Introduction
When it comes to Tesla shares, the stock market seems forever divided, with avid investors taking both sides. However, there’s one thing we cannot ignore: Elon Musk, Tesla’s outspoken CEO, has successfully steered the company from what was once an almost impossible vision into the world’s leading electric vehicle manufacturer. The big gainer of this success is Tesla’s shares and its investors.
A case in point is evident during its run in 2021. Despite dropping more than 20% of its price from its January 2021’s 52-week high, Tesla has still gained more than 340% over the past 12 months. This sustained run has made Tesla — mistaken as a cheap stock by nobody — look even more expensive.
Tesla shares can be traded via the eToro online investment platform so if you’d like to know more on how to invest in this electric vehicle maker then continue reading this article. In this article, you will learn about buying Tesla stock on Etoro.
History of Tesla
Tesla Motors was founded on July 1, 2003, in San Carlos, California, by Martin Eberhard and Marc Tarpenning. Ian Wright joined a few months later becoming the company’s third employee. In January 2004, they sought venture capital (VC) funding and connected with Elon Musk who poured US $6.5 million into the first round of investment in February 2004. Musk soon became chairman of the board of directors.
As Musk has stated from the start, Tesla’s main vision is to manufacture affordable electric vehicles that would appeal to the mass market. Tesla’s strategy began with developing premium sports cars intended for early adopters before transitioning to mainstream vehicles.
In September 2017, Tesla reached a milestone after it released its 250,000th unit, and in February 2018, it produced its 300,000th vehicle. Tesla’s global sales surpassed 500,000 units in December 2018. In 2019, Tesla vehicle sales increased 50% from 245,240 units to 367,849 units 2019. The company manufactured its 1,000,000th electric car on March 9, 2020.
What is Tesla’s Stock Symbol?
Tesla’s ticker symbol is TSLA. It is traded as a Nasdaq 100 component, S&P 100 component and S&P 500 component. This is the symbol that you need to use for finding the company’s trading page with a brokerage firm’s platform and for placing buy and sell orders.
How to Buy Stocks on eToro
Recent platform enhancements now allow users to go from zero to stock ownership in mere minutes with eToro. Once you have access to the program, you have the ability to research or connect with millions of users, and even duplicate their investing selections. Can investors truly benefit from the wisdom of crowds?
Before you can find out for yourself, you’ll need to register for an account. Here’s a quick look at the first steps an investor takes with eToro.
Step 1: Open an eToro account. Opening the account happens quickly with the help of your smartphone and sign-in management from Apple, Facebook, or Google. Once you’ve verified your identity with two-factor authentication, you can login to the platform. But even if you choose not to expedite the first-time sign up procedure, it takes very little time to get to the point where you are ready to trade.
Step 2: Log in to your eToro account. eToro manages to speed up access to the platform in part because it separates the login procedure from account verification. That allows the company to identify the new customer and give them access to the platform right away. They will still have to verify the account through email or text before they fund the account, but a new user can log in to their account in seconds.
Step 3: Verify your account. Whether you first log in via smartphone or a web browser interface, eToro will try to verify you via text message to a smartphone if you have one. Once this step is complete, you can complete questionnaires about your trading knowledge, your purpose for trading, and your risk tolerance.
Step 4: Fund your account. Once your account is verified, you can add money for trading by first linking a bank account to transfer from. The fastest way to do this is to use the Plaid service for securely linking bank accounts. You can transfer as little as $10 in the U.S. or U.K., while other countries may require that you deposit at least $50. Transferring through Plaid can help you be ready to trade in a matter of minutes.
Step 5: Research and select a stock to trade. The platform features several resources for researching stocks, including price charts, company stats, analyst ratings, and a social media feed for user commentary. Using these resources can help you build a preference for the stock you want to trade. It can also help you strategize about how to enter and exit the trade. Once you’ve identified a suitable stock to add to your portfolio, you are ready to place an order.
