How to Buy TESLA Stocks in Canada | Full Guide to Wealth

Do you want to acquire Tesla stock in Canada but aren’t sure where to begin? You’re not the only one who feels this way!

Many Canadians prefer do-it-yourself stock trading rather than paying a broker to manage their investments. The rise of internet investment services such as Questrade and Wealthsimple has aided this greatly.

This article will go through how to buy Tesla stocks in Canada. We’ve covered everything from a general review of Tesla to traditional and online trading choices.

As previously mentioned, Tesla Motors debuted its first vehicle, the fully electric Roadster, in 2008.

The car was one-of-a-kind because it was the first fully electric vehicle with equal power and range to gasoline-powered cars.

Tesla ceased development of the Roadster in 2012 to focus on developing the new Model S, a sedan that won praise for its design and performance characteristics.

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Brief History of Tesla

Two American entrepreneurs, Marc Tarpenning and Martin Eberhard, founded tesla Inc., formerly known as Tesla Motors, until 2017, in 2003.

They named the company after the famous inventor Nikola Tesla. The pair intended to develop and manufacture electric sports cars, beginning with the groundbreaking Roadster sedan in 2008.

Tesla received its initial funding from various outlets, the most notable of which was PayPal co-founder Elon Musk, who invested more than $30 million in the venture and acted as the company’s chairman beginning in 2004.

Eberhard resigned as CEO and President of Technology at the end of 2007 to join the company’s advisory board. They announced in 2008 that he had left Tesla but remained a shareholder.

Tarpenning, who worked as Vice President of Electrical Engineering and was heavily involved in the Roadster’s creation software and electronic systems, also left the company the following year. Following their departures, Musk assumed control of the company as CEO.

Tesla Autopilot, semi-autonomous driving, was introduced in 2014 on the Model S. In 2015, the company launched the Model X, a crossover vehicle with SUV characteristics based on a car chassis.

In 2012, the company developed free-of-charge, fast charging stations for Tesla owners in the United States and Europe, dubbed Superchargers. Tesla Stations are later models that could replace the Model S’s battery array.

In 2018, the firm also ventured into manufacturing renewable energy devices and batteries. It solidified its commitment to this space in 2016 by purchasing SolarCity, a company that manufactures solar panels.

Tesla Motors was renamed Tesla Inc. in 2017 to reflect that it no longer sold only vehicles.

Tesla Stock and its financial profile

Recently, Tesla stock dropped in the morning following its quarterly earnings release, as analysts differed from how it was accomplished.

For example, Tesla earned $518 million in revenue from regulatory credits during the quarter, a 46% increase over the previous year. Tesla sold $272 million in cryptocurrencies during the period, making a profit of $100 million.

Tesla reported adjusted earnings of 93 cents per share after the market closed on April 26. This is a 304 percent increase over the previous year and exceeds Zacks Investment Research analyst estimates of 79 cents.

Revenue increased by 74% to $10.39 billion. This is the company’s highest sales performance in ten years. The business faced direct parallels to the previous year, when the coronavirus outbreak was at its peak.

It also helped that Tesla’s Shanghai plant had just begun ramping up Model 3 production in the first quarter and was producing the first Model Y produced in China.

According to the IBD Stock Checkup tool, Tesla stock has an IBD Composite Rating of 93 out of 99.

According to the ranking, Tesla stock currently outperforms 93 percent of all stocks in terms of the most significant fundamental and technological indicators.

In addition, the stock has a Relative Strength Rating of 94. The ranking reflects market dominance. It compares the price change of a store over the last 52 weeks to that of other stocks.

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TESLA Rating

It has a C+ Accumulation/Distribution Rating. This ranking considers price and volume shifts in a stock over the previous 13 weeks of trading. A grade of A shows a lot of institutional buying going on.

The lowest rating of E shows a lot of selling going on. Consider the C grade to be neutral.

Its relative strength line reached an all-time high in late January and has been trending downward but has recently levelled off.

The relative strength line compares a stock’s strength to the entire S&P 500 index. The RS line is depicted in the map as the blue line.

Typically, the RS line of the strongest stocks is positive or negative. The strongest stocks’ RS line either confirms or leads a stock’s price into new high ground.

Timing is all in the stock market. So, when searching for stocks to buy or sell, it’s critical to conduct fundamental and technical research to identify lower-risk entry points with solid potential rewards.

The ticker symbol for Tesla is: “TSLA.”

What to Consider Before Buying Tesla stock.

