Upwork gives you diverse opportunities, from quality investment tools to trading Upwork shares as derivatives (CFD and indices). You can also use brokers to buy fractional shares.
Finding the best broker to buy Upwork shares in the UK is not an easy feat. The procedure can be lengthy and overwhelming and if you are not patient and keen, you might still end up with the wrong broker. In this regard, we did all the legwork and have shared below the top three brokers to help you get started.
1. Interactive Brokers
Like eToro and IG Markets, Interactive Brokers allows trading of Upwork shares commission-free on its IBKR Lite platform. There is also no minimum deposit requirement and spreads are low. This makes IBKR an excellent choice for budget-conscious traders and investors looking for quality resources.
Besides Upwork stock, you can trade forex, commodities, cryptocurrencies, futures, etc with the broker Interactive Brokers also has a reliable mobile app to keep you managing your trading and investment activities on the go.
On the flipside, Interactive Brokers’ plenty of trading tools may confuse newbies and find the platform challenging to use. Its customer service is also available five days a week, limiting active traders.
Trading or investing in Upwork stock with eToro is commission-free and is done on a user-friendly platform loaded with quality materials. This includes a demo account funded with £100,000 practise share trading and try other securities offered.
Additionally, eToro has a social trading platform that allows you to meet and exchange trading ideas with other traders. You can also follow professional traders and mirror positions with profit potential to earn profits when they do.
Unfortunately, eToro’s copy trading platform requires a £300 minimum deposit and a minimum amount per trade of £500. The broker charges high spreads.
3. IG Markets
Like eToro, IG Markets allows trading of Upwork stock commission-free. The broker features a social trading platform called IG Community where you can interact and learn trading tips from other traders. IG Markets hosts quality research materials on its MT4, ProRealTime, and L-2 Dealer platforms. There is a demo account funded with £20,000 virtual funds to help you get familiar with the share market before putting up real money.
IG Markets falls short when it comes to trading and non-trading charges. For instance, its minimum deposit is £300, and spreads are high. The broker requires you to trade at least three times within three months;failure to do so will result in a quarterly subscription fee of £50.
How to Buy Upwork Shares With Interactive Brokers
Many traders are skeptical about diving into the share market and buying UPWK stock because they do not understand the procedure of purchasing Upwork shares. However, note that the processes involved are straightforward as long as you provide the necessary information and documents required by a broker.
That being said, let’s take a look at how to buy Upwork shares with Interactive Brokers.
You need to create a share trading account with Interactive Brokers (IBKR) to buy shares in Upwork. Therefore, the first step is to visit the broker’s website using the links we have provided on this page.
On the website, you should read, understand and accept IBKR terms and conditions to avoid future conflicts. It is also advisable that you install IBRK’s trading app on your mobile device to keep track of your activities on the go.
To create a share dealing account with IBKR, you will share your personal details, including name, address, phone number, email, etc. You will also share details regarding your source of income and tax. In addition, a username and password will be required to secure your trading account.
Traders using IBKR are required to verify their trading identities and locations to keep their accounts safe. This is a standard procedure by all FCA regulated brokers, and therefore, you will share a copy of your ID card or passport and a bank statement or utility bill.
Verification may take up to 2 days, and once your account is activated, IBKR will send you a notification via email. Note that Interactive Brokers will allow you to review the information you shared, after which you will sign a virtual contract.
There is no minimum deposit requirement at Interactive Brokers. Therefore, you will deposit any amount you can afford to access NASDAQ and buy UPWK stock. IBKR allows transactions using various payment methods, so choose a method that is convenient for you. The good news is that you will make the deposit free of charge.
You will then access NASDAQ, search for the Upwork stock under the ticker UPWK, and complete your purchase commission-free. Fortunately, IBKR also allows trading of Upwork shares as CFDs or indices. You can buy UPWK shares as fractions. All in all, choose a method that you are well versed with and understand the risks.
Tips on How to Choose the Best Stock Broker to Buy Upwork Shares
Now that you know the top three brokers to buy UPWK stock, you need to choose the one meeting your investment needs. However, if you decide to find a stock broker on your own, various elements should be considered. Below, we have listed the features that make a stock broker a suitable choice. Our experts applied them in their search for the top three brokers, and we thought sharing with you might be of great importance.
