Stock Trading App Development: Investors used to have to call the stock exchange, who would then put them on hold while connecting them to a stockbroker, who would charge them money to buy stocks for them.
The time has passed. For the better. Today, brokerage houses and other financial platforms have made the entire process of buying and selling stocks available on mobile devices. This has allowed investors to trade on their own schedule, with no need for extra coaching, while on the move.
In this post, we’ll walk you through how to get started with stock trading application development, including why it’s important to do so and how to create a stock market app.
Understanding a Stock Trading App’s User Demographics
There are four types of users on whom you should concentrate your design, development, and promotion efforts –
Young folks who are still deciding whether or not the stock market is right for them.
Investors that are new to the market and have limited experience but want to get started right away.
Professionals who respect their time and want to get in and out as quickly as possible. Users that are tech-savvy and want to have all of their data and statistics in one location.
Countries are showing an increased interest in the top stock investment apps
Now let’s look at the age range of the investors.
According to Statista, the online stock trading business saw a significant increase in users in the Millennial age group in 2018.
Let’s move on to the next section of the business now that we’ve looked into the age group and location of the users: the necessity to invest in stock trading app development.
Why Should You Invest in the Development of a Stock Trading App?
Aside from the obvious fact that the app category has a large user base across all age groups, the convenience that they provide is too great to be overlooked when considering the advantages of building a stock trading app.
Stock trading applications allow busy investors to keep track of how their portfolios are performing. They readily agree to become paying members of the app in exchange for this convenience. Overall, when it comes to stock trading app development, there is a lot of room for profit in terms of both money and fame.
Now that you know why you should construct a stock trading app like Robinhood or E-Trade, let’s move on to the next stage you’ll have to
think about if you want to start your own stock trading app business: the competition you’ll be up against soon.
Apps for Stock Trading – Stock Trading App Development
App for Stock Trading by Robinhood
Robinhood has established itself as one of the greatest stock trading apps available today by providing free stock trades. The app’s main features include tracking your stocks, searching for stocks, and trading stocks, among other things.
The free edition of the program offers you access to stocks, ETFs, and Bitcoin, but you’ll need to upgrade to the paid version if you want to invest in and out of mutual funds.
The fact that Robinhood’s free edition has a plethora of superior features has made it a go-to example for fintech app development companies looking to create a successful free stock trading app.
Stock Trading App Stash
This program, which is also one of the top stock trading apps of 2019, is designed for beginners who want to make their own financial decisions while staying safe. It allows you to invest as little as $5 while also continuously educating you on the investment world.
The applications include a number of helpful hints and articles to make the entire investment process go more smoothly.
E-Trade was once a forerunner in the field of internet investment. The firm, which is based in Silicon Valley, began offering online trading with the support of America Online (AOL) and Compuserve. Soon after, they released the E-Trade app, which is one of the greatest stock trading apps available.
The Characteristics of a Successful Stock Trading App
1. The procedure for checking in – Stock Trading App Development
The authorization process ought to be simple and painless for the users. At this point, you should provide users with a variety of check-in alternatives, such as pin codes, biometrics, and so on. You’ll be able to ensure that their experience is safe this way.
2. Profile of the user
Users should be able to remember their personal information as well as notification settings, such as the frequency with which they want their account debited.
3. Investing in stocks and making trades
Giving consumers the ability to execute orders and track their fund’s flow is an apparent feature that should be included in your stock trading app development process.
4. Portfolios that are updated in real-time
Regardless of every fintech application development firm you speak with, they will all agree that nothing is more useful than real-time updates when your users invest their time and money in a stock trading app.
5. Make a deposit – Stock Trading App Development
Investors will be able to view the status of their deposits in real time with no effort if they use this feature.
6. Perform a search
Users should be able to search for active stocks as well as their current market rate in your stock trading software for investors.
7. Analytical tools
Participants in the stock market would welcome the ability to examine statistics and analyze the outcomes of their trades, transactions, and other activities.
Controlling the method through which the app gathers and uses sensitive information is one of the most important aspects of stock trading app development.
By its very nature, a stock trading app is full of data of various types – text, image, statistics, numbers, and so on.
It’s critical not to let your software become an information overload, which will turn off consumers who aren’t as enthusiastic about stock trading as their more deeply invested colleagues.