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How to buy
If you live in Australia, a great way to invest in Tesla shares is, definitely, this popular broker.
eToro*, one of the main brokers around the world, is registered and licensed, among others, by the United Kingdom's Financial Conduct Authority (FCA).
We recommend eToro because you can create an account for free with this broker, and its fees for trading online are very low. Besides, eToro is available in our language, accepts users from Australia, it is really easy to manage, and its friendly interface is ideal for those who are starting to trade with cryptocurrencies and stocks.
How to sign up, step by step
The first thing you need to do is click here and fill in the fields on the right: enter your name, email, and set a password.
Now check your email: you have received an email from eToro, click on the button and your account will be verified.
Once on eToro, you just have to click on “Deposit funds”, in the page menu.
There, you can choose how much money you want to add to your account (the minimum is $ 200) and the payment method:
As you can see in the image, the first deposit can be made by credit card, PayPal, or bank transfer.
If you have a choice, we do not recommend bank transfer because it takes longer, and it can be very frustrating to see the price of Tesla rising while you wait for your transfer to be done.
How to make your first purchase
When eToro has confirmed the receipt of your credit, you just have to search for “Tesla” in the search bar, click on “Invest” and choose the amount in dollars you want to invest.
*67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.
Should I invest in Tesla?
By now, absolutely everyone is aware that the world is moving towards the use of renewable energies and non-polluting mechanisms. And Tesla is the most successful and outstanding company in this transition.
Tesla was founded by Elon Musk, together with two partners, in 2003 with the aim of designing, manufacturing and selling electric cars. It is precisely for the manufacture of high-performance electric vehicles that the company is best known.
However, Tesla also produces parts for electric cars that it sells to other brands, solar panels and batteries that can supply electricity to a house. To this we must add that Tesla's business model encompasses all processes from manufacturing to delivery to the customer.
Therefore, we can find that Tesla, although headquartered in California, has from several huge factories distributed in the United States to its own Tesla dealerships and specialized service centers. In addition to projects already underway in Europe and China.
What can we expect from Tesla in the future?
Being a technology company, Tesla will always go down the path of innovation, constantly improving its existing products and developing new ones. And this behavior can be observed by studying the path taken by the company since its founding.
The first vehicle marketed by the company was the Tesla Roadster, unveiled by the company in 2006. Being its first delivery in 2008 with a value of 109 thousand dollars and with a range of 322 km for a two-seater car.
Since then it has advanced to the model Y, which offers a vehicle with 5 to 7 seats and with a range of up to 480 km at a cost ranging from 39 thousand dollars. This is not to mention the projects that Tesla has underway, with which it promises us great advances.
If you are wondering how it is possible to improve quality and lower costs, the answer is only one: innovation.
Finally, Tesla's progress is also reflected in its stock market price since it made its appearance in 2010 at $17 per share, up to the values we have today. Therefore, Tesla must be taken into consideration when investing.
eToro, our recommended option for trading Tesla shares in Australia?
- It offers techniques and moves from skilled investors so you can emulate them
- Accepts short-trading
- It's really simple and user-friendly
- eToro offers leverage
- Lets you make investments in thousands of different goods
Homepage: www.etoro.com *
If you are thinking about purchasing Tesla shares from Australia, eToro is probably the best option currently.
eToro is well-known for making “social trading” fashionable, an ingenious form of investing in which traders can emulate the moves of other investors who have been generating income for years.
If you are still a newbie or haven't gained much investment experience, eToro is great for you. You can rest assured that you are doing a smart investment move when replicating those from subjects with a great deal of expertise. On the other hand, if you are an investor willing to share your methods with the community, eToro rewards you with money.
It is also very convenient how easy is the interface of the platform, ideal for beginners who are starting in the investment world.
How do Contracts for Difference function?
It is possible that you have found the initials CFD repeatedly if you already registered on eToro. We will come back to it, but you should know first that CFDs on eToro are only possible when you short sell or select leverage over x2 (although the platform does not even allow this option).
We will also explain concepts like leverage and “going short”, in case you are interested in day trading cryptocurrency or more advanced practices.
Even if you don't have a positive balance, you can still bet on eToro with CFDs. Let's say that you are sure that the Tesla will go down, so perhaps you consider that the best thing to do is wait until it does and then go in. But if it actually goes down, you can make some profits out of that.
