Tesla is one of the most popular stocks in the United States. But, unfortunately, it’s also one of the most expensive stocks in the world and has been on a rollercoaster ride over its brief history as a public company.
If you’re interested in buying Tesla stock, you’ll need to follow a few steps:
- Open an account with an online broker that supports U.S.-based stocks.
- Fund your account with money from your bank or credit union.
- Search for Tesla stock on your broker’s website and place an order for shares via telephone or computer.
Step 1: Open an account with a broker that supports the trading of U.S. stocks
If you’re not already registered with a broker supporting U.S. stocks trading, you will need to do so. Many regular brokerage accounts are tied to Canadian stocks, but they can be converted into a Canadian-dollar fund if necessary.
That means that when you buy Tesla stock, it will take place over the internet in USD and go through an American exchange. After that is completed, it can be transferred back into whatever currency your brokerage account uses.
Step 2: Fund your account
To fund your account, you must verify your identity by providing information such as a driver’s license or passport. The bank will then process the funds and deposit them into your account.
If you already have an existing brokerage account that you want to use, log into your online brokerage dashboard and transfer funds from that account into Tesla stock.
Step 3: Search for Tesla (TSLA) and place your order
You are now ready to place a buy order. Back on the trading platform, search for Tesla and then place an order to buy 100 shares at $200 per share. Please get in touch with your broker’s customer service department if you have any questions about the process.
Step 4: Buy Tesla stock
Once you’ve verified your account, it’s time to place an order:
Click the “Ticker Symbol” drop-down menu in the upper right corner of the screen and select Tesla Motors Inc. (TSLA).
Enter the number of shares to buy, either using your keyboard or by clicking on one of the stock prices listed. To purchase 100 shares at $199/share, for example, type “100 TSLA 200.00” into the order form field.
Click “Buy Shares Now.” You’ll see a confirmation message confirming that you’ve purchased 100 shares at $200 each. The total cost will be displayed here, along with other details such as commission fees and taxes, so you can verify everything is correct before proceeding further (you don’t want to overpay!).
If everything looks good, click “Confirm My Order” – congratulations! You’ve just bought some Tesla stock!
A Few Necessary Tesla Stock Hurdles
Buying Tesla stock may be a bit more complicated than buying other stocks due to the limited availability of providers supporting U.S.-based online brokers. Still, it’s worth it if you have the right broker.
To buy Tesla stock, you need to have an account with a broker that supports U.S.-based online brokers. There are many different brokers out there, so it’s essential to compare the fees and commissions of each one before choosing one.
If you don’t have much money to invest, you may want to start with a small amount and build up your portfolio over time to make larger purchases when they become available again.
Buying Tesla stock is an exciting way to be part of the future and support Elon Musk’s dream of a sustainable planet. And if you follow these steps, you should be able to do so without too much trouble.