When discussing revolutionary and innovative technology companies in the modern era, Tesla is often part of that discussion. Tesla has revolutionized the electric car segment by turning an ordinary car into a supercar. It has realized the potential of electric cars by tapping the luxury segment and competing with renowned luxury brands of the auto world, such as Mercedes or BMW.
As a result, the stock price of Tesla has seen a stupendous rise since its IPO. eToro is one of the leading platforms that offer you the option to purchase and sell Tesla stocks. Do you want to know how to buy Tesla stock on eToro?
Follow our comprehensive guide and learn how to create an account on eToro, deposit money, and buy & sell Tesla Stocks.
More than 15 years ago, in 2017, eToro started its journey in the financial markets by becoming one of the largest investment platforms worldwide. They are one of the industry’s leaders, offering online trading and investment opportunities.
They currently boast over 20 million registered users on their platform and provide a simple and affordable way to buy and sell stocks and ETFs. The platform is extremely feature-rich and provides the option to trade in multiple asset classes.
Let us have a glance over some of the features and benefits of eToro:
Advantage of eToro | Disadvantages of eToro |
1. Huge Selection of over 3000 stocks from 17 exchanges are available to buy and sell. | 1. If Non-USD Deposits are made, then FX fees apply |
2. eToro users own the underlying asset they bought. | 2. There is a high withdrawal fee of $5 |
3. eToro offers dividend yield to its users. | 3. A monthly High Inactivity Fee of $10 is charged if a user doesn’t log in for 12 months. |
4. One can trade with as low as $10 in the USA and $50 to $200 in most other countries |
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5. They offer the option to buy fractional shares. |
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6. They are one of the most trustworthy online trading platforms. They follow SEC and FINRA regulations in the USA. |
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7. Apart from no commission being charged, the fees that are applicable in certain cases are very competitive. |
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8. They also provide a wallet called eToroX for cryptocurrencies |
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STEP 1: Create an account on eToro
To create an account on the eToro platform, you must visit eToro official website, www.etoro.com, and click on the “Start Investing” button to sign up for a new account.
Once you click on that button, it will lead you to the signup page, where you will find a lot 3 options:
Tip: If you have previously created an account with eToro, click on the “Login” button on the top right of the homepage to log into your account.
Choose your preferred option and enter the details
Option 1 (Google) & Option 2 (Facebook)
For Google and Facebook, as soon as you click the respective button, a window will open, and you will have to provide the relevant Google or Facebook account with which you would like to sign up and complete the process.
After connecting your Google or Facebook account, a page will open where you need to enter a username, check the T&C and Privacy Policy boxes, click “Create Account,” and complete the account creation process.
Option 3 (Custom Email)
If you have chosen the option of entering the email id manually, then after entering the details, check the Terms & Conditions and Privacy Policy boxes and click the “Create Account” button to proceed.
Once the account is created, it will lead to the eToro dashboard. If you just want to navigate the platform and look at all the features and what the platform offers, then only signing up with the email id is enough. But, if you want to deposit money and trade, proceed to Step 2 to verify your account.
Virtual Account for Paper Trading
eToro also provides the option to do paper trading through a virtual account. Just follow the steps to access the virtual account and the corresponding virtual amount of $100,000.
STEP 2: Complete your profile and verify your eToro account
You need to complete your profile to deposit money and remove any limitations on the amount to be deposited. The verification must be completed to trade as per the AML and CTF regulations.
Before completing the profile, you need to keep the following things ready.
1. A Government issued id – It should have the following details
2. An active phone number
3. Proof of Address: The following are accepted.
Let us now look at the Verification Process.
Click the “Complete Profile” button below your username on the left navigation panel to complete your profile.
A page with a “Continue” button pops up as you click on the button. Click on it.
Now, it will ask you to fill up your details, submit the documents, and wait for them to be verified.
Note: The details may take several days to be checked and verified. Once the verification is complete, a green checkmark will appear beside your username in the navigation panel on the left.
