Financial trading platform eToro has launched a new Android application for investors that want to trade through their mobile phone.

The application will work with the company’s social trading network OpenBook using an operating system that, it is claimed, is set to become the second most widely used in the world.

Johnathan Assia, chief executive officer of eToro predicted that mobile based trading will represent up to 30 per cent of all trading volumes by 2012.

He added, ‘To meet this need to trade on the move, we have committed to delivering our unique social trading experience to more mobile platforms, with plans to release iPhone and iPad beta versions as early as Q1 2011.’

OpenBook for Android provides traders with real time feeds of expert traders' positions and profits as well as live streaming prices for all supported products (currencies, commodities and indices) and the ability to place market and pending orders, monitor account balances and margins on their mobile.

eToro’s OpenBook, launched in July this year, allowing users to view, share and even copy their chosen trader’s moves in real-time.