The Roadmap to a Smart Stock Trading App Development

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Maharshi Pancholi

Head, Mobility | Salesforce | Digital Transformation

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The investing world has evolved faster in recent years, with more investment platforms moving into the digital world. Stocks trading on mobiles is not just a new black in e-commerce. Smartphone stocks trading applications allow investors to trade from anywhere in their lives. 

DIY investing seems popular among millennials. However, other categories of people also pay interest in mobile platforms, so coding mobile apps provide a decent amount. Moreover, we have good prospects.

This software helps you avoid additional costs by gaining an investment tool advantage. Innovative technology is one of the major causes for the advancement of the technology industry.

[Also read: Importance Of Web Security For The Ecommerce Industry During COVID-19 Pandemic]

Image Source: Infogram

In 2020, stock trading app revenue surged to $10.9 billion, and Robinhood happens to be one of the popular stock trading apps in the US.

This makes it imperative for you to understand the stock trading app development, the whys, and hows to offer your users a valuable and interactive app.

In this article, we will provide you a comprehensive look at different aspects that you must consider in stock trading app development:

  • Overview of a Stock Trading App
  • The Roadmap to a Useful Stock Trading App
  • Why You Must Invest in Stock Trading Apps?
  • How to Determine User Demographics of a Stock Trading App
  • The Must-Have Features in Your Stock Trading Apps
  • Popular Apps in the Stock Trading Market
  • Different Types of Stock Trading Apps
  • Traditional VS Online Stock and Crypto Trading

Overview of a Stock Trading App

A stock market application is an online system that allows users to easily purchase, sell, and manage stocks on a trading platform, managing and updating investments, as well as choosing solid strategies.

Advanced trading platforms enable users to control everything throughout the process, making them ideal for long-term investors and shorter-term deals. These platforms have two primary forms, traditional as well as crypto-centric.

These applications operate proven assets such as gold, stock, and currency. It allows customers to make famous investment decisions and is famous and demanded by market users.

These stock trading apps have paved the way for online trading and are a specimen of successful trading apps. During the last three quarters of 2019, users reported 4.2 million daily trade transactions.

Robinhood has close to 13 million users and offers trading in virtually every amount available. The key advantages of this platform include:

  • Commission-free trading.
  • A highly intuitive interface.
  • Fee module that taps on younger customers who have limited money to spend.

A well-known trading system can be used to start new investors or as a beginner’s tool to gain experience.

Understanding the Fintech Market

Maybe you don’t know this, but you have logged into the financial sector using the application. Financial reporting explains new technologies that aim at improving user and service experience. Financial services enable companies to improve customers’ lives through the use of computer technology and software.

Fintech is a term used to describe various technologies, solutions, products, and business models that lead to changes in financial service sectors.

FinTech is an encompassing service and technology business segment. It operates a direct market rival to banks and the equities sector. Almost 30 percent are implementing a new FinTech technology and embracing this trend.

Banks will continue to invest heavily in fintech in the future.

Image Source: FinancesOnline.com

Software companies like us have technical expertise in developing stock trading apps, and your profound industry knowledge can assist us in making an application suitable for the target audience. It has to be monetized and make a profit.

A simple but obvious method of earning profit for stock trading apps is through commissions. This service collects interest from deposit transactions and stocks transactions. These are the fundamental monetization strategies for most trading applications.

Robinhood’s mobile applications use an identical strategy with an add-on free model. All essential products are accessible to all users, but other features can be downloaded free of charge.

Are you ready to develop a reliable stock trading app with the latest features?

Get in touch with our experts!

The Roadmap to a Useful Stock Trading App

We’ll look at building a marketable stock trading app for any software developer. The project includes the following stages: Typically, for fintech app development, the Agile method is applied.

Following these approaches, a concise cross-functional team works closely with applications developers. The whole process needs to be accounted for in the production and clog documents.

In general, android app development company include designers, developers for frontends and backends, Quality assurance QC and skilled engineers, and a reliable project manager ( PM ).

These are a few essential steps that you must be mindful of to build a good stock trading app:

Discovery Phase

Upon validation of the product, the initiative of developing the product is shifted into a business-oriented roadmap.

