For those who have spent some years in the business of stock trading, they can tell that it wasn’t rosy navigating the market.
Sure, these folk can tell how rigorous and stressful it was, mainly when contacting the stock exchanger. In case you never knew, these stock exchangers had to contact some stoke brokers who definitely will charge you some money before they can help you to buy stocks. If you had a first-hand experience of this whole process, you will understand how frustrating this entire process could be.
Well, it is nice to see those old and difficult days gone, and gone for good. Today, stock trading has taken a completely new shape. Yes, talking about stock trading’s new look, I mean brokerage firms as well as other investment platforms having to carry out their stock trade right from their palm. With the advent of stock trade apps in mobile phones, these folks can now trade at their own pace right on the move without undue consultation and waiting.
While you hope to join the league of stock app developers, there are a few things that you have to be well rooted in for you to design and build a stock trade app that will give users seamless trading experience. So, pull up a couch and learn something new about developing a stock trade app.
Why Should You Invest In Stock Trading App Development?
It is a known fact that there is a huge user-base across all age groups for the stock trade app. But besides this, there are other enormous benefits of developing a stock trade app. Such benefits cuts across yourself as well as the stock investors. Some good reasons to invest in stock trade app development include:
- Busy investors have access to a quick update on how their investment portfolios are thriving in the stock market. With this, investors can easily give their consent to being a paid member of your stock trade app. (Sure, you understand what that means to your bank figures)
- Developing a stock trade app increases your chances of having those bucks flying into your bank account, and also making you famous for being the brain behind why others are earning hugely without hassles.
Steps Involved in Stock Trading App Development
Now that you’ve seen reasons why you should invest in stock trading app development, it is obvious that the next thing you’ll be considering is how to take the first step. Here are a few but very crucial steps you need to follow to develop a stock trade app.
Know More About Stock Trading
Without a proper understanding of how the stock trading market works, you can’t build a good stock trading app like Robinhood, E-Trade, and the likes. In order for you to understand the stock market trade, you need to undergo an in-depth stock market training program that will guide you through the basic and advanced technicalities in developing a good stock trade app.
Understand Front–Backend Development
Essential Features of Successful Stock Trading App
Every stock trading app has some basic features of stock market trading in common. So, to design and develop a stock trade app that will have a common ground with competitors, your app must contain the following features:
- Check-in process
Log in, and the authorization process has to be very easy and seamless for users to access their stock trade account. You can use simple login options such as a password or biometrics to ensure that their check-in is easy and at the same time, secured.
- Real-Time Portfolios
Having a clear understanding of their stand per time is very important to stock traders. So, in developing a stock trade app, users should be able to have real-time updates about their portfolios.
- Search Option
In a stock trade app, a search option where users can easily search for active stocks, as well as their current rate, is very important
One important feature of a stock trade app that users appreciate more is the ability to see their daily statistics. With this, they will be able to analyze what the result of their trades will be.
- Putting Trades on Stocks
Another good feature of your stock trade app is giving users access to execute orders as well as monitor their fund’s flow.
With the deposit feature in your app, investors will be able to see the current status of their deposits in real-time without going through so many hassles.
- Push Notifications
In your stock app, users should be notified of how their stocks have moved, and this should be timed in such a way that it doesn’t turn out to be an unnecessary distraction to users.
- Information Security
Generally speaking, stock trading comes with lots of risks. As a result of this inherent risk, when developing a stock trade app, it must be one that gives utmost priority to the information of users. By this, integrating some security measures at various stages or aspects of stock trading can help to safeguard users’ information, especially for extended trading hours.
- Interactive User Interface (UI) Design
The ease of use in a stock trade app plays a key role in users’ experience. Stock investors are known to constantly observe market statistics, whether they are favorable for trading, and they are always searching for data about a stock market variation regularly. So, while developing a stock trade app, your app should help users to do all of these conveniently as they navigate from one end of the app to the other.
Obviously, for you to read this article down to this point, it is a clear indication that you are all out for a stock trading app development. So, what then is left is knowing how much you are likely to invest in this project. Below is an estimated cost for each of the processes/stages that you’ll have to go through to get your stock trading app running on many mobile devices.
|Development Phases||Estimated Hours of Work||Average rate per resource|
|User Interface design||About 50-100 hours||Approximately $50/ Hour|
|Front-End development||About 400-500 hours||Approximately $60/ Hour|
|Back-end development||About 300-400 hours||Approximately $30/ hour|
|Other forms of app testing||About 100 hours||Approximately $30/ Hour|
Developing a stock trading app seems to be a lucrative idea to venture into. This, in part, is due to the large user-base which stock investment pulls. However, doing this comes with a cost – and that is taking note of some important factors that will help you to design and develop an app that many stock investors will want to have on the go in their mobile devices.
In case you’ve thought of where to start from, the content of this article will guide you through the development of the release of your stock trading app.