Step 6: Place an order. Once you select the “Trade” button, a dialog box appears that allows you to specify everything you need to initiate a trade. You can specify your trade size by identifying a dollar amount, or by specifying the number of shares. It is at this point that you might specify that you want ownership of fractional shares.
You can also specify whether you want to use available leverage, the price for your stop loss, and the price for your take-profit orders. Carefully considering each of the options on the dialog can help you better strategize the trade. Once you have completed the dialog and selected the “Open Trade” button, your order is sent into the market and filled as soon as possible. Market orders are usually filled in a matter of seconds. Limit orders may take a moment longer, depending on the amount specified.
Alternatively, you can initiate a CopyTrader trade where the platform allows you to allocate a certain amount of money for use in following another trader and duplicating their trades. This form of trading may not be right for every investor, so be certain to thoroughly research it before you try it.
| Minimum Deposit | Stock Trade Fee | Available Stock Screener | Customer Support Methods | |
| eToro | $10 | $0 | Yes | Email, FAQ |
| Webull | $0 | $0 | Yes | Email, Live Chat, Phone, FAQ, Live Broker |
| Robinhood | $0 | $0 | No | Minimum Deposit |
Opening an eToro account: What You Need to Know
As part of signing up and verifying your account, you will be asked to provide the following.
- Name
- Address
- Place of birth
- Citizenship
It is also useful to have the number of your government-issued ID or passport available.
Financial Information
As part of the process of opening an account, you will be asked to provide financial details including the following:
- Trading knowledge
- Preferred frequency of trading
- Purpose for trading
- Risk tolerance
- Bank account information
ADVANTAGES OF BUYING TESLA STOCK ON ETORO
- Access to a global market: Because eToro grants access to a worldwide market, it is possible to invest in Tesla from any location on the planet using their platform.
- Easy to use: Even inexperienced traders will have no trouble buying and selling Tesla shares thanks to the intuitive interface offered by eToro.
- Fractional shares: You can start investing in Tesla with as little as $50 if you use eToro because the platform allows you to purchase fractional shares of the company’s stock.
- Secure platform: Since eToro is a regulated and secure site, you won’t need to worry about your money when you invest in Tesla using it.
Tesla Stock Chart
eToro’s platforms have an integrated charting tool so you can quickly see how Tesla’s stock market performance. And if you want to do further chart analysis then you can use the advanced ProChart feature.
Looking at the graphs of Tesla’s stock performance in the past 12 months and the last decade will have investors describing Tesla’s shares as “on fire”.
FREQUENTLY ASKED QUESTIONS (FAQS):
What Is eToro?
eToro is an innovative trading platform that provides a social trading experience. With eToro’s social trading network, users can explore and copy the trades of more experienced investors for crypto, stock, and ETF assets
The platform’s intuitive design helps investors more easily discover trading ideas or traders they’d like to follow so they can quickly place their own trades on the platform. The broker operates in more than 140 countries which demonstrates its appeal to a diverse range of users.
Is eToro a safe platform to buy Tesla stock?
A: Yes, eToro is a regulated and secure website. It is authorized and controlled by the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC) in Europe.
Can I buy fractional shares of Tesla stock on eToro?
A: Yes, You are able to purchase fractional units of Tesla stock through eToro. This indicates that you can start investing in Tesla with as little as $50 in your account.
What fees does eToro charge for buying Tesla stock?
A: eToro levies a fee known as the spread, which is the difference between the amount at which a stock can be bought and sold. eToro’s spread fee for Tesla stock is presently 0.75% of the trade’s value.
CONCLUSION
Using eToro to make an investment in Tesla stock is an excellent method to capitalize on the success of the company. You can quickly and easily purchase Tesla stock on eToro if you follow the steps that are detailed in this guide. This will allow you to get started building your investment portfolio. Don’t forget to do your homework and spend in a responsible manner. Happy dealing!
You can learn more about buy tesla stock on etoro by clicking here.
