How to Buy Tesla Shares in Nigeria
How to Buy Tesla Shares in Nigeria revealed. We tested and verified the best way to buy Tesla Shares in Nigeria.
This is a complete guide on how to buy Tesla shares in Nigeria.
In this in-depth guide you’ll learn:
- What are Tesla Shares?
- How to buy Tesla Shares in Nigeria?
- Which broker can you use to buy Tesla shares?
- How to buy Tesla shares for beginner traders?
- Which broker offers a signup bonus for first-time traders?
- Which brokers offer a $5 (2 076 NGN) minimum deposit for investing in Tesla shares?
- How many Tesla shares should you buy?
And lots more…
So if you’re ready to go “all in” with the Tesla share for Nigerians…
Let’s dive right in…
- Louis Schoeman
What is a Share?
👉 Definition: a share is a percentage of ownership in a company, such as Tesla, or a financial asset. Investors who hold shares of any company are known as shareholders.
Step by Step how to buy Tesla Shares in Nigeria
Step 1: Open an Account with a reliable and regulated broker
👉 To purchase and sell assets such as stocks, mutual funds, and exchange-traded funds, Nigerians need to open a brokerage account (ETFs). Although Nigerians get access to TSLA through a brokerage, it involves more than just that.
👉 It includes all the resources and information that Nigerians need to succeed as an investor, as well as a variety of investment accounts tailored to meet certain objectives. If Nigerians are planning to buy a Tesla in the next several years, a taxable brokerage account is the best option for them.
👉 There is no limit on how long or how much Nigerians can invest, but they will have to pay taxes on any gains or dividends when they sell an investment.
👉 Because no two brokerages are alike, it is important to shop around and evaluate the fees, investments available, and services provided by a few different firms before settling on one.
👉 A simple way to acquire Tesla shares is to use a reputable broker. Enter the stock’s ticker symbol (TSLA) and the number of shares to be purchased. A monetary amount may also be entered, and the broker will figure out how many shares (or sections of shares) Nigerian users can purchase.
Step 2: Decide on your Investment Size
👉 Traders should never place their entire investment amount in a single stock, which means that Nigerians need to evaluate the following components:
➡️ Their budget and/or financial restrictions. This involves the disposable income after having paid expenses for the month.
➡️ The current price on TSLA. One inherent characteristic of the stock market is that prices always fluctuate. However, TSLA’s price tends to be more than $400 per share and because of this, Nigerians may not be able to purchase an entire share of TSLA. Instead, Nigerians can invest in fractional shares through their broker.
➡️ The investment strategy. Most investors choose to invest in two ways, either with a large sum of money at once, or smaller amounts over time. The latter is known as dollar-cost averaging and it can help Nigerians reduce risks and help them pay less per share over a certain time.
➡️ Additional investments. If Nigerians are already investing in other financial instruments, they need to make sure that TSLA fits into the overall portfolio. Any single purchase should not have a massive effect on the overall portfolio. A typical rule is that an individual stock should not make up more than 5% of the Nigerian investors’ portfolio.
Step 3: Review Tesla’s performance and its potential
👉 It is a good idea to do some homework on a firm before investing in its stock, whether it is Tesla’s or another stock. The best place to start is with a company’s annual and quarterly reports (Form 10-K and Form 10-Q) (Form 10-Q).
👉 Public corporations, such as TSLA, are obligated to make financial health information readily available to the public via these reports and documents. Nigerians can find more information on Tesla’s financials by visiting the official website and consulting Investor Relations.
Step 4: View your available order types and place your orders
👉 Depending on the broker, Nigerians will have access to a range of different orders that they can use when buying or selling TSLA shares. Nigerians can use a simple market order to purchase shares at the current price. Alternatively, Nigerians can also use limit orders, stop orders, or others.
👉 Tesla shares can be purchased on NASDAQ from 9h30 am to 4 pm Eastern Time (ET) from Monday to Friday. However, even though these are the market hours, Nigerians can place their orders a few hours before the market opens and after it has closed if the broker offers pre-and post-market trading.
👉 If Nigerians place orders after market hours, the orders will be executed once the exchange opens.
