How do I buy Tesla stock on eToro?

Written by Nadav Zelver

Reviewed by Wikitoro Team

1. Introduction to eToro and Tesla Stock

When I first heard of eToro, it was amidst buzzing conversations about Tesla's skyrocketing stock. Curious, I embarked on my journey to invest. Here's how my experience panned out and some insider tips I picked up along the way.

2. Setting up an eToro Account

Signing up was smoother than I anticipated. I:

• Visited eToro's website and clicked on "Sign Up".
• Filled out my details, and it felt secured.
• Submitted my photo ID and a utility bill. It was nerve-wracking waiting, but the verification email came in just two days!

3. Funding Your eToro Account

Navigating through the platform, I decided to fund my account.

• Went straight to "Deposit Funds".
• Chose the bank transfer method. In hindsight, PayPal might've been quicker!
• Tip: Keep an eye out for fees, but luckily, my deposit was free.

4. Searching for Tesla Stock on eToro

This was the thrilling part:

• Typed "Tesla" in the search bar.
• Upon clicking, I immersed myself in its stats – it's essential to know what you're diving into.

5. Buying Tesla Stock: My Step-by-Step Experience

I was a bundle of nerves but here’s how I did it:

• Clicked "Trade" on Tesla's page.
• Set my investment amount, after much contemplation.
• Opted for a market order, though limit orders offer more control.
• "Open Trade" was my final step into the world of Tesla stockholders.

6. Leveraged Trading and CFDs on eToro

I came across the leveraged trading option. It's tempting, as it amplifies potential gains, but it's a double-edged sword. I stayed away for now but it’s there if you're feeling adventurous.

7. Setting Stop Loss and Take Profit Points

A friend advised me on this, and I’m passing it on:

• "Stop Loss" is your safety net. I set mine to limit potential heartbreaks.
• I also set a "Take Profit" point – because dreams are essential, right?

8. Monitoring My Investment

Every morning, with coffee in hand:

• I head to the "Portfolio" section.
• Keep tabs on Tesla and weigh my next moves. It’s become a ritual!

9. Withdrawing Profits or Selling Tesla Stock

Haven't reached this stage yet, but here’s what I’ve gathered:

• In the portfolio, select Tesla and hit "Sell" when you're ready.
• Withdrawing funds seems straightforward enough, but always check for fees.

10. Lessons and Tips

• Stay updated: I've set up Tesla news alerts.
• eToro has a community section – it's a goldmine of insights!
• Diversification is a lesson I learned the hard way in the past.

11. Wrapping Up

My eToro and Tesla journey has been enlightening. The steps might seem daunting, but with some patience and a lot of research, it becomes second nature. Always be aware of the risks and never hesitate to consult experts. Here's to smart and informed trading!

eToro is a multi-asset platform which 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. 61% 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.

Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.

Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply. Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

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