Spotify has become a household name when it comes to music streaming services. With millions of users worldwide, the company has established itself as a leader in the industry, offering a vast library of songs and podcasts that can be accessed on various devices. As a result, many investors are interested in buying shares of Spotify, hoping to capitalise on the company’s success.
But how can you buy Spotify shares? In this guide, we’ll take you through the process step by step, from understanding the stock market to finding the right broker and making your purchase. We’ll also give you a brief history regarding the Spotify company, so you can decide whether Spotify buy is worth it in 2024.
Top 3 Brokers for Buying Spotify Shares
When it comes to buying shares of Spotify, you need a stock broker with access to the New York Stock Exchange (NYSE), where Spotify is listed under the symbol SPOT. However, if you’re in the UK, navigating through the plethora of brokers available can be a daunting task. That’s why we’ve done the research for you and compiled a list of the top three brokers for buying Spotify shares.
After conducting multiple tests and comparisons, the 3 brokers below have emerged as the cream of the crop, offering reliable services, competitive pricing, and user-friendly platforms. So, keep reading to compare the brokers’ features and discover the best that will maximise your experience and potential.
1. IG Markets
IG Markets is a highly reputable stock broker and one of the best choices for investing in the stocks of Spotify. With its comprehensive range of investment options, including additional shares, forex, commodities, cryptocurrencies, and more, IG Markets provides investors with flexibility in their trading strategies. Its user-friendly platform is designed to cater to both beginners and experienced traders, offering intuitive navigation and a suite of advanced tools.
To get started with IG Markets, a minimum deposit of £300 is required, which might seem high to low-budget traders. The broker also charges high fees, and you can only trade the stocks of SPOT as CFDs or indices. On the brighter side, you can rely on IG Markets when it comes to trade execution speed and advanced charting tools that allow for in-depth analysis and informed decision-making.
✔ Leading broker with low fees
- Wide range of investment options for portfolio diversification
- User-friendly platform with intuitive navigation.
- Efficient execution and advanced charting tools for market analysis
- Comprehensive educational resources and support for traders
- High minimum deposit requirement and spreads
- No buying and taking ownership of Spotify stocks
2. Hargreaves Lansdown
Hargreaves Lansdown is an excellent choice for investors looking to buy Spotify stocks, offering a wide range of investment options and a user-friendly platform. With Hargreaves Lansdown, investors can easily navigate the stock market and purchase Spotify shares. Moreover, the broker provides comprehensive research tools and educational resources, empowering investors to make informed decisions. Note that regular market updates and analyses keep investors up to date with the performance of their investments.
While Hargreaves Lansdown may have slightly higher fees compared to some other brokers, its extensive service and excellent customer support make it a top choice for investors seeking a reliable and comprehensive brokerage experience.
✔ Established market leader
- Extensive range of investment options, including Spotify stocks
- User-friendly platform with easy navigation
- Comprehensive research tools and educational resources
- Regular market updates and analysis
- Reliable customer support
- Slightly higher fees compared to some other brokers
- Its technical analysis and charting tools are not comprehensive to suit professional investors
3. eToro
eToro is an exceptional Spotify invest broker, thanks to its unique modern design and user-friendly platform. The broker allows investors to invest in Spotify stock through Contracts for Difference (CFDs) or by purchasing and taking full ownership of the actual shares. You can also invest in SPOT shares as indices, whereby multiple shares are combined in a single investment. All you need is an investment account and a minimum deposit of $100 per eToro’s requirements.
What sets eToro apart is its innovative CopyTrading feature, which enables users to automatically replicate the trades of successful investors. This can be particularly beneficial for beginners who want to learn from experienced traders. eToro also fosters a community-driven approach to investing, encouraging social interaction and learning from others. It only falls short when it comes to spreads, which are high and charges fees for withdrawals.
