How to Buy GameStop Stock in the UK

GameStop remains to be one of the most interesting financial stories in recent times. After a group of Redditors decided to invest heavily in the company in 2021, shares soared up to 1,600%, before settling back down.

This event proved to be a major upset for Wall Street, with many calling it a David and Goliath story. For the first time, everyday people were able to band together and take on the establishment, with huge financial implications. Before the Redditor surge, GameStop Stock remained undervalued.

GameStop is an American video game and entertainment software retailer, with more than 4,000 stores across the United States, Canada, Australia, and Europe.

The company offers a variety of gaming devices and games for purchase or rent from its retail locations and online store. GameStop also operates Game Informer, a popular video game magazine.

The GameStop Stock is an excellent example of a “meme stock,” or a stock that has been bought primarily because of social media hype. These types of stocks are often volatile and can rise and fall very quickly. For this reason, they can be risky investments, but also offer the potential for high rewards.

If you want to get in on the action and buy GameStop Stock in the UK, this post will tell you everything you need to know.

Ways to Invest in GameStop Stock in the UK

Because Gamestop Stock is a US company, there is only one way to buy it directly in the UK. You will need to open a US-based brokerage account, which can be done easily with an online broker. A broker is a platform where you can buy and sell shares in companies.

There are a number of online brokers that offer GameStop Stock, including eToro, IG Markets, and Hargreaves Lansdown. All these platforms allow you to buy and sell US stocks, as well as other international markets.

To get started, you’ll need to set up an account with a broker and deposit some money. Once you’ve done that, you can start buying and selling shares.

Another way to invest in GameStop is through a contract for difference (CFD) broker. With this method, you don’t actually own the underlying asset (in this case, Gamestop shares). Instead, you’re speculating on the price movement. This can be done with platforms such as Plus500.

The main difference between investing in GameStop directly and through a CFD is that with the latter, you don’t need to worry about factors like custody fees and share certificates. This can make it more affordable for some investors.

However, it’s important to remember that with a CFD, you could lose your entire investment if the market moves against you. Investing in GameStop directly may be riskier in the short term, but it could also offer more rewards if the stock price continues to rise.

Why Invest in GameStop Stock in the UK?

As a UK resident, you may be wondering if it’s even worth it to invest in GameStop stock. After all, the company is based in the US, so what difference does it make to you?

Well, there are a few reasons it could be beneficial for you to invest in GameStop stock as a UK resident:

1. Quick Profit

As we saw from the Redditors’ surge, it is possible to make a quick profit from investing in GameStop stock. Of course, there’s no guarantee that the share price will continue to rise, but it’s certainly something to consider if you’re looking to make some quick money.

2. Diversifying Your Portfolio

Another reason to invest in GameStop stock is to diversify your portfolio. By investing in a company that is based in a different country, you are spreading your risk and giving yourself the potential to make more money if the US stock market outperforms the UK stock market.

3. Ryan Cohen

Ryan Cohen is one of the major reasons GameStop stock is worth considering. He is the largest shareholder of GameStop with 11.9% and is also the chairman of the board. 

Cohen is the co-founder of Chewy, an online pet retailer that was sold to Petsmart for $3.35 billion in 2017. He’s widely regarded as a visionary in the e-commerce space, and his involvement with GameStop has led many to believe that the company has a bright future ahead.

4. Business Expansion

GameStop Corp is widening its horizons after years of losses. Early this 2022, the company launched a crypto a wallet that is expected to revolutionise the gaming industry. Additionally, In July, GameStop launched its own NFT Marketplace, which will open the door to more blockchain and NFT-related projects.

5. Gaming Industry Growth

The gaming industry is growing at a rapid pace, with more and more people of all ages playing video games. The recent launches of new gaming consoles like the PlayStation 5, Xbox Series X, and even the Steam Deck, have only served to increase interest in the industry.

This only means that there is potential for GameStop’s stock to grow in value as the company benefits from this trend.

6. The Story

Lastly, the story behind GameStop’s recent surge has captured the imaginations of many people around the world. It’s a classic underdog story, and who doesn’t love a good underdog story?

Whether you’re looking to make a quick profit, diversify your portfolio, or simply be a part of an amazing story, investing in GameStop stock could be the right move for you.

