Tesla, Inc. (formerly Tesla Motors, trading under ticker TSLA) is a pioneering electric vehicle and clean energy company which in its 11 years on the market has ranked as the world’s best-selling plug-in and battery electric passenger car manufacturer.
Tesla stock has a history of being unpredictable and erratic, volatile price swings have become the hallmark of its performance. This can also be reflected in the company’s temperamental and sometimes controversial CEO Elon Musk, who is often drawing attention with bold claims.
Tesla stock has had a lot of movement over the past months, going for a massive run in the fourth quarter of 2019, but pulling back in the latest correction over the recent Covid-19 breakout concerns. It has since rebounded 11% at the beginning of March 2020.
With a market cap in the neighborhood of $140bn, Tesla has overtaken Volkswagen as the second most highly valued auto company (an industry that is presently facing quite a few challenges and difficulties).
Below we’ll go through the process of how to buy Tesla stock with Revolut — a London-based fintech company providing borderless banking services, a trading platform, and a free debit card, particularly suitable for full-time travelers, expats, and digital nomads.
Buying Tesla stock with Revolut
Revolut has been previously reviewed at Finbold already and a guide on how to open an account at Revolut (as well as get a free prepaid card) has also been covered. Among other things, Revolut offers commission-free stock trading. For trading stocks, you must first confirm the related agreement documents that Revolut will ask you the first time you try buying stock.
Note: To purchase stock in Revolut, you need to top up your investment account first. You can do this through your associated bank account you’ve linked to Revolut, in either one of the major currencies of your choosing. Revolut automatically converts between them based on the current market spot price.
Overall, the app provides a clean, simple and straightforward user interface for buying stocks, which is intuitive and easy to use, as shown in the steps below.
- Step 1 – Open the Revolut app and press “Dashboard”.
- Step 2– Head over to “Trading” and press “Show more”.
- Step 3 – After you confirm the related agreement documents that Revolut will ask you the first time you try buying stock, press “Invest”.
- Step 4 – Click on the “Search” icon and Type “Tesla”. Press on it.
- Step 5 – Press “Buy”.
- Step 6 – Enter the amount you want to invest in buying Tesla stock.
Note: You can buy any stock for as little as $1. If you will buy a dividend stock – you will only be eligible to get dividends to your Revolut investment account only if you will own at least 1 full share or more. Read more about fractional stock trading here.
- Step 7 – Confirm the order by clicking “Buy now”.
- Final step – Congratulations, your order has been executed, click “Done”.
- Order review – Finally, you’ll get a receipt-like order review of your purchase and will be able to track the value and return of your investment.
Before you buy
With Revolut you can trade over 800 US and S&P 500 stocks — from Amazon and Apple to Netflix, Nike, Peloton and PepsiCo to even Richard Branson’s Virgin Galactic Holdings (SPCE) among many more.
Note: Standard account has 3 commission-free trades per month. If you do more than three trades per month – you should opt for the paid Premium plan account, which increases your free trades to 8 per month. Or the Metal plan, which includes all features, a metal card and unlimited commission-free trading.
Here are the commission fees per trade in different currencies, once you exhaust your monthly free trades:
Before you go: Already operating or plan to open a business or start freelancing? Consider opening a business account with Revolut. The company offers a wide range of benefits when onboarding your business with “Revolut for Business“. Read our honest review about the features and other essential information by pressing the button below.
Please note: Trading carries risk. Make sure you do your research (DYOR) before investing your funds into any financial asset. Finbold.com is not responsible for any of the profits or losses you might experience. The article is for information purposes only. Finbold.com is not a financial advisor.