The practice known as “going short” will allow you to do that. It functions, more or less, like this:
- Someone lends you, for example, 100 units of Tesla, valued at a total of $ 5,000 (these are completely made up numbers)
- Next, you sell them at their market price, $ 5,000
- The price falls, as you guessed, and the unit of Tesla now costs $ 30 instead of $ 50
- You buy the 100 units again, but at their current price, $ 3,000
- You give back the 100 units
- The difference is yours, so, you will have earned $ 2000
Take into account that it is much easier than it sounds: we can just say that by trading in Tesla you can also make money if you foretell it will go down.
What are the assets you can trade in eToro?
Besides stocks, there are a few more financial assets available.
What do you know about Exchange-traded funds or ETFs? They are similar to index funds and are known for merging the benefits of stocks and mutual funds: they can be traded at any moment in the market, but include a much wider diversity of assets and considerably lower fees.
eToro payment methods
Among the payment methods accepted on eToro you will find: bank transfer, PayPal, credit card, Neteller, and Skrill. There is not much to explain here: making a deposit with eToro is really simple. You just have to click “Deposit funds”, type a number and choose your preferred method.
Remember that for security policies, you need to be the holder of the account or the credit card.
The minimum first time deposit is $ 200, and there is a maximum limit for unverified accounts. Thus, if your intention is to deposit higher amounts, you will need to verify your account previously.
The platform accepts transfers in any currency, but charges a commission for making the conversion to USD. That is why we suggest, if possible, using USD directly.
There are different methods or ways for crypto trading, like day trading or buying and holding, for naming just a couple.
My recommendation for those who are beginning to invest is something in the middle: placing a dynamic stop-loss (15-20% under the highest price) when you open your Tesla trade and wait for it to work.
For instance, if you buy a cryptocurrency at $ 15, then it rises up to $ 25 and decreases back to $17, the stop-loss will allow your operation to be closed, maybe at $ 21 or $ 22. Thus, you will obtain a good profit.
You may be wondering: why not selling when the price is at its maximum? But unless you are a psychic, that is just not possible. The mentioned strategy can work perfectly and give good results.
Sooner or later, you will be prepared for applying advanced trading techniques, like using leverage or going short to profit from bear markets.
Virtual portfolio: How does it work?
In case you do not have much experience as an investor, you can start by practicing with a “demo” option. You just have to set the “virtual” option” in the upper left corner and your operations will be carried out with “imaginary” funds.
This can be a great way of practicing before starting to trade with real funds. You will have an amount of $ 100.000 (“fake” or virtual, of course) to begin with, and you will be able to operate with a variety of assets in your portfolio, not just with Tesla.
If your trials don't go well and you lose your funds, you can always ask eToro support to replenish $ 100k of virtual funds. The second time will probably be better.
Keep in mind that you should always be cautious when investing, nevertheless, using a virtual portfolio might have the opposite effect. It will never be the same as risking your own money.
And of course, the virtual mode is kind of pointless if you intend to trade in the medium or long-term (which almost assures you a profit only by replicating an index), since you would be wasting years. Demo accounts may be ideal for practicing before trading in the short or medium-term.
“Social trading”, an innovative concept
The first platform that thought of trading as a social activity was eToro, and the idea spread like wildfire. Other brokers have also adopted this concept, but eToro is way better.
But the main accomplishment wasn't just recreating a social network in the world of trading. There are countless sites to discuss investing, but they were not satisfied with that: the great innovation of eToro was allowing investors to replicate the strategies of other users, who were rewarded for their knowledge.
When you access eToro you will see in the menu on the left the options “Copy People” and “Invest in CopyPortfolios”.
“CopyPortfolios” contain a collection of assets of the same sector. For example, if you consider that a particular sector will succeed in the near future but you are not sure which investments to make, you just have to choose a portfolio that includes a variety of related companies in that industry.
CopyPortfolio has generated a 100% return in the last year, and it is as simple as clicking on “Invest”, enter the amount, place the stop-loss and wait.
The other alternative is to directly copy traders of the platform: in “Copy People” you can find eToro users who are very successful investing and whose strategies you can duplicate.
You will find in the profile of users: the type of financial instruments they trade with, their risk profile (a higher risk implies higher possibilities of earning more or losing more money), as well as their performance history.
Besides copying other investor's moves, which is really interesting and helpful, we also suggest that you make the most out of the community by reading other user's remarks. You can learn a lot from their experiences and knowledge, particularly if you aim to make a living from trading.
Frequently asked questions
* Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Disclaimer: 67% 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.