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).

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 (!)

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……

Google Nexus S Android Review. The Best Mobile Phone for Trading Forex?

We have managed to get our hands on the new Google Android phone that has been launched in partnership with Samsung- the Google Nexus S. It’s a nifty phone for sure, but is it any good for trading forex online?

Well, lets start with the actual phone.

If you want a cutting edge piece of kit, the Google Nexus S smart phone has plenty to brag about.  It runs the latest version of Android, 2.3 Gingerbread (run, run as fast as you can- you can’t catch me I’m the Gingerbread man, as the song goes..and this phone is certainly lightning fast). It has a big, beautiful screen, it’s packed with features and being a Google phone, you’ll be first in line for all the new software updates.

The Web browser in Android 2.3 is supersonic, and it easily matches the speed of the iPhone 4’s browser. And, unlike Apple phones, this phone will play Flash content which is a real bonus for forex traders- alot of charting sites and brokers use flash on their webpages to illustrate what happening on the currency markets. It will open up a whole world of information for you if you are on the move.

The Google Nexus S is basically a  Samsung Galaxy S on steriods, with a curvy shape that molds better to your face. It’s a fine phone- probably the most powerful device on the market.

But enough about the phone- what’s it like for trading forex? Well, the iPhone App Store has been running longer, and still had a greater choice of brokers and forex apps than its Android competitors, but we don’t expect this situation to last long. Android phones are forecast to outsell their iPhone rivals in 2011 and beyond, so we fully expect the forex app development to continue to accelerate and to even overtake its rival over the coming year.

There are already quite a few good forex apps in the Android Market app store. For currency pair prices and charting you have the excellent Swiss Forex android app from Dukascopy. We’d also highly recommend Trade Interceptor Forex from Riflexo Jsc for its superb charting (all for free). The beauty of the new Nexus S, is that you can see flash content, so you are going to be able to trade off standard web pages anyway. If you are looking for customised mobile forex apps, there are still more on the iPhone, but we reckon that this situation will reverse shortly. Brokers that have Android apps at the moment include MobiTradeOne, Oanda, FXCM and ActForex.

In summary- in terms of forex, the Samsung Google Nexus S Phone is the champion in waiting. It’s the most powerful phone out there, but you’ll need to wait a few months for the brokers and app developers to catch up. If you are looking for a phone with immediate forex apps, go for the iPhone. If you want a phone that will shortly be leading the pack on forex, we’d go for this latest Android phone. The fact that you can see flash content, and considering the speed of new forex apps development, leads us to hedge our bets that this phone will be the one that everybody else is chasing in the coming months.

Online Forex King News Now Available on iPhone, iPod Touch, Google Android, & BlackBerry Storm Smartphones.

We have just released a version of the site that is designed especially for your touch screen mobile device (or smart phone, if you prefer). The new version works on the iPhone, iPod Touch, Google Android, & BlackBerry Storm Smartphones.

So now you can get all of Larry´s forex news snippets and tips on the go.

Just navigate to the home page: www.onlineforexking.com (or search “online forex king” on Google, Yahoo or Bing), and the site will automatically detect that you are visiting the site with a smaller screen. You´ll be able to see all of the latest FX posts quickly, without draining your battery on the full site.

If you want to switch to Regular View, there´s a little slider at the bottom of the mobile page. Just slide this across and you´ll navigate to the full page.