For a successful trading platform to be developed, you must have a skilled team specializing in financial software development. In addition, you’ll need business analysts and marketing professionals to join research activities.

The Development Process

Development is split into several areas: mobile and web front end, backend iOS and mobile apps, etc. To build native apps, you’d need developer support. 

Front-end development uses the client part to create the application. The most frequently used tools are CSS JavaScript, and you need a good programming environment for implementing a web application.

Image Source: VILMATE

UI/ UX Design

Stock trading is a particular industry, and design work is critical for easy navigation and management. To create the user interface for an Android app, you must comply with Material Design Guidelines for Android and Human Interface Guidelines for iOS.

This is different from smartphone applications that use bezel-less screens. It is possible to follow Jakob Nielsen and Rolf Molich’s Heuristics, Ben Shneiderman’s Gold rules, or many more commonly accepted methodologies. One of the most important aspects of this app is the visual aspect.

Formulation of the Development Approach and Tools

We can also decide what the application type should be. Professionals study every feature, pros, and cons in the development environment to select the optimal development approach.

Testing, Delivery, and Maintenance

In addition, to complete mobile app development, engineers carry out complex testing for devices. The QA service helps identify and remove bugs and build appropriate functions.

To help test more efficiently, engineers use smartphones or mobile devices and Browser Lab on-Cloud. QA, quality and functional and non-functional requirements are testing guarantee defect-free system operation. You can finally sell your stocks trading app on the App Store. It’s also not a final piece.

Why You Must Invest in Stock Trading Apps?

The stock trader app has many unique features, offers commission-free trading, and sends useful information to stock market enthusiasts. Similarly, some companies provide free stocks when friends welcome their platform for free.

This app is generally fairly popular, belongs to the Financial App category, and is renowned for its high penetration percentage. For example, in September 2019, Android finance mobile applications penetration rates reached 25.75%, according to Statista.

E-Trade

E-Trade was an early pioneer for online investments. The business was founded in Silicon Valley and promoted online trading through America Online or Compuserve.

Then they launched the Etrade app – a top stock-tracking application. It can be used to see a list of investments in ETFs or shares. These are all the best stock market business apps for which you’d want to target a particular market when it comes to trading. Again, the list of useful apps is quite vast.

Let’s see what features of FinTech applications can help guide you in making your way into the stage where the best stock market trading apps exist today.

Image Source: BusinessInsider

Have a Plan to Secure Your Application

In stock trading apps, controlling how the apps collect and use data is a crucial consideration. This step is taken to ensure a 100% safe application – Finalize APIs that fit high-frequency trading software Developing a stock trading app is a technical challenge.

This problem usually focuses on integration with API providers. The best way for your mobile apps to work is to understand what APIs to implement to achieve optimum security. 

How to Determine User Demographics of a Stock Trading App

It’ll be very important to target these four user types for your design, development, promotion, and a specific market in which you will be able to focus your efforts.

According to Statista, online trading companies can attract many users from the Millennial demographic in 2018.

The Must-Have Features in Your Stock Trading Apps

In many cases, the application has the same basic functions. However, to gain an advantage in the market, you must polish the core function and include cutting-edge solutions to attract customers.

Here are a few essential features that you must include in your stock trading app:

Notifications and News

Push notifications help track stock movements. Take into account beforehand when a notification is sent. It must be adequately planned so the user cannot distort. Newsfeed keeps investors updated. The stock trading platform provides important trading features for beginners compared to professional users.

Stocks may be impacted by local and international events, which are shown in the quotations. Players must always know the newest news. The feed allows users to view the current exchange rate and share information.

Registration and User Profile

Web and smartphone users generally register individually in their accounts to use their apps. Multiple factor authentication allows users to log into their profiles after their profile was created.

An added advantage is to register via social networks. The account list shows the users with specified preferences. USER should: An added feature of sort and filtering is useful. It provides an intuitive way to showcase data in a readily available format.

Image Source: SemiDot Infotech

Data Analytics and Experts

How will your website be distinguished from other apps? Use data analysis to analyze trade data, transactions, and investment data.

