May 9, 2024

How To Buy Tesla Shares In The UK With No Fees - 2024 Guide

Tesla is the brainchild of the enigmatic, gifted, and widely unpredictable billionaire Elon Musk (aka the real-life Tony Stark). Musk has a history of turning everything he touches into gold, as he was on the founding team of PayPal (which he later sold to eBay for about $1.5B) and SpaceX

Tesla is his foray into the electric vehicle (EV) industry. However, Tesla is also heavily involved in energy solutions, such as solar panels and sustainable batteries. The company’s flagship vehicle is the Model S, the instantly recognisable sleek luxury sedan. They have also released the Model 3, a more affordable option that has won the hearts of a broader audience, the Model X, the SUV with those weird 'falcon wing' doors, and the Model Y, a more compact option.

And, of course, who can forget the eventful launch of the “indestructible” Tesla Cybertruck? Tesla is also behind the futuristic vehicle that looks like the twisted love child of the DeLorean from “Back to the Future” and a Mars Rover. 

As the UK pushes forward with its green initiatives, owning a Tesla feels like stepping (or more like driving) right into the future of transportation. Even though I am not a huge fan of Elon’s part celebrity, part tech guru personality, I believe Tesla could be an attractive long-term pick for UK investors. With that in mind, I would like to explore a bit more of Elon’s surreal, electric-powered universe and provide a fundamental analysis of one of his most intriguing projects. 

Quick Guide: How To Buy Tesla Shares In The UK?

Buying Tesla shares as a UK citizen is easy and can be done directly from any online investing platform. To invest in Tesla stock from the UK, you can follow these straightforward steps:

  • Step 1: Download the Wealthyhood app to get started.

  • Step 2: Create a free account.

  • Step 3: Complete the W-8BEN Form

  • Step 4: Add funds to prepare for your investment.

  • Step 5: Search for Tesla (TSLA) stock.

  • Step 6: Enter the number of Tesla shares you wish to purchase.

  • Step 7: Press "Buy" to execute your order.

By completing these steps, you can invest in Tesla shares from the UK using the Wealthyhood app. Let’s take a more in-depth look at the process.

Buy Tesla Shares

How To Buy Tesla Stock: Detailed Guide

Step 1: Download the Wealthyhood App

It’s easy to start investing in Tesla by downloading the Wealthyhood app. Once installed, you're ready to set up your account.

Step 2: Create Your Free Account

After downloading the app, the next step is to sign up and create a free account. This process involves providing some basic personal information and setting up your login credentials. The sign-up process is designed to be quick and user-friendly. Keep in mind that you’ll have to complete an ID verification, so make sure you are in a well-lit environment and have some form of identification handy.

Step 3: Complete the W-8BEN Form

For UK residents looking to invest in US stocks like Tesla, completing the W-8BEN form is essential. This form ensures that you are taxed appropriately on your investments. It's a crucial step, so make sure to fill it out accurately. 


Step 4: Add Funds to Your Account

Before you can buy Tesla shares in the UK, you need to fund your account. Wealthyhood offers various options to deposit funds, such as bank transfers or credit card payments. Decide how much you want to invest and transfer the funds accordingly. For guidance, refer to the screenshot showing the funding section.


Step 5:Search for Tesla (TSLA) Stock

With your account funded, navigate to the stock selection section in the app. Enter "TSLA" into the search bar to find Tesla shares. This is where you'll see the current price and other relevant data about Tesla stocks. 


Step 6: Buy Tesla Shares

Once you’ve found Tesla stock, enter the number you wish to purchase. You can buy whole shares or opt for fractional shares if you prefer not to invest in a full share. After entering your desired amount, press "Buy" to execute your order. Check the screenshot for a detailed view of the purchase interface.

Buy Tesla Shares

Step 7: Monitoring Your Tesla Investment

After purchasing your Tesla shares, it's important to keep track of your investment. Wealthyhood provides tools within the app to monitor the performance of your stocks, allowing you to see real-time changes in value, access detailed analytics, and receive updates about Tesla's financial health and market trends. You can also use the app to check the status of other corporate behemoths you might be interested in, such as Netflix, Amazon, and Apple.