The best stock broker for buying UPWK stock should be licensed and regulated by the FCA. Choosing such brokers helps you avoid falling victim to fraudulent brokers looking to scam you. Moreover, FCA regulated brokers have put the necessary measures to secure your trading funds and give you the best trading experience.
The last thing you want is to choose a stock broker with a platform that lags your activities, thus minimising your potential. So, consider a platform with fast execution speed to allow you quickly take advantage of arising opportunities. The platform should preferably host market analysis resources and educational content to boost your skills.
Additionally, you need a broker with a trading app since you won’t be sticking around your trading station at all times. By installing the app on your mobile device, you will be able to monitor your investments and trades on the go.
Since UPWK stock is listed in the NASDAQ, you need to find a broker with access to the exchange. As a trader, you need to test other markets and diversify your portfolio. That is why we advise you to settle for a stock broker with additional financial instruments such as forex commodities, cryptos, and more. The broker should also allow you to trade UPWK shares as derivatives.
You need to have a budget and choose a stock broker that fits it. This is because some brokers have higher trading and non-trading charges than others. Therefore, confirm a broker’s minimum deposit requirement, commissions and spreads, etc. and ensure there are no hidden costs.
When buying Upwork stock, you may encounter challenges along the way that require quick clarifications or resolutions. Having a reliable and responsive support service in your corner will help you easily handle the situation. Note that some brokers have 24/7 customer service while others only operate five days a week. Therefore, when choosing a broker to buy Upwork stock, ensure its customer service availability fits into your trading schedule.
Before using any broker to buy shares in Upwork, you need to test it on its demo account and decide whether it aligns with your trading needs. If you have zero experience in the share market, a demo account is also the best platform to practice how trading and investing in shares work before investing your hard-earned money into UPWK shares.
Upwork Shares Price Today
It is challenging to get an accurate share price of Upwork, considering it has been fluctuating throughout the years. However, knowing the current Upwork share price helps you track Upwork’s performance and identify the right time to invest.
For this reason, we have prepared a live chart below for you to get Upwork’s current share price. There is also additional information in the chart to help you in strategy development.
Upwork Inc is an online-based talent marketplace that connects businesses and independent contractors or agencies to exchange freelance services and get paid. These services include writing, web designing, customer service, social media management, e-commerce development, search engine optimisation, and more.
Founded in 2015 through a merger between Elance and Odesk, Upwork has witnessed continued support and growth. The company’s growth took a high turn during the COVID-19 pandemic when individuals saw the need to find online jobs to survive. It is currently located in Santa Clara and San Francisco, the United States, serving clients globally.
Upwork stocks are traded as UPWK on the NASDAQ exchange, and its share price is currently (as of 10th January 2022) at around £20. Its operations under the leadership of Hayden Brown has brought about changes that keep Upwork a safe marketplace, thereby attracting millions of talented freelancers to apply for jobs.
Buying Upwork shares is easy when using an online broker with access to NASDAQ, where UPWK stock is listed. However, finding such brokers can be gruelling, and that is why we have listed the top three above to help you get started.
Yes. Upwork continues to catch users’ attention globally, and its measures to offer better services indicate that the company has growth potential. So, if you want to buy Upwork stock, now is the time since Upwork share price may rise in the coming years.
No. Upwork does not pay dividends to its shareholders since its revenue is currently directed at expanding the company.
You can buy a fraction of Upwork shares using an online stock broker like those referenced above.
Currently, Upwork operates under the leadership of Hayden Brown, who is the president and CEO of the company.
Upwork is a marketplace where freelancers, also known as contractors, meet with clients to offer their services and get paid. These services include writing, web development, graphic design, etc.
We hope that this guide has cleared any doubts you had about buying UPWK stock and realise that it is a good investment. You see, Upwork stock has been fluctuating over the years and has shown significant improvement since 2020, when most individuals decided to venture into online jobs to survive during the pandemic. Upwork is a volatile asset, and investing in Upwork stock now that the share price is still low can pay off in the long run.
Never venture into Upwork shares without conducting extensive market analysis. By using the live chart provided above, you will be able to monitor Upwork share price performance and identify the best time to make a move. Most importantly, take your time choosing the best broker to buy UPWK shares by considering the elements mentioned above.