GameStop shares have seen a tremendous growth in share price in last few months due to a phenomenon called “Short Squeeze”. Naturally, a lot of investors are trying to find how they can invest in GME. This stock is traded on NYSE, so if you are from USA, you can buy it from any local brokerage institution. But, how can you buy GME stock if you are from India?
Well, in the last couple of years we have seen a growth in number of India based platforms which allow Indians to buy shares in stocks which are traded in foreign countries, notably USA. Here is a list of brokers which operate in India who enable investing in US markets.
- Vested
- Stockal
- IND Money
- Winvesta
- Upstox
- Interactive Brokers
The list above is indicative and not exhaustive. There maybe a few other providers, but these are the major ones.
In order to buy GME shares, you first of all need an account with any of these platforms. Opening an account can take anywhere between 2-5 days.
Once your account is opened, you need to fund your account. This trading account will be in dollars. Your bank account in India is most likely in rupees. So, you need to transfer money from your Rupee account to the Dollar account of trading platform. You will have to pay some transaction fees as well as foreign currency conversion fees. It may take upto 5 days for money to reach in your investment account. In my experience, it has reached in my investment platform within 2 days.
Once your money has reached in your investment account, you can buy GME shares.