How To Purchase GameStop Shares [2023 Update]

Our team at findabroker.online has designed this guide to help you understand how to Buy GameStop Shares.  When buying shares it is important to use a good, reliable broker to make the transaction easy.

Below we detail in full how to purchase GameStop stock including what to be careful of and also help finding the best broker for your needs.

The following is an overview of the process to procure GameStop stock.

  • Decide how you want to trade in GameStop. Do you want to to trade in GameStop CFDs or GameStop Stock.
  • Register with a leading GameStop broker that suits your needs. We suggest registering with a few to see which one best fits your needs. (Currently the top two online brokers for GameStop are IC Markets and XTB).
  • Do some detailed research on GameStop financial reports. (IC Markets and XTB both provide research tools and resources).
  • Finalise your budget and decide how many GameStop shares you want to buy.
  • Buy or Sell your GameStop shares with your chosen broker by placing an order.

You can easily buy GameStop stock with one of the leading brokers listed below depending on the type of trading you wish to conduct. You can buy GameStop stock with a broker like eToro or you can trade GameStop CFDs with XTB.  It really is quite simple to start trading GameStop shares today.

If you are purchasing shares in the UK or Europe, eToro offer 0% commission on stock. This makes eToro a wise choice of broker when learning how to purchase GameStop stock.

when a client buys GameStop stock at 1x leverage with eToro, it is completely commission free and you would be buying the actual stock.

Also with eToro, you can buy fractional shares – The Minimum deposit with eToro is $200, and to buy shares, $50 is the minimum trade.

eToro are not only market leaders but also one of the cheapest places to buy GameStop stock.

 

 

Scroll down to read our in depth article on How To Buy GameStop Stock. What you should know, Types of trading GameStop Stock and CFD’s. Pros and Cons, everything is explained below in our complete guide.

How To Buy GameStop Shares Guide

Buying GameStop Stock and CFDs

When investing in GameStop you have several options open to you and it is largely dependent on what type of investment you want to do. You can easily buy traditional GameStop shares with one of our recommended brokers or you can trade what is known as a CFD (contract for difference).

In this ultimate guide to buying GameStop shares we will detail for you the difference between the two so when you do come to invest in GameStop you will be able to decide if you want to buy stock or CFD’s.

 

GameStop Traditional Stock Dealing vs CFD Trading

CFD (Contracts for Difference) trading is pretty much what it sounds like, an agreement for the “difference”. In trading, this is basically a contract whereby two parties agree that the seller will pay the difference in the value of two financial instruments, usually defined as “buyer” seller”.

It is defined by Merriam Webster as: “A contract made by two or more persons in which they agree to exchange one or more securities for another or a difference in their value; or a contract entered into by a person who has bought a security, the difference between that amount and the price paid for it.”

If you are thinking about buying or selling stock in GameStop, you must first determine if you want to participate in CFD trading or not. If you decide that it’s a good way of making money, then you need to learn more about CFD trading and the best way to do that is sign up for a demo account with a reputable online broker like IC Markets.

CFD trading is a lot like stock trading, except when you exchange a CFD you do not actually own any GameStop stock.

If you buy GameStop stock with a leading online broker you actually own a share of GameStop. When you trade a contract for difference (CFD) you only have an agreement between you and your CFD broker speculating whether the GameStop share price will change up or down.

So why you would buy GameStop as a CFD instead of stock?

It’s all about leverage…

If you purchased 100 GameStop shares at $50 a share with an online broker you now own $5,000 worth of GameStop.

If you bought GameStop as a CFD you can get GameStop as a share in contracts for difference as they offer increased leverage.

Contracts for difference are traded on margin which means to have $5,000 invested in GameStop you would not need to invest the full amount as you would with a stock broker. Some online brokers offer leverage at 1:100 so you would only have to invest $50 ( known as the CFD margin ) with a CFD to hold the same position in GameStop. Trading a GameStop CFD allows investors to hold larger positions than their invested amount.

But be aware that although investing in a GameStop CFD like this amplifies any potential profit, it also exaggerates your potential losses which may exceed the amount you invested. To guard against this, it is advisable to go with an online broker that offers negative balance protection.

CFD Trading vs Ordinary Share Buying

If you invested in GameStop shares with an online broker you would only lose the amount you invested as you pay the total cost of your position to your broker upfront. It is a 1:1 transaction so there is no leverage.

Buying a GameStop CFD long would be hoping to profit from the share price of GameStop rising. A GameStop CFD short would be that you believe the stock price of GameStop is going to fall. Trading CFDs allows you to profit from the stock price moving in either direction.

This gives you a much greater chance to be flexible and move with the markets…. Just imagine if you’d shorted airline stock CFD’s just before Coronovirus in 2020….

By buying normal GameStop shares you can only profit from a rise in the GameStop stock price.

 

Stock Market Times For Trading GameStop Shares & CFD’s

If you are purchasing ordinary GameStop stock then your trades are limited to when the stock exchange is open if you are trading GameStop CFD’s then you have a 24/7 access to the market 🙂

 

How To Buy GameStop Shares With An Online Broker

Buying GameStop shares with a reputable online broker minimises your risk to losing everything as you have to purchase the total amount up front.  Online brokers offer no leverage when buying GameStop shares. This means that your risk is limited to your initial investment into GameStop.  You can only lose what you put into GameStop shares.  Another benefit of buying GameStop shares with an online broker is that you may be eligible to receive GameStop dividends.

