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How To Buy Tesla Stock in Canada?

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Without having the background knowledge and experience, investing can be a daunting task.

In reality, all it takes is just four simple steps to begin your investing journey.

Understanding how to invest your money can help you grow your wealth and achieve greater financial freedom.

1. Choose one of the many investment platforms available to Canadians.
2. Open an account on the broker’s trading platform and deposit funds into your trading account.
3. Decide on which company you want to invest in (in this case it’s Tesla) and look them up on the platform.
4. Purchase your desired number of shares of the company of your choice.

These steps are fairly high level, so let’s break it down further.

One of the most popular stocks recently has been Tesla.

They were the first company to deliver over 200,000 electric vehicles in the U.S.

The company has seen its Tesla stock price rise drastically over the past few years, and many new investors are attracted due to their familiarity with the brand and the product.

1. Choose an Investment Platform

The first step in buying Tesla stock is to choose an investment platform.

  • Low commissions
  • Ability to purchase fractional Tesla shares
  • Robust suite of research tools

As an individual, the easiest way to participate in the stock market is through one of these platforms.

In Canada, there are several choices, with each of them offering slightly different pricing, services, and products.

These companies all have online and mobile applications that allow you to buy, sell, and hold stocks. It is important to do research on all of your options to determine which platform best meets your needs.

These platforms offer several options that cater to different types of investors.

For example, many of the “discount brokerage” platforms offer low-cost or commission-free trading, such as Interactive Brokers and Wealthsimple Trade.

  • Lowest and most transparent commissions
  • Large number of tradable security types
  • Robust suite of research tools
  • Low margin rates, from 0.75% to 1.59%
  • Access to 40,000+ funds worldwide & 7,700+ funds with no transaction fees

Each of the platforms will usually offer different options on its websites such as Robo investing, managed portfolios, and self-directed investing.

Through these options, you can choose to either have computer algorithms decide where to invest your money (Robo investing), have a financial advisor make decisions for you (managed portfolio), or choose to invest on your own (self-directed).

Another decision you will need to make is the type of account you want to use when investing.

Most Canadian investment platforms will usually offer the choice of investing in registered or non-registered accounts.

Buying and selling stocks in a registered account is a common strategy, as there are usually tax benefits associated with them.

When you make profits trading stocks in a registered account such as an RRSP or TFSA, these gains can be protected from taxes.

Both registered and non-registered accounts can be opened directly through most online platforms with just a few pieces of identification.

2. Open an Account and Deposit Funds

After you open a brokerage account, the next step will be to deposit money so that you can start trading.

Transferring money into your trading Tesla stock account from your bank account can be done in several ways.

For example, a deposit from your bank account can be done through your debit card, bank transfer, direct debit, e-transfer, pre-authorized deposit, Interac online, wire transfer, bank draft, certified cheque, or a variety of other methods.

Each investment platform has slightly different choices, and these will be laid out clearly when you are setting up your account for the first time

After the initial deposit, you may also want to continue periodically adding money into your account. To do this, you can set up an auto-deposit. This allows you to add a predetermined amount of money into your investment account on a predetermined date, ensuring you are saving throughout the year.


3. Search for Tesla Stock on Your Platform

Now that you have chosen an investment platform, opened an account, and deposited funds, it is almost time to begin buying your Tesla stock.

To do this, open up the investment platform on either online or mobile applications.

Depending on the platform, you will see something slightly different on the main screen.

Each platform should have the ability to search for specific stocks.

Rather than typing in the company name, you will need to search for the company by their ticker.

These tickers range from 1-4 letters and are unique, making it easier for traders to quickly identify companies.

For Tesla, typing the ticker TSLA into the search bar will bring up a screen that shows information about the company.

This screen will contain information such as current prices, company news, and information, earnings reports, trading volume, and price-to-earnings ratios.

For investors, the information contained on the stock trading screen is used to quickly analyze the company.

To increase the chances that you are buying Tesla stock that will go up and earn you profits, research and analysis should be conducted using this and other information before you decide to buy stock.

For example, when looking at Tesla, you see information on the trading screen about their latest quarter earnings report.

Looking at this information, you may see that they beat expectations and posted record revenues.

