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eToro Upgrades Android Forex App, We're Not Impressed

Jun 21 2013

Earlier today the social trading giant eToro announced that the new version its Android mobile trading app is finaly ready. It was about time – considering that probably every other tenth-grader can now develop an app for anything, it took eToro a bit too long to come up with up-to-date, adequate Android trader (the previous one wasn't a particular hit, especially with the bug preventing most people from logging in). 

After all this time, one would only hope that at least the app would be super awesome – after all, eToro claims that it's been focused on making it faster, better, and easier to use. Let me shatter that dream for you: the only thing eToro's new Android version is easier, better and faster from is a Symbian Facebook app from 2010. That's that. 
The broker seems to be most proud of what its Navigation Drawer Panel, which gives you “an additional 10% of screen space for you to be able to view more markets & more open trades”. I'm spoiling myself with a Nexus 4 and a 4.7 inch dicplay, so I don't really care about the extra 10% - I suppose that people with smaller screens will appreciate it though. 
Personally, I'm more concerned about the fact that the app freezes and crashes, and that it lacks basic functionalities that one would really find useful. Let's take a more detailed look. 
Logging in to the app is possible, which is definitely an improvement from the previous version and 100% of people find it useful. Of course, there's no guarantee that people with different phone makes and Android builds won't have any issues, so fingers crossed! 
If you don't have an account with eToro yet, you can easily register one – either by signing up with your Facebook profile, or by entering a username, password and email address. It only takes a few seconds. 
Keep in mind that opening an account automatically qualifies you for a free $20 no-deposit bonus (details and claim link will be emailed to you right after you register). Back when I claimed mine, though, it was only available for copying other traders, and I was assigned a trader to follow automatically (not even a good one, he lost my $20 in no time). If you try to deposit (let's face it – there's not much you can do with 20 bucks), you'll be given a choice between $100, $500 and $1,000 only, however on the next screen you'll be able to modify the amount. 
The Navigation Drawer Panel (which is nothing but a menu and the pompous name remains inexplicable to me) contains helps you access your trading instruments list, review your open positions, pending orders and account history; deposit money into your account; go to the copy signal page (OpenBook); and check out the eToro blog. The one thing it doesn't do is let you switch between real and demo accounts – to do so, you need to log out, then log in again and make sure you've switched between the Real and Practice tabs on top of the login screen. 
Placing a market or a pending order is no big hassle – there's literally nothing special there. You should be aware, though, that once placed, your order can't be modified like they can with other apps (take Trading 212's iPhone app for example). 
The charts of the app are pretty decent, however one user has noticed that they often display wrong data and you need to switch to a different trading instrument, then go back to see the proper info displayed on the chart. 
You can open the chart straight on top of the list of instruments, or on full screen (rotate your device horizontally to do so). The horizontal chart view is the only mode that lets you add an indicator but I'm not complaining about this because otherwise the chart is too small anyways and you won't be able to seethe indicator anyway. Then again, this is only valid for phones and could be improved for the sake of tablet users. Zooming happens through pinching, which is convenient. 
Unfortunately, the charts displaying wrong data is not the only bug that needs fixing: the app regularly freezes or disconnects, despite my otherwise excellent internet connectivity. In fact, it freezes so often, that I have decided not to use it for live trading until I notice an improvement on the demo. 
The bugs: disconnecting and freezing the screen
TAGS: eToro  forex broker  forex trading  forex  mobile trading  forex trading app  Android  iPhone  forex chart 

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