This software helps traders monitor their results in charting or reporting. It can be expanded through robot analysis. It can help users create a portfolio, invest dividends and manage taxes. Robo-experts, including robots and acorns, can integrate with CRM systems, banks, and research software.

Search and Deposits

You can find active stock and its current price on the market by using your stock trading application. Investors who use the deposit functionality to view deposits in real-time without spending much money.

Popular Apps in the Stock Trading Market

It’s an exercise that can help you establish your online trading platform and check out the leading apps. In addition, we could find some useful things that we could borrow for the mobile investment we need.

Robinhood

Established in 2013, Robinhood has a reputation for becoming one of the top fintech apps. From its beginning, the app attracted many customers with more than 1 million subscribers.

Highlight: Robinhood became the first app to introduce commission-free trading. Many other competitors followed suit and canceled or reduced their trading fees. What do you think is a good thing to know?

TD Ameritrade

Established: 1974 Description: Since 1984, Ameritrade is an established trading platform. It offers mobile trading tools and personal assistants that make trading easy and quick.

Highlight: Ameritrade can be used on as many platforms and mobile devices and includes two different mobile trade applications and a smartwatch app, as well as a desktop and a website. Other Fintech App Development Guides.

Acorns

Acorns is an alternative approach to investing, targeting novice traders as an effective way of maximizing their cash flow. It also offers portfolio management according to user age, risk tolerance, wealth, etc.

Acorns have an automated investing platform where users can change for them to invest. This article discusses acorns against Robinhood versus acorns stashed in the news. 

Highlight: The app assists in establishing a regular investment habit while focusing on long-term savings. The company is also partnering with companies such as Airbnb for cashback automatically invested in.

Different Types of Stock Trading Apps

The possibilities for making stock trading applications are diverse. Describe the most likely options for developing trading platforms.

Day Trading Vs. Investing

Other prominent features of these applications are that some can be best suited for the trading day while some may be better suited for investing. In addition, some trading apps, such as M1 Finance, do not permit users the possibility of multiple daily trades, making day trading in this form ineffective.

Image Source: Invest Mindset

Users can use these apps rather than invest. Some apps are ideal for day trading and combining features you would expect with user-friendly applications geared towards long-term investment purposes. So be attentive to the customer’s needs while creating stock apps.

Trading Software By Platform

Depending on target audience preference, you may create trading apps compatible with websites and mobile applications. The trading apps may differ from smartphone to smartphone. Several major industry players have as many platforms as possible.

Take, for instance, the Fidelity trading application. There is no app available for smartphones or iPads. As a result, this company has invested heavily in developing trading applications that enable customers to access their goods through platforms.

Educated Vs. Novice Investors

Some mobile electronic trading systems may be best suited for beginners. For example, this is an app like Acorn, Stash, or Robinhood. Other platforms include Ameritrade, e*trade, which require more learning.

You can find everything you need on a trading app aimed at the newly arrived investor. However, the professional investing application offers more sophisticated options such as customized or 4-legged spreads. So keep that in mind when developing the stock trading app.

Traditional VS Online Stock and Crypto Trading

The classification of trading platforms can vary, and we have also described the most straightforward option here.

Stocks & Cryptocurrencies Online

Online shares trading is used to buy and sell stocks online. Share trading is easy to do without agents from your share exchange account. In contrast, crypto types are more specific; for example, everyone knows Bitcoin, Ethereum, etc.

Image Source: Inventiva

The trading platform uses the management of these assets. These men generally sell or purchase these items and make all kinds of transactions and many more.

Bottom Line

This all-inclusive guide about stock trading app development can help you understand different aspects of the process to build a user-friendly app. As an entrepreneur, it is important to understand your user demands and invest in the application to earn better returns. 

About Maharshi Pancholi

Maharshi is an expert in business ideas and strategies. He has always been associated with IT across multiple domains: retail, automobile, education, healthcare, BSFI, and others. He has helped many startups grow their businesses by providing innovative business ideas that have worked wonders for them. To discuss more about your business ideas and strategies, feel free to contact Maharshi.

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