Buying Tesla stock at such a high price can be too risky, depending on how much you will take on your investments.

Investors with a higher risk tolerance could be interested in purchasing the stock and keeping it for several years while anticipating volatility.

Others seeking diversification may want to reduce their Tesla holdings, so they do not outweigh other investments.

Your belief will heavily influence your investment decision in the company’s current and future success. Qualitative and quantitative variables must be considered when deciding where to invest.

Before investing in Tesla stock, consider its total sales, management, risk, and competition. If you believe in Elon Musk’s vision for the company’s future, Tesla might be an excellent investment.

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What are the Risks of Investing in the Stocks Industry?

Commodity Price Risk

The commodity price risk is the risk that a change in commodity prices would influence the company.

Commodity sellers prosper as prices rise but lose when prices fall. Companies that use goods as inputs experience the inverse effect.

Commodity risk affects even businesses that have little to do with commodities. As commodity prices rise, customers cut back on spending, which has a ripple effect across the economy, including the service sector.

Headline Risk

The danger that reports in the media will damage a company’s business is headline risk. With the constant flow of news, no organisation is immune to the possibility of making headlines.

For example, a single piece of bad news may trigger a market reaction towards a particular business, an entire industry, or both.

Larger-scale bad news, such as the euro-zone debt crisis in 2010 and 2011, will punish entire countries, let alone stocks, and have a tangible impact on the global economy.

Rating Risk

Rating risk arises if they assign a company a number to reach or keep. In terms of credit rating, every company has a critical number. A company’s credit rating significantly impacts the cost of funding.

However, publicly traded firms have another number that is just as important, if not more important, than their credit rating. That is the analysis rating; any changes to the analysts rating on a stock seem to have an outsized psychological impact on the market.

Whether negative or positive, these shifts in ratings often cause swings far more prominent than is justified by the events that led the analysts to adjust their ratings.

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Obsolescence Risk

Obsolescence risk is the risk that a company’s market will become extinct. Very few companies survive to the age of 100, and none of them do so by continuing to use the same business processes that they began with.

The most significant risk of obsolescence is that someone would discover a way to produce a similar product at a lower cost.

With global competition becoming more technologically savvy and the information gap closing, the risk of obsolescence will probably increase.

Detection Risk

The detection risk is the possibility that the inspector, enforcement programme, regulator, or other authority will miss the bodies buried in the backyard until it is too late.

If the company’s management takes money out of it, falsely reports profits, or some other form of financial shenanigans, the market will come to its senses when the news breaks.

With identification risk, the damage to the company’s image could be difficult to restore. The company may never recover if the financial fraud was widespread (Enron, Bre-X Minerals, among others).

Legislative Risk

Legislative risk refers to the uneasy relationship between the government and industry.

It is the danger that government decisions could constrain a business or industry, negatively impacting an investor’s holdings in that company or industry.

The actual risk will manifest itself in various ways, including an antitrust suit, new rules or standards, complex taxes, etc.

In principle, the government serves as a buffer between the interests of corporations and the public. The government steps in when business endangers the public and cannot control itself.

In reality, the government has a predisposition to over-legislate. Legislation raises the public’s perception of the importance of the government while also giving attention to individual congressional representative.

These powerful incentives result in much more legislative risk than is truly needed.

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Inflationary Risk and Interest Rate Risk

These two dangers may exist independently or in tandem. In this context, interest rate risk refers to the difficulties that rising interest rates create for companies that need financing.

It is becoming more difficult for them to remain in business as their costs rise because of rising interest rates.

Suppose this rise in rates occurs during an inflationary period, and increasing rates are a common way to combat inflation. In that case, a company’s financing costs will rise as the value of the dollars it brings in falls.

While this double bind is less of a problem for businesses that can pass on higher prices, inflation dampens consumers. Interest rate and inflation increases, combined with a weak market, may lead to a weakened economy and, in some situations, stagflation.

Model Risk

Model risk is the risk that the assumptions underlying the economy’s economic and business models are incorrect. When models get out of whack, the companies that depend on those models suffer.

This causes a domino effect in which certain businesses struggle or fail, which hurts the companies that depend on them, and so on.

The mortgage crisis of 2008-2009 was a textbook example of what happens when models, in this case, a risk exposure model, fail to reflect what they measure accurately.

The Bottom Line

There is no such thing as a risk-free investment or business. Although every stock faces these universal risks and additional risks unique to their industry, the benefits of investing will far outweigh the risks.