This may give investors confidence that the company is heading in the right direction, making the investment safer and more likely to be profitable.

Also included on this page will be information such as share price and market cap.

The share price is how much one share of the company is currently being traded for at that given moment.

The stock price changes every second, and is based on the rules of supply and demand. If there are more buyers (bidders) than sellers (askers), the prices will go up, and the inverse is true as well.

The share price is not the only important metric to look at.

The market cap of the company will likely be shown as well.

This number refers to the total value of the company (number of shares X price per share).

It’s important to note that having a higher share price does not necessarily mean that the company is overpriced or more valuable.

For example, imagine two companies: one that has 100 total shares trading at $20 a share and another with 50 total stock trading at $40 a share.

While the latter company may seem more expensive and valuable, they both have a market cap of $2,000.

Once you have found TSLA, you are almost ready to make your first investment.

Another question you must ask yourself is how much money you want to invest.

At the time of writing, Tesla currently trades for around $284 a share.

A question you may ask is “can I invest in Tesla if I don’t have $284?

In fact, there are several ways of investing in the company even if you do not have enough to purchase one share.

The first option is to purchase fractional stocks. As the name suggests, this option allows traders to buy less than one full share.

Not every investment platform has this option, so doing research beforehand is important.

Another option is to purchase an exchange-traded fund or ETF.

These funds usually contain a basket of different trade stocks bundled together.

For example, one of the most widely traded ETFs is SPY, which is a basket of the 500 largest publicly traded U.S. companies (also known as the S&P 500).

As Tesla is a part of the S&P 500, purchasing a share of SPY means that you are also purchasing a small part of Tesla as well.

SPY has a lower share price, providing an opportunity for more investors to gain ownership of Tesla shares without needing to invest too much money.

However, TSLA going up will only marginally impact the stock price of SPY, as the ETF performance is also dictated by the 499 other companies in the S&P 500 as well.

Investing in ETFs can give you broader exposure to multiple companies, but also reduces the upside that can be gained when investing in fewer companies.


4. Purchase Your Desired Quantity of Tesla Shares

The final step will be deciding what type of order you want to use.

The most common is a market order.

Market orders will simply fill at the current market price, guaranteeing the purchase.

Another option is to place a limit order, which executes trades if the stock reaches a specific price.

For example, if you think TSLA stock is going to drop from $250 to $200, you can set a buy order to $650, which means the trade will not execute until the price drops to $200.

Conducting research into the company is one of the most important steps of investing.

Understanding how the company operates and what the future outlook will be can be the difference between seeing a negative or positive return on investment.

Putting money into companies that have no solid business plan or track record of success is a surefire way to lose your investments.

To continue with our example, we can see what kind of information would be useful in deciding if Tesla is a worthwhile investment.

Tesla Company Overview

Founded in 2003, Tesla was named after famous electrical engineer Nikola Tesla.

While Elon Musk is currently one of the most well-known CEOs in the world, he was not actually part of the company until 2003.

The company was founded by Martin Eberhard and Marc Tarpenning, two entrepreneurs who envisioned a car company that was also a technology company.

The company invested heavily in electric vehicle technology.

Research and development to develop their first product, the Tesla Roadster, took many years and millions of dollars.

It was not until 2008 that the company began producing and delivering the cars.

Since then, the company has added several other models to their lineup, with the Model S, Model 3, Model X and Model Y all becoming massively popular.

Traditional car manufacturers have been slow to catch up, and as a result, Tesla has enjoyed a period of rapid growth over the past decade.

Aside from Tesla, the main competitors in the electric vehicle sector are Volkswagen, Renault, and Audi.

While Tesla dominates in the North American market, Europe and Asia are all seeing increased competition from other brands.

By 2023, an additional 450 electric vehicle car models are estimated to be unveiled across all car manufacturers.

Tesla Historical Share Price Performance

Due to Tesla’s run of success, the company has seen its stock rise significantly over the past two years.

At the end of 2019, the stock was trading at roughly $400.

At its peak in June of 2020, the stock was trading at four times that amount, briefly reaching over $1,400.

The price now sits at around $284.

At first glance, it may appear that Tesla stock dropped more by 50 percent since June 2020, but this is not the case.

The company decided to split their stock, giving 5 shares of Tesla for every 1 share owned before the split.

