eToro Launches Android Forex App. What´s the Best Broker for Trading on Android?

Online forex broker eToro announced last year that they would be launching a suite of new tools for traders wanting to deal on their mobile devices and tablets. And here is the first: a new mobile trading app on the Android Market for mobiles and tablets (such as the new Google Nexus S and Samsung Galaxy Tab).

android forex
How to Get the eToro Mobile Forex App for Android Phones

- Sign up to eToro HERE – (it´s alot less fiddly doing it on a PC or laptop)
- Register for either a Practice account or a Real account (you can use both on the app)
- Once you have an account, head to "Market" on your Android phone
- Touch the search icon (top right mini-magnifying glass symbol)
- Search "etoro"
- You can then download "eToro Trader" for free
- It will install automatically.

eToro Android Forex Trading app review.
eToro is one of our favourite places to trade, purely down to the design of their trading platforms which give you plenty of customisation options. You can start off on the basic platforms if you are new to forex and progress right up to their advanced desktop platform which gives you most of the analytical tools you´ll need to trade.

And we´re also pretty impressed with the eToro Android Trader, certainly for trading on the go. You can flick between the 3 main trading screens: currencies, commodoties and indicies. Once you are in the trading zone, it´s quick and easy to open up a position or place an order by setting your amount, risk level (leverage x50, x100, x200, x400) and setting your "Stop Loss" and "Take Profit" levels. You can also quickly see all of your open positions, deal performance and orders that you have on the system.

eToro OpenBook
The standout functionality in this App, is the eToro Openbook section, which links you in to all off the trades that are going on in the eToro network. All the deals scroll down the page as they happen, and you can copy any deal by simply clicking on the "Copy" link (which replicates the trade). Careful with this though. We´d recommend doing your own research, and coming up with your own plan. Then use Openbook to ascertain whether any other traders are thinking along the same lines. Of course there are 2 ways of looking at this. Everyone else is wrong, or we´re all geniuses (!)

android forex app
Click HERE for Etoro OpenBook

Where Can They Improve?
One of the things we like about eToro as a broker, is that they seem to be constantly developing their systems, so I am sure that this won´t be the first version of their Android forex app. So here are our requests for the next version!

  • Charting. At the moment, this forex trading app doesn´t have charts. The important thing is being able to trade easily on the go- we´d agree. Even so, we think that the app could do with some more graphics. Even better, if you could trade from the charts and see your "Take Profit" and "Stop Loss" levels. There are some excellent free charting apps for Android though, so you can always use these in conjunction with the eToro Android app. We´d recommend the Swiss Forex app (Dukascopy Forex) or the Trade Interceptor Mobile app (you can link this to an FXCM or a Dukascopy account, but you can also use them for free and unlinked to any account, for the moment at least.)
  • We´d also like to see the ability to set a trailing stop on the app, but then that goes for the whole eToro platform. At the moment you have to go in and set this manually.

Overall score: 8.5/10

Now eToro, where´s the app for iPhone, iPod Touch and iPad users? And while you´re at it, you may as well knock one out for Android tablets (Honeycomb 3.0) Windows phones and Nokia running on Symbian (Ovi apps). I hope you have a big development team……

One Response to “eToro Launches Android Forex App. What´s the Best Broker for Trading on Android?”

  1. J Bhagyamma says:

    yes- good app, i agree with you on the charting tho, more charts pls!

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