Want to hop on the electric vehicle revolution and invest in Tesla (TSLA) shares through FNB? You're in the right place! Buying international shares can seem a bit daunting, but FNB offers various avenues to make it possible. This comprehensive guide will walk you through the process, step by step, so you can confidently add a piece of Elon Musk's vision to your portfolio.
Step 1: Understand Your Options with FNB
Before you dive in, it's crucial to understand how FNB facilitates international share trading. FNB offers a few ways to get exposure to global companies like Tesla.
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| How To Buy Tesla Shares Fnb |
1.1 FNB Global Trader Account
This is likely your most direct route to buying actual Tesla shares. The FNB Global Trader account allows you to trade independently in global markets. It's a full-service platform for those who want direct ownership of international stocks.
1.2 FNB ETNs (Exchange Traded Notes) on International Companies ⚡
FNB also offers Exchange Traded Notes (ETNs) that track the performance of major international companies, including Tesla. The benefit here is that you get exposure to Tesla's performance without directly buying the share offshore. These are locally listed instruments, which can simplify the process, particularly regarding currency conversions and offshore investment limits. You can choose whether to invest with or without currency exposure (the "Q" suffix on the ETN usually means no currency exposure, while "C" means you have currency exposure).
1.3 EasyEquities (FNB's Partnership)
FNB has a partnership with EasyEquities, a platform known for its low fees and fractional share investing. While not directly an FNB platform, if you're an FNB client, you can link your FNB accounts to EasyEquities, making funding and management straightforward. EasyEquities allows you to buy fractional shares of US stocks like Tesla, meaning you can start investing with smaller amounts.
Step 2: Open the Right Investment Account
Now that you know your options, let's get you set up with the correct account.
2.1 Opening an FNB Global Trader Account
This is for direct international share ownership.
QuickTip: Read actively, not passively.
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Online Banking: Log in to your FNB Online Banking.
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Navigate to 'Invest': Look for the "Invest" or "Share Portfolio" section.
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Select 'Open a Share Portfolio account': Then choose 'Global Trader'.
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Redirection: You'll likely be redirected to the FNB Stockbroking and Portfolio Management website to complete the application.
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Mandate and Professional Status: You'll need to select the type of mandate (e.g., self-directed) and whether you are a "professional" or "non-professional" investor.
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FICA Documentation: Be prepared to provide FICA documentation (Proof of Identity, Proof of Residence) if FNB doesn't already have your valid documents.
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Account Activation: Your account should typically be opened within 3-4 working days, and you'll receive a welcome message.
Initial deposit for the FNB Global Trader platform is recommended to be around $10,000 USD.
2.2 Investing in FNB ETNs via FNB Share Investing Account
If you prefer the ETN route, you'll generally use your existing FNB Share Investing account (Share Saver, Share Builder, or Share Investor) or open one.
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Log in to FNB Online Banking: Access your banking profile.
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Navigate to 'Invest': Find the share investing section.
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Open an Account (if you don't have one): If you don't have a Share Investing account, you can open a "Share Builder" or "Share Investor" account. FNB also offers a "Shares Zero Account" with no monthly fees for investing in certain ETFs and ETNs.
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Qualifying Criteria: Generally, you need to be an SA citizen, 18 years or older, and have a qualifying FNB account.
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Documents Needed: South African ID book/card and proof of residence.
2.3 Using EasyEquities (if preferred)
If you choose EasyEquities for its fractional shares and low fees:
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Download the EasyEquities App: It's available on major app stores.
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Sign Up/Log In: Create an account if you don't have one, or log in if you do.
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Link FNB Account: EasyEquities allows you to link your FNB bank account for easy funding.
Step 3: Fund Your Investment Account
This is where you'll get the capital ready to buy your Tesla shares. The funding process differs depending on your chosen account.
3.1 Funding Your FNB Global Trader Account
Funding this account involves converting ZAR to the foreign currency (USD for Tesla).
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Offshore Limit: You can utilise your single discretionary allowance of R1 million per annum (without SARS approval) or apply to SARS for tax clearance to transfer up to a maximum of R10 million for offshore investment.
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Transfer via Local Trader Account: For FNB-banked clients, funds usually need to be transferred from your FNB Local Trader account to your Global Trader account. Direct transfers into your Global Trader account aren't typically available.
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Navigate to 'My Portfolio' > 'Global Trader'.
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Select 'Manage My GTP Cash'.
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Select 'Deposit cash'.