Later on they did a 3-1 split.

This was done because the price of the stock was getting too high.

As mentioned before, high prices prevent investment from those who have less money.

Just like fractional shares and ETFs, share splitting is another way to allow more investors to invest in the company at a lower per-share cost.

However, it is important to understand that stock splits do not change the company’s evaluation.


Top Trading Platforms


Webull is better than Robinhood because it offers more features. With Webull, you can trade on margin, short-sell stocks, and use a variety of order types. You can also use the app to research stocks, read news articles, and watch financial shows. Unfortunately, this stock trading app does not allow Canadian citizens to open accounts.


Try The #1 Trading Platform in Canada



As Canada’s largest discount broker, Questrade has been a staple in the Canadian market for over two decades. Questrade fulfills many of my day-to-day needs, including low fees and excellent customer service. Just like other trading platforms offered by online brokerages and traditional banks, Questrade is regulated by the IIROC and is part of the Canadian Investor Protection Fund (CIPF).


Platforms such as Wealthsimple are emerging and providing an alternative to traditional investing and financial planning. Those that are very new to investing and don’t have the time to track individual stocks can benefit from both the diversification model as well as help from Wealthsimple’s advisors.

Interactive Brokers Canada

IBKR is one of the most versatile online brokerages available at the moment. With such a large variety of securities available to be traded, there is surely something for everyone on the IBKR platform. Overall, the platform must be commended for moving towards becoming the go-to platform in Canada for all traders.

  • Lowest and most transparent commissions
  • Large number of tradable security types
  • Robust suite of research tools
  • Low margin rates, from 0.75% to 1.59%
  • Access to 40,000+ funds worldwide & 7,700+ funds with no transaction fees


Robinhood is a zero-commission trading platform that boasts over 13 million users. The company allows users to trade stocks, ETFs, options, and cryptocurrencies such as bitcoin without any fees on their laptop or mobile device through a very easy-to-use app. The equivalent to Robinhood in Canada is Wealthsimple Trade.

TD Ameritrade

TD Ameritrade offers an extensive selection of asset classes, market data and research tools, and educational material for self-directed investing. The platform is extremely intuitive and user-friendly. With no minimum deposit, TD Ameritrade is a great discount broker for beginner investors who don’t want to come up with a large sum to begin their investment journey.


Can I Buy Tesla Stock Directly?

Tesla Motors Inc. (TSLA) is a public company that trades on the NASDAQ exchange. It is not possible to buy Tesla stock directly from the company. Instead, investors must buy shares of Tesla stock through a broker or online trading account. Tesla is one of the most popular stocks traded on the NASDAQ and it has experienced significant growth in recent years. The company has plans to continue expanding its product lineup and production capacity in the coming years. As a result, Tesla stock is likely to continue outperforming the broader market.

What Is the Easiest Way to Buy Tesla Stock?

The easiest way to buy Tesla stock is through a broker. A broker will allow you to buy and sell Tesla stock as well as other stocks. You will need to open an account with a broker in order to trade Tesla stock. There are many different brokers to choose from and each has its own fees and services.

When choosing a broker it is important to consider the fees they charge, the type of investments they offer, and the customer service they provide. Some interactive brokers have no minimum investment amount while others have high minimums.


Try The #1 Trading Platform in Canada


How to Invest in Tesla Stock?

If you’re interested in investing in Tesla, here’s how to do it step by step:

1. Figure out how much money you want to invest.

2. Research the stock to see if it’s a good investment.

3. Buy the stock through a brokerage firm.

4. Monitor the stock to make sure you’re making a profit.

How Much Does It Cost to Buy Stock in Tesla?

When it comes to Tesla stocks, the price you pay depends on what type of Tesla stock you buy. For example, if you want to buy common stock in the company, the price per share will be more expensive than if you purchase a bond from Tesla. Additionally, the price of Tesla stocks may vary depending on how much risk investors are willing to take on. Ultimately, the cost of buying Tesla stocks will depend on a number of different factors.

What Apps Let You Invest in Tesla?

There are a few apps that let you invest in Tesla. One is called Stockpile, which allows you to buy fractional shares of stocks. Another is called Robinhood, which is a commission-free stock trading app.