eToro Launches New Version of WebTrader and OpenBook

9 August 2011
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LONDON and MILAN, 9 Aug 2011 – With the release of eToro’s revolutionary CopyTrader feature, enabling traders to copy each others’ trades automatically, eToro also revamps the eToro WebTrader and OpenBook application with more exciting and user-friendly options.

The addition of the CopyTrader tool to the eToro OpenBook arsenal is set to profoundly rock the financial trading industry from the ground up. In light of this upcoming revolution, it is only fitting that eToro should implement some profound changes to its own software, namely the eToro WebTrader and eToro’s social trading platform – eToro OpenBook.

The first of these changes is that the CopyTrader activity that is taking the eToro community by storm will from now on show up on OpenBook’s live feeds. What this means is that from now on forex trader can not only see what positions and orders other traders are opening and closing, but also see when traders start copying another trader. It will also show the results of copied trades, for example: “Anna Maria Fernandez closed a trade, copied from Rashamon20, gaining 10%”. This addition to the feeds will make it easier for people to pick the traders they want to follow or copy based on the results other traders achieve with them.

Another change has taken place in the OpenBook ranking system, which from now on will no longer be based on the weekly trading challenge rankings but on an independent OpenBook ranking system, based on long term results. Thus the Top 100 feed will show the live trading activity of the 100 top ranked based on this new rankings system.

Carrying on with the CopyTrader revolution, copiers’ information will now also appear in traders’ personal profiles. From now on, the profile will give the figures for the trader’s followers, for the traders he/she follows, as well as for the traders copying him/her and the traders he/she copies. Again, this is designed to help OpenBook users to choose the traders they wish to copy, because obviously traders with a lot of copiers are likely to be making good profits for their copiers. In the near future, eToro also means to launch a Guru program which will compensate “Guru” traders, i.e. traders with a large number of copiers.

As for the WebTrader, the new version will enable traders to link directly to a user’s OpenBook profile by clicking on their username in the chat box, facilitating the transition from one forex software to the other.

With this essential update of eToro’s unique software package, the stage is set for the idea of social trading to take the world by storm.

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About the Author

etoro is the world’s largest investment network, with over 1.5 million users in over 130 countries and thousands of new accounts opened each day. eToro leads the social trading revolution through its community powered network, which enables every investor to see, follow and automatically copy the actions of other investors in real time. eToro’s mission is to open the financial markets to every individual and make them accessible through a simple, transparent and more enjoyable way to trade currencies, commodities and indices online. Based on a wide range of innovative web-based and mobile trading platforms that appeal to every level of trading expertise, eToro’s investment network facilitates information exchange between investors, accelerates knowledge sharing and shortens the learning curve for those who want to bring their trading experience to the next level.

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