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Choose 'FNB Securities will transfer the funds from my Local Trader account to the Global Trader account' and complete the template.
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Direct Deposit (if you have an offshore account): If you have an existing offshore bank account, you can directly deposit funds into your Global Trader account in the base currency (USD).
3.2 Funding Your FNB Share Investing Account (for ETNs)
Funding for ETNs is simpler as it's typically done in ZAR.
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Link your FNB Bank Account: Ensure your FNB bank account is linked to your Share Investing account.
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Transfer Funds: You can transfer funds directly from your FNB current or savings account to your Share Investing account through online banking or the FNB App.
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Minimums: Be aware of any minimum deposit amounts for your chosen Share Investing account (e.g., Share Builder might have a R100 minimum deposit).
3.3 Funding Your EasyEquities Account
QuickTip: Copy useful snippets to a notes app.
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EFT/Debit Order: You can make an Electronic Funds Transfer (EFT) from your FNB account to your EasyEquities ZAR account, or set up a recurring debit order.
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Credit Card/Instant EFT: EasyEquities often supports instant EFT or credit card deposits, which might be faster.
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Converting ZAR to USD (on EasyEquities): Once your ZAR funds are in your EasyEquities account, you'll need to convert them to USD within the platform to buy US shares like Tesla. EasyEquities makes this process quite user-friendly.
Step 4: Place Your Order for Tesla Shares
This is the exciting part!
4.1 Buying Tesla Shares via FNB Global Trader
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Launch Global Trader: From your FNB Online Banking, navigate to 'Invest' > 'Share Portfolio', select your Global Trader account, and accept the redirect to shares.fnb.co.za.
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Search for Tesla: In the Global Trader platform, look for a "Find Instrument" or "Search" bar. Type in "TSLA" (Tesla's ticker symbol).
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Select 'Trade': Once you find Tesla, select the "Trade" option.
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Specify Trade Type:
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Market Order: This buys shares at the current best available price. It's quick but the price might fluctuate slightly.
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Limit Order: This allows you to specify the maximum price you're willing to pay per share. Your order will only execute if the share reaches that price or lower. This gives you more control over the entry price.
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Enter Number of Shares: Decide how many Tesla shares you want to buy.
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Trade Duration: Select a duration for your order (e.g., "Good Till Cancelled" (GTC), "Day Order").
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Confirm: Review all the details of your order (share, quantity, price, fees) and click "Confirm" to place the order.
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Execution: Orders are typically executed during market hours (09h00 to 17h00 for FNB in SA, but remember US market hours differ – typically 9:30 AM to 4:00 PM EST).
4.2 Buying FNB ETN on TESLA via FNB Share Investing
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Log in: Access your FNB Share Investing account (online banking or app).
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Search for the ETN: Look for the specific Tesla ETN ticker. It might be something like TSETNQJ (for Tesla ETN, no currency exposure) or TSETNCJ (for Tesla ETN with currency exposure). You can usually find this information on the FNB Share Investing website or by searching within the platform.
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Select 'Buy': Choose the buy option for the relevant Tesla ETN.
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Enter Amount or Number of Units: Specify how much you want to invest or how many ETN units you wish to purchase.
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Review and Confirm: Check the details and confirm your purchase.
4.3 Buying Tesla Shares via EasyEquities
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Log in to EasyEquities: Access your account on the app or website.
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Fund your USD account (if not already done): If you funded in ZAR, convert the desired amount to USD within the EasyEquities platform.
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Search for Tesla: Use the search bar to find "TSLA" (Tesla Inc.).
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Enter Amount/Shares: You can choose to buy a specific number of shares or invest a specific amount (e.g., $100 worth of Tesla), which is where fractional investing comes in handy.
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Review and Buy: Confirm the details and execute your trade.
Step 5: Monitor Your Investment and Understand Fees
Once you've purchased your Tesla shares or ETNs, the journey doesn't end there!
5.1 Monitoring Your Portfolio
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FNB Platforms: You can monitor your investments directly through your FNB Online Banking under the "Invest" section or on the FNB Stockbroking website.
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EasyEquities: The EasyEquities app and website provide a user-friendly dashboard to track your portfolio's performance.
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Stay Informed: Regularly check financial news, Tesla's company announcements, and market trends to stay updated on your investment.
5.2 Understanding the Costs
Fees are an important consideration as they can impact your overall returns.
Tip: Read slowly to catch the finer details.
