How to Buy Tesla Shares
Buy and sell CFDs on Tesla shares USA without commission when you open an account with one of these brokers.
Understand how to buy or sell Tesla stocks online with this step-by-step guide.
Step 1: Get started
Before you place your first trade, you'll need to decide what it is that you are buying. You can either buy shares outright, in which case you'll become a registered shareholder, or simply profit from changes in Tesla's share price through instruments known as CFDs (or Contracts for Difference). This article discusses the pros and cons of CFDs vs shares in detail.
A CFD allows you to profit from changes in Tesla's stock price without actually owning shares: go "long" if you expect prices to rise, or go "short" if you expect them to fall. Speculating on changes in prices, rather than taking ownership of shares, also means that you are free from the rights, obligations and taxes associated with share ownership.
CFDs are popular with investors like you because they allow you to trade on margin for a fraction of a stock's price, yet see changes in the price fully reflected in your profit or loss. You could buy a CFD on Tesla stock currently valued around US$ 900 with a low US$ 100 deposit through AvaTrade.com by borrowing the difference.
Most CFD brokers charge no commission. Instead, they earn a living through the bid-ask spread; that is the difference between the price at which you can buy and sell securities from them. Some brokers charge a fixed spread at all times, whilst other charge a variable spread based on market conditions. AvaTrade's spread is just 10 cents over the market spread.
Step 2: Open an account online
Visit FxPro.com or AvaTrade.com and open an account online. It's helpful to have a copy of proof of address and proof of identity documents at hand; as most brokers will require that you upload these documents prior to placing your first trade. If you are in a hurry to trade, we suggest funding your account through a debit card, credit card or an e-wallet (such as PayPal, Skrill or NETELLER). Bank wire transfers can be particularly slow and costly to complete.
Step 3: Place your first trade
Placing your first trade may seem daunting, but it need not be. All brokers in our panel allow you to trade directly from their website or a smartphone app. Click a button to 'buy' and another to 'sell' (or 'short') Tesla shares directly from the charts. Nowadays, you no longer need to pick up the phone to trade through a dealing desk. Visit FxPro.com and AvaTrade.com to start trading.
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