How to Buy Tesla (TSLA) Stock on eToro?

Table of contents:

1. Introduction to eToro – An Excellent Broker for Beginners 2. About Tesla (TSLA) 3. How to Buy Tesla (TSLA) Stock or Shares on eToro Step 1 – Create an Account on eToro  Step 2 – Completing Your eToro User Profile  Step 3 – Verifying Your Identity   Step 4 – Funding Your eToro Account Step 5 – Buy Your First Shares of Tesla Stock  Step 6 – Monitor Your Tesla Investment 4. Final Words 5. Frequently Asked Questions (FAQs)

Introduction to eToro – An Excellent Broker for Beginners

eToro is an online social trading brokerage platform used by over 30 million registered users globally. You can use this platform to invest in stocks, ETFs, cryptocurrencies, currencies, commodities, and more. You will learn how to buy Tesla (TSLA) stock or shares on eToro later in this article. The platform offers an intuitive interface packed with innovative features, especially for less experienced investors.

Here’s why eToro stands out:

• Inexpensive Trading: The platform charges $0 commission on stock and ETF trades. Additionally, low trading fees on other assets make eToro less costly than traditional brokers.

• Easy to Use Platform: eToro’s web and mobile interfaces focus heavily on simplicity and ease of use. Both beginners and experienced investors can easily use this platform. 

• Social Trading Features: Through eToro’s social trading features, you can learn from fellow traders. You can follow their strategies, engage in discussions about investments, and even copy their trades. 

• Diverse Asset Selection: With offerings spanning stocks, cryptocurrencies, commodities, and more, eToro empowers users to build a well-rounded and diversified investment portfolio.

• Regulation and Security: As a platform regulated by top-tier financial authorities, eToro ensures a secure and trustworthy environment for users, enhancing confidence in their investment activities.

• Educational Resources: eToro provides a wealth of educational materials, webinars, and market analyses, equipping users with the knowledge needed to make informed and strategic investment decisions.

CopyTrader feature of eToro allows you to automatically copy top traders’ portfolios and strategies, taking the guesswork out of investing. In the “Copy People” section, traders are categorized by risk level, enabling users to align with their preferred trading strategy. Detailed statistics on individual traders, including performance and portfolio changes, aid in informed decision-making. Users can copy up to 100 traders simultaneously, with a minimum investment of $200 per trader.

Between its social elements and educational resources, eToro empowers both experienced and beginner traders. Opening an account to buy your first stocks is fast and simple.

About Tesla

Tesla remains one of the most popular and exciting companies to invest in for good reason. Its attractive electric vehicle (EV) lineup including the Model S, Model 3, Model X, Model Y, and Cybertruck, along with its cutting-edge battery technology, self-driving software, solar products, and supercharger network make Tesla a compelling long-term investment. 

Led by CEO Elon Musk, Tesla is often described as an extremely innovative technology company that happens to produce electric cars. Its advances in artificial intelligence, computer vision, and energy storage solutions mean its ambitions extend far beyond just manufacturing vehicles. With many future innovations in the pipeline, it’s hard to imagine a world 20 years from now where Tesla isn’t a dominant massive global company.

So for investors who believe in Musk’s vision and want exposure to electric vehicle technology as the future of sustainable transport, owning Tesla stock likely deserves serious consideration. 

Buy Tesla Stock on eToro

eToro makes the process of buying Tesla stock straightforward with the following steps:

Step 1 – Create an Account on eToro 

The first step towards investing in stocks on eToro is setting up your account. This foundational stage will enable important functionality for securely accessing the platform.  

Follow this straightforward 3-step process:

1. Navigate to www.etoro.com and click the prominent “Join Now” or “Sign Up” button. This will open the new account form.
2. Enter your valid email address and create a strong password combining upper and lowercase letters with numbers and symbols. Adding extra characters makes passwords tougher to crack.  
3. Provide your full name, home address, phone number, and date of birth. Supplying accurate personal information allows seamless identity verification.  

Alternatively, you can speed up registration using your existing Google or Facebook login credentials if you prefer single sign-on convenience.  

Step 2 – Completing Your eToro User Profile 

Now it’s time to flesh out your eToro account details within user profile settings. Supplying specific details here assists eToro in better understanding your financial situation, objectives, and readiness for the platform’s full features.  