STEP 3: Fund your eToro account by depositing money
Once the account is verified, there will be no limitations, and you can deposit as much money as you want and trade whatever asset you want.
Let us check the process of depositing money.
Open the eToro dashboard and click the “Deposit Funds” button on the left navigation panel.
As the button is clicked, a popup window called “Fund Your Account” opens where you need to provide the personal details, the amount you want to deposit and then choose the payment method from the dropdown menu
Note: US residents need to deposit only $10 to start trading on eToro. Other popular places, including UK and Australia, need to deposit a minimum of $50. Then most other countries have to deposit between $100 to $200 except for the few who need to deposit $1000 to $10,000.
Once you choose your preferred option, fill up the necessary card or bank details and complete the payment process by clicking the “Deposit” button. Once the transfer is complete, the amount will reflect in your eToro account.
STEP 4: Buy Tesla Stock on eToro
So, now your account is verified, and you have funded your account. You are ready to buy Tesla shares on the platform.
Now, go to the search bar on the top and type Tesla or the ticker “TSLA” Then a popup box appears with Tesla’s name.
When you click on the TSLA ticker, a dedicated page for Tesla opens. This page contains all the stock details and a price chart.
This page separates internal tabs with the following:
As eToro provides many educational resources, you can study the Tesla charts and do a Fundamental Analysis by reading about the company details, previous year’s balance sheet, and cash flow statements. eToro also provides its expert analysis for customers who have deposited funds.
As for any investor or trader, thorough research is needed before making investment decisions. With the help of all the necessary information and the latest news about the company collated and available at the same place, it becomes easier for users to conduct thorough research and take an informed decision.
You can add the stock to an existing watchlist or create a new watchlist with a list of stocks you are interested in. Click on the “Add to Watchlist” button to add Tesla to the watchlist.
Once you decide to use your funds to buy Tesla stock, click the “Invest” button on the top right.
As soon as you click, a page shows you two options to buy Tesla stocks.
Option 1: At the Market Rate
In this case, you just need to enter the amount in dollars or number of units you want to invest in buying the Tesla stocks and click the “Set Order” button.
The stock will immediately be bought at the market price by eToro, reflected in your account, and shown in your investment portfolio.
If you don’t want to buy at market price and set your desired price, you can do so by clicking on the “Rate” button and entering the price of one share.
So, for example, at the time of writing, the price of a Tesla Stock is $174.57, and I have decided to set the price at $173.50 and the amount as $10,000. It means if the price of the Tesla stock hits $173.50, eToro will execute the order at that price and buy $10,000 worth of Tesla shares @ $173.50 per share.
The order will not be executed until it reaches the set price target. The order can be modified or canceled before it gets executed.
Step 5: Monitor the trade until the execution
The stock will appear immediately under your portfolio section if bought at the market rate.
Click the Portfolio button on the left navigation panel to access your portfolio.
If you have placed an order at a custom market price, the order will reflect as “Pending” in the portfolio section and only be executed at the set price.
You can modify the order by changing the Take Profit and Stop Loss Level in this section or setting the leverage.
If you have placed the order when trading is closed, all trades will start executing as the market opens and show up in your portfolio as “Pending Open” below the respective stock name.
Also, once the stock is in your portfolio, you can click on Trade and sell the existing stocks.
To buy more Tesla stocks, repeat the process.
The answer is YES. It is one of the main benefits of using the eToro stock trading platform. When you purchase any stock, be it Tesla or Apple, you own it as you buy the underlying asset.
However, in some cases, for some foreign exchanges such as eToro Australia or Italian exchange Borsa Italiana, the Finnish or Swedish exchange, i.e., Helsinki Stock Exchange or Stockholm Stock Exchange, etc., then you are purchasing CFDs.
CFDs or Contracts for Differences let you trade on the stock’s price movements. If you have a CFD stock position, you own the contract, not the actual stock.
One of the primary features of eToro is its diversified services. It is also popular as a platform that promotes social trading and offers social features.
