With millions of pre-orders of the Apple Watch already being made since it became available for purchase last Friday, developers have been gearing up apps for the coming release. Joining the ranks of Apple Watch app providers is E*TRADE Financial which announced the launch of its watch-based trading app.
Set for release on April 24th when the Apple Watch becomes available, the E*TRADE app provides users the ability to follow the markets and their own portfolios. The product includes visual snapshots of indices and volume figures, as well as summaries of portfolios and watch lists. Also included is the ability to customize notifications to receive alerts about price changes and account related changes. Not included is the ability to enter trades on the Apple Watch. This contrasts with a similar app being released by IG Group, which will also include trading functionality.
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Our app offers investors and traders a new, intuitive way to track the markets and their portfolios wherever they are – Kunal Vaed
Overall, like other apps being customized for smartwatches, E*TRADE is using the app as a passive content display device, rather than an active platform. With the exception of a small array of smartwatches, most devices on the market require the use of Bluetooth tethering to a smartphone. As a result, developers have primarily focused on creating smartwatch apps that work in tandem with smartphones, with active features limited to the larger screened phones. In this regard, the E*TRADE app works the same way and connects with the broker’s mobile trading app for placing trades and more in-depth analysis of the markets.
About the product, Kunal Vaed, SVP of Digital Transformation and Active Traders at E*TRADE Financial, stated, “Our app offers investors and traders a new, intuitive way to track the markets and their portfolios wherever they are. It builds upon our leading iPhone app, re-envisioned for the Apple Watch, and makes the iPhone and Watch experience seamless.”