Do you want to make a stock trading app?
Well, you are on the right track if you want these two things at least: get hundreds of billions of dollars and also change the way people make investments. Investment trading impacts people’s lives in more ways than one. How to make a stock trading app that makes millions of bucks? Yes, we are going to let you in on the secret!
It is not just you and we who are showing interest in this. According to a report by Thinkwithgoogle, since 2017, searches related to ‘investment apps,’ ‘home advisor app,’ and ‘penny stock trading app’ searches have surged by 115% YoY.
|Industry net revenue||$5.3 trillion (traded every day in the forex & trading markets)|
|Licenses required||From SEC (Security and Exchange Commission), in the USA|
|Monthly active users in the US*||50,000,000+|
|Top apps available in market||Robinhood, TD Ameritrade, Fidelity, E*Trade|
|Provisions||Stock trading, crypto trading, mutual funds, forex|
|Net downloads in the US||1,000,0000,000+|
|Development time||6-15 weeks|
*Based on Google Play Store, Apple Store data
What are stock trading apps?
Stock trading apps make billions of dollars by allowing young investors to indulge in trading markets with zero trading fees and nominal account fees. How do they do it, and what makes them so profitable? Let’s explore all those stock trading possibilities one by one.
How to make a stock trading app that would go on to gain popularity? Okay, here this out:
The stock trading apps became popular because they offer many features that are not possible without having access to an app.
Here are a few reasons why:
Does that mean that creating the stock trading app is a proven way to ensure the constant flow of revenue? Read on; it gets better!
Firstly, can stock trading apps be divided into various categories? Of course, many categories, but, to break learning into simpler terms, let us know the two main categories:
Traditional assets like stocks, ETFs (Exchange-traded funds), expensive and precious metals, etc., had been on the stock list for ages. These renowned assets are provided for trading on several stock trading platforms.
Cryptocurrency is a whole new culture in itself. Many young and informed traders like to trade in well-known cryptocurrencies such as Etheruem, Bitcoin, Litecoin, etc.
Let’s take an app as an example to understand what the stock trading marketplace is:
Webull is also one good example of a successful stock trading mobile application. Till now, it has got 10 million+ downloads. Like all other top-ranking investment apps, Webull also follows the policy of zero commissions, and no minimum deposits.
A stock trading application can be either mobile-based or web-based. But, what standard features do Webull and other such stock trading apps have to make them shine in the crowd?
E*Trade is a major platform to do stock trading. Furthermore, It has a rich library of educational resources and professional trading standards, along with two mobile apps— Android and iOS versions. Just like E*Trade and other popular investing apps, let’s understand what common features all investment apps have:
And, there are several other features such as push notifications, search options, sorting systems, and so on.
You must also know some strategies for day trading to get you to gain maximum profit out of all investment moves you make.
The best way to make use of all the strategies and knowledge of stock trading is to create a stock trading app of your own and, along with your motive, get thousands of young investors a platform.
Have you ever wondered— what if I build a stock-trading app and change the face of the stock market? It is a good sign! And to reaffirm your idea, let’s discusses what goes on in its making:
You would require a team set including the project manager, IT developers, Business Analysts( BAs), UI/UX designers, Testers, and marketers. However, the roles of all these professionals are divided into different steps of the app development process. The steps are:
An app idea will always start with market research on your target audience. Once the research work is done, you can decide what platforms your mobile app will build on. Because without knowing the platforms, you cannot work further.
The platforms can be Android, iOS, or website apps.
However, the best option is to build a cross-platform app that can be made available on all platforms. A cross-platform or a Hybrid app provides increased visibility from the initial phase itself.
You must have chosen the app platform by now. Therefore, the next step is to select the programming language depending on the app platform. As such, there are many languages available for programming, but some are most preferred over others. For iOS, the developers prefer Swift or Objective C, while for Android, the experts mostly prefer Kotlin and Java.
You need to develop server technology to have a strong backend. Because the two pillars of a robust backend are— database and server. So, always hire someone with an incredible amount of experience in architecture, database, and software understanding.
