How to Buy Tesla Stock – Pay No Fees

Even if you aren't following the progress of electric cars you have heard of Elon Musk, the CEO of Tesla. The co-founder of PayPal who is also attempting to enter space has been named the "Richest Man in the World." And investors are keen to follow his every move.
Last year, Tesla's stocks became the talk of the town, surging higher and higher as the company (and Musk) continued to make news. The S&P Dow Jones Indices added Tesla to its S&P 500 by the end of 2020, pushing sales up even more. It continues to break records and on January 26, 2021, reached its highest stock closing price of $883.09.
As of March 31, Tesla's price is $635.62 a share. (Coinciding with a decline in overall stock market prices.) Want to get your hands on shares of this hot stock? I'll take you through the process.

Step 1: Finding a broker that offers Tesla Stock

Since Tesla is a publicly traded company, the stock is available to anyone keen on purchasing equity. There are several ways to buy Tesla Stock but the easiest and the most convenient is to do it through a brokerage account. Different brokers have account minimums, trading commissions, and the stocks they can sell and there are several online brokerage platforms that you can buy and sell from your laptop or mobile device. Weigh your options before making a decision. It is also possible to purchase fractional shares of equity if you do not have enough funds on hand to handle the steep costs. Here are a couple of online platforms that can help.


Stash aims to make investing easy and quick for you. It caters to first-time investors who are looking to enter the world of investing and who do not have a huge amount of capital. The app has a beginner-friendly approach and allows you to invest in thousands of stocks. Stash is a paid service that starts as low as $1 per month and goes up to $9 per month – the beginner account is the one that begins at just $1 per month.
There is no opening deposit required for Stash but if you deposit $5, Stash will match it and give you another $5 to invest. If you want to go deeper, there is a growth account that adds to a retirement account with $3 per month. Further, there is Stash+ that is available at $9 per month and you get an investment account for two children, among other things.
You can also purchase fractional shares with Stash, which can come in handy for purchasing Tesla stock. If you can't afford the current share price over $600, use what you can in a fund that pools with other members to make the high-priced stock more affordable.

Pros and cons

  • No minimum deposit to open an account
  • Fractional shares of stocks sold
  • Minimum monthly fees, starting as low as $1
  • A stock-back debit card that provides an online bank account
  • The app is based on your goals and not on buying individual stocks


Robinhood is a free trading platform where you can buy Telsa stock on Apple iOS or Android phones or anywhere else online.
No minimum deposit is needed to open an account and a Robinhood Cash account allows zero-commission trades. However, it doesn’t include instant deposits or instant settlements. You'll need a Robinhood Gold for that, at $5 per month.
Robinhood is known for selling fractional shares. On Robinhood, fractional shares can be as small as 1/1,000,000. Trading of fractional shares is done in real-time and is commission-free.

Pros and cons

  • No commitments
  • No monthly fees
  • No minimum account balances
  • Fractional shares of stocks available
  • Limited investment products offered as some competitors
  • Difficult to reach customer support

Step 2: Research Tesla shares

Tesla Inc. is a car company that was founded in 2003 in San Carlos, California. The company was named after the inventor Nikola Tesla, who made great strides in electricity during the 19th century. The company designs, manufactures, and sells electric cars and was originally named Tesla Motors. It was founded by engineers Marc Tarpenning and Martin Eberhard who served as the CEO and CFO, respectively. Elon Musk joined the company in 2004, investing $30 million in the company and becoming the chairman of the Board of Directors. When Tarpenning and Eberhard left the company – claiming it was forcibly – Musk became the CEO.
Today, Tesla is one of the top companies in the EV market across the world. The company operates two main segments: energy generation and storage and automotive. The energy generation and storage segment sell renewable energy, solar systems, and energy storage products while the automotive segment focuses on electric vehicles and EV powertrain components.
Tesla Inc. is listed on NASDAQ and it made its debut as a public company on Jun. 29, 2010. The IPO price was $17 a share and it raised $226 million in the IPO. In 2010, the stock was as low as $3.84. It didn't hit triple digits until 2020. Since then, Tesla has seen high market volatility. In August 2020, it issued a 5 for 1 stock split, which dropped the price of the share to below $400 as compared to the price of $2,200 per share before the split. The stock is currently exchanging hands at $635 and is up more than 4,000% since the IPO.