By following these steps, you can easily invest in Tesla shares from the UK through the Wealthyhood app. Each step is designed to be straightforward, ensuring a smooth and accessible investment process. 

How to sell your Tesla shares

If your investment is successful and you are considering cashing in on those gains, well done! It’s not easy to make a profit by investing. The selling process is relatively straightforward with Wealthyhood. Just log into your account, enter the ticker symbol for your shares, and choose the quantity you'd like to sell. Once your position is sold, you can withdraw your money to your account or reinvest in a different position. Congratulations, you are now an accomplished investor. Way to go!

Selling your positions is the easy part. What you should be careful about is that if your investment has done exceptionally well, you might have to pay Capital Gains Tax (CGT) on your profits, particularly if your shares are not sheltered in a tax-exempt account like an ISA.

For the tax year 2023-24, the CGT tax-free allowance is set at £6,000, down from £12,300 in the previous year. Looking ahead to the 2024-25 tax year, this allowance will decrease further to £3,000. Understanding CGT, its rates, and allowances is crucial, especially as these can significantly affect your take-home profit from investments.

Remember, tax rules depend on individual circumstances and could change in the future. The information provided here is for educational purposes only and isn't intended as tax advice. Consider consulting a tax professional for personalised guidance, and check the official websites for updated information.

Why Should UK Investors Consider Buying Tesla Stock

Gone are the days of old-timey, noisy diesel engines! Nowadays, governments worldwide push and subsidise electric vehicles. With all the buzz (or, better yet, the discreet electric engine humming) surrounding these new developments, it’s natural to want to get in on the “green energy” action. However, I think more factors are at play here that could make Tesla an appealing choice for the UK market. 

When you are planning an investment thesis on Tesla, there are several facts that you can take into consideration. 

  1. Innovation and Market Leadership: Tesla is widely recognised as a leader in the electric vehicle (EV) industry, continually pushing the boundaries of what's possible in automotive technology. Their innovations in EVs, battery technology, and autonomous driving systems position them at the forefront of several high-growth industries.

  2. Growth in Electric Vehicle Demand: The global shift towards sustainable energy and green technologies is accelerating, particularly in markets like the UK, where there is significant governmental support for reducing carbon emissions. This trend will likely increase demand for electric vehicles, which is Tesla's core business.

  3. Expansion and Scalability: Tesla has been expanding its production capacity worldwide, including in markets close to the UK, which might reduce logistics costs and improve delivery times for European customers. In addition, their expansion also helps to mitigate risks associated with reliance on single manufacturing hubs.

  4. Brand Strength and Consumer Appeal: Tesla's brand is one of its most significant assets, synonymous with quality and innovation. This strong brand appeal translates into significant consumer demand and a loyal customer base, which can drive sales even in competitive markets.

  5. Investment in Energy Solutions: Besides vehicles, Tesla's investment in renewable energy solutions, like solar panels and energy storage, diversifies its business model. The growing global focus on sustainability could increase demand for these products, providing another revenue stream beyond cars.

For UK investors, considerations around currency fluctuations, international trade policies regarding the transition to greener transportation options, and how these might affect Tesla's performance are also critical. Investing in Tesla should be considered part of a diversified investment strategy in any investment platform or robo advisor, balancing the potential for high returns with the associated risks and the overall investment horizon.

Buy Tesla Shares

Key Metrics To Consider When Doing Your Tesla Stock Analysis

When analysing Tesla stock (TSLA), key metrics you should keep in mind are revenue, earnings per share (EPS), asset turnover, and stock price fluctuations. Recently, Tesla's revenue hit $21.3 billion in Q1 2024, although this slightly decreased from the previous year. 

Currently, Tesla holds a consensus rating of 'Hold' based on 32 analyst ratings over the past three months. The breakdown includes 8 'Buy' ratings, 15 'Hold', and 9 'Sell'. The average price target is $173.29, representing a slight downside of 0.82% from the current price of $174.72. The price targets range significantly from as high as $310.00 to as low as $22.86, indicating a considerable divergence in analyst expectations and uncertainty about the company's future performance.