Disclaimer: eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. {etoroCFDrisk}% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Zero commission means that no broker fee will be charged when opening or closing the position and does not apply to short or leveraged positions. Other fees apply including FX fees on non-USD deposits and withdrawals. Your capital is at risk. For more information, click here.
✔Low minimum to fund an account and begin investing
- CopyTrading feature for automatic replication of successful trades
- User-friendly platform with a focus on social interaction and learning from others
- Access to both CFDs and actual shares of Spotify
- Withdrawal charges apply
- High spreads
How to Buy Spotify Shares With IG Markets
Having the best broker like the ones we recommend above is crucial in increasing your chances of earning profits investing in the stocks of Spotify. To help you get started on your investment journey, we have prepared a step-by-step guide on how to buy Spotify shares with IG Markets. Note that the procedures outlined here are applicable to all FCA-regulated brokers, but we will specifically use IG Markets to provide a clear understanding of the process.
The first step is to open an account with IG Markets. Therefore, visit its website, understand its terms and conditions, and click on the “Create live account” button. On the registration page, provide the required personal information, including your name, email, phone number, date of birth, and more. You should also create a username and password to add more security to your account.
After successfully opening an account with IG Markets, you may need to complete a margin trading test. This test ensures that you understand the risks associated with leveraged trading, such as trading on margin. It is designed to assess your knowledge and suitability for this type of trading, thus enabling the broker to select the best package for your skill level.
As a regulated broker, IG Markets requires you to verify your identity to comply with FCA regulatory requirements and maintain a secure trading environment. To verify your identity, you will need to provide valid identification documents such as a copy of your ID card, passport or driver’s license. You may also need to provide proof of address, such as a copy of a recent utility bill or bank statement. Follow the instructions provided by IG Markets to complete the identity verification process.
Before you can buy Spotify shares, you need to fund your IG Markets account. Remember, the broker’s minimum deposit requirement is £300, which you get to make using various deposit methods, including bank transfer, debit/credit card, and e-wallets. Choose the method that suits you best, enter the necessary details, and specify the amount you want to deposit. Review the transaction details and confirm the deposit. Once the funds are credited to your account, you’re ready to proceed to the next step.
With your IG Markets account funded, you can now invest in Spotify stock. Access the trading platform provided by IG Markets and search for the Spotify stock symbol “SPOT”. You will find relevant information such as the current price, market depth, and available order types. Choose the type of order you want to place, such as a market order or limit order, and specify the number of shares you wish to purchase. Review the order details, and when you’re ready, place your trade.
Remember, IG Markets allows you to trade in the shares of SPOT as derivatives only. This means that if you want to buy and take full ownership of the asset, consider brokers like eToro with access to the NYSE where the shares are listed. Regardless of the investment method you select, always stay informed about market trends and track your activities to ensure everything works out as expected.
Tips on How to Choose the Best Stock Broker to Buy Spotify Shares
As you set out to join the Spotify invest community, selecting the best stock broker becomes paramount. With a sea of brokers out there, finding the one that perfectly suits your needs can feel like searching for a needle in a haystack. But fret not! In this section, we’ll equip you with essential tips to help you navigate this daunting task.
Start by researching the reputation and regulatory status of potential stock brokers. Look for well-established brokers with a solid track record in the industry. Ensure they are regulated by reputable financial authorities, such as the UK’s Financial Conduct Authority (FCA). A regulated broker provides an added layer of security and ensures adherence to industry standards.
Evaluate the fee structure of each broker. Look beyond just the commission fees for buying and selling shares and consider other charges, such as account maintenance fees, minimum deposit requirements, inactivity fees, and withdrawal fees. Pay attention to the overall cost of trading, especially if you plan to make frequent trades or invest with a smaller budget. Opt for a broker that offers competitive and transparent pricing.
Assess the quality and functionality of the trading platform provided by each broker. A user-friendly and intuitive platform can enhance your trading experience. Look for features like real-time market data, customisable charts, order types, and mobile accessibility. A robust and reliable trading platform will enable you to execute trades efficiently and stay on top of market trends.