Payment Methods For Investing in GameStop Stock in the UK

To buy GameStop Stock, you will need to use a broker that supports US stocks. This is because GameStop is listed on the New York Stock Exchange (NYSE). 

Once you have set up an account with a broker, you will need to deposit money into it. Here are the different payment methods to consider:

1. Bank transfer: This is the most common method of depositing money into brokerages. You will need to set up a US-based bank account and then use this account to transfer funds to your brokerage.
2. Credit/debit card: Some brokerages will allow you to deposit funds using your credit or debit card. This is another popular method because it is quick and easy. However, you may be charged a foreign transaction fee by your bank.
3. PayPal: You can also use PayPal to deposit money into your brokerage account. This is a convenient option if you already have a PayPal account set up. But do take note that there may be fees associated with this method.
4. Wire transfer: This is a more direct way of transferring funds and is often used for larger sums of money. However, it can be more expensive than other methods.

How to Invest in GameStop Stock – Step by Step

Investing in GameStop Stock in the UK is not overly complicated. Follow this step-by-step guide:

Step 1: Find a Suitable Broker

The first thing you need to do is find a broker that will allow you to buy GameStop Stock. While the company is listed on the NYSE, not all brokers will offer this stock.

We recommend using eToro, as they are one of the few brokers that do offer GameStop. They also have very low fees and are very user-friendly—perfect for those who are new to investing. 

Other brokers that offer access to US stocks include Hargreaves Lansdown and IG Markets.

Step 2: Create an Account

Once you have found a broker, you will need to open an account. Most brokers will ask for your name, email address, and phone number. You will also be asked to choose a username and password.

Some brokers will also ask for additional information, such as your address and date of birth. After providing all the required information, you will need to verify your account. This could involve uploading a copy of your ID, such as a passport or driving licence. 

Step 3: Deposit Funds into Your Account

Once your account is verified, you will need to deposit funds into it. This can be done via bank transfer or debit/credit card. The amount you need to deposit will depend on the broker you are using and the size of the trade you want to place.

Step 4: Place Your Trade

After depositing funds into your account, you are ready to place your trade. To do this, you will need to search for “GameStop” in the broker’s search bar. This should bring up the stock, which you can then click on to access the trading page.

On the trading page, enter the amount you want to invest, as well as your stop-loss and take-profit levels. A stop-loss is used to limit your losses in case the stock price falls, while a take-profit is used to lock in profits if the stock price rises.

Once you have entered all the relevant information, you can click on “buy” to place your trade.

Step 5: Monitor Your Trade

All you need to do next is monitor your trade. You can do this by logging into your account and checking the “open trades” page. Here you will be able to see how your trade is performing and make any necessary changes.

It is also a good idea to set up price alerts, so you are notified if the stock reaches a certain level. This way, you can stay up-to-date with the latest developments without needing to constantly check your account.

Where to Buy GameStop Stock in the UK

eToro

eToro is a multi-asset investment platform with over 12 million users worldwide. The company offers a wide variety of assets, including stocks, crypto, ETFs, and more. 

The platform has been around for over a decade and is regulated by the Financial Conduct Authority (FCA). This means that your money is safe and you’re protected by the UK’s financial laws. eToro is also a publicly traded company, listed on the London Stock Exchange. 

eToro has become a popular trading broker in the UK because it’s easy to use. The platform has a sleek design and offers social trading features, such as allowing you to copy the portfolios of other successful investors. On eToro, you can also buy GameStop Stock without commission. Read the eToro review. 

Key Features:

1. Multi-asset trading: eToro is a one-stop shop for stocks, crypto, ETFs, and more, making it an ideal platform for investors who have a diverse portfolio of assets.
2. Copy trading: With eToro’s CopyTrader feature, you can view and follow the portfolios of other successful investors. This is an ideal way to get started with investing, as you can mimic the strategies of experienced traders.
3. User-friendly interface: eToro’s platform is designed for simplicity and easy navigation. This makes it an ideal choice for first-time investors who want to get started with trading without a complex platform.
4. No commission trading: When you buy GameStop Stock on eToro, you won’t pay any commission fees. This is because eToro only charges a small spread on each trade.
5. CFD trading: eToro allows for CFD trading, which means you can trade on the price movement of an asset without actually owning the underlying asset. This is a risky way to trade, but it can offer high returns if done correctly.

