How To Buy GameStop Stock (GME) Using Interactive Brokers In 2023

GameStop (GME) became a household name in early 2021 when the company's stock price skyrocketed due to a wave of interest from retail investors.

If you're interested in buying GameStop stock using Interactive Brokers, you can follow these simple steps.

Step 1: Open an account with Interactive Brokers

The first step to buying GameStop stock using Interactive Brokers is to open an account with them.

You can do this by visiting their website and following the instructions.

Once your account is open, you'll need to fund it before you can start trading.

Step 2: Download and install the TWS software

To buy GameStop stock using Interactive Brokers, you'll need to use their trading platform called Trader Workstation (TWS).

To access TWS, you'll need to download and install the software onto your computer.

You can do this by accessing TWS downloads from the login menu on the Interactive Brokers website or by going to trading TWS software.

Step 3: Log in to TWS

Once you have installed TWS, double-click the TWS icon on your desktop to log in.

Enter your username and password, and select either live trading or paper trading from the trading mode drop-down.

Choose your preferred color palette for TWS classic, dark, or light, and click on the login button.

Step 4: Use the Mosaic workspace to buy GameStop stock

Once you have logged in, you can use the Mosaic workspace in TWS to buy GameStop stock.

Follow these steps to do so:

1. Click on the New Window button and select the Stocks tab.
2. Type "GME" (the stock symbol for GameStop) in the search bar, and select it from the dropdown menu.
3. Click on the Buy button to open the order entry window.
4. In the order entry window, select the account you want to use, enter the quantity of shares you want to buy, and select the order type (e.g., market, limit, stop).
5. Enter any additional parameters for your order, such as the duration and price limit.
6. Review your order details and click on the Submit button to place your order.

Step 5: Monitor your order status

After placing your order, you can monitor its status in the TWS Order Status panel.

If your order is filled, you will see the trade details in the TWS Trade Log.

Buying GameStop stock using Interactive Brokers is a simple process, but it's important to remember that investing always involves risk.

Before making any investment decisions, it's a good idea to do your research, set your investment goals, and create a plan that aligns with your financial situation and risk tolerance.

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