Be sure to thoroughly fill out the following core profile components:

• Personal Details – Confirm home address and contact info
• About Me – Share investing experience level, goals, styles
• Income Source – List sources and ranges helping assess risk capacity
• Net Worth – Specify totals across assets, helping detail risk tolerance

Completing your user profile thoroughly is an eToro regulatory requirement for subsequent account approval. Accurate responses also tailor your experience by unlocking appropriate education resources and suggested investments matching your interests, experience level, and risk appetite.

Step 3 – Verifying Your Identity  

As a financial services platform, eToro must comply with strict regulatory identity verification rules governing securities trading accounts – referred to as KYC (Know Your Customer) and AML (Anti-Money Laundering) policies.  

You’ll need to submit the following documentation containing personal information proving you are who you claim to be:

• Government-Issued ID – It may be ypically a passport or driver’s license containing your photograph and identifying details including full legal name, birthdate, nationality, and address. 

• Proof of Address – It can be a current utility bill, bank statement, or government letter displaying your full name and physical address.  

Submitting current, authentic documentation helps speed the verification process to just hours or 1-2 days typically. Once approved, you’ll gain full access to deposit funds and start trading!

Step 4 – Funding Your eToro Account

Once your eToro account is fully verified, it’s time to fund it so you can start investing in stocks. You’ll need to make an initial deposit which gives you purchasing power for trades.

eToro supports various deposit methods with unique benefits, fees, and processing times. Choose which works optimally for your needs:

• Debit/Credit Cards – This is a convenient funding source linking directly to your bank. Funding accounts with Debit/Credit cards reflect your deposits instantly. However, transaction fees are higher, around 3.5%.

• Bank Transfer – This funding method takes 1-2 business days to settle. Link your checking account for easy repeat transfers.  

• e-Wallets: Accepting deposits via popular e-wallets such as PayPal, Skrill, and Neteller, providing a convenient option for users who prefer digital payment methods.

• Online Banking: Partnering with various online banking services, eToro ensures secure and convenient deposit options for users.

Initially start with small, incremental deposits like $100 to gain experience before committing larger amounts. Fund just enough to purchase the assets you want rather than leaving excessive idle cash.

Step 5 – Buy Your First Shares of TSLA on eToro

Once sufficient funds are deposited into your eToro account, you can begin trading assets starting with mega-cap innovator Tesla Inc. 

Use the search bar to look up “Tesla” or its stock ticker symbol TSLA. 

The results page aggregates useful details like price charts, financial ratios, headlines driving share movements, discussions from other TSLA investors, and more. Spend time thoroughly analyzing the available data and community perspectives to make informed decisions.

When ready, click the blue “Trade” button. This opens an order ticket where you can set all parameters to buy your first Tesla (TSLA) stock on eToro:

• Investment Amount – Specify in dollars how much capital you wish to allocate towards buying TSLA shares. Assess your risk appetite and potential downside scenario before committing funds.

• Order Type – For fastest execution select “Market” order which purchases Tesla stock at current prices immediately. “Limit” orders let you specify a maximum price target. 

• Leverage – As a new investor, keep leverage at the default 1x setting to avoid amplified risks from borrowed capital.  

• Stop Loss – Optionally set an automatic sell trigger at X% below purchase price to cap maximum loss exposure if TSLA shares fall.

• Take Profit – Consider locking in gains by selling automatically if TSLA hits a predefined price target above the entry price.

Carefully review order details before submitting to buy your first Tesla stock on eToro! Then monitor daily price movements and news events influencing performance.

Over time, redistribute capital across other stocks and assets to prudently diversify.

Step 6 – Monitor Your Tesla Investment

After you buy Tesla (TSLA) shares, go to your eToro portfolio page to check the investment’s performance. This section shows real-time data like current valuation, profit/loss amount, price history charts, related news, and analyst ratings. You can also update stop losses and take profit triggers to automatically sell if the price hits set thresholds. 

To manually close your TSLA position, click the “X” icon next to the listing. Consistently monitoring metrics allows you to evolve strategy and maximize returns over time as an investor.

Final Words

Buying your first shares of Tesla on eToro marks a major milestone in your investing journey. As you monitor performance daily and make data-driven decisions, remember that building long-term wealth requires patience, discipline, and continuous learning. Allow your strategies to evolve just as Tesla continues innovating rapidly.

While investing independently makes sense initially, don’t be afraid to leverage eToro’s powerful social features like CopyTrader later which remove guesswork by automatically mirroring proven portfolios. Smart traders combine their personal judgments with wisdom from the collective crowd.

Frequently Asked Questions (FAQs)