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How to buy
If you live in Ireland, 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 Cyprus Securities and Exchange Commission, and therefore complies with all the regulations of the European Union, the most demanding in the world.
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 your language, accepts users from Ireland, 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 inbox: you have received an email from eToro, click on the link 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.
Tesla business model
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 broker
- You can invest in tons of other products
- Leverage is allowed
- Really user-friendly and simple
- You can learn from other investment moves
- You can short sell
Homepage: www.etoro.com *
eToro is probably the best way to invest in Tesla from Ireland.
“Social trading”, an innovative investment method that consists in replicating techniques and moves from other experienced investors, has become popular thanks to eToro.
If you are still a newbie or do not have 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 long profit record. On the contrary, if you are an investor and decide to share your abilities with the community, eToro pays up for it.
Another thing to mention is how easy the platform is, which turns out perfect for new users that are just learning all about the trading world.
Can you trust eToro?
eToro is very careful with the data about past performances from investors, and its integrity has been tested several times times by independent organizations.
eToro fulfills all the demanding policies of the European Union. Specifically, its head office is in Cyprus, and it is validated by the CySEC or Cyprus Securities Market Commission, which protects up to € 20,000 of the debts that its clients may have with creditors, including those from Ireland.
eToro is backed by the European Financial Instruments Market (MiFID), and by the Financial Conduct Authority or FCA in the U.S. You should also know that it has a trajectory of fifteen years, with more than 20 million users around the globe. So, you can be sure that your finances are safe.
No less important is their excellent customer service. You can use the ticketing system, an online chat, and they also have a phone number available for assistance.
How do Contracts for Difference function?
It is possible that you have found the acronym CFD repeatedly if you entered eToro before. Before we come back to this, we must say that CFDs on eToro are only possible when you are short-selling.
In case you want to try at some point day trading cryptocurrency or other operations, below you will also find concepts like going short and leverage.
With CFDs you can operate on eToro even if you are not “in the black” or having a negative balance. In a hypothetical case: you are sure that the Tesla will go down, so you obviously think “if it is going to depreciate (go down in price), I'll simply wait until it does”. Nevertheless, if you are sure that it is going down, why not take advantage of that and making money?
You can accomplish that by “going short”. Here's how it works:
- You ask someone for a loan of, let's say, 100 units of Tesla, which cost $ 5,000 at the moment (these figures are made imaginary)
- You sell the 100 units at $ 5,000
- The Tesla goes from $ 50 to $ 30 (as you thought, the value decreases)
- Again, you buy the 100 units, but at the current price, $ 3,000
- Now you give back the 100 units to whoever made the loan in the first place
- The difference is yours, so, you will have earned $ 2000
It is far more simple than it may seem. Just remember that by trading in Tesla on eToro, you can make a profit when you anticipate the price will fall.
Differences between futures and CFDs
What are the differences between CFDs and Futures?
- Futures: the exchange is made with another investor or trader.
- CFDs: the operations are not made with someone else, the counterparty is the brokerage platform, in this case, eToro.
- Expiration date:
- Futures: they expire. Once the contract expires, it is closed and can't be reopened.
- CFDs: there is no expiration date. You can wait until you get in a good position before exiting.
- Options for trading:
- Futures: there are fewer options for investment
- CFDs: you have plenty of options to choose from, there is a wide diversity of CFDs
- Minimum investment amount:
- Futures: very high minimum investment
- CFDs: you can get in with a lower minimum trade size
- Costs and rates:
- Futures: as you need to invest more, rates are lower
- CFDs: higher (although they are not excessively high either)
- Possibility of using leverage:
- Futures: you can't leverage
- CFDs: it is always possible to leverage
Do you know the term “leverage”? We'll put it simply: trading lets you invest more money than you can have in a given time. Let's say that you have $ 100 and you use x2 leverage, you will be actually investing $ 200.
Leverage and the importance of “Take Profit” and “Stop Loss”
Assuming that, for example, you are sure that Tesla price is going up, and that you have $ 1,000 for “going long”, you should know that you have the option of investing more and making more money.
There's the possibility of asking for a loan, but you must know that all the process takes time, and when you receive the money, Tesla might be already at a much higher price, so you wouldn't be able to invest the way you planned.
Thanks to leverage, you can get that amount of money with two clicks. It's just like borrowing money, but much better: from eToro itself. You can get financing to operate with much more money than you actually have on the eToro Wallet. As in the image below, you will see the different options you have:
With other assets, you can use more leverage. Why? Because cryptocurrencies are usually medium-long term investments, and leverage is used especially for day trading or short-term trading. But let's see how this works with the previous example.
If you have the $ 1,000 and use leverage x2, your investment is 2 * $ 1,000, that is to say, $ 2,000. eToro gives you the remaining amount to reach that figure.
A week after that, turns out that Tesla valuation goes up and now the value of your investment is 20% higher, which means, you have $ 2,400 in Tesla shares. But you don't want to be too reckless, so you decide, wisely, to sell back.
First of all, the 1k $ of the leverage will be deducted. You have $ 1,400 left, of which $ 1000 is the money you put in yourself, so you'll have earned $ 400.
By starting with $ 1000 and getting $ 400, you'll be earning 40% of your investment.
But there's always a drawback. If everything goes ok and the price rises, you will make money. However, if the asset decreases, you will also lose more money in the blink of an eye.
For instance: if instead of increasing by 20%, the price falls by 10%, you won't lose $ 10, but $ 20. Because of that, the concepts of Take Profit and Stop Loss are crucial when using leverage.