If you invest into GameStop via a CFD, you have no privileges as a shareholder as you don’t actually own the underlying shares.  If you buy GameStop stock through a CFD however, the returns (or losses) can be much greater.

If you own shares in GameStop you may be eligible to voting rights at GameStop shareholder general meetings.

 

What Are The Tax Rules Around Owning GameStop Shares?

This will depend what country you live in as tax laws vary wildly. You should contact your local tax office for complete clarity but normally CFD’s are free from stamp duty. If you looking to buy GameStop stock through a CFD, then losses can normally be offset against profits when you submit your tax return.

Generally, Investment in GameStop stock are only exempt from tax if the GameStop shares is bought through an ISA ( Individual Savings Accounts ) or SIPP ( Self Invested Personal Pension ).

 

Should I Trade GameStop Shares or GameStop CFDs?

There are pro’s and cons to both GameStop stock or CFDs.  Choosing which one is right for you comes down to your appetite for risk.

For long term investments then normally investing in GameStop stock is the better option as historically companies produce better results over the long term.  For example, If you had bought $1,000 worth of Apple shares on January 9, 2007, (the day Steve Jobs unveiled the original iPhone), your investment would now be worth over $26,000.

Trading GameStop CFDs is best suited for intra day and mid term traders.  With intra day trading on GameStop, you would be aiming to make profits on the fluctuating highs and lows of the GameStop stock price throughout the day.  Known as “Day Trading”, it focuses on profiting on the daily price change of GameStop.

With CFD trading you can short or long a GameStop stock price and you can hedge a trade against another trade.

A hedge is an investment that protects the money you have invested from risk. Traders hedge to minimize or offset a loss in value of the GameStop share price.

Both strategies have different risks and benefits and, as mentioned, it is down to you to decide which one is correct for you.

 

Example Cost Of Buying GameStop As A CFD Trade Or As Direct Stock Side by Side

*The below table is not using live values and is only for illustration purposes. Please open an account with a leading online broker like IC Markets or XTB for correct prices.

CFD and share deals differ from broker to broker so check you are aware of the actual costs with your brokers.

GameStop CFD trade example GameStop share deal example
Market price $1,000 $1,000
Broker Deal Invest $200 at 1:5 Margin (20%) Buy at $1,000 a share
Deal size 100 shares 100 shares
Initial outlay $20,000

(Margin = exposure x 20% margin factor)

$100,000

(100 shares at $1,000)

Stamp duty No £20
Close price Sell at $1125.7 Sell at $1125.7
Estimated Profit (125.7 point increase x 100 shares = $12570)

 

*Not including commission fees and taxes

($112,570 – $100,000 = $12570)

 

*Not including commission fees and taxes

Trade GameStop CFDs now with XTB

Trade GameStop Shares now with IC Markets

 

Our brokerage comparison table below allows you to compare the features for the leading online brokers offering GameStop shares and CFDs

When we were collating the top online brokers that offer the ability to trade GameStop stock, we compared all the important factors to help you make an informed choice.

  • The minimum deposit to open an account.
  • Available funding methods for GameStop brokers.
  • What types of trade you can perform with each brokerage.
  • Which trading platforms that are supported by the brokers.
  • Spread type (if applicable) for each brokerage.
  • Levels of customer support offered.
  • Whether each GameStop brokerage offers Micro, Standard, VIP and Islamic accounts.

 

How To Buy GameStop Shares Explained

Trading in the financial markets with GameStop Brokers when conditions are uncertain can be difficult, even for very experienced traders.

There are educational resources online but they are never a substitute for actual trading experience which you can only get if you get started. 

This is why we recommend opening a demo account with a reputable online broker like plus500 or FP Markets and learn the system of trading well before risking your own money.

Another important factor you must consider when searching for GameStop brokers is what platforms does that GameStop broker offer.

You should always choose a GameStop broker that has leading technology and innovation processes.

To have the greatest chance of success you will need a GameStop broker you can trust and rely on.

 

7 Factors to Consider when Selecting a GameStop Broker

Follow these seven rules for selecting a GameStop broker that’s right for you.

 

Is Your GameStop Broker Trusted And Established?

Choose a broker that has an excellent track record in the financial markets to make sure you have the bases covered when beginning to trade online.

One of the best GameStop brokers is IC Markets. They were established in 2007 and their head office is in Australia.

IC Markets is fully regulated so you can trust that they are a professional company. IC Markets is regulated and governed by the following regulatory bodies:

Australian Securities and Investment Commission (ASIC), 

Financial Services Authority (FSA), 

Cyprus Securities and Exchange Commission (CySEC) 

Another top GameStop broker is XTB

XTB was established in 2002 and have their head office in Poland

Another top rated broker is XTB.

