Tesla (TSLA) has been one of the hottest stocks over the past few years. While the electric vehicle maker’s share price is down significantly from its highs, many investors remain bullish on Tesla’s long-term growth potential.
One popular platform for buying Tesla stock is eToro. eToro is a social trading brokerage that offers commission-free trading on stocks, ETFs, cryptocurrencies and more.
If you want to invest in Tesla on eToro, here are the simple step-by-step instructions:
Create an eToro Account
First, you’ll need to create a free eToro account. You can sign up on eToro’s website by providing some basic personal details. The account opening process is quick and easy.
https://www.etoro.com/accounts/sign-up
Verify Your Identity
eToro will require identity verification before allowing you to deposit funds and trade. You’ll need to upload a copy of a government-issued ID, like a driver’s license or passport, and a recent utility bill. This is standard “know your customer” procedure.
Deposit Funds
Once your account is opened, you’ll need to deposit money to fund your Tesla purchase. eToro offers several convenient funding options, including credit/debit cards, PayPal, bank transfer and more.
Search for Tesla Stock
In the eToro search bar, type “TSLA” to pull up the Tesla stock trading page. Here you’ll see live pricing data, charts, and other key information about Tesla.
Buy Tesla Shares
When ready, click the “Trade” button to open an order ticket. Input the number of Tesla shares you want to buy or the dollar amount you want to trade. Review and submit the order.
Set Stop Loss and Take Profit
Using stop loss and take profit orders is advisable when buying Tesla stock to manage risk and lock in returns. Set stop loss below the purchase price and take profit levels for anticipated exit points.
With just these six steps, you can gain exposure to Tesla stock through the eToro platform. Just be sure to do additional research on Tesla and its business outlook before investing.
