How to buy Shopify (SHOP) stock

Use our step-by-step guide to learn how to buy SHOP stock and compare the best Shopify trading platforms.
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Updated: Feb 21, 2023
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A big part of learning how to buy Shopify stocks is finding the best place to make your investment. Shopify stocks are available to invest in through an online stock broker, and it usually takes just a few minutes to buy shares in Shopify when following our step by step guide.

Where to buy Shopify stock?

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The best stock trading platform to use to buy Shopify stock is Plus500 .

Based on our research, we’ve ranked the top three brokers where you can buy Shopify shares, according to how easy they are to use, how low their fees are, their safety and security rating, and average customer reviews.

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1
Min. Deposit
$ 100
Best offer
User Score
9.9
Trade +2000 CFDs on Shares, Options, Commodities & more
Unlimited risk-free Demo Account
0 commissions & attractive spreads with up to 1:5 leverage
Start Trading
Payment Methods:
Bank Transfer, Debit Card, PayPal, Credit Card, Visa, Mastercard, American Express, Trustly, Apple Pay, Google Pay, Discover, Bank Transfer: SEPA, Bank Transfer: FPS, skrill
Full Regulations:
ASIC, FCA, FSA, MAS, CySEC #250/14

Buy or sell stock CFDs with Plus500. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2
Min. Deposit
$ 100
Best offer
User Score
9.9
Up to $240 bonus!
Deposit with ACA, Wire, Pay with my bank
Invest for dividends and get payout on stocks on Ex-Dividend day
Start Trading
Payment Methods:
Bank Transfer, Debit Card, PayPal, Credit Card, Wire Transfer
Full Regulations:
CySEC, FCA

eToro offers real assets only, no CFD products. eToro securities trading offered by eToro USA Securities, Inc. (‘the BD”), member of FINRA and SIPC. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the BD.

Read more about how we test, rank & review platforms.

How to buy stock in Shopify in 3 simple steps

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Buying Shopify stock is quick and easy, all you need is an internet connection and a copy of your photo ID. Here’s how to do it.

Step 1. Sign up to Plus500

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Plus500 is the best stock trading platform for beginners. Fill in your details to set up a brokerage account and attach a copy of your ID to verify it.

1
Min. Deposit
$ 100
Best offer
User Score
9.9
Trade +2000 CFDs on Shares, Options, Commodities & more
Unlimited risk-free Demo Account
0 commissions & attractive spreads with up to 1:5 leverage
Start Trading
Payment Methods:
Bank Transfer, Debit Card, PayPal, Credit Card, Visa, Mastercard, American Express, Trustly, Apple Pay, Google Pay, Discover, Bank Transfer: SEPA, Bank Transfer: FPS, skrill
Full Regulations:
ASIC, FCA, FSA, MAS, CySEC #250/14

Buy or sell stock CFDs with Plus500. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Step 2. Make a deposit

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Transfer money to your new account with your credit or debit card, a bank transfer, or an alternative payment method, like PayPal. The minimum deposit is £10.

Step 3. Buy Shopify shares

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Search for Shopify using the ticker, SHOP. Click the ‘trade’ button and enter the details of your investment, such as how many shares you want to buy or how much you want to spend. Hit ‘trade now’ to invest in Shopify and complete your purchase.

It’s as easy as that! You can buy Shopify shares in just 10-15 minutes and now you’re a Shopify shareholder.

Compare the best platforms to buy Shopify stock

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1. Plus500. Best for international CFD trading*

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From 0.08%

Fees

$100

Minimum deposit

3,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Free demo account for every user Secure broker, licensed by top-tier regulators Wide variety of CFDs to trade Several good risk management tools
No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you make a trade. Its technology driven platform gives access to CFDs on over 2000 stocks.

Plus500 has something for all types of stock trader, no matter what level of experience. Its zero commission and tight spreads make it a top choice for day traders and its trading academy is packed with educational content, perfect for beginners just starting.

For accurate instrument availability, visit plus500.com.

The fees: There are no commission fees on any trades with Plus500 and it makes it money through the Bid/Ask spread. Spread starts from 0.01% and varies depending on the instrument. Additional fees include overnight funding depending on trade size and guaranteed stop orders, which add a minimum of 10% to the spread. There is an inactivity charge of £10 per month for accounts not logged in for three months. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Highlights

Visit Plus500 Plus500 Review

Buy or sell stock CFDs with Plus500. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2. eToro. Best for beginners, copy-trading & demo-account

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0% commission

Fees

$100

Minimum deposit

4,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Great for beginners, simple to set up and get started Competitive, industry-leading commissions Popular ‘Copy Portfolios’ function lets you follow top traders Excellent customer service, with live chat support provided
Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

We love eToro because you can trade more than 3,000 stocks, commission free. When you buy stocks on eToro, you’re buying the underlying asset, which means you can earn dividends. Or you can trade fractional shares, which means you can invest in even the most expensive stock from just $10.