Step 5: Evaluate your Investment
👉 Nigerians are urged to monitor their investors and the annualized percentage return is the best place to begin. TSLA’s performance over a year might be compared to that of other businesses or investments.
Tesla Stock Overview for Nigerians
👉 To build an electric sports automobile, Tesla Motors was founded. Both Eberhard and Tarpenning served as Tesla’s CEO and CFO, respectively (CFO). PayPal co-founder Elon Musk, who invested $30 million in the new enterprise and served as chairperson of the board of directors starting in 2004, provided most of the company’s funding.
👉 As an automaker and a technology business, Tesla Inc. (TSLA) is not appealing to professional investors these days because of its hybrid status. Full-electric cars are the company’s primary focus, but it also develops and sells energy generating and storage solutions as well.
👉 Subsequently, Tesla also offers service centres, supercharging stations, and vehicles with ever-improving self-driving capabilities.
👉 Design, manufacturing, sale and leasing stationary energy storage solutions, as well as the sale of electricity produced by its solar power systems, are part of its Energy Generation and Storage sector. Competitors in the automotive manufacturing industry include Daimler, Ford Motor Co. (F), Honda Motor Co. (HMC). Tesla went public for the first time in 2010 with 13.3 million shares priced at $17 each.
Overview
👉 In Nigeria, investment is necessary if you want to expand your money and stay ahead of inflation. Over time, inflation weakens the purchasing power of a currency. The value of your monthly savings will decrease each day if you do not have an investment in a worthy financial instrument.
👉 According to Bloomberg, the Nigerian equity market has returned 5% in 2021, a long cry from the 50% it produced last year when the Nigerian stocks market was rated top out of 93 economies it monitored. This year’s return is significantly below that, though.
👉 This is one of many reasons why Nigerian investors are exploring foreign investments, especially in the United States. Stocks in American firms may be purchased by anybody, regardless of their nationality.
👉 This means that Nigerian stock traders and investors can participate in the stock market in the United States even though investment securities are controlled by United States law. Non-U.S. citizens may lawfully trade U.S. stocks and bonds, although a consultation with an investing business and the employment of a professional may still be necessary.
👉 Non-U.S. investors may have to jump through more hoops before investing in U.S. equities, which may require additional paperwork. To safeguard the interests of the United States, foreigners with assets in the United States are subject to a variety of U.S. laws.
👉 An international stockbroker can assist Nigerian stock investors in ensuring that they are adhering to any restrictions that regulate U.S. stock and bond trading rules. One of the most popular stocks right now for Nigerian traders is Tesla (TSLA).
👉 Tesla enthusiasts are committed, regardless of whether they appreciate Elon Musk or just like the looks and performance of the vehicles made by his firm. From bioweapon-defence cars to solar roofing, Tesla (TSLA) is a big industry disrupter on a global scale.
👉 That has resulted in outstanding investment returns. Tesla’s revenue is up 98% year over year, and its stock is up roughly 80% from the same time last year, according to the company’s most recent financial report.
👉 To get in on Tesla’s electric boom, here is everything you need to know to purchase TSLA stock.
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Pros and Cons of Buying Tesla Shares
👉 Elon Musk’s market-moving statements and a continual stream of speculators eager to short Tesla shares have all contributed to the wild ride that has become Tesla’s stock price in recent years. Many Wall Street analysts, on the other hand, are pessimistic about Tesla’s shares.
Pros of Buying Tesla Shares in 2023
👉 Musk is a forward-thinking CEO on a quest to make electric automobiles more accessible to the entire public. His Twitter account is a must-read for car fans and investors alike. Tesla has a market value of $792.05 Billion as of March, which is more than Ford’s ($63.03 billion) in the United States. And, of course, Tesla has a great advantage over Ford, General Motors (GM), Toyota Motor Co. (TM) and most of the big competitors when it comes to future growth potential.
👉 Musk tends to think large and then act on it. When he founded the company that supplies rocket and engine components for SpaceX, the objective was to lower the cost of space travel and transport people to Mars.
👉 When he unveiled the sleek Tesla roadster last autumn, he astonished the market. But a few months later, he made headlines again when he sent one into orbit atop a SpaceX rocket, complete with an astronaut suit strapped to his chest.
