How to Buy Tesla Stock on eToro: A Guide to Beginners +Video

A Beginner’s Guide to Buy Tesla Stock on eToro

eToro exchange platform is known for its user-friendliness and easy-to-navigate interface to trade crypto, stock, and other commodities. If you are looking to purchase Tesla stock on eToro, then you’ve come to the right place. This guide explains how you can create an account and buy Tesla stock on eToro.

Step 1 - Create an eToro Account 

The first step is to create an eToro account to buy Tesla stock on its platform. For that, you need to go to the eToro website and click on the “Join eToro” button to register your account. Then, enter your details like user name, and email address, and create a strong password for the account.

After entering the details, read and accept the terms and conditions and click on “Create account”. By this time, you’ve successfully registered on eToro. You can now log in to your eToro account with your username and password. 

Step 2 - Verify Your eToro Account and Identity

The next step is to verify your identity on the platform and also verify your account. You can verify your account either by using your email address or text messaging. But, to verify your identity, you need to upload any government-issued identity card and address proof on your account. 

This step is crucial because it ensures that you are a legitimate person who complies with the KYC and AML guidelines. It might take a few business days for the platform to verify your identity. But without this process, you might not be able to buy Tesla stock on eToro and will not be able to access various features and benefits on the platform. 

Step 3 - Deposit Money into your eToro Account 

To purchase Tesla stock on eToro, you need to have money in your eToro account. For that, you need to deposit some funds into your account. The platform supports various payment methods like bank transfers, card payments, and online payment systems. 

You can choose your preferred and convenient payment method. However, it is important to keep in mind that each method of payment has its own processing time and fee structure. 

You need to select the ‘Deposit funds’ section on the dashboard and select your preferred payment method. Enter the payment details like bank account number, personal information, and the amount you wish to deposit and confirm the transaction. 

Step 4 - Search Watchlist to Find Tesla Stock

By the time you register, log in, and deposit funds into your eToro account, you might’ve already witnessed the easy-to-navigate and user-friendly interface of the platform. Now you need to search the Tesla stock to buy it. 

Go to the “Watchlist” on the dashboard and search for Tesla stock. When you click on it, the Tesla stock page appears where you can check the stock’s performance, historical data, and other information related to the stock. You need to click on the “Buy” option to proceed with buying the Tesla stock. 

Step 5 - Verify the Details and Buy Tesla Stock on eToro

As a part of the next step, you need to enter the details related to the quantity of Tesla stock you would like to purchase. You can either select the amount you wish to spend or the amount of Tesla stock you would like to buy. After entering the details, click on “Open trade” to continue buying Tesla stock. 

If you haven’t verified your account or identity, the platform prompts you to do it at this time. Then, you must review and verify all the details to make sure that they are correct. After that, you need to select the “Confirm Trade” option to finally buy Tesla stock on eToro.