Unless you’ve been living under a rock for the past 5 years, you would’ve almost certainly heard of EV giant, Tesla. Over the past few years, it went from being relatively unheard of to a household name. How have they achieved growth this quickly? Well, it comes down to two things, innovation, and the company’s enigmatic CEO Elon Musk

With the price of Tesla stock rising from around $35 in 2016 to almost $1000 in 2021, it’s no sup[rise that investors all over the world have one question on their mind “how can I buy Tesla stock?”. We’ll be providing you with the answer to this question as well as a brief overview of the top brokers you can use to buy Tesla stock right now. 

What is Tesla?

Tesla is an automotive company with a distinct focus on creating high-performance electric vehicles. Over the past few years, the company’s vehicles have improved massively and become much more consumer-friendly, helping Tesla to claim the top spot as the largest automotive company in the world. Tesla’s primary offering is its range of electric vehicles, however, they have also dipped their toes into a range of emerging markets including green energy and AI. 

Best Exchanges to Buy Tesla Stock – Top 3 Tesla Brokers

While selecting a broker may seem like one of the easiest steps of buying Tesla stock, in reality, it’s one of the most difficult to get right. You need to take the time to ensure you’re using a secure, convenient, and powerful broker. If you overlook this step, don’t be surprised if you end up locked into a relationship with a subpar broker. However, to ensure this doesn’t happen to any Economy Universe readers, we’ve provided you with a list of the top three brokers to buy Tesla stock. 

1. Fidelity – Most versatile Broker to Buy Tesla Stock 

Fidelity is by a wide margin the largest broker on our list. They were founded back in the 40s and have managed to accumulate an impressive 37+ million users over their 50+ period of operation. 

Security

Security is almost one of the most important aspects of any broker. Without solid security measures, the chances are clients will eventually be left out of pocket. To prevent this from happening, Fidelity followers regulations outlined by the SEC surrounding the protection of customers and their funds. Additionally, they offer a voice biometric verification system to help prevent client accounts from being compromised. 

Features

Fidelity is perhaps the most comprehensive platform we’ll be taking a look at today. They support trading in a wide range of markets, including, stocks, ETFs, forex, and cryptocurrency, making it a great platform for anyone with a diverse portfolio. Another big plus to Fidelity is their charting and analysis, most platforms could take a leaf out of Fidelity’s book in this regard. On top of this, Fidelity has a dedicated team of analysts, providing users with top-quality market research. 

2. TD Ameritrade – Most Traditional Broker to Buy Tesla Stock 

The second oldest broker on our list, TD Ameritrade was founded in the 1970s and has managed to amass an impressive 11 million users. They are one of the best-known brokers in the US and much like Fidelity support trade in a wide range of markets. 

Security

It’s clear from the get-go that TD Ameritrade takes security seriously. They’re a regulated platform meaning that there’s no need to worry about them up and vanishing when you try to buy Tesla stock. One way they protect users is by obscuring sensitive data using SSL encryption. This renders client data unusable to any nefarious individuals attempting to take advantage of the data supply line. 

Features

In terms of features, TD Ameritrade is certainly a contender for the top spot. They boast many of the same trading/charting features Fidelity offers, however, they do differ in a few ways. Firstly, TD Ameritrade offers 24/7 customer support, along with 24/5 technical support, ensuring you can always get a prompt answer to any query you might have. Along with this, they also offer automatic dividend reinvestment, meaning you can instantly invest any dividends you receive, helping you compound your earnings. 

3. eToro – Simplest Broker to Buy Tesla Stock

Since their launch in 2007, eToro has managed to earn themselves 20+ million active users, making them the second-largest platform we’ve discussed. While eToro supports a range of markets and has a good deal of “advanced” features, the two platforms we discussed previously take the cake in terms of overall functionality. 

Security

As we’ve mentioned, security is a key aspect of any reputable broker. As such, you’ll be happy to hear that eToro adheres to the same regulations as Fidelity and TD Ameritrade, however, they have a few other tricks up their sleeve. User data is protected with SSL encryption, making it unusable to anyone other than eToro. Additionally, every user has the ability to enable 2FA, making your account far more secure. 

Features

If you’re looking for a broker that makes buying Tesla stock easy, then you’ll love eToro. From the get-go, you’re able to see how easy this trading platform is to navigate, with nothing hidden behind hard-to-spot menus. If you’re a beginner, you might be able to benefit from eToro’s educational platform, eToro Academy. This academy covers all the basics of trading, as well as a few more advanced topics, helping new traders get things started on the right foot. Additionally, eToro supports a range of markets and order types, something that most other “beginner brokers” are lacking. 

How to Buy Tesla Stock – How to Invest in Tesla Step by Step Guide

Learning how to use a brand new exchange can be a confusing and time-consuming task. So to ensure it goes smoothly, we’ll be running you through the entire process of how to buy Tesla stock. 

Register with an Exchange

The first thing you’ll need to do when buying Tesla stock is register with a trusted brokerage. Any of the ones on our list should be perfectly fine. Just navigate over to their website, press “Join Now” and fill in your details. 

Verify Details

Most trustworthy platforms will be regulated. While this offers increased protection for customers, it also means you’ll need to verify your identity before you can trade. To get verified, you’ll need a photo ID (passport, driving license) and proof of address (bank statement, utility bill). 

Fund Account

Once you’ve verified your account, you’re only one step away from buying Tesla stock. However, before that, you’ll need to fund your account. Most brokers support deposits using either a credit/debit card, bank transfer, or e-wallet (PayPal, Skrill). 

Buy Tesla stock! 

Now that your account has been funded, it’s time to buy Tesla stock! Just type “TSLA” into your broker’s search bar, select the relevant asset, enter the number of shares you want to buy, and confirm the trade. 

Conclusion

The eclectic vehicle sector is massive and growing rapidly. Tesla is at the forefront of the EV sector and has grown massively (30x) over the past 5 years, cementing its position as the number one automotive company by market cap. This has resulted in many investors wanting to get in the action before prices continue to rise as more and more motorists make the switch to electric. If you want to get a piece of the pie, you’ll need to equip yourself with a quality broker, any of the ones we recommended should serve you fine, however, Fidelity will stand above the rest for the typical investor. 

 

FAQS

Are Stocks Safe?

For the most part, stocks are perfectly safe. It’s unregulated brokerages that hold the risk. To avoid this, we recommend using a broker we’ve advised. 

What is the Future of Tesla?

Tesla has managed to become the largest EV manufacturer in the world. With the rate at which the sector is growing, this position could be extremely lucrative for Tesla. 

What is the Best Tesla Broker?

While all of the brokers we’ve discussed are excellent, it seems as though Fidelity will be best for the majority of investors. 

By Jay

Jay is a cryptocurrency expert based in the UK. He's invested in a wide range of projects, ranging from small-cap tokens to large-cap tokens like BTC and ETH. Outside of cryptocurrency he has an unyielding interest in everything related to the stock market. Currently, Jay has been focusing on the macroscale and institutional adoption.

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