As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see what’s trending on the stock market every day, browse the latest analyst opinion about every one of those stocks, and copy other people’s trade suggestions from your desktop or the eToro app.

The fees: Stock and ETF trades are commission free. Stock CFDs are charged a 0.15% spread and overnight fees can apply. You can deposit money for free but you have to pay $5 per withdrawal, and there’s a minimum withdrawal of $30. A $10 per month activity fee is charged if you don’t log in for a year.

Highlights

Visit eToro eToro Review

eToro offers real assets only, no CFD products. eToro securities trading offered by eToro USA Securities, Inc. (‘the BD”), member of FINRA and SIPC. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the BD.

Fundamental analysis of Shopify shares

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What is Shopify’s total worth?

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Shopify’s total net worth is $55.67 billion. This is its total market capitalisation, calculated by multiplying the number of shares outstanding on a stock exchange by the current share price.

How has Shopify’s share price performed in recent years?

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The current Shopify stock price today is $43.61, which is 75.52% below its all time high of $176.29, which it reached on 15 November, 2021. 

Overall, SHOP is up 199.85% over the last five years. The SHOP share price is up 22.10% in 2024 with a 52 week high of $78.00 and a 52 week low of 23.63. 

What is Shopify’s EPS?

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Shopify’s EPS is $0.13]. EPS stands for earnings per share and is calculated by dividing Shopify’s net profit by the number of shares outstanding. It gives you an idea of how valuable a company is.

What is the Shopify P/E ratio?

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Shopify’s P/E ratio is 335.46. The P/E, or price to earnings ratio, tells you how much you would have to pay per share for $1 of Shopify’s earnings. 

It is calculated by dividing the share price by the earnings per share. You can use Shopify’s earnings estimates to predict its future (or forward) P/E and set a target price you think the stock can reach.

What is Shopify’s dividend yield?

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Shopify’s dividend yield is 0%. The dividend yield tells you how much of Shopify’s share price it gives back to shareholders in dividend payments every year. SHOP does not pay a dividend.

Is Shopify stock a buy or sell?

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The indicator below shows you live technical ratings for Shopify stock on time frames from one minute to one month. 

It tracks a selection of key technical indicators on live market data, including moving averages, relative strength index (RSI), oscillators, and momentum.

This indicator should be used when you research Shopify to help you decide whether to buy Shopify shares. Past performance is no guarantee of future results. It is not investment advice or a recommendation from Invezz to buy this stock.

Is Shopify a good investment for me? 

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The right answer is different for each person, so here is some information to help you decide whether to buy stocks in Shopify.

  • Shopify lets anyone run an online business. Shopify is an e-commerce platform where independent businesses can host their own websites. It’s one of the biggest success stories of the past decade thanks to a simple service that offers the infrastructure, analytics and payment processing small business owners need to run an online shop.
  • It is larger than eBay. Shopify’s success has already taken it past eBay in terms of spending volume and market cap. It’s now the most obvious alternative to Amazon in a market where ‘click-based shopping’ is expected to be worth a quarter of all US commerce by 2030.
  • Shopify has signed deals with many leading brands. It has signed a deal with TikTok so people could ‘shop as they scroll’, and even teamed up with brands like PepsiCo and Heinz, as well as celebrities like Kylie Jenner and Kanye West, to sell through Shopify.
  • Its stock price has fallen in recent years. Its share price was on a tear even before the pandemic, and across 2019 and 2020, it was up over 600%. However, its surge was short-lived and 2021 – 2022 saw its price drop back to pre-pandemic levels.
  • It has work to do to keep investors happy. A lot of Shopify’s business is excellent, but tech companies with high valuations rely on continuing to post higher revenue numbers to keep investors happy.

It’s always a good idea to think about any potential risks there might be as well. Use this summary of Shopify’s pros and cons before you make a final decision on whether to buy Shopify stock.

Pros

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  • It is larger than eBay in terms of market capitalisation
  • Shopify has teamed up with several leading brands and celebrities
  • Its stock price has rallied in the past few years

Cons

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Are there other ways to buy shares in Shopify?

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Yes, you can invest in Shopify stock in a few different ways. One option is to buy stock in Shopify directly through an investment platform as laid out above, while another popular choice is to invest in a fund. 

