While there are hundreds of trading services online, eToro is not just a broker. This is a social trading platform that allows you to effectively communicate with other traders and make decisions based on a variety of real-time sources of market data while purchasing and selling assets. But what really makes it extremely convenient to use is its mobile app. In this article, we’re going to review that app and help you understand whether it’s really worth a try.
How the app works
The app seems like a valuable tool for novice traders since it allows them to access all the necessary information without the need to search for it. There are all kinds of useful charts, real-time data, news, and so on. And if you don’t really understand what’s going on, there is a list of popular stocks that you can purchase right away. The app was designed to be especially novice-friendly, so you don’t have to be an expert trader to navigate it.
The company gives you several options for all the popular platforms. That means you can trade right on your smartphone, then open your laptop or take your tablet and continue from that same moment, which may be very important if you want to keep an eye on your assets all day. There is an eToro app for both iOS and Android devices, and its interface was adjusted to fit little screens without losing the most crucial functions and tools. It really helps you trade on the go, so it’s quite popular.
Another option is a web version of the app. It provides easy access to all the necessary tools, and it’s also highly customizable to fit your trading preferences and style. For example, you can set a custom alert that will tell you some asset has reached a certain price. But what’s especially great about eToro is that this app helps you share your trading ideas or follow other traders to understand what they do, and these social features make copy trading strategies extremely effective and easy.
Pros and cons
Basically, we’ve already covered the major pros: great opportunities for copy trading, simple interface, fresh news and charting tools. We should also add commission-free stock trading and nice options for crypto trading here. But eToro has a couple of cons, too. First of all, the app is unavailable in several large countries, including Canada, India, and China, and in some of the US states, too. And while the trading fees are moderate, the non-trading ones may prove to be too high in some cases.