how to buy tesla stock on etoro

How to Buy Tesla Stock on eToro: 7 Easy Steps for Profitable Investing

How to Buy Tesla Stock on eToro?

Tesla is one of the most innovative and disruptive companies in the world, leading the electric vehicle revolution and transforming the energy sector. The company’s visionary founder and CEO, Elon Musk, has a loyal fan base and a knack for generating buzz and excitement around his products and projects. Tesla’s stock (TSLA) has been on a remarkable run in the past few years, reaching an all-time high of $299.29 in September 2023, and making Tesla the most valuable carmaker in the world by market capitalization.

If you are interested in investing in Tesla, you might be wondering how to buy its stock and what are the best platforms to do so. In this article, we will show you how to buy Tesla stock on eToro, one of the leading online trading platforms that offers a variety of features and benefits for traders and investors of all levels.

eToro is a multi-asset platform that allows you to trade stocks, cryptocurrencies, commodities, forex, ETFs, and more, with low fees, social trading tools, and a user-friendly interface. You can also access eToro via a mobile app, which makes it easy to trade anytime and anywhere.

Click on the above image to check the latest stock price of Tesla (TSLA).

Here are the 7 easy steps to buy Tesla stock on eToro:

Step 1: Sign up for an eToro account

The first step to buy Tesla stock on eToro is to sign up for an account on the platform. You can do this by visiting the eToro website and clicking on the “Join Now” button. You will need to provide some basic information, such as your name, email address, phone number, and password. You will also need to agree to the terms and conditions and privacy policy of eToro.

Alternatively, you can sign up using your Facebook or Google account, which will make the process faster and easier. Once you have signed up, you will receive a confirmation email from eToro with a link to verify your account.

Step 2: Complete your profile and verify your identity

The next step to buy Tesla stock on eToro is to complete your profile and verify your identity. This is required by eToro as part of its compliance with anti-money laundering (AML) and know your customer (KYC) regulations.

To complete your profile, you will need to answer some questions about your personal details, financial situation, trading experience, and risk tolerance. You will also need to upload a copy of your passport or national ID card, as well as a proof of address document, such as a bank statement or utility bill.

To verify your identity, you will need to take a selfie with your ID document and upload it to eToro. This process may take up to a few days, depending on the volume of requests. Once your identity is verified, you will be able to deposit funds into your account and start trading.

Step 3: Deposit funds into your account

The third step to buy Tesla stock on eToro is to deposit funds into your account. You can do this by clicking on the “Deposit Funds” button at the bottom left corner of the screen. You will then see a pop-up window where you can choose your preferred payment method, currency, and amount.

eToro supports a variety of payment methods, such as debit or credit card, bank wire transfer, PayPal, Skrill, Neteller, and more. The minimum deposit amount is $200 for most countries, but it may vary depending on your region and payment method.

Once you have entered your payment details and confirmed the transaction, you will see the funds reflected in your account balance. You can also view your transaction history by clicking on the “Portfolio” tab at the left side of the screen.

Step 4: Search for Tesla stock

The fourth step to buy Tesla stock on eToro is to search for the stock on the platform. You can do this by typing “Tesla” or “TSLA” in the search bar at the top of the screen. You will then see a list of results that match your query. Click on the one that says “Tesla Inc (TSLA)” under the “Stocks” category.

This will take you to the Tesla stock page, where you can see various information about the company and its performance, such as its price chart, market cap, earnings per share (EPS), price-to-earnings ratio (P/E), analyst ratings, news articles, social media posts, and more.

Step 5: Choose your trading mode

The fifth step to buy Tesla stock on eToro is to choose your trading mode. eToro offers two trading modes for stocks: CFD trading and direct ownership. CFD stands for contract for difference, which is a type of derivative that allows you to speculate on the price movements of an asset without owning it.

This means that you can trade with leverage, which means that you can amplify your profits or losses by borrowing money from eToro. You can also open short (sell) positions, which means that you can profit from the price going down. However, CFD trading also involves overnight fees, which are charged for keeping your positions open after the market closes.

Direct ownership, on the other hand, means that you actually buy and own the underlying asset, in this case, Tesla shares. This means that you can benefit from dividends, stock splits, and voting rights. You can also avoid overnight fees and leverage. However, direct ownership also involves higher minimum investment amounts and lower liquidity.

To choose your trading mode, you need to toggle the switch at the top right corner of the Tesla stock page. If the switch is blue and says “Trade”, it means that you are in CFD mode. If the switch is green and says “Buy”, it means that you are in direct ownership mode. You can switch between the two modes at any time before opening a position.

Step 6: Open a position

The sixth step to buy Tesla stock on eToro is to open a position. You can do this by clicking on the “Trade” or “Buy” button at the top right corner of the Tesla stock page, depending on your trading mode. You will then see a pop-up window where you can enter your order details, such as the amount, leverage, stop loss, take profit, and order type.

The amount is the amount of money that you want to invest in Tesla stock. You can enter it manually or use the slider to adjust it. The leverage is the ratio of borrowed money to your own money that you use to trade. You can choose from 1x (no leverage) to 5x (maximum leverage) for CFD trading.

The stop loss is the price level at which you want to close your position automatically if the price goes against you. The take profit is the price level at which you want to close your position automatically if the price goes in your favor. The order type is the type of order that you want to execute. You can choose from market order (execute at the current market price) or limit order (execute at a specified price).

Once you have entered your order details, you can click on the “Open Trade” or “Set Order” button to confirm your order. You will then see a confirmation message and your position will appear in your portfolio.

