With the release of our new Social Alerts app for Android, we are making it easier than ever for traders to harness the wisdom of the crowd.
Using the Social Alerts app, you are guaranteed to receive all the information you need to make smarter investment decisions.
The advantage of Social Alerts over regular technical trading signals is the element of practical human expertise. Unlike technical trading signals, which are produced by mathematical models, these signals are supplied by real people who have put their own money on the line.
The mechanism behind the app is very basic: every time one of our top Social Gurus on OpenBook opens a position, you will receive a Social Alert to your mobile device, telling you which instrument to trade, and the Guru’s entry and exit points – in other words, all the information you need to know before you open a trade.
Following through on the signal is even easier – simply tap on the alert you wish to trade on, choose your investment amount and click copy!
To start using the app, download it for free from the Google Play store, log in with your eToro account username and password, set your frequency of alerts and favorite instruments to trade, and off you go!
The app also provides you with an overview of the social impact for each alert, including signal ratings, the number of traders who’ve already copied the alert and the comments posted by eToro users.
Using this feature you can accurately estimate the quality of the signal based on crowd sentiment!
The app is now available for free at the Google Play store, so go ahead and get social with it!
Please note that Social alerts will replace Trade Alerts which will be removed from the play store on April 1st!
We’d also love to hear your feedback so we can improve the app for the optimal social experience, so feel free to tell us what you think about it in the comments.