Home Best Stock Trading Platforms Where & How to Buy Tesla (TSLA) Stock in 2023
Sam Alberti
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While innovative and tech-led companies make some of the most attractive stock picks for beginner investors, those looking to buy Tesla stock are advised to familiarize themselves with the firm’s turbulent history.

At the hands of eccentric and often controversial CEO, Elon Musk, the electric car giant has seen numerous price swings since it went public in 2010. Just this year, its Q3 earnings per share are down 44% year-on-year ($0.53).

But this takes nothing away from Tesla’s impressive overall success, with the automaker now boasting a market capitalization of over $700bn

In this guide, we will address the question of how to buy Tesla stock in 2023, in addition to examining Tesla’s price history, and our top recommended broker to buy Tesla stock on a zero commission basis.

Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees.

How to buy Tesla (TSLA) stock – A quick guide 

Step 1: Choose an online broker and open an investment account

Step 2: Verify your account – many brokers will require two forms of government ID to complete this process

Step 3: Fund your account using a debit/credit card or bank transfer – many brokers have no minimum deposit amount, but for those that do, it can be as low as $10

Step 4: Search for the Tesla (TSLA) ticker – here you will find the latest news and performance information 

Step 5: Place an order – once your account is funded, you can open a position.

What is Tesla?

Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla, Inc. has emerged as a pioneering force in the automotive and clean energy industries. Under the leadership of Elon Musk, who joined the company in 2004, Tesla has become synonymous with electric vehicles, renewable energy, and cutting-edge technology. The company is headquartered in Palo Alto, California.

Tesla gained widespread recognition for the Tesla Roadster, followed by popular models like the Model S, Model 3, Model X, and Model Y. Beyond automotive, Tesla has expanded into energy storage solutions with products like the Powerwall and Powerpack, as well as solar energy solutions through its acquisition of SolarCity.

Tesla’s stock, traded on the NASDAQ under the ticker symbol TSLA, has experienced remarkable volatility and garnered significant attention from investors. The company’s ambitious goals, including mass adoption of electric vehicles and advancements in autonomous driving technology, contribute to its status as a disruptor in both the automotive and energy sectors.

Tesla (TSLA) stock price 2023

Tesla posted record revenues for 2022, with profits more than doubling year-on-year to $12.6bn. However, amid an increasingly competitive market and challenging economic conditions, 2023 has been a different story, with the EV maker’s Q3 results falling short of expectations.

According to CNBC, the company’s revenue was $700,00 lower than expected at $23.4bn, while earnings per share hit 66 cents compared to a projected 73 cents.

Similarly, Investor’s Business Daily reported that Q3 vehicle deliveries saw a 6% shortfall. The Model 3 and Model Y were also cut in price by $1,250 and $2,000 respectively.

These shortcomings have seen Tesla stock take a substantial hit, with the firm’s share price falling around 21% in the four weeks after its Q3 financials were made public.

At the time of writing, the price stands at $237, a nearly 42% drop from its October 2021 peak. 

However, this arguably does little to detract from a strong overall 2023, with Tesla’s share price having more than doubled since the beginning of the year.

Tesla (TSLA) stock price data 

how to buy tesla stock on etoro

Is Tesla (TSLA) a good investment in 2023?

Those looking to buy Tesla stock in 2023 should be wary that the company’s explosive growth of the last decade is unlikely to be seen again.

However, there is plenty to be optimistic about. Despite shortfalls in Q3 financial targets, the automaker’s market capitalization still more than doubles that of Toyota, Ford and General Motors combined. And though major swings have occurred with some regularity, Tesla’s share price has continued its impressive overall growth, having jumped 118% since January 3.

Tesla’s ambition and future prospects are also a major factor in this equation, with a pickup, semi-truck, a supercar, and fully self-driving cars (including taxis) all in development and slated for future release. 

Most notably, the long-delayed Tesla Cybertruck is due to enter mass production imminently, with the first deliveries due at the end of November.

But many have raised concerns regarding the soaring rates of global inflation and its impact on Tesla. While the automaker’s Q3 results showed a 9% jump in revenue year-on-year, its gross profit, operating and EBITDA margins all fell by over 7%

In fact, while Tesla once comfortably led the automotive industry on gross margin, the firm was bested by key competitor Toyota Motor Corp in Q3. 

In conclusion, investing in Tesla in 2023 demands a careful consideration of both the company’s remarkable achievements and potential challenges. While Tesla’s rapid growth may not be replicated in the coming years, its market capitalization, ambitious projects, and imminent product releases provide grounds for optimism. 

The impending mass production of the Cybertruck signals a significant milestone, yet concerns linger regarding the impact of global inflation on Tesla’s financial metrics. Investors should monitor these dynamics closely, recognizing that the landscape for electric vehicles and sustainable energy is evolving rapidly. 

Where to buy Tesla (TSLA) stock in 2023

Investors can buy Tesla stock through various online brokerage platforms, with eToro being a popular choice. eToro offers a user-friendly interface, low minimum deposits, and supports fractional share trading, making it accessible for beginners.

Other popular choices include Robinhood, Webull and Charles Schwab, all of which are known for offering numerous trading options, user-friendly interfaces and commission free structures.

1. eToro – Best platform to buy Tesla (TSLA) stock

eToro is a social trading platform that offers access to numerous different financial markets and asset classes. Since its launch in 2006, eToro has become home

to more than 20 million traders worldwide. The broker offers competitive trading and non-trading fees, with free stock and ETF trading, and no account or deposit fees.

