Buy GME Stock

Have you ever dreamed of buying shares in a company that will skyrocket in value, allowing you to travel and relax for the rest of your life? If so, you’re not alone. GameStop may even be on your list of top picks for investing, but before you start, it’s important to understand that investing isn’t as simple as waiting for a stroke of luck. However, don’t let that discourage you. Everyone has to start somewhere, right?

Thankfully, buying shares in companies like GameStop is much easier than it used to be. With online investing, you can purchase shares from the comfort of your own home.

To be clear, we’re not here to advise you on whether or not you should invest in GameStop. Instead, this article will explain, in easy-to-understand terms, how to buy shares in companies in general, using GameStop as an example. Ultimately, whether or not to make GameStop your first investment is up to you, but we strongly advise you to consult with an investment advisor, as this article is not meant to be taken as investment advice under any circumstances.

A Quick Overview of GameStop

GameStop is a consumer cyclical company based in the United States, and its shares are traded on the New York Stock Exchange (NYSE) under the ticker symbol GME. The company is known for selling video games, electronics, and related accessories, such as controllers and headsets. If you’re interested in purchasing shares of GameStop, you’ll need to find a broker that can provide you with access to the NYSE.

However, it’s important to note that the fact that GameStop is a well-known company doesn’t necessarily make it a good investment. As you consider investing in GameStop or any other company, it’s important to do your due diligence and understand what you’re getting into.

With that in mind, let’s take a look at the steps you’ll need to take to start investing in shares.

Steps of buying GameStop shares

Okay so for your own reasons you have decided you’d like to buy GameStop. That’s a good start. Let’s see what lies ahead of you before you can officially state that you are a shareholder of GameStop! The process is rather similar for any company shares and again, we only take GameStop as an example.

Step 1: find a good online broker

One of the characteristics of an online broker is the exchanges they have access to. Not all brokers allow you to buy shares of GameStop, simply because they don’t have access to the NYSE. Needless to say, you need a broker that gives you access to this exchange.
The next important thing with a broker is that it should fit you as well. Not all brokers allow every citizen to open an account with them; some brokers are super expensive if you just want to buy a couple of GameStop shares every once in a while, some brokers can be absolutely free. You can actually get great recommendations on choosing the right broker using our questionnaire:

When recommending a broker, we take into account different factors, like the broker’s fees, trading platform, accessible markets to trade, and how easy it is to open an account. Safety is also highly important, but since we recommend only safe brokers, you do not have to worry about it.

Step 2: open your brokerage account

After finding your online broker, you need to open an account. This is much like a regular bank account and opening one is usually a fully online process. At some brokers it’s as quick as opening a new Gmail account, at some brokers it takes a couple of days until they do some background check on you. Instead of storing money on it you will store your shares on this though, so you definitely need this to buy GameStop shares and to store them.

Step 3: deposit money to your account

You will pay cash to buy those GameStop stocks. This cash first needs to be sent (deposited) to your broker. This is usually super easy and quick, actually even easier than opening your brokerage account.
The most common way you can deposit your money is bank transfer and using credit/debit card. At some brokers, you can deposit to your investment account even from different electronic wallets like Paypal, e.g. at eToro.

Step 4: buy the GameStop share

You have the account, the cash, and the share target. The last step is to press the buy button! You log in to your online brokerage, search for GameStop share, insert the number of shares you wish to buy, and click buy, which will initiate the purchase of shares (in trading lingo: execute the buy order).

A couple of hints around this: when placing an order, you can choose from different order types. The market order buys at the actual market price, while the limit order allows you to specify the exact price at which you want to buy the share.

Step 5: review your GameStop position regularly

You are not finished after you purchased your GameStop stock. Now it is key to monitor your investments. This basically means following your investment strategy. If you bought the GameStop share for holding it for a longer term, you might participate in the annual meeting and collect all the news and information about the company.

If you plan to sell it shortly after you see some increase in the price, you might use different position management tools. E.g. you can set the target price at which you want to sell the share with a profit, or use the stop-loss to set a price at which you want to sell the share to avoid further losses.

Now that you have mastered the 5 steps of buying shares, take a moment to look at the top 5 brokers we have selected for you.