FNB Global Trader Fees:
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Brokerage Fees: These vary depending on the platform and trade size.
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Custody Fees: Fees for holding your shares.
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Currency Conversion Fees: When converting ZAR to USD for international trades.
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Platform Fees: Monthly or annual fees for maintaining the account.
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Regulatory Fees: Such as Securities Transfer Tax (STT) on buy transactions, Investor Protection Levy, and STRATE fees.
FNB Share Investing (for ETNs) Fees:
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Account Fees: Such as the R19/month for Share Builder or R49/month for Share Investor. FNB Shares Zero Account has no monthly fees.
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Brokerage/Trading Fees: For Share Builder, it's an all-inclusive 2% (excl. VAT) per trade (minimum R50 excl. VAT). For Share Investor, it's 0.6% (excl. VAT) or a minimum of R80 (excl. VAT) per trade. When investing in FNB or Ashburton ETFs and ETNs via Shares Zero, clients may pay no brokerage fees.
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Securities Transfer Tax (STT): 0.25% on buy transactions.
EasyEquities Fees:
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Brokerage: Known for low brokerage fees, often a percentage of the trade value.
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Currency Conversion: A small fee for converting ZAR to USD.
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Deposit/Withdrawal Fees: Generally minimal or non-existent for standard transfers.
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No Minimums: A significant advantage is that EasyEquities generally has no minimum investment amounts, allowing you to invest small sums.
Always refer to the latest FNB and EasyEquities pricing guides on their respective websites for the most accurate and up-to-date fee structures.
10 Related FAQ Questions
How to choose between FNB Global Trader, FNB ETNs, and EasyEquities for Tesla shares?
Choose FNB Global Trader if you want direct ownership of US-listed Tesla shares and are comfortable with higher initial deposits and managing offshore investments. Opt for FNB ETNs if you prefer exposure to Tesla's performance via a locally listed instrument, simplifying currency and offshore allowance management. Go with EasyEquities if you want to start investing with smaller amounts, buy fractional shares, and appreciate a user-friendly, lower-fee platform, especially if you're already an FNB client.
How to fund my FNB Global Trader account to buy Tesla shares?
You can fund your FNB Global Trader account by converting ZAR to USD using your R1 million annual single discretionary allowance or by applying to SARS for a higher offshore allowance (up to R10 million). Funds are typically transferred from your FNB Local Trader account to your Global Trader account.
How to find the Tesla ETN ticker symbol on FNB?
You'll need to search the FNB Share Investing platform or their website for the specific ETN ticker related to Tesla. It's often something like TSETNQJ (no currency exposure) or TSETNCJ (with currency exposure).
Reminder: Focus on key sentences in each paragraph.
How to deal with currency conversion when buying Tesla shares through FNB?
If using FNB Global Trader, you'll need to convert ZAR to USD within the platform or through your FNB forex services. If using FNB ETNs, the currency exposure depends on the specific ETN you choose (some are ZAR-denominated, others track USD performance). EasyEquities offers in-platform currency conversion from ZAR to USD.
How to set a limit order for Tesla shares on FNB Global Trader?
When placing a trade on FNB Global Trader, select "Limit Order" as your trade type. You'll then be prompted to enter the specific maximum price per share you are willing to pay for Tesla.
How to check the status of my Tesla share order on FNB?
You can check the status of your order by logging into your FNB Online Banking, navigating to your Share Portfolio, and looking for your orders or trade history within the FNB Global Trader or Share Investing platform.
How to sell my Tesla shares bought through FNB?
The process for selling is similar to buying. Log in to your FNB Global Trader or Share Investing account, select the Tesla shares/ETNs you wish to sell, choose "Sell," specify the quantity, choose your order type (market or limit), and confirm the transaction.
How to access research and insights on Tesla through FNB's platforms?
FNB's investment platforms often provide market information, company news, and potentially analyst ratings for listed shares and ETNs. Look for sections like "Research," "Market Info," or "Company Profile" within your chosen FNB investment platform.
How to understand the fees associated with buying Tesla shares via FNB?
Review the detailed pricing guides available on the FNB Stockbroking and Share Investing websites. Key fees include brokerage, custody fees, currency conversion fees (for global trader), account fees, and regulatory charges like STT.
How to get help if I encounter issues buying Tesla shares with FNB?
You can contact FNB's client services helpdesk for share investing. Their general number is 0860 SHARES (0860 742 737) during office hours. For EasyEquities, you would contact their dedicated support channels.
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