Mutual funds provide instant diversification to your investment portfolio by investing in lots of companies at once. You can invest in a Nyse index fund to get exposure to Shopify, or choose a technology ETF.

Another option is to use a social copy trading platform, like Plus500 . Find a trader who you like and copy their Shopify trades directly to your own account. 

This can be a good investment strategy for beginners and a way to learn how to buy Shopify shares from someone with more experience.

What are the fees for investing in Shopify stock?

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It depends on the stock broker. Some platforms charge a flat fee per trade, others charge a commission as a percentage of the total trade value each time you buy Shopify stocks.

Consider that there may be other costs to trading too. Other fees can include deposit and withdrawal fees, or inactivity fees if you don’t use your account for three months or more. 

These are the trading platforms that charge the lowest fees for buying stocks in Shopify.

Trading platformTrading fees
eToro $0
Skilling $0
Capital.com $0
Degiro $0 (US) / £1.75 (UK)
AvaTrade 0.13% commission

How to sell Shopify stock

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When you decide the time is right to sell and lock in some profit (or cut your losses), log into your broker account and navigate to your portfolio. 

From there, find your Shopify stock and you’ll see a ‘sell’ option next to it. Click that to set the details of the trade (you don’t have to sell all your stocks at once) and sell back to cash.

Should I buy Shopify stock now?

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It’s your investing goals and style that define whether now is a good time to buy. The current Shopify stock price plays into it but ultimately it depends on your investment horizons.

  • If you’re a short term trader: the goal is to make money by buying and selling stocks regularly to secure a profit or avoid a loss. That can mean trading hourly, daily, or weekly but the focus is always on the near future. Traders learn how to buy stocks in Shopify based on short term technical analysis and don’t hold shares for a long time, so any time can be a good time to buy SHOP.
  • If you’re a long term investor: you’re more interested in long term price appreciation than whether a stock is up or down on any given day. The important thing is finding a stock with a strong foundation where you think the share price will be up over a period of months or years. If you think Shopify’s fundamentals are solid then the best time to invest in Shopify stock is after a dip or a pullback in price.

Most new traders sit somewhere between these two positions. You don’t want to actively trade Shopify stock all hours of the day but you don’t want to wait years for a return either.

Either way, following SHOP price news and analysis will help you decide when to dip your toe into the market.

Latest Shopify news

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Shopify stock price forecast: Morgan Stanley sees a 20% upside
Shopify Inc (NYSE: SHOP) is in the green at writing after a Morgan Stanley analyst issued a bullish note in its favour. Shopify stock could climb to $85 Keith Weiss upgraded the eCommerce giant this morning to “overweight” and raised his price target to $85 which suggests another 20% upside from her
Shopify Q4 earnings tops Street estimates
Shopify Inc (NYSE: SHOP) is trading down in premarket on Tuesday even though it reported market-beating revenue for its fourth financial quarter. Shopify’s guidance for Q1 Investors are cheering also because the management issued upbeat guidance for the future. Shopify now forecasts its revenu
Analysts are pessimistic on Shopify stock price: what now?
Shopify (NYSE: SHOP) stock price is up for the third straight month as the company switches its strategy from growth to profitability. After dropping sharply in 2022, the stock has staged a strong recovery, rising by over 230% to the current $80.10. This rebound has boosted its valuation, which stan
Shopify stock price is severely overvalued: Is it a safe buy?
Shopify (NYSE: SHOP) stock price made a bullish breakout this week and surged to the highest level since April last year. The shares have surged by more than 97% this year and by 118% in the past 12 months. In all, the stock has soared by over 190% from the lowest level in 2022, making […]
Roku just announced a partnership with Shopify: find out more
Shares of Roku Inc (NASDAQ: ROKU) opened about 5.0% up today after the streaming-media company announced a new partnership with Shopify Inc (NYSE: SHOP). Here’s what we know so far Viewers will now be able to conveniently shop at the online store right from their television sets. They’d be able to p
Cramer is ‘incredibly bullish’ on Shopify stock price after Q1 earnings
Shares of Shopify Inc (NYSE: SHOP) are up 25% on Thursday after the eCommerce company reported a surprise profit for its first financial quarter. Shopify stock up on the sale of logistics unit The tech stock is being rewarded today also because the multinational revealed plans of selling its logisti
Register now and buy Shopify stock

FAQs

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Is Shopify stock overvalued?
Do I have to pay capital gains tax on any profits I make?
What is Shopify’s ticker symbol?
Does Shopify pay dividends?
Is Shopify ESG friendly?


Sources & references
Risk disclaimer
James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.