Being a social trading platform means that users can communicate and interact with the rest of the trading community on the eToro platform, much like social networking sites.

The minimum deposit for US-based investors is just $10, and there are no deposit or account fees. This means the entry point for buying Tesla stock is highly accessible and suitable for beginners. This is possible because eToro supports fractional share trading, meaning that traders can acquire a portion of a more valuable stock.

Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees.

2. Robinhood – Commission-free stock investments

Robinhood is a zero commission trading platform renowned for its user-friendly interface. Since its inception, it has gained widespread popularity, attracting millions of users. 

Robinhood stands out for its no-commission model, offering zero trading fees trades on stocks, ETFs, and options. Users can engage in social trading, fostering a community atmosphere similar to social networks.

With a low minimum deposit, accessible fractional share trading, and no account fees, Robinhood provides an affordable entry point for investors, making it particularly suitable for beginners.

3. Charles Schwab – Educational tools and resources for stock trading

Charles Schwab is a renowned online brokerage platform known for its extensive range of investment options and comprehensive services. With a reputation for reliability, it caters to a diverse investor base.

Offering a user-friendly interface, Charles Schwab provides access to various financial markets and investment products. While not a zero fees platform, it compensates with a robust suite of research tools and educational resources.

Charles Schwab’s platform supports different account types, making it suitable for both beginners and advanced investors. With a focus on customer service and a commitment to innovation, Charles Schwab is a prominent choice for those seeking a well-rounded online brokerage experience. Verify current details on their official website for the latest information.

4. Webull – A modern and affordable brokerage platform

Webull is a dynamic commission-free trading platform that has gained popularity for its intuitive design and advanced features. Launched in 2018, Webull provides a user-friendly interface with real-time market data and analysis tools. 

With a focus on equities and options, it caters to both novice and experienced traders. Webull stands out for offering commission-free trades on a variety of assets, including stocks and ETFs. The platform supports extended trading hours, providing flexibility for active traders.

Webull’s accessible mobile app and desktop platform, along with no minimum deposit requirements, make it an attractive choice for those seeking a modern and affordable trading experience.

Tesla (TSLA) stock data November 2023 

Date Open High Low Close Volume
Nov 14, 2023 235.03 238.14 230.72 237.40 144.79M
Nov 13, 2023 215.60 225.40 211.61 223.71 140.45M
Nov 10, 2023 210.03 215.38 205.69 214.65 131.31M
Nov 09, 2023 219.75 220.80 206.68 209.98 142.11M
Nov 08, 2023 223.15 224.15 217.64 222.11 106.58M
Nov 07, 2023 219.98 223.12 215.72 222.18 116.90M

How to invest in Tesla (TSLA) stock in 2023

In general, investing in stocks through eToro consists of four key stages: Opening a live trading account; verifying your identity (as per Know Your Customer regulations); depositing funds; and purchasing the stock.

Here is a more detailed view on how to buy Tesla stock.

Step 1: Open a brokerage account with eToro

First, you must visit the eToro website and create a free account there. In order to get your account up and running, follow the instructions on the screen. A few basic personal details will need to be entered at this point.

Step 2: Verify your account

Now that you have set up an account, you need to verify it to be able to add funds to it. You will have to provide eToro with two forms of government ID to complete this process. A driver’s license or passport is a form of proof of identity, while a utility bill or bank statement is a form of proof of address. eToro will aim to verify these documents within minutes of receipt. 

Step 3: Fund your account

Your account will be able to receive funds as soon as you have successfully verified it. The minimum deposit amount is only $50, and no maximum amount can be deposited. Click on the ‘Add funds’ button in the left drop-down menu to open the deposit page. Several payment methods are available, including debit and credit cards, bank transfers, and e-wallets such as PayPal.

Step 4: Search for Tesla (TSLA) stock

The Tesla ticker can be searched in the eToro search bar by simply typing Tesla or TSLA. This is where you can find the latest news related to Tesla, statistics, charts with the live performance of the stock, and more.

Step 5: Place an order for Tesla (TSLA) stock

Once your eToro account is funded, you can open a position. After selecting Tesla from the drop-down list, on the blue button that says ‘Trade’ to place your order. Then, fill out the order form, and your Tesla position will be added.

Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees.

Our verdict on Tesla (TSLA) stock in 2023

Weighing up the decision to invest in Tesla stock demands an understanding of the company’s dynamic history and recent performance. Despite Q3 earnings setbacks, Tesla’s overall success is evident, with a market cap surpassing $700 billion.

Tesla’s stock price, currently around $237, reflects recent challenges but remains significantly higher than its January 2023 value. Evaluating Tesla’s investment potential in 2023 involves weighing its market dominance, ambitious projects, and imminent product releases against concerns such as global inflation impact. 

The impending mass production of the Cybertruck and Tesla’s ongoing innovations contribute to optimism, emphasizing the need for careful consideration amid the rapidly evolving landscape of electric vehicles and sustainable energy.

Potential investors can explore various online brokerage platforms, including eToro, Robinhood, Charles Schwab, and Webull. These platforms offer diverse features, from social trading to commission-free structures. In TradingPlatforms’ view, eToro is the best all-round choice for most investors.


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Sam Alberti

Sam Alberti

Sam Alberti has recently joined Trading Platforms as a content editor, having spent the past four years working as a journalist across various financial and business niches. He graduated from the University of Kingston in 2019 with a Master’s Degree in Journalism and an NCTJ Diploma, and has since developed a passion for both consumer and corporate finance. He now specializes in producing engaging and thoroughly-researched web content on all things finance.