Basic metrics for Tesla fundamental analysis

When analysing Tesla (TSLA) stock, there are several key metrics that investors should consider to perform a thorough fundamental analysis. The data below may be outdated so make sure to do your due diligence by checking the company’s performance on the Wealthyhood app. 

  1. Earnings Per Share (EPS): EPS is a direct reflection of Tesla's profitability. As of the latest reports, Tesla's EPS stands at $3.92. This fundamental metric indicates how much profit Tesla is generating per share of its stock, and it's crucial for assessing the company's financial health.

  2. Revenue Growth: Tesla's revenue growth is a critical indicator of its operational success and market expansion. Recently, Tesla reported a revenue of $96.77 billion, marking its position as a leader in the electric vehicle industry. ​​In the fiscal year 2023, Tesla's revenue experienced a significant increase, growing by 18.8% compared to the previous year. The company reported annual revenue of approximately $96.77 billion in 2023, up from $81.46 billion in 2022​.

  3. Price-to-Earnings (P/E) Ratio: The P/E ratio for Tesla currently stands at 44.57 on a trailing basis and 57.68 looking forward, helps investors evaluate if the stock is overvalued or undervalued compared to its earnings. A higher P/E ratio could suggest that the stock is overvalued or that investors expect high future growth rates.

  4. Debt-to-Equity Ratio: This ratio is crucial for understanding Tesla's financial leverage. Tesla has a low debt-to-equity ratio of 0.08, indicating that the company is not heavily reliant on debt to finance its operations, which is a positive sign of stability.

  5. Return on Equity (ROE): Tesla's ROE is 23.50%, which is quite robust. This measure is essential as it indicates how effectively the company generates profits from the shareholders' equity. In simple terms, a higher ROE indicates a financially efficient company capable of generating substantial returns.

  6. Market Cap and Valuation Metrics: Tesla's market cap currently stands at approximately $557.22 billion, with an enterprise value of $535.71 billion. It is well worth noting that, in the past five years, Tesla's market capitalisation has seen substantial changes, indicating high growth rates and volatility. Starting at $75.71 billion in 2019, Tesla's market cap surged to around $1.061 trillion in 2021 due to strong financial performance and optimism around electric vehicles. However, in 2022, it dropped to $388.97 billion, then recovered to $789.89 billion by the end of 2023, reaching approximately $557.21 billion by May 2024.

  7. Future Earnings Growth: Analysts project an EPS growth rate of 11.55% over the next five years, which suggests expectations for Tesla's continued profitability and operational efficiency.

I believe that these metrics provide a pretty good view of Tesla's financial health and market position, aiding investors in making informed decisions. For anyone invested in Tesla or considering an investment, I suggest keeping a close eye on these figures. 

Why You Shouldn’t Invest In Tesla Stocks

Based on past performance, it is evident that Tesla's stock can be incredibly volatile, mainly due to its high profile and the media attention surrounding its CEO, Elon Musk. Prices can fluctuate significantly based on company news and Musk's public statements. I vividly recall how Musk's tweets have repeatedly caused significant fluctuations in the value of Dogecoin. For instance, when he tweeted support for it, labelling Dogecoin as "the people's crypto," the price of digital currency surged dramatically. This kind of market movement was not even a one-off event. Musk’s tweets have consistently had a profound impact on Dogecoin’s valuation throughout various periods.

Musk's interaction with the cryptocurrency world doesn’t stop at tweets. His decisions, such as Tesla’s brief acceptance of Bitcoin as a form of payment and his personal investments in cryptocurrencies, have also led to significant market movements. His activities reached a peak of influence when he joined Twitter's (nox X) board, which coincided with notable surges in Dogecoin’s value.

These instances highlight that Musk is simultaneously Tesla’s biggest asset and biggest liability. His presence in the media and his active participation on social platforms like X continue to make him a central figure capable of swaying investor sentiment with just a few words or actions​

It is important to remember that while Tesla offers substantial growth potential, it comes with a higher risk profile, which investors need to consider relative to their investment strategy and risk tolerance.

Is Tesla A Good Stock To Buy Right Now?