Tesla price history

Investing in an IPO is an opportunity to make the most of the growth and Tesla is not an exception. The company has grown tremendously over the years. If you had invested $1,000 in Tesla in the IPO in 2010, you would have received 58 shares and your investment would be worth $36,830 without the stock split. But the company announced a five-for-one split, so you would hold 232 shares worth a whopping $147,320 today.

Tesla dividend information

Tesla has not paid a cash dividend at any point. This is because the company has not reported a profit in any of the years. Investors shouldn’t expect a dividend soon because the company is not making a profit. However, Tesla’s net losses have narrowed down over the years and started to turn positive in Q2 2020. It managed to make a profit but the amount was not enough to sustain a dividend payout.

Best features of Tesla stock

If you could not buy Tesla stock in the IPO or over the last few years, you can still buy it and make the most of the growth opportunity. The stock is down from its one-year high of $900 which means there is a chance that the company will go higher when stocks rise again. At the current rate of $635, there is a strong potential of generating profits if it hits the 52-week high mark again.
With each delivery report and annual report, the company is beating the analyst estimates. Wall Street analysts have a buy rating with price targets as high as $950. Tesla has consistently grown in terms of revenue over the last 5 years. Tesla expects to deliver more than 200,000 vehicles in China this year, which will make the revenue numbers go higher and investors a lot richer. It is expected that the company will be on its road to profitability in the coming years and this is when the real action will begin.
Another reason to believe in Tesla is the competitive edge it enjoys. Despite a large number of EV companies in the market including General Motors and Ford, Tesla continues to maintain a stronghold. It offers features and technology that no other companies do. The EV industry is only going to expand in the coming years. There is government support to EV manufacturers like Tesla, and Nio as economies are moving towards a greener future. Countries are welcoming self-driving cars and considering the current technological and environmental state, the industry will expand over the next 5 years.
Tesla is ahead of its game in many ways. The company has already announced that it will accept bitcoins (cryptocurrency) as payment for their car. To facilitate the payment, Tesla will be using internal and open-source software. As crypto acceptance starts to ramp in the coming period, the transactions will soon hit a new high. Tesla has already purchased $1.5 billion worth of bitcoin last month and more purchases are expected in the coming months.

Step 3: Open an account & buy Tesla shares

If you want to buy Tesla shares, it is time to open an online brokerage account and dip your toe in the financial world. I'll use Stash to show you how. You can simply open an account on Stash without depositing any money, and the process is simple and straightforward.
Decide the amount of money you want to invest and head to the Stash website. You can explore the website and learn more about stocks and ETFs. You can also search for individual stocks here.
On the homepage, click on “Get started”. You then need to provide the email address and password to create an account. This process will take less than 5 minutes.
You now need to provide personal information so that Stash can identify the types of investments you are looking for.
Provide your name, citizenship status, birthdate, address, phone number, the purpose of investment, and estimated pre-tax household income.
Once this is done, you will be asked to pick a plan. You can choose from one of the three plans and choose a payment method.
Once you have signed up, you can decide on the number of shares you would like to buy. You can use the ticker symbol of Tesla (TSLA) to place an order. You can then choose between a market or limit order. In a market order, you can purchase at the current stock price, and in a limit order, you decide the maximum or minimum price at which you want to own the stock. You can also buy fractional shares.


How much were Tesla shares when the company first went public?
Tesla stock was priced at $17 when it first went public in 2010 through an IPO.
How much does it cost to buy Tesla shares today?
As of closing on March 30, 2021, Tesla shares cost $635.62.
Does Tesla pay dividends?
Tesla does not pay any cash dividends.
What is the minimum number of Tesla shares that I can buy?
You can purchase one share or a fractional share if you use the right brokerage.

The bottom line

Before proceeding to purchase Tesla stock, it is important to access your financial situation and understand the long-term investment goals. All stocks are susceptible to volatility. Due to the surge in the company’s stock, CEO Elon Musk has become the richest person in the world, and based on the market data, investors believe that Tesla's stock could be worth a lot more.
If you haven’t been able to keep away from following the success story of Tesla and other growth stocks and it has grabbed your attention over the last year, you may be keen on buying Tesla stock. The stock has grown faster than ever and you can get some action, even with a few dollars.
Using online brokerage accounts like Stash, Robinhood, or Wealthfront, you can go ahead and enter the world of the stock market. You can also purchase fractional shares through Stash if you do not have hundreds of dollars to own one share. Remember that you will win some and lose some. The stock market is known for volatility and you should be willing to take the risks. Buying stock at a high valuation comes with its risks and you must consider your risk tolerance and investment portfolio before making the move.

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