How to Buy Tesla Shares in the UK: A Step-by-Step Guide
Dom Farnell
Co-Founder
Dom, a Co-Founder at TIC, is an avid investor and experienced blogger who specialises in financial markets and wealth management. He strives to help people make smart investment decisions through clear and engaging content.
Twitter ProfileAuthor Bio
Fact Checked
How we test
At The Investors Centre, we pride ourselves on our rigorous fact-checking process. To delve deeper into our meticulous testing procedures and discover how we ensure accuracy and reliability, visit our dedicated page on how we test.
Risk Warning
Please bear in mind that trading involves the risk of capital loss. 51% to 84% of retail investor accounts lose money when trading CFDs with the providers below. You should consider whether you can afford to take the high risk of losing your money.
Last Updated 14/12/2024
Quick Answer: To Buy Tesla Shares, You’ll Need to…
Choose a UK-friendly broker like eToro or IG, create and verify your account, fund it via bank transfer or card, and place your order for Tesla shares. Finally, monitor your investment to track Tesla’s performance and manage your portfolio effectively.
Featured Broker
eToro
- Copy Trading
- Competetive Fee's
- Multi Asset Platforn
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Why Invest in Tesla Shares?
Tesla, led by visionary CEO Elon Musk, has revolutionized the electric vehicle (EV) market and reshaped the future of sustainable energy. As a leader in EV production, autonomous driving technology, and renewable energy solutions, Tesla is more than just a car manufacturer—it’s a global innovator.
When I first considered buying Tesla shares, I was drawn by its impressive growth trajectory. Tesla has consistently delivered groundbreaking technologies and expanded its market share, even in the face of global challenges. The company’s ability to scale production, innovate battery technology, and dominate EV markets made it a compelling investment choice.
For UK investors like myself, Tesla represents not only a growth stock but also a way to align investments with sustainable, green initiatives. Whether it’s their solar energy solutions or the expanding Supercharger network, Tesla offers long-term potential that’s hard to ignore. Investing in Tesla feels like supporting the future of clean energy.
Step 1: Choose a UK-Friendly Broker or Platform
What to Look For in a Broker
When choosing a broker to buy Tesla shares in the UK, there are three key factors to consider: fees, regulation, and usability. Look for a platform regulated by the FCA (Financial Conduct Authority), ensuring compliance with UK standards and protecting your investments.
Fees can have a significant impact, especially for long-term investors. Platforms like eToro offer commission-free trading, while others, like Hargreaves Lansdown, charge per trade. As someone starting with Tesla shares, I preferred lower fees to maximize returns.
Usability is another critical factor. Some platforms, like eToro, cater to beginners with user-friendly interfaces, while IG offers advanced tools for more experienced traders. Personally, I found eToro’s simplicity appealing as it made buying my first Tesla shares straightforward. Consider your level of experience and investment goals before selecting a broker.
Recommended Brokers for Tesla Shares in the UK
Several brokers in the UK make it easy to buy Tesla shares. Here’s a quick comparison:
| Broker | Trading Fee | Ease of Use | UK Regulated |
|---|---|---|---|
| eToro | Commission-free | High | Yes |
| IG | £3 per trade | High | Yes |
| Hargreaves Lansdown | £11.95 per trade | Medium | Yes |
I started with eToro due to its commission-free trading and simple interface. It allowed me to invest in Tesla without worrying about high upfront costs. However, for those seeking in-depth tools and analysis, IG might be a better option. Hargreaves Lansdown, while slightly pricier, is a trusted name with excellent customer support. Choose the broker that aligns with your needs and experience level.
Step 2: Set Up and Fund Your Account
Open and Verify Your Account
Creating an account with your chosen broker is a straightforward process. Start by visiting the broker’s website or app and selecting “Sign Up.” You’ll need to provide basic personal information, such as your name, address, and email, and choose a secure password.