Take Profit is used as a form of reducing risks when trading. When you enter, you can set a profit limit and ask that your position is automatically closed when the asset reaches a price.
If you purchased Tesla shares at $ 100, you request eToro to close once it reaches $ 120. That way, you make sure you won't change your mind and decide to wait a bit longer in case it keeps rising, which could be a mistake.
Stop Loss is even more important, especially if you trade with leverage, because a small loss with leverage can have a significant impact. Always remember to set a Stop Loss more conservative than that suggested by the broker.
What is social trading?
The first platform that conceived trading as a social activity was eToro, and the idea became successful really quick. Other brokers have also taken this concept, but we have tried them all and eToro is still the leader.
But the main accomplishment wasn't just creating a social network for traders. They could have made the umpteenth social network in which users talk about investing, but they wanted much more: the major contribution of eToro was to allow traders to imitate the moves of skilled investors, and to reward them latter for their knowledge.
When you enter eToro you will see in the menu on the left the options “Copy People” and “Invest in CopyPortfolios”.
“CopyPortfolios” are a kind of portfolio that bundles a number of assets in a certain sector. For example, if you heard that the gaming sector is going to prosper shortly but you don't know which stocks to select, you just have to pick the CopyPortfolio “InTheGame”, which includes Microsoft, Google, Tencent, NVIDIA, Logitech, Intel, AMD, Nintendo, Ubisoft, Unity…
You should know that in the past twelve months, CopyPortfolio has generated returns of 100%. And you can benefit from it just by choosing a portfolio, enter your selected amount, place the stop-loss order and click on “Invest”.
But you can also copy other successful traders of the site. With “Copy People” you can find them and imitate their moves easily.
In each user profile, you will see their risk profile (the higher the risk, the more chances of winning more and losing more money), their performance history, and what type of instruments they trade..
Copying strategies from others can be very interesting and useful, but I also suggest taking advantage of the platform's community to read other users and learn from their experience. If your goal is to end up living from investment, it is a great place to acquire valuable knowledge.
When trading cryptocurrencies, there are different possible methods or strategies, like day trading or buying and holding, for naming just a few.
My suggestion for those who are starting to trade is going for a middle point: when you open your Tesla position, place a dynamic stop loss 15-20% below the maximum price, and forget about the operation.
This means that if, for instance, you purchase a cryptocurrency at $ 10, it goes up to $ 20, and after that it decreases to $ 12, your operation will be closed at $ 16-17 and you will obtain a pretty good profit.
It might sound way better to sell when the cost is at its highest, but unless you're psychic, that's impossible. The mentioned strategy is much more realistic and it can give great results.
Later on, you will be able to apply more complex techniques, like short-selling or using leverage.
How to use eToro
As we have mentioned among the positive aspects of eToro, the best thing about this online broker is its extraordinary simplicity: anyone can trade without having to read endless explanations.
You won't have any problems with the interface if you have used any of the most common social networks, like Twitter or Facebook.
We will explain the registration steps and the different tabs that you will find.
First, you will have to enter your personal data.
They will also ask you about your previous experience as an investor.
But don't worry: it is not an exam. It is only a way of finding out how much knowledge you have and what type of financial instruments they can suggest. For example, if it is your first experience in the investment world, they will not recommend that you invest in futures.
You will see a bar that says “incomplete profile” until you complete all the requested information.
Next, we will talk about the different sections of the platform.
“Set Price Alerts” allows you to put alarms on the price of certain securities. This is very helpful when you are after a security which price is decreasing, but perhaps you think that it will decrease even more.
The section “News Feed” allows users to interact and share their experiences and knowledge.
In “Discover” you will find: “Instruments”, “People” and “CopyPortfolios”. As we discussed before, the six types of instruments on eToro are:
- Raw materials
- Index funds
The term “social trading” comes to life in the section “People”: that is where you can replicate the strategies of the best investors with just one click. You'll be able to see all their profiles and historical performances.
Using the search bar, you can find the investors that best suit your interests: by average profits, market or risk level, for instance. You just have to type the amount you want to invest and eToro will be in charge of replicating the movements of the selected investor, in proportion. This means that if you have $ 1000 and the trader puts 10% in an asset, the platform will invest also 10% of your money (that is, $ 100) in that same asset.
Also, here you will see CopyPortfolios classified into three categories, Top Trader, Market, and Partner.
The benefit of copying to CopyPortfolios instead of specific traders is that this way the risk will be more diversified. There are all kinds of portfolios that you can identify easily and are classified by sectors. So, in case you suspect a specific sector, such as fashion or oil, will have good incomes in the future, you should probably look for that specific portfolio.
Are you beginning in trading? Using a demo account can be useful. Just assure yourself that the virtual mode is set in the top left corner of the page and you can start operating with “fake” funds.
A virtual account can help you to practice and gain experience before starting to operate with real funds. When you create your demo account, you will begin with a virtual balance of $ 100.000, to operate with a variety of assets available on the platform, besides Tesla.
If your trials don't go as planned and you lose your funds, you can always ask the platform to replenish $ 100k of virtual funds. The second try will always be better.
But remember that trading is mostly about being prudent, and demo account trading can have the opposite effect. It is completely different to risk your real savings than to do operations with a fake balance that you don't mind losing. Besides, investing virtual money can prevent you from learning to control your emotions, as a true investor should.
Finally, if you are interested in investing in the long or medium-term, it makes no sense that you try the demo mode and wait for years. But it can be ideal if you want to practice short and medium-term trading.
* 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.