👉 While working on Hyperloop, Musk claims that it could link Los Angeles to San Francisco and New York to Washington D.C. in a matter of minutes. To begin excavating on the north-eastern edge of the city, the District of Columbia permitted him to do so in 2017.
👉 Boring Company made headlines in 2018 when it sold the public $500 flamethrowers to fund $10 million (another Musk-promoted endeavour).
Cons of Buying Tesla Shares in 2023
👉 Tesla’s stock is not getting a lot of attention from investment analysts. TSLA stock has been inflated by Musk and the company’s inability to meet production forecasts, say stock analysts. Tesla’s stock is not getting a lot of attention from investment analysts.
👉 TSLA stock has been inflated by Musk and the company’s inability to meet production forecasts, say stock analysts.
👉 According to University of Michigan Ross School of Business Professor Erik Gordon, investors who want to purchase TSLA stock are either considered brave or deluded.
👉 Gordon has described Tesla as an “operational nightmare”. In addition, according to Gordon dates are often not met, as promised and several manufacturing issues remain. There are always new hires and departing employees and Musk tends to blame it on sabotage.
👉 Investors and experts doubted Tesla’s ability to maintain such figures even as CEO Elon Musk publicly celebrated the milestone a year ago.
👉 CEO of PriveCo Inc. and former Ford Motor executive Tom Nardone claims that stock’s lack of collapse is attributable to the fact that people who own it believe what Musk is saying and even infer from his words things he has not expressed. In many ways, analysts consider Tesla investment as a cult0like culture.
Should you Invest in Tesla in 2023?
👉 Electric-vehicle producer Tesla (TSLA) CEO Elon Musk has routinely exceeded expectations since he took the helm in 2008. Nigerian investors may be asking whether it is still a smart investment in 2023 after it produced fourth-quarter results that exceeded expectations.
👉 In 2021, Tesla delivered 936,172 automobiles, showing an impressive increase of 87%. Until late 2023, the Cybertruck will be the company’s first all-electric pickup truck. One second is all it takes for the new Tesla Model S Plaid to accelerate from 0-60 miles per hour.
👉 This is the fourth consecutive quarter in which Tesla has seen its profitability rise by double digits, to $2.54 per share on an adjusted basis. An increase of 65% in revenue, exceeding projections of 17.1 billion, was also reported for the period.
👉 Electric-vehicle producer, on the other hand, predicts production growth in 2023 despite supply-chain difficulties. Even though the firm indicated it will not be releasing any new electric vehicles this year, its stock price fell.
👉 Tesla intends to increase output at its present and future plants by manufacturing more of its current models. With demand outstripping supply, for the time being, Tesla has a fortunate situation. Austin, Texas, and Berlin, Germany, are important in solving these problems.
👉 Even though there are many other electric vehicles (EV) manufacturers out there, Tesla continues to have a significant market share despite the chip shortage. Earlier this month, Tesla was given the go-ahead to commence commercial production at its new Berlin facility. Up to 500,000 automobiles, a year may be produced at the site.
👉 This plant will build most of Tesla’s European-targeted cars, commencing with the Model Y crossover utility vehicle. Massive investments have been made to enhance Tesla’s manufacturing capacity. To achieve his goal of producing 20 million electric cars a year by 2020, Tesla CEO Elon Musk intends to ramp up production.
👉 More than any other auto-making powerhouse currently produces, that is more than two times as much. And thus they have launched an ambitious plan to swiftly increase their production capacity.
👉 The overall IBD Composite Rating for Tesla is 87 out of 99. In addition, Tesla has a Relative Strength Rating of 86 out of 99, and Tesla stock has outperformed 86% of all equities in the IBD database during the last year.
👉 Its Accumulation/Distribution Score is a C-minus grade. Over the previous 13 weeks, this rating examines the stock’s price and volume movements. There is a strong institutional presence if a grade of A is given.
Best Brokers for buying Tesla Shares in Nigeria
Fidelity Investments
Overall Rating
- 4.7/5
Min Deposit
$0 / 0 NGN
Regulators
SEC, FINRA
Trading Desk
Crypto
Yes
Total Pairs
–
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
👉 Commission-free online stock, ETF, and options trading is available through Fidelity Investments in the United States to traders from all around the globe, including Nigeria and other African nations.
