In the past, trading could only be done by serious investors with huge funds. They would monitor the market and execute their trade by making phone calls to the dealers. However, forex trading has now advanced drastically with the help of internet connections, and automated trading is one of the technologies that come out of it.

Not only via PC, traders can now enjoy automated trading on Android. It's important to note that what we are discussing here is not the kind of automated trading that uses EAs (Expert Advisors) but trading with the signals that are automatically copied from other traders. In other words, automated trading on Android is possible with mobile apps that provide Copy Trading or Social Trading. This is because until now, EAs are not compatible with Android-based platforms.

Social Trading allows your transactions to be executed automatically, following the trades of other traders that you're previously subscribed to. So in general, this automated trading method provides the same convenience as trading with an EA, where you don't have to sit in front of a computer for hours to watch the charts, looking for an opportunity to enter the market, and build your own trading positions. You can continue carrying out your daily activities while occasionally monitoring your trades with Copy Trading.

As Social Trading can also be operated on Android, the activity will be much easier. In this case, you have 2 alternatives to choose from: social trading apps from brokers and independent (non-broker) Copy Trading service providers.

Automated Trading With Broker Apps

Several forex brokers such as IC Markets, Exness, and eToro have provided automated trading on Android in their services. Traders can easily download the applications via PlayStore.

IC Social

• App name: IC Social
• File size: 34 MB
• Playstore Rating: 3.6/5 from 140+ reviews
• Number of downloads: Over 10k (as of February 2024)

IC Markets provides forex and CFD trading with raw spreads on MetaTrader and cTrader. To enhance their service, they launched an automated trading app entitled IC Social.

As a mobile trading app from a trusted online broker, IC Social offers social trading supported by Pelican Exchange. With this app, IC Markets traders can connect their MT4 live account to copy trades from other traders automatically.

For signal providers, the data that can be shared includes entry prices and entry times. All IC Social users can join the trading community which is integrated within the app. Risk copy management has also been adjusted in such a way as to make things easier for signal providers and followers.

Exness

• App name: Social Trading by Exness Global Limited
• File size: 24 MB
• Playstore Rating: 4.5/5 from 5k reviews
• Number of downloads: Over 500k (as of February 2024)

Similar to IC Markets, Exness offers an automated trading experience on Android with a social trading platform. This application facilitates clients who want to invest in successful traders to earn passive returns. Exness provides a flexible filter so that investors can choose traders thoroughly following their preferences.

In general, Exness Social Trading is provided with a number of benefits in terms of security of funds, verified traders, portfolio building, and transparent results.

eToro

• App name: eToro: Trade. Invest. Connect.
• File size: 41 MB
• Playstore Rating: 4.1/5 from 137k reviews
• Number of downloads: Over 10m users (as of February 2024)

This platform fosters interaction between traders and investors where they can connect, share, and copy strategies automatically. eToro also offers powerful investment tools with market research, technical analysis, and ProCharts to help users make informed decisions.

As a regulated platform, eToro prioritizes client security and privacy. This broker is also one of the pioneers in social trading, so their community has gathered millions of traders and investors around the world.

Automated Trading with Non-Broker Apps

If your preferred broker does not provide automated trading on Android, you can consider an independent platform that hosts their service on Android devices, one of which is ZuluTrade.

ZuluTrade

• App name: ZuluTrade for Social Trading
• File size: 35 MB
• Playstore Rating: 3.8/5 from 2.4k reviews
• Number of downloads: Over 100k (as of February 2024)

With ZuluTrade's user-friendly interface, users can open a free demo account that allows them to practice copy trading using virtual money. Because it is not tied to any broker, ZuluTrade can support account integration with more than 50 international brokers worldwide.

This platform offers automatic trading with a transparent social trading system. Also, there are more than 335k signal providers at ZuluTrade, so investors can get a very diverse choice of traders. Uniquely, ZuluTrade has a special feature called ZuluGuard to monitor traders performance and protect investor accounts automatically.

How to Choose the Best Option?

After knowing the two ways of automated trading on Android, there are things you need to pay attention to. One of them is user reviews, particularly from those who have experience in using the application on their Android devices. Pay attention to whether the application is trustworthy enough to try, and whether the features provided are compatible with your device and trading preferences.

Apart from that, you also need to pay attention to whether the app developer is responsive to users' questions and criticism. The more responsive they are, the better the support. You also have to remember that smartphone apps often require regular updates. Thus, make sure your device memory can afford future upgrades.

Forex trading on Android can also be executed via a web-based platform. If you are interested, find more about it at Forex Brokers That Provide MT5 WebTraders.