Fees:

• Trading fee: 0% commission
• Withdrawal fee: £4

Inactivity fee: £7.60 per month (after a year)

IG Markets

IG Markets is another popular online broker in the UK, allowing you to trade a variety of assets, including stocks, forex, indices, commodities, and more. 

IG Markets was first established in 1974 and is headquartered in London. With over 17,000 investment markets and a market value of £2.9 billion, IG Markets is a large and reputable company. Just like eToro, IG Markets is regulated by the Financial Conduct Authority (FCA) and offers commission-free trades on US stocks.  Read the IG vs OANDA compare review.

Key Features:

1. Trusted platform: IG Markets is a trusted and well-regulated online broker. The company is listed on the London Stock Exchange and is a member of the FTSE 250.
2. Negative balance protection: IG Markets offers negative balance protection, meaning you will never owe more than your account value.
3. Variety of markets: aside from stocks, the company offers contracts for difference (CFDs), spread betting, stockbroking, and forex trading.
4. Educational resources: IG Markets offers a variety of educational resources to help you trade successfully, including articles, webinars, and even podcasts. You can also download the IG Academy mobile app.

Fees:

• Trading fee: 0% commission (US stocks)
• Withdrawal fee: mostly free; £15 for same day bank transfers less than £100
• Inactivity fee: £12 after two years or more (for CFD and spread betting)

Fineco Bank

Fineco Bank is an Italy-based investment bank and stockbroker that has pulled in a considerable number of investors from the UK in recent years. This is because The company offers access to a whole host of markets, including the US stock market.

Fineco Bank was established in 1999 and has since then provided innovative products to its clients. The company is now one of the largest banks in Italy with over a million customers. You can buy and sell shares through the Fineco app or website with ease.

Key Features:

1. Multiple markets: Fineco Bank provides access to a number of stock exchanges in the US and Europe.
2. Multi-currency trading: The company allows you to hold different currencies in your account, so you can buy stocks without worrying about the exchange rate.
3. Mobile Platform: Fineco Bank offers an excellent mobile platform for convenient trading.

Fees:

• Trading fee: $3.95 on US shares
• Withdrawal fee: mostly free for non-instant local bank transfers; fees apply for international and instant local transfers
• Inactivity fee: None

Hargreaves Lansdown

Hargreaves Lansdown is the largest investment platform in the UK. It offers a wide range of products and services, including stocks and shares ISAs, self-invested personal pensions, and general investment accounts. 

The company has been around for over 40 years and has over 1.7 million customers. They are also regulated by the Financial Conduct Authority (FCA). 

Aside from its long track record, Hargreaves Lansdown has received multiple awards over the years, including Best Stocks and Shares ISA Provider and Best Investment Platform.

Key Features:

1. User-friendly features: the interface and trading platforms are well-designed and great for beginners.
2. Well-established brand: Hargreaves Lansdown is a trusted name in the industry, having been around for 40 years and having received several accolades since. 
3. Educational and customer support: Aside from the extensive library of resources available on the platform, Hargreaves Lansdown also provides multiple hotlines and email support.
4. Mobile app: The HL App is available for both iOS and Android devices, making it convenient to trade on the go.

Fees:

• Trading fee: £11.95 per trade on US shares
• Withdrawal fee: None
• Inactivity fee: None

Plus500

Plus500 is one of the most popular CFD brokers in the UK, but it also offers share dealing, futures trading, and options on futures.  and is regulated by the Financial Conduct Authority (FCA).  

Plus500 launched in 2008 and has since become one of the go-to platforms for online trading. Aside from the UK, the company has subsidiaries in the US, Australia, Israel, Japan, Cyprus, and more. Plus500 boasts of a simple to use interface, making it a great choice for those who are new to trading. 

Key Features:

1. Negative balance protection: Plus500 will automatically close your position if your account balance falls below zero.
2. Simple interface: The Plus500 platform is designed for ease of use and is great for those who are new to trading.
3. Cash rebates: When you actively trade with Plus500, you can receive cash rebates that can be used to reduce your trading costs.
4. Stop loss orders: With Plus500, you can set stop loss orders, which will automatically close your position if the price falls to a certain level.

Fees:

• Trading fee: £11.95 per trade on US shares
• Withdrawal fee: Mostly free; fees would vary depending on bank
• Inactivity fee: Up to £9 (after three months)

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