Like most of us, you have probably imagined buying shares of a company that skyrockets in a couple of years in value, making you enough money to travel and chill for the rest of your life. Maybe even GameStop was among your top picks for buying its shares, or it will be. In reality, investing is a bit more complex than waiting for the birds flying into your mouth ready roasted, but hey, you have to start somewhere right?
The good news is that unlike back in the days, today you can buy shares in companies like GameStop fully online.
While we do not specifically advise to buy GameStop shares, this article explains in layman’s terms how you can buy shares in companies in general, taking GameStop as an example. Whether your first share to buy should be GameStop or not it’s for you to decide. We strongly suggest to contact investment advisors as this article is not meant to be investment advice under any circumstance.
If you are interested in our guide about how to buy shares online, click here.
Overview of GameStop
GameStop is a US Consumer Cyclical company, traded on the NYSE under the GME ticker. It is known for selling video games, electronics, and accessories, such as controllers or headsets. If you’d like to buy its stocks you need to find a broker that gives you access to the NYSE because that’s the main exchange it’s traded on (hang tight, we’ll get into this in a bit).
All of this doesn’t mean that GameStop is a good company or a bad one. As part of this example you might want to get reminded of what you are considering investing in though.
Let’s see the steps now!
Steps of buying GameStop shares
How to Buy GameStop Shares: A Complete Beginner-Friendly Guide
So, you’ve decided to invest in GameStop—great choice to start your investing journey. Before you can officially call yourself a shareholder, there are a few essential steps you need to follow. The process is largely the same for any stock, but we’ll use GameStop as a practical example.
Step 1: Choose the Right Online Broker
The first step is finding a broker that suits your needs. A crucial factor to check is whether the broker provides access to the NYSE, as that’s where GameStop shares are listed. Not all brokers offer access to every exchange, so this is essential.
Beyond market access, the broker should also match your personal preferences. Some platforms restrict account access based on your country of residence, while others may charge high fees that aren’t ideal for occasional investors. On the other hand, some brokers offer commission-free trading.
When evaluating brokers, consider key aspects such as fees, platform features, available markets, and how simple it is to open an account. Security is also critical, but since only well-regulated brokers are considered, this shouldn’t be a major concern.
Step 2: Set Up Your Brokerage Account
After selecting a broker, the next step is opening your account. This process is similar to setting up a bank account and is typically done entirely online. Some brokers allow instant registration, while others may take a couple of days due to identity verification procedures.
This account will hold your investments rather than just cash, so it’s an essential requirement before purchasing GameStop shares.
Step 3: Add Funds to Your Account
Before buying shares, you’ll need to deposit money into your brokerage account. This step is usually fast and straightforward—often even simpler than the account setup process.
Most brokers support funding via bank transfers and debit or credit cards. Some platforms also allow deposits through e-wallets like PayPal, depending on their available payment options.
Step 4: Buy GameStop Shares
Once your account is funded, you’re ready to make your purchase. Log in to your broker’s platform, search for GameStop stock, choose how many shares you want to buy, and place your order.
You’ll typically have different order types to choose from. A market order executes instantly at the current price, while a limit order lets you set a specific price at which you want to buy.
Step 5: Track and Manage Your Investment
Purchasing the stock is just the beginning. Ongoing monitoring is essential to stay aligned with your investment plan.
If you’re investing for the long term, you may want to follow company updates, earnings reports, and shareholder meetings. For shorter-term strategies, tools like take-profit and stop-loss orders can help you manage risk and lock in gains.
Now that you understand the full process, you’re ready to take the next step and explore the best brokers that match your investing style.
Best 5 brokers for buying GameStop shares
| Interactive Brokers | Interactive Brokers is a US discount broker. It is listed on a stock exchange and regulated by several authorities, including top-tier ones like the FCA and the SEC. | Visit broker |
| Alpaca Trading | Alpaca Securities LLC is US-based broker providing commission-free API stock trading. The company is regulated by the top-tier SEC and FINRA: | Visit broker |
| TradeStation Global | TradeStation Global is an introducing broker of Interactive Brokers. This practically means that assets and cash are held with Interactive Brokers, but services like fees and customer support are provided by TradeStation Global. TradeStation Global is regulated by the top-tier UK FCA. | Visit broker |
| Zacks Trade | Zacks Trade is a US discount broker that also allows international clients to open an account. Zacks Trade is a division of LBMZ Securities, which is regulated by SEC and FINRA. Customers are protected by the SIPC scheme, up to $500,000 (including a $250,000 limit for cash). | Visit broker |
| Saxo Bank | Saxo Bank is a Danish investment bank. It is regulated by several financial authorities globally, including the top-tier UK FCA. | Visit broker |
Fees for investing in GameStop stocks
You have to count with different kind of fees when you are trading with GameStop shares.
Commission is a fee, based on the traded volume or a flat fee per trade. For example, 0.1% of €10,000, $5/trade or $0.005/share.
Needless to say, these are different at each broker. Let’s see the fees of trading with GameStop shares at our recommended five brokers
| Saxo Bank | Fusion Markets | CMC Markets | Interactive Brokers | Capital.com | |
|---|---|---|---|---|---|
| EURUSD spread | 0.8 | 0.0 | 0.7 | 0.1 | 0.6 |
| GBPUSD spread | 1.3 | 0.2 | 0.9 | 0.3 | 1.3 |
| AUDUSD spread | 0.8 | 0.0 | 0.7 | 0.1 | 0.6 |
| EURCHF spread | 1.4 | 0.6 | 2.5 | 0.4 | 2.2 |
| EURGBP spread | 1.4 | 0.3 | 1.1 | 0.2 | 1.5 |
How to reduce risks
How to Manage Risk When Investing in GameStop Stock
All investments involve a certain level of uncertainty, and investing in GameStop is no exception. Being aware of the potential risks—and how to handle them—can make a significant difference in protecting your capital.
Watch Out for Investment Scams
Risk:
There are many fraudulent brokers and schemes online designed to take advantage of investors. Be particularly cautious when you encounter ads promoting binary options or “automated” trading systems that promise unusually high or guaranteed returns—these are often warning signs.
How to manage it:
Stick to reputable, well-established brokers when buying shares online. Choosing platforms that are regularly reviewed and tested can help ensure a safer investing experience.
Diversify Your Investments
Risk:
Allocating all your funds into one or two stocks can be risky. If GameStop underperforms or faces unexpected challenges, your entire investment could be negatively impacted.
How to manage it:
Build a diversified portfolio by investing in multiple stocks rather than relying solely on GameStop. This approach spreads risk across different assets and reduces the impact of a single poor performer. A balanced portfolio typically includes around 20 to 30 stocks, depending on your investment strategy.
Bottom line
How to purchase GameStop shares online?
Just follow these five easy steps:
- find a broker
- open your account
- fund the account
- buy the share
- review your position
It may look tricky for the first time but all you need to do is progress step-by-step.
