How to Buy Tesla Stock in Canada

There are four steps to buying Tesla stocks:

1. Open a brokerage account

Opening a brokerage account will be your first step in buying Tesla stock (if you already have an account, you can skip to Step 2).

A broker is basically the middleperson between you and Tesla. You’ll place an order for Tesla stock and your broker will go out and find the exact number of shares you want to buy.

Not all brokerages will serve your needs equally. Some will charge lower trading commissions, while others will offer more advanced research and analytical tools.

You should also pay close attention to currency conversion fees. This is a fee your brokerage will charge to convert CAD to USD – the currency you need to buy U.S. stocks from Canada. Many brokerages will charge 1.5% of your purchase amount to exchange currencies, but it’s not rare for a brokerage to charge more (or less!) than that.

For more help choosing the right brokerage, you can browse our top brokerage picks and see which one might be best for you.

2. Research Tesla stock

Tesla might just be one of the most successful automobile manufacturers in the history of the car industry. But don’t let its success force your guard down. You should always research a company before buying its stock, no matter how big or prestigious it seems.

One common way to evaluate Tesla stock is to use fundamental analysis. This approach assumes that Tesla’s stock price doesn’t necessarily reflect the company’s intrinsic value. To get at its real value, fundamental analysts use evaluation metrics, such as:

Earnings per share (EPS): This helps you analyze a company’s profitability by comparing net income with outstanding shares. For example, if Tesla is worth $11 billion and has 3 billion outstanding shares, then its EPS would be $3.60.

Price-to-earnings (P/E) ratio: With a P/E ratio, you compare a company’s share price with its earnings per share (EPS). A low P/E might tell you a stock is undervalued, whereas a higher P/E would mean the opposite. For example, if Tesla’s stocks trades for $180 (and it’s EPS is $3.60), it’s P/E would be 50. That’s high and might signal the stock is overvalued.

Price-to-earnings-growth (PEG) ratio: This ratio compares a company’s P/E ratio with its expected annualized earnings growth. For example, with a P/E ratio of 50 and an expected earnings growth of 33%, Tesla would have a PEG of 1.5. A lower PEG means a stock is cheaper relative to its growth rate.

To get the most out of these metrics, you’ll want to compare Tesla’s ratios with similar companies, such as Ford, Honda, or even Canada’s own EV stock, GreenPower Motors. This can help you gauge whether the stock is over or undervalued, as well as see if you can get more value for the same price from another company.

For a quick look at Tesla’s historical performance, here’s how the stock has moved over the last year (you can adjust this to different time periods):

3. Decide how much to invest

The amount you invest in Tesla will depend on your budget, savings, and current portfolio of stocks. As far as how you invest that money, you can approach buying stock in a few ways:

Buy a large amount of Tesla stock all at once. This is the “lump sum” approach. You have a specific amount to invest with—say $1,000—and you choose to buy as much Tesla as that amount allows.

Buy a small amount you can afford to lose. If you only have $1,000 in savings, it might not be wise to dump it all in Tesla. Buying one share (or a fraction of one) might be more advisable.

Dollar-cost average over a long period. This approach involves investing a consistent amount periodically. For example, investing $100 every 2 weeks. In this way, you can buy Tesla stock at different share prices, which, when averaged together, might be cheaper than buying shares at once.

When you place your order, you broker will ask you to select an order type: market or limit.

A market order means your broker will fill your order at the current market price.

With a limit order, you tell your broker the price you want to pay, and your broker will fulfill it if the share price reaches that number. For instance, if Tesla is trading for $180, and you want to buy it at $175 per share, your broker will only execute the trade if Tesla drops to that price.

4. Monitor your investment, but don’t obsess

It’s a good idea to review your stocks every now and then, Tesla or not. Pay attention to its performance – especially compared with other stocks over the same period – and read through financial statements when they’re published.

If you’re dollar cost averaging, you might want to ask yourself if you should continue buying Tesla stock, or if there’s another stock that might be worth your investment.

That said, you don’t want to obsess over your Tesla stock, nor do you want to engage in day trading. At The Motley Fool, we recommend buying stocks you know you’ll stay invested in for at least 5 years. If you think Tesla is the right investment for you, it’s wise to stay invested rather than sell frequently during price swings and volatile times.

Should Canadian investors buy stock in Tesla?

Tesla has long been a rewarding investment for early backers, but whether Canadian investors should buy the stock today depends on their risk tolerance and investment outlook. In 2025, Tesla remains highly volatile. Its share price has swung dramatically, falling over 20% year-to-date before rebounding in June on excitement over a limited robotaxi rollout in Austin, Texas.

While the long-term vision around autonomous vehicles and AI-driven transportation presents a transformational opportunity, the stock’s near-term performance is heavily influenced by erratic delivery numbers, growing competition, and Elon Musk’s increasingly polarizing political activity.

For those comfortable with high-risk, high-reward scenarios, a small position in Tesla may be appropriate, especially if they believe in the company’s robotaxi trajectory. However, Canadians who prefer a more balanced, diversified approach may find it safer to gain exposure through ETFs like the iShares NASDAQ 100 Index ETF (TSX:XQQ), which includes Tesla alongside other tech leaders. This strategy offers the potential upside of Tesla without the concentrated risk of holding individual shares.

FAQs

How much would $1,000 worth of Tesla stock in 2010 be worth today?

If you invested $1,000 in Tesla at its 2010 IPO price of $17 per share, your investment would be worth over $150,000 as of mid-2025, accounting for stock splits and price appreciation. This assumes you held all shares through Tesla’s 5-for-1 (2020) and 3-for-1 (2022) splits.

How much will my Tesla stock be worth in 5 years?

Tesla’s future value depends heavily on factors like robotaxi adoption, global EV demand, and leadership decisions. Analysts’ 2030 forecasts range widely—from $250 to over $1,000 per share, reflecting high uncertainty.

How many shares of Tesla does Elon Musk own?

As of mid-2025, Elon Musk owns approximately 411 million Tesla shares, representing about 13% of the company. His stake makes him Tesla’s largest individual shareholder.

How to Buy Tesla Stock in Canada

Can you buy Tesla stock in Canada?