👉 Investors and traders in Nigeria can use their unique smart trading technology and cheap transaction costs to invest in mutual funds, bonds, IPOs, metals, as well as certificates of deposit.
AvaTrade
Overall Rating
- 4.9/5
Min Deposit
USD 100 / 41450 NGN
Regulators
ASIC, FSA
Trading Desk
MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Privately held online forex and CFD broker, previously known as AvaFX, AvaTrade has offices across Europe, Asia, and the Pacific, as well as in several other nations around the world.
👉 AvaTrade is well-regulated by several different organizations, demonstrating that Nigerian traders can use this broker with confidence and that their money is secure.
Plus500
Overall Rating
- 4.9/5
Crypto
Yes (Availability subject to regulations)
Trading Fees
Low
Account Activation Time
24 Hours
👉 More than 2,000 Forex and CFD products are available for trading on proprietary trading platforms at Plus500, a multi-regulated online trading broker created in 2008.
👉 No-commission trading with tight spreads, many methods to fund your account, and a customer support staff that is accessible 24 hours a day, seven days per week are just some of the features you can expect from their service.
TD Ameritrade
Overall Rating
- 4.7/5
Min Deposit
$0 / 0 NGN
Regulators
SEC, FINRA, CFTC, MAS
Trading Desk
Metatrader 4
Crypto
Yes
Total Pairs
–
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
👉 It has been serving investors since 1975 when TD Ameritrade was created. Experts at TD Ameritrade are available to answer any questions investors may have about investing and there is a wide range of tradable markets through powerful trading technology.
👉 There are no offices of TD Ameritrade in Lagos or Nigeria, and the broker is not regulated by Nigeria’s Central Bank (CBN). However, TD Ameritrade is open to all Nigerian traders, regardless of their degree of expertise or experience.
Exness
Overall Rating
- 4.9/5
Min Deposit
USD 10 / 4145 NGN
Regulators
CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
Trading Desk
MT4, MT5, MT4 WebTerminal, mobile (iOS & Android, Exness Trader)
Crypto
Yes
Total Pairs
97
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 An international currency broker based in Cyprus, Exness has offices in the UK, Seychelles, and South Africa as well as the British Virgin Islands and Curaçao. Nymstar Limited, Tortelo Limited, and Vlerizo (Pty) Limited are some of the companies that Exness partners with to provide its services (South Africa).
👉 Many respected market regulators, including the Financial Sector Conduct Authority (FSCA), FSA, CBCS, FSC, FSC BVI, CySEC, FCA oversee Exness even though the broker is not regulated by the CBN.
👉 The worldwide brand offers a wide variety of options for retail and corporate consumers, as well as personalized financial services and investment solutions for all investors across the world.
Broker Comparison
| 🥇 Fidelity Investments | 🥇 AvaTrade | 🥇 Plus500 | 🥇 TD Ameritrade | 🥇 Exness | |
| Regulation | FINRA, SEC | CBI, BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISA | ASIC, FMA, FSCA, FCA, CySEC, FSA, MAS | SEC, SFC, FINRA | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA |
| Trading Platform | • Active Trader Pro • Fidelity Mobile | • AvaTradeGO • AvaOptions • AvaSocial • MetaTrader 4 • MetaTrader 5 • DupliTrade • ZuluTrade | • Plus500 mobile and web-based trading platform | • TD Ameritrade Web • TD Ameritrade Mobile • thinkorswim mobile • thinkorswim web | • MetaTrader 4 • MetaTrader 5 |
| Withdrawal Fee | No | No | No | No | No |
| Demo Account | Yes | Yes | Yes | Yes | Yes |
| Min Deposit | 400 NGN | 41,500 NGN | 41,600 NGN | 400 NGN | 4,100 NGN |
| Leverage | 1:1 | 1:400 | 1:30 | 1:2 | Unlimited |
| Spread | None | Fixed, from 0.9 pips | 0.8 pips | None | Variable, from 0.0 pips |
| Commissions | $0 to $0.03 | None | None | From $0 | From $0.1 per side, per lot |
| Margin Call/Stop-Out | None | 25%/10% | None | None | 60%/0% |
| Order Execution | None | Instant | None | None | Market |
| No-Deposit Bonus | No | No | No | No | No |
| Cent Accounts | No | No | No | No | Yes |
