Naturally, this has created a larger supply of apps than ever before, and at the same time, it’s made it harder for traders to decide on which Android app to use for trading. Because of this, we asked our team of experts to review the market and test the leading apps in search of the best one. It didn’t take long before we stumbled upon the online broker eToro and we were quickly taken aback by the quality of this trading app. Not only does the broker offer great investment and trading opportunities, but it also has a unique social platform where you can copy other, more successful traders. In fact, we are now convinced that eToro has the best trading app for Android and in the following post, we’ll tell you all about it.
Highest Rating Among Experts and Users
The first thing that sticks out when reading about eToro’s trading app is how high it’s rated everywhere. For example, at the leading broker review platform TradingGuide.co.uk it’s consistently ranked as the best app and the best online broker in general. The same goes for other leading platforms in the industry, including Investopedia and many more. Since we are Android experts and not trading experts, we do take this rating very seriously and put all our trust in the opinions of experts. However, that is not all. eToro is also top-ranking on other platforms where real users get to review it. For instance, on Trustpilot, eToro has a 4,2 out of 5-star rating based on 16,619 reviews. And we see similar numbers in both the app stores. In the App Store (for iOS) eToro also has a 4,2 out of 5-star rating based on 5,253 reviews. Now, the main reason why we consider this the best trading and investment app for Android is the rating it has in Google Play. At the time of writing, eToro had a 4,2 out of 5-star rating based on a staggering number of 123,236 reviews! Meaning it is one of the highest-rated trading apps ever for Android users. And with that out of the way, let’s take a closer look at what you can use eToro for.
Trading with eToro
The main service offered by eToro is online trading. This is done through a derivative class called CFDs (Contracts for Difference) which allows you to speculate on market movements. With eToro, you can trade on:
3,000 international stocks264 exchange-traded funds (ETFs)76 cryptocurrencies49 currency pairs23 commodities
As you might have guessed, this is more than enough for most retail traders as well as professional traders. And it means that you can trade and benefit from all of the main financial markets in the world from your Android, all at the same time. In fact, you can trade cryptocurrencies at the same time that you’re trading stocks and/or currencies, etc. Also, the trading platform is easy to use, and highly efficient, and it’s quite cheap to trade with eToro since they offer tight spreads on most assets. *Spread is the difference between the bid and the asking price and how CFD and forex brokers make a profit. It’s very similar to the commission charged by stockbrokers.
Investing with eToro
A few years ago, eToro expanded its services to also include long-term investments, and this is now one of their most popular services. At the moment, you can invest in cryptocurrencies and stocks, and all stock investments are completely commission-free. The selection of stocks offered is varied and covers all the major markets and several different regions of the world. On top of all this, eToro has great educational material for anyone looking to improve their skills and knowledge. Meaning this Android trading app is a great option even for beginners.