Step 7: Monitor and close your position

The seventh and final step to buy Tesla stock on eToro is to monitor and close your position. You can do this by clicking on the “Portfolio” tab at the left side of the screen. You will then see a list of all your open positions, along with their current values, profits or losses, and fees. You can also see various statistics and charts about your portfolio performance, such as your net profit, risk score, asset allocation, and more.

To close your position, you need to click on the “X” button next to the Tesla stock position. You will then see a pop-up window where you can confirm your action. Once you close your position, you will realize your profit or loss and free up your funds for other trades.

Congratulations! You have just learned how to buy Tesla stock on eToro in 7 easy steps. Now you can enjoy the benefits of investing in one of the most innovative and disruptive companies in the world with a leading online trading platform that offers low fees, social trading tools, and a user-friendly interface. Happy trading!

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Frequently Asked Questions

  • Q: What are the benefits of buying Tesla stock on eToro?

    A: Some of the benefits of buying Tesla stock on eToro are: commission-free trading, low fees, social trading tools, multi-asset platform, user-friendly interface, and mobile app.

  • Q: What are the risks of buying Tesla stock on eToro?

    A: Some of the risks of buying Tesla stock on eToro are: market volatility, leverage, overnight fees, liquidity, and regulatory changes.

  • Q: How can I learn from other traders and investors on eToro?

    A: You can learn from other traders and investors on eToro by using the social trading tools, such as the news feed, the copy trading feature, and the popular investor program.

  • Q: How can I withdraw my funds from eToro?

    A: You can withdraw your funds from eToro by clicking on the “Withdraw Funds” button at the bottom left corner of the screen. You will then need to enter the amount and the payment method that you want to use. The minimum withdrawal amount is $30 and there may be fees depending on your payment method.

  • Q: How can I contact eToro’s customer support?

    A: You can contact eToro’s customer support by clicking on the “Help” button at the bottom right corner of the screen. You will then see a pop-up window where you can choose from various options, such as live chat, phone call, email, or help center.

How do I know when to sell my Tesla stock?

There is no definitive answer to when you should sell your Tesla stock, as different investors may have different goals, risk appetites, and time horizons. However, some possible factors that could influence your decision are:

  • Your target price: You may have a specific price level that you want to sell your Tesla stock at, based on your analysis, valuation, or expectation. For example, you may want to sell when the stock reaches its quarterly risky level at $758.56 or its monthly risky level at $817.15. Alternatively, you may want to sell when the stock falls below a certain price level that indicates a loss of momentum or a change in trend. For example, you may want to sell when the stock breaks below its 50-day or 200-day simple moving averages at $647.08 and $653.84.
  • Your profit or loss: You may have a specific percentage of profit or loss that you want to lock in or cut off, depending on your risk-reward ratio and trading strategy. For example, you may want to sell when you have a 10% profit or a 5% loss on your Tesla stock position. You can use tools such as stop loss and take profit orders to automate this process and protect your capital.
  • Your portfolio diversification: You may want to sell some of your Tesla stock to rebalance your portfolio and maintain a healthy diversification among different asset classes, sectors, and industries. For example, you may want to sell some of your Tesla stock if it becomes too dominant in your portfolio or if you want to invest in other opportunities that offer better returns or lower risks.
  • The market conditions: You may want to sell your Tesla stock based on the overall market conditions and sentiment, such as economic indicators, earnings reports, news events, and technical signals. For example, you may want to sell your Tesla stock if the market is in a bearish trend or if there is a negative catalyst that affects the company or the industry.
  • Your personal circumstances: You may want to sell your Tesla stock based on your personal circumstances and needs, such as your financial goals, liquidity requirements, tax implications, and life events. For example, you may want to sell your Tesla stock if you need cash for an emergency, a major purchase, or a retirement plan.

These are just some examples of the factors that could influence your decision to sell your Tesla stock. Ultimately, the best time to sell is when you are comfortable with your profit or loss and when you have a clear reason to do so.

You should always do your own research and analysis before making any trading decisions and consult a professional financial advisor if necessary. Happy trading!

What is the difference between eToro and other trading platforms?

The difference between eToro and other trading platforms depends on various factors, such as the types of assets, fees, features, and availability. Here are some general points of comparison:

  • eToro is one of the few platforms that offers social trading and copy trading, which allow you to follow and copy the trades of other investors. You can also interact with other traders on the platform through a social news feed. Other platforms may not have these features or may have them only for certain assets or regions.
  • eToro offers zero-commission trading for stocks and ETFs, which means that you do not pay any fees when you buy or sell these assets. Other platforms may charge commissions or spreads for these assets, which can reduce your profits.
  • eToro has a multi-asset platform that allows you to trade stocks, cryptocurrencies, commodities, forex, ETFs, and more. Other platforms may specialize in one or a few types of assets, which may limit your investment options.
  • eToro has a user-friendly interface and a mobile app that make it easy to trade anytime and anywhere. Other platforms may have more complex or less intuitive interfaces or may not have a mobile app at all.
  • eToro has some drawbacks compared to other platforms, such as a $5 withdrawal fee, a cumbersome crypto withdrawal process, and limited availability of some features in some regions. Other platforms may have lower fees, faster withdrawals, and wider availability of features.

These are just some examples of the difference between eToro and other trading platforms. You can find more detailed comparisons by visiting the websites of the platforms or reading online reviews. You can also use the search_web tool to find more information about eToro and its alternatives.

Disclaimer: This article is for informational and educational purposes only and does not constitute financial, investment, or trading advice. Trading involves risks and you may lose money. You should always do your own research and analysis before making any trading decisions and consult a professional financial advisor if necessary. eToro is a multi-asset platform that offers both investing in stocks and cryptoassets, as well as trading CFDs. Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider.

You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Cryptoassets are volatile instruments that can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework. eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this article, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. Your capital is at risk. Past performance is not an indication of future results.

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