Tesla's stock performance has indeed been a rollercoaster ride in 2024. So far, the company has seen significant declines but some recent promising rebounds. Here's my take on whether Tesla is a good buy right now, based on the latest shifts and strategies unveiled by the company.

The year started rough for Tesla, with the stock plummeting about 30%, yet it managed a notable surge after the Q1 earnings announcement. Despite reporting lower-than-expected earnings and revenue, Tesla's stock jumped 12% the following day. This investor optimism seems fueled by Elon Musk's hints at launching more affordable models and a positive outlook on 2024 vehicle deliveries, emphasising Tesla’s push towards full self-driving capabilities.

On the other hand, there's substantial restructuring underway within the company. Musk's decision to lay off top executives and cut jobs as part of cost-reduction efforts adds a layer of uncertainty to our investment thesis. Such moves signal a shift towards streamlining operations, so they are not necessarily bad. Nevertheless, there are concerns about potential short-term disruptions and loss of valuable expertise, particularly regarding Tesla's supercharger and new vehicle programs.

The stock's technical indicators show it has (at the time of writing this article) reclaimed its 10-week line and 50-day moving average, suggesting a potential shift in market sentiment. However, the broader consensus among analysts, like Adam Jonas from Morgan Stanley, hints at continued volatility looking forward, as Tesla navigates this strategic realignment.

Tesla’s 52-Week Performance

The 52-week performance of Tesla's stock has been, in plain terms, a wild ride. Over the past year, the stock has seen a 52-week high of $299.29 and a low of $138.80. The highest value was recorded on July 19, 2023, indicating a peak period for the stock, while the lowest came on April 22, 2024.


The stock's beta, at 2.34, indicates that Tesla shares are considerably more volatile than the broader market. This level of volatility is typical for Tesla and can be attributed to various factors, including market reactions to news about the company, Elon Musk's public statements, and broader economic conditions affecting the tech and automotive sectors.

Should you buy Tesla now? Our Opinion

While Tesla's pioneering role in the EV market and Musk's ambitious vision for self-driving technology and AI integration are compelling, the current phase of transition introduces risks that cannot be overlooked.

If you believe in Tesla's long-term growth potential and are comfortable with volatility, this is a buying opportunity. My personal hot take is that Tesla is definitely not a company to count on for your retirement, but it would make an excellent addition to a growth-focused portfolio. 

Please note that the information provided here is for general informational purposes only. All information on the site is provided in good faith; however, I make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability, or completeness of any information on the site. This content is not intended to be a substitute for professional financial advice. Always seek the advice of a qualified financial advisor with any questions you may have regarding investment decisions. If you have any comments or questions, feel free to get in touch at

Who Owns Tesla: Largest Tesla Shareholders

Below, I’ve added some information about who owns the most Tesla stock among individual and institutional investors. 

Top individual shareholders

  1. Elon Musk: As Tesla's CEO and a foundational figure, Elon Musk is the largest individual shareholder with approximately 715.022 million shares, equating to about 20.6% of Tesla's outstanding shares as of March 2023. His significant stake underscores his deep commitment and influence over the company’s strategic direction.

  2. Zachary Kirkhorn: Previously the CFO until his resignation in August 2023, Kirkhorn was the second-largest individual shareholder, holding about 2.68 million shares.

  3. Kimbal Musk: Elon Musk’s brother, Kimbal, holds about 1.7 million shares as of April 2023. He has been actively involved in Tesla’s management and has pursued interests in the food industry and other technology ventures.

  4. Ira Ehrenpreis: A Tesla board member and venture capitalist, Ehrenpreis owns about 1.68 million shares. He focuses on investments in clean energy and technology through his firm, DBL Partners.

  5. Robyn Denholm: An independent director at Tesla since 2014, Denholm owns 1.67 million shares. She has extensive experience in the technology and automotive sectors.

Top institutional shareholders

  1. The Vanguard Group: As of September 2023, Vanguard held 225.94 million shares, and it owns about 7% of Tesla, making it the largest institutional shareholder. Vanguard operates under a unique structure in which the investors in its funds are the owners.

  2. BlackRock: With 186.65 million shares, BlackRock controls about 5.8% of Tesla's stock, standing as the second-largest institutional shareholder. As the world’s largest asset manager, BlackRock’s stake in Tesla is a significant part of its diverse global portfolio.