As an investor, the best thing you can do is understand the risks before investing and maybe hold a bottle of whisky and a stress ball nearby during market volatility.

Where Can you Buy Tesla Stock in Canada?

There are several ways to buy Tesla stock, but the simplest are to do it either through a brokerage account or with the help of a financial advisor. 

#1. Online Stockbroker

An online discount broker is the most convenient and cost-effective way to purchase Tesla stock.

You can open accounts in the comfort of your own home and in the shortest amount of time if you have social security or social insurance number, a home address, and the address of your employer.

This choice has a low to no minimum investment required to open investment, and if you have little funds, it will do you a lot of good to explore this means.

Here is a simple step by step guide to finding an online stockbroker:

  • Find an online stock broker
  • Open a brokerage account
  • Add funds to your brokerage account
  • Search for Tesla’s stock within your trading platform
  • Define your purchase’s entry and exit points
  • Place your Tesla shares buy order

Regardless of how simple the steps may sound, there are a lot of details to be covered in each of them, and most of the brokerage provide in-depth guidelines to complete the steps and purchase your TESLA stock in no time.

Here is a list of stockbrokers in Canada

  • Questrade 
  • Qtrade Investor 
  • Interactive Brokers 
  • TD Direct Investing 
  • CIBC Investor’s Edge 

#2. Stockbroker

This option is more expensive for any investor because the stockbroker will be charging you for the professional input and service in trading Tesla stock for the investor.

Stock broker                                                                                     Location
Aafaqui Alafzal Customs Brokerage Inc.                             Toronto
A & A Contract Customs Brokers Ltd.                             Pacific Highway
Arrival Customs Brokers Ltd.                                              Montreal
C.H. Robinson Worldwide Canada Ltd                           Toronto, Vancouver, Montreal
Cole International Inc.                                                      More than 25 locations
Jack Rutherford Customs Broker Limited                            Kitchener

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Other Ways to Purchase TESLA Stock in Canada

Through a Financial Advisor

You may also choose to execute the Tesla stock trade through a financial advisor at a flat fee per transaction or a small percentage of the portfolio value held for the investor.

A financial advisor can assess the risk involved, risk tolerance, and investment goals of the investor, then build and execute an investment plan for the investor.

However, such an option may be a luxury for investors keen to trade on Tesla stocks because Tesla is an individual stock. You can find savvy investors in Canada from Financial Consumer Agency of Canada.

Through a Robo-advisor

The investor can also alternatively engage a Robo-advisor, which decides how to invest the investor’s fund and allocate the assets based on his or her self-identified risk tolerance, financial goals, and time horizon.

List of Popular Canadian Robo-advisors


Fees: 0.20% to 0.25%, plus 0.17% to 0.22% MER (0.37% – 0.47% total)

Number of Portfolios: 5

Customer Support Channels: Phone, email, online live chat

How to Open an Account: Link


Fees: 0.40% to 0.50%, plus 0.16% to 0.17% MER (0.56% – 0.67% total)

Number of Portfolios: 3 main ones (excluding Halal and SRI)

Customer Support Channels: Phone, email, no live chat


Fees: 0.35% – 0.50%, plus 0.25% average MER (0.55% to 0.75% total)

Number of Portfolios: 10 Risk Level Portfolios

Customer Support Channels: Phone, email, online live chat


Fees: 0.40% – 0.50%, plus 0.20%-0.25% MER (0.60% to 0.75% total)

Number of Portfolios: 70 Portfolios

Customer Support Channels: Phone, email, online live chat

Nest Wealth

Fees: $20, $40, or $80 a month, plus MER (0.13% for balanced)

Number of Portfolios: Customized For Each Person

Customer Support Channels: Phone, email, no live chat.

FAQs- How to Buy Tesla Stock in Canada

Is Tesla stock available in Canada?

Tesla is traded on the NASDAQ stock exchange in the US. You can buy this stock on Canadian trading platforms as a Canadian investor.

However, it is worth monitoring the USD/CAD exchange rate to determine the currency impact of your investment decisions.

What is Tesla Canada stock symbol?


Tesla Inc (TSLA)

How to buy Tesla stock in Canada Scotiabank?

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 a publicly-traded firm, so any investor interested in the stock can purchase it. Regarding how to buy Tesla Stock in Canada, when an investor buys Tesla stock, he or she gains the rights of a shareholder. However, to trade, the investor must open a brokerage account.

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