XTB is fully regulated so you can trust that they are a professional company. XTB is regulated and governed by the following regulatory bodies:

Australian Securities and Investment Commission (ASIC), 

Financial Services Authority (FSA), 

Cyprus Securities and Exchange Commission (CySEC) 

 

Are The GameStop Brokers World Leading?

Try to choose an online GameStop broker that’s at the forefront of innovation and generally considered an industry-leader. 

IC Markets separates client funds and offers over 232 instruments for trading. IC Markets offers both an online trading solution as well as a mobile platform giving their clients easy access to global markets.

IC Markets is classed as a world-leader when it comes to innovation and they are always looking at ways to improve and to maintain their competitive advantage.

IC Markets also supports many popular third-party trading solutions enabling full access to a variety of economic markets worldwide that can be traded with the assistance of expert advisors or a customizable automatic trading strategy. 

Another good choice when looking for GameStop Brokers is XTB

XTB also segregates clients funds and offers over 1,500 instruments for trading.

 

What are the Commissions and Fees For GameStop Brokers?

For safety make sure that your broker is transparent and you fully understand all their fees and make sure they are competitive with other GameStop online brokers.

Currently, the best-rated GameStop broker IC Markets, offer very competitive rates for Forex, CFD’s, Share Dealing, Cryptocurrencies and Spread Betting.  The minimum deposit for IC Markets is $200.

A second top GameStop broker is XTB who offer CFD’s Cryptocurrency, & Forex.  XTB have no minimum deposit so a great choice to get started with.

 

What are the Funding and Withdrawal Options For GameStop Brokers?

When working with GameStop Brokers, having easy funding and withdrawal facilities makes the trading process and your trading experience smoother. It is also important so that you can get easy and quick access to your money if needed.

 

Which GameStop Brokers offer Round-the-clock support?

No matter if you are new to investing or an experienced trader, customer service is universal and very important for GameStop brokers.

Having access to professional customer support is vital for everything from trading problems to trying to understand the tools that your broker offers.

The customer support of the best GameStop brokers normally include Phone, Email and Live Chat customer support.

Choosing a top GameStop broker will also mean that they can communicate in multiple languages to speed up any questions you might have.  Normally they cover English, Chinese, Danish, German, Afrikaans, Japanese, Polish and more.

IC Markets support a wide range of languages including English, Japanese, Chinese, Polish, Afrikaans, Danish, Dutch, German and more

XTB support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish

Both IC Markets and XTB offer full support where clients are able to call or contact their helpdesk via email or live chat.

 

Does Your GameStop Broker Offer Comprehensive Trader Resources?

Any top online GameStop broker in should offer free tools and resources like analysis and risk management tools.  Leading brokers like IC Markets and XTB also provide breaking news and personalised insights to their clients.

Another great resource for up to date information, news and support is us.  We pride ourselves on making financial choices simple 🙂

For most traders, their main concern is keeping an edge over other traders which can only be achieved by absorbing as much up-to-date information as possible. It will help you navigate the markets and identify opportunities that you can exploit through trades with your broker.

But to do that you need the best broker who is quick and efficient to execute your trades.

 

Why Do GameStop Brokers Need To Be Regulated?

Because a regulated GameStop broker lowers your exposure.

Broker regulation is there to protect consumers. If you use an unregulated broker then it will lead to very poor services and potentially financial harm or even fraud.

GameStop brokers are mainly regulated to protect against fraud. They have to keep their money separate from their clients money as if they use client money for their own work they commit fraud. The regulation ensures this doesn’t happen.

 

How To Buy GameStop Stock – Frequently Asked Questions

How Can I Buy Stock In GameStop?

The following is an overview of the process to procure GameStop stock.

  • Decide how you want to trade in GameStop. Are you interested in GameStop CFDs or GameStop Stock.
  • Register with a leading GameStop broker that suits your needs. We suggest registering with a few to see which one best fits your needs. (Currently the top two online brokers for GameStop are IC Markets and XTB).
  • Do some detailed research on GameStop financial reports. (IC Markets and XTB both provide research tools and resources).
  • Finalise your budget and decide how many GameStop shares you are going to buy.
  • Buy or Sell your GameStop shares with your chosen broker by placing an order.

 

Can I Buy GameStop Stock Directly From Them?

You cannot buy GameStop shares directly from GameStop. Shares in GameStop must be purchased through a stock brokerage firm.

You can buy GameStop stock with a stock broker like IC Markets or you can trade GameStop stock via CFD share trading with a broker like XTB.

 

How Much Does It Cost To Buy GameStop Shares?

All the numbers in this article are for illustration purposes only.  To get the latest GameStop share price, either Google it or sign up with IC Markets or XTB.

 

What Is The Minimum Required Investment For GameStop?

The minimum investment to buy stock in GameStop would depend on the current share price of GameStop and the costs associated with the stock or CFD broker your decide to trade with.

The price of a GameStop share changes by the minute. Your other costs would be the minimum deposit required by your brokerage and any commission fees you have to pay for buying and selling your GameStop stock. You can buy GameStop shares with a stock broker like IC Markets or you can trade GameStop shares via CFD share trading with a broker like XTB.

both brokers have a low minimum deposit to trade so you can start trading straight away.