  3. State Street Corp: This major asset manager owns 104.86 million shares or 3.3% of Tesla, valued at $19.21 billion as of the end of September 2023.

  4. Geode Capital Management: Geode holds 53.87 million shares, and it accounts for 1.7% of Tesla’s outstanding shares. The firm has been a significant player in the asset management field since its inception in 2001.

  5. Capital World Investors: As a historic investment firm from the Great Depression era, Capital World Investors owns 41.1 million shares, which translates to 1.29% of Tesla's total shares.

Frequently Asked Questions About Tesla

Here are the answers to some of the most frequently asked questions about Tesla I found on the internet. 

Can you buy Tesla stock in the UK?

Yes, you can buy Tesla stock in the UK, and it's quite a straightforward process as we’ve explained above. Thanks to the availability of online trading platforms that provide access to US stocks like Tesla, which is listed on NASDAQ, the trading of commodities is nowadays much more efficient. To start, you'll need to choose a broker that offers trading on US stocks, such as our very own Wealthyhood. 

Wealthyhood is praised for its user-friendly interface aimed at long-term, beginner investors, and it provides a simple, commission-free structure for trading. This could be particularly appealing if you are just starting out or prefer a straightforward approach to investing. Additionally, Wealthyhood's commitment to low fees and accessibility makes it an attractive choice for budget-conscious investors.

Can I buy one share in Tesla?

Yes, you can buy a single share of Tesla. In fact, you can buy less than a share of Tesla. Many online brokers and trading platforms (Wealthyhood included) offer the ability to purchase fractional shares, allowing you to invest in high-priced stocks like Tesla with a smaller amount of money. Practically, this means you can start investing from as low as £10, irrespective of the value of the actual share.

This kind of flexibility makes it easier for more people to participate in the stock market and gain exposure to companies they believe in, even if the share price is outside their budget. Always make sure to review the services and fees associated with buying stocks through your chosen platform to ensure it meets your investment needs and budget.

Can I buy stock directly from Tesla?

No, you cannot buy stock directly from Tesla. Tesla shares are publicly traded on the NASDAQ under the ticker symbol TSLA and must be purchased through a brokerage account. This is standard for most publicly traded companies, as direct stock purchase plans are not typically offered by companies like Tesla.

To invest in Tesla, you need to set up an account with a brokerage firm that has access to NASDAQ. There are many such platforms available that cater to different types of investors, offering services ranging from simple stock trading to more advanced investment tools and resources.

Does Tesla pay a dividend?

Tesla does not currently pay dividends to its shareholders. The company has consistently reinvested its earnings back into its business operations, focusing on growth, innovation, and expansion rather than distributing profits to the shareholders. This approach is common for companies in growth phases, especially in high-innovation sectors like electric vehicles and renewable energy. As these are all relatively new technologies, significant capital is required to fund research, development, and operations.

If you're considering investing in Tesla with the expectation of receiving a stable income, it is essential to note that Tesla's investment appeal lies more in potential capital appreciation rather than regular income generation through dividends.

What does it cost to buy Tesla shares?

The cost of buying Tesla shares depends on the trading platform or brokerage you choose to use. When considering the expense of buying Tesla shares, you typically need to consider several types of costs: the price of the stock itself, which fluctuates based on market conditions, and any associated fees or commissions charged by the brokerage.

Wealthyhood offers a particularly attractive option for those looking to invest in Tesla shares without incurring high fees. Wealthyhood allows for commission-free trading of stocks, meaning you won't pay any commission fees when buying or selling Tesla shares.

While the trading is commission-free, it's essential to be aware of other potential costs that might apply, such as foreign exchange fees if you're trading in a currency other than the one your account is denominated in or regulatory fees that apply to all transactions regardless of the platform.

For example, if you are purchasing shares in a currency different from your account's base currency (for instance, buying Tesla shares in dollars with a sterling-based account), you will likely incur a foreign exchange fee. This fee compensates for the currency conversion required to execute the trade. The typical range for foreign exchange fees is between 0.5% and 1.5% of the transaction amount.

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