Education resources like tutorials, webinars, and online courses can help you improve your investment skills and knowledge. Look for brokers that provide educational resources that cater to your level of expertise and investment goals. Some brokers may offer live events, while others may provide on-demand resources. You should also consider the availability of a demo account for testing the broker and gauging your skill level before investing real money.
Choose a broker that provides reliable and responsive customer support. Look for brokers that offer multiple communication channels, such as phone, email, and live chat. Additionally, consider the broker’s customer support hours and response times. Good customer support can help you resolve issues and make informed decisions quickly.
Spotify Share Price Today
The UK stock market is known for its fluctuations, and the Spotify share price is no exception. The value of Spotify shares can change rapidly in response to various factors such as market trends, company performance, and industry news. As an investor, staying up-to-date with the latest share prices is crucial for making informed decisions.
To assist you in tracking the current value of Spotify shares, we have provided a live chart below. This chart displays the real-time SPOT share price, allowing you to monitor its fluctuations throughout the trading day. Additionally, the chart includes historical data, enabling you to analyse the stock’s performance over time. This way, you can gain insights that may aid in making more accurate predictions and potentially generate profitable investment strategies.
About Spotify Technology SA
Spotify Technology SA, commonly known as Spotify, is a leading digital music streaming platform that has revolutionised how people access and enjoy music. Founded in 2006 by Daniel Ek and Martin Lorentzon, Spotify offers a vast library of music from various genres and artists, accessible to users across the globe. With its user-friendly interface and personalised recommendations, Spotify has gained immense popularity, boasting millions of active users and a vast collection of songs.
One of Spotify’s key features is its freemium model, which allows users to access a limited version of the platform for free with occasional advertisements. Additionally, Spotify offers a premium subscription service that removes ads, provides offline listening, and offers enhanced features like high-quality audio streaming and exclusive content. The platform has also expanded its offerings beyond music, including podcasts and audio programs, catering to a wide range of entertainment preferences.
As a tech-driven company, Spotify has been at the forefront of innovation in the music streaming industry. It employs advanced algorithms and data analytics to curate personalised playlists and recommendations tailored to individual user preferences. Moreover, Spotify charts global has partnered with record labels, artists, and content creators to ensure a diverse and engaging music library for its users.
With its continuous growth and commitment to providing an exceptional music streaming experience, Spotify remains a dominant force in the digital entertainment landscape. Therefore, investing in the company may bring about good profits in the long run.
FAQs
No, Spotify does not currently pay dividends to its shareholders. The company has chosen to reinvest its earnings back into its operations and growth initiatives rather than distributing profits to shareholders in the form of dividends.
Spotify is listed on the NYSE under the stock symbol “SPOT.” When searching for Spotify’s stock on trading platforms or financial websites, you can use this symbol to locate the company’s stock and access information such as its current price, trading volume, and historical data.
Yes. Spotify can be considered a wealthy company in terms of its market capitalisation and overall valuation. As of the latest available information, Spotify’s market capitalisation exceeds 28 billion dollars, indicating its significant value as a publicly traded company.
Spotify is an independent company and is not owned by any entity in its entirety. However, the company has individual owners, including its founders, Daniel Ek and Martin Lorentzon. It also has institutional shareholders who hold ownership stakes in the company.
Conclusion
You are now equipped with the knowledge and steps to embark on your journey of buying Spotify shares. By choosing a reputable broker from our list above, conducting thorough research, and staying informed about market trends, you can make informed investment decisions.
As an investor, always assess your risk tolerance, set realistic expectations, and diversify your portfolio. Since the stock market is volatile, it carries risks of losing money. Therefore, we advise you to start investing with small amounts and be open to learning from the losses you might make along the way. With time, you will become independent and make more solid decisions that could bring about profits.
25,000 hours of testing 70+ brokers. Our recommended broker is Plus500.
Our recommended broker is Plus500.