| Account Types | • Brokerage Account • Cash Management Account • Brokerage and Cash Management • The Fidelity Account for Businesses • Fidelity Go, and several others | • Standard Live Account • Professional Account Option | • Standard Live Account | • Standard Accounts • Retirement Accounts • Education Accounts • Speciality Accounts • Managed Profiles • Margin Trading Account | • Standard Account • Standard Cent Account • Raw Spread Account • Zero Account • Pro Account |
| CBN Regulation | No | No | No | No | No |
| NGN Deposits | No | No | No | No | Yes |
| Nigerian Naira Account | No | No | No | No | No |
| Customer Service Hours | 24/7 | 24/5 | 24/7 | 24/7 | 24/7 |
| Retail Investor Accounts | 15 | 1 | 1 | 2 | 5 |
| Islamic Account | No | Yes | Yes | No | Yes |
Best Mobile Apps to buy US Stocks in Nigeria
👉 The United States stock market is one of the most attractive platforms for investors despite their investment style, experience, or objective.
👉 As a Nigerian or non-US citizen, it used to be very difficult to buy and invest in United States equities. However, Nigerians can now invest in the US stock market using their smartphone, tablet, iPad, or computer, attributable to technological development and improvement.
Trove
👉 Online investing platform Trove, sometimes known as the “Trove app,” allows Nigerians to participate in both domestic and foreign financial investment possibilities. This includes stocks in the United States, China, and Nigeria.
👉 Nigerian traders can start investing in TSLA shares with a minimum deposit of 1,000 Nigerian Naira. The Trove mobile app is available to both Android and iOS phones and tablets.
Chaka
👉 Aside from the stock markets in Nigeria and the United States, Chaka also provides access to global blue-chip businesses from more than 40 nations. With Chaka, you may begin trading overseas equities for as little as $10, or N1,000 in local currency.
Rise
👉 Using the Rise app, Nigerians can get started investing in US equities from only $10 or equivalent in Nigerian Naira. With this app, Nigerians can choose to let Rise specialists manage and invest money in a portfolio of well-picked US equities instead of doing it manually.
👉 Long-term performance, growth potential, and high-quality profits all go into the stock selection process and the Rise app is offered to both Android and iOS devices.
Bamboo
👉 Online investing platform Bamboo, also known as “BamBoo Investment “, enables Nigerians to invest in over 3,000 equities listed on the US stock markets and Nigerian stock exchanges using a free mobile app.
👉 As a member of the Securities Investor Protection Corporation (SIPC), Bamboo is a reputable platform that maintains all its accounts with a top-tier US brokerage business.
👉 SEC (Security and Exchange Commission) registrations for both the United States and Nigeria are also in place for Bamboo Inc and every Bamboo account is protected by an insurance policy up to $500,000.
Frequently Asked Questions
How can Nigerians buy Tesla Shares?
Nigerians can purchase TSLA through any of the reputable, well-regulated forex and CFD brokers or through the trading apps that were discussed.
Should I invest in TSLA in 2023?
This will depend on each investor’s financial situation and long-term goals. Tesla is a popular company, but its stock is vulnerable to volatility.
How can I buy or sell Tesla shares?
You can either purchase them directly or you can trade them as a contract for difference (CFD) where you can speculate on the price movements without owning the shares.
Has Tesla ever experienced stock splits?
Yes, TSLA shares split on a 5:1 basis in 2020, which means that if you owned one share in Tesla before the split, you would have owned five shares after the split.
What makes Tesla’s business model unique?
Tesla does not sell its vehicles using franchised dealerships. Tesla operates using direct sales through international showrooms which can be found in major cities globally.
How much does it cost to start investing in Tesla?
This will depend on whether your broker sells fractional shares, allowing you to start investing with small amounts from 1,000 Nigerian Naira, and less.