Most brokers require you to complete KYC (Know Your Customer) verification. This involves submitting a valid government-issued ID (like a passport or driver’s license) and a proof of address (such as a utility bill). For me, this process took about 10 minutes on eToro.
To enhance security, enable two-factor authentication (2FA). I use an authentication app like Google Authenticator to secure my account further. These steps ensure that your account is ready for transactions and safe from unauthorized access.
Deposit Funds
After verifying your account, it’s time to deposit funds. UK brokers typically support various payment methods, including bank transfers, credit/debit cards, and PayPal. I used a bank transfer for my first deposit because it had lower fees compared to cards.
Keep an eye on deposit fees and processing times. While PayPal is fast, it may incur higher fees than bank transfers. If speed is a priority, a debit or credit card might be the best option.
Before transferring large sums, start small to ensure the deposit process works smoothly. My first deposit of £100 allowed me to explore the platform without committing too much upfront. Most brokers also convert GBP to USD automatically for Tesla shares, but it’s worth checking if they charge any currency conversion fees.
Step 3: Buy Tesla Shares
Place Your Order
Once your account is funded, you can place an order for Tesla shares. Go to the broker’s trading section and search for Tesla using its ticker symbol (TSLA). You’ll have the option to place a market order or a limit order:
- Market Order: Buys Tesla shares immediately at the current price.
- Limit Order: Sets a specific price you’re willing to pay; the trade executes only if the price reaches that level.
For my first Tesla purchase, I used a market order to ensure the trade was executed quickly. Watching Tesla’s price fluctuate beforehand added to the excitement. While a market order worked well for me, more strategic investors might prefer limit orders to take advantage of specific price points.
Track Your Investment
After purchasing Tesla shares, it’s essential to track their performance. Most brokers offer tools to monitor stock price changes, access Tesla’s earnings reports, and read news updates related to the company.
I made it a habit to check my broker’s app weekly to stay updated on Tesla’s market movements. This helped me understand trends and assess when to buy more or hold my position. Staying informed about Tesla’s growth strategies and industry developments ensures you make decisions based on data rather than emotions. Regular monitoring is key to managing your investment effectively.
FAQs
If you’re new to investing, start with a small initial purchase of Tesla shares to familiarize yourself with the process. This approach allows you to learn how the stock market works without risking too much capital upfront. I began with a modest investment of £200, which gave me confidence before gradually increasing my position over time.
It’s crucial to research Tesla’s market trends and understand the risks of investing in a volatile stock. Tesla’s price can swing significantly based on factors like quarterly earnings, Elon Musk’s public statements, or developments in the EV industry. Stay updated on Tesla’s news and performance to make informed decisions.
Diversification is also key to managing risk. While Tesla’s growth potential is exciting, I balanced my portfolio by investing in ETFs and other sectors. This ensured that I wasn’t overly reliant on the performance of one stock. A diversified portfolio is your best defence against market volatility.
FAQs
The easiest way to buy Tesla shares in the UK is through a regulated broker like eToro, IG, or Hargreaves Lansdown. These platforms are beginner-friendly, FCA-regulated, and allow you to buy Tesla shares directly in GBP.
Fees vary by broker. For example, eToro offers commission-free trading, while IG charges £3 per trade, and Hargreaves Lansdown charges £11.95. Some brokers also apply currency conversion fees when buying US stocks like Tesla.
Yes, platforms like eToro and Saxo Invest allow you to buy fractional shares of Tesla. This means you can invest as little as £10 and still own a portion of the stock.
Tesla is considered a growth stock with potential for long-term gains due to its leadership in the EV and renewable energy markets. However, it’s also volatile, so ensure you understand the risks before investing.
Yes, brokers like Hargreaves Lansdown and IG allow you to buy Tesla shares within an ISA (Individual Savings Account) or SIPP (Self-Invested Personal Pension) for tax-efficient investing.
Trade Smarter, not Harder
- Copy Trading
- Competetive Fee's
- Multi Asset Platforn
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Buy Tesla on eToro
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.