Copy trading is one of those social trading features when a user copies the trades of another user. Usually, a nominal service fee is charged and given to the trader whose trade you are copying.
eToro also provides a dedicated section for copy trading. You can head over to the “Discover” button on the navigation panel on the left and then click.
As you click it, the page loads, and as you scroll down, you will see the section on copy traders. You can also click on Copy People on the navigation panel to access the traders.
You can click on them and check their profile, trades, and holdings.
After analyzing, if you want, you can copy the trader by clicking on the “Copy” button and taking the same positions as them.
You can copy 100 traders at a time, and the minimum deposit for each trader is a minimum of $200.
Learn How To:
Tesla is an automobile company that manufactures electric vehicles. Martin Eberhard and Marc Tarpenning launched the company as Tesla Motors in 2003.
Nicolas Tesla, the famous scientist who made huge contributions to electromagnetism, inspired them. Hence, they paid their tribute by naming the company after him.
In 2004, the founders were looking for investment, and then one of the richest men on Earth, Elon Musk, invested $6.5 million into Tesla.
In 2008, he became the CEO of Tesla and has continued in that role to date. Elon Musk’s involvement and charismatic image have created a cult status for Tesla as a brand.
Tesla produces some of the best electric vehicles around the world. They also became immensely popular for their self-driving mechanism.
Some of their most popular models are Model X, Model S, and Model Y. Model S Plaid trim variant is the most expensive Tesla at around $131,440.
Tesla has been one of the best-performing stocks with exceptional financial performance in the S&P 500 over the last decade. Although S&P 500 saw a return of 183% in the last decade, Tesla’s performance has surpassed way beyond that.
Tesla released its IPO in 2010 at a share price of $17, but since then, Tesla has undergone a 5-for-1 stock split and a 3-for-1 stock split in 2020 and 2022, respectively. Hence, after the splits, the adjusted stock price would stand at $1.13 per share.
So, if an investor had put $10,000 into Tesla at the time of IPO, he would own 588 shares (excluding fractional shares and other expenses). But, when you consider the stock splits, an investor who invested $10,000 on the debut date of Tesla IPO would have approx. 8820 shares today.
The stock market has dropped significantly due to several macroeconomic factors.
Even though Tesla has undergone a huge drop of almost 75% from its all-time high of $414.50 in Nov. 2021, it still trades at around $175 at the time of writing. So, that would mean that the investor would have made $1,543,500, i.e., an increase of 15,435 %.
Given the growing demand for green energy and electric cars, Tesla will surely record strong growth in the coming years, boosting the other automotive stocks. Hence, the return is likely to grow even further.
Read More:
YES, Tesla ($TSLA) is available on eToro for trading. You can view Tesla’s share price and buy Tesla Motors, Inc. Stocks.
There are many platforms to buy Tesla stock. The best option eToro. It provides a simple interface with loads of features and commission-free stocks. It also offers leverage trading of all the popular stocks with CFD. It is the number one choice for Tesla Stock and many other assets.
No, you cannot buy stocks directly from Tesla. You can only buy Tesla stocks through a brokerage account. Retail investors have multiple options, but eToro is one of the best online brokers to buy Tesla stocks.
Tesla is available for trading on the NASDAQ Stock Exchange.
Read More:
If you want to invest in different assets and need a trustworthy platform to trade different asset classes, then eToro is one of the best options. It offers various other features such as in-depth analysis, a huge array of different stocks, leverage trading, and copy trading.
So, if you are a beginner investor and have decided to buy Tesla stock on the eToro trading platform, just go for it. Always do thorough research and consult experts before spending any money, and always invest as per your risk tolerance and what you can afford to lose.
Disclaimer: All the information presented in the article has been collected independently by BitMoneyAlpha and has not been reviewed or approved by Tesla or eToro. The product information may vary. Please check their websites for the latest information. The statements and opinions expressed in this article belong to the author and do not necessarily represent the views or opinions of any company or stock issuer. The content is for informational purposes only. It is not financial advice. So, before investing in Tesla stock, do your due diligence and always invest what you are comfortable losing, as all investments are your responsibility.
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