Server Framework: The first need is to design a server framework using any of the programming languages. For creating a stock trading application, many languages are optional, like Python, Ruby, MSSQL, Oracle, .Net, Java, etc., which are all relative databases. Not to forget, some distributed databases like DolphinDB and SingleStore are also used.
The developers have to understand the preferences of the client before doing front-end development. The front-end development deals with the user interaction side of the application. The developers should have knowledge and experience working with languages like Java, CSS, HTML. And also skills in complex building systems like React, Angular, JQuery, etc.
The other three important aspects that you just can’t do away with are:
E*Trade is listed among the top trading apps because of its user-friendly interface.
Besides these steps, a stock trading app has a lot many in-depth processes of development; you can check this How to Make a Stock Trading App? Everything Explained | Idea Usher, and get a clearer idea on this. Now, moving on to the money matters,
The cost of development can vary depending on the time taken, so let’s check out an estimate of how many hours can a basic stock market app takes to develop:
|Features||Time (in hours)|
|User Profiles||42 hours|
|UI/UX Development||42 hours|
|Home Page||83 Hours|
|Search & Filters||94 hours|
|Payments & Transactions||43 hours|
|Authorization & Security||60 hours|
|Market Calendar||20 hours|
|Real-time Quote Updates||30 hours|
|Web/ Mobile API||62 hours|
|Buyer Panel||16 hours|
|Admin Panel||16 hours|
Apart from the working hours, team selection also affects the total cost of development. You can get a permanent dedicated team for your application or website, or the other best way is to hire a development team that offers you a package of:
So, till now, the trading app development process seems to be going fine. Now, we will know what features make the app great! Here are three features, in particular, that could help create a robust app:
API is used to connect software that helps run your trading platform. So, having a powerful API system will allow the application to run its best business strategies. A few steps to understand:
Just like a storm surge after a calm sea, the loopholes can also become public if they are there. Therefore, get all security tools ready and working to create trust among the app users. Some of the ways can be:
As for legalities, consider these three aspects :
Once you have looked into the licensing issue, which is crucial, you can safely move on to the other aspects of application development.
Often we get confused as to which is the best way to create a trading platform?
Firstly, you have to decide whether you want a website-based application or a mobile app. Generally, an app provides more functional flexibility.
Henceforth, you can create an app for Android or iOS or prefer a hybrid app. Mostly, for iOS, Swift is the advanced language choice. And, for Android, you can opt for Java or Android Studio for app development.
Stock trading enthusiasts always keep checking What is the best stock app for android 2021 and why? Here are the top 4 trading apps and the reasons why they are ruling over other apps:
Apart from finding trading opportunities for newcomers, Fidelity investment is also profitable for many who have long-term investments goals like retirement planning. They offer two trading platforms— one for active investors and the other for other basic investors.
Fees: Zero commission fee if you are trading in stocks, ETFs, and options trading
Account minimum: No minimum deposit is required
|Extensive research feature||Limited charting options available|
|Impressive investment and trading features, that satisfy most traders|
Read our: How To Make Stock Trading App Like Fidelity | Idea Usher for more information on this top-grossing app.
E*Trade has had a successful long-run since it opened in 1982. It is a trusted brand with many users of the app using it for years now. The technological advancements that the app includes with its update have played a significant role in the uprise of E*Trade. Some notable features of the app include online screeners, prebuilt portfolios, thematic investing, and technical analysis tools.
Fees: Zero commission fee if you are trading in stocks, and ETFs
Account minimum: No minimum deposit is required
|User-friendly mobile application interface||Only bank transfer of amounts is possible|
|The trading fee is low and research tools are in abundance||Not yet opened its doors for forex trading|
TD Ameritrade is also a big name in the online stock brokerage field. It is a free trading platform with its website, mobile app, and Thinkorswim platform designed especially for active traders. Some of the nice-to-have features of TD Ameritrade include various order types such as Market, Limit, Trailing Stop %, Stock Market, Trailing Stop $, and Stop-limit.
Fees: Zero commission for stock trading, EFTs, and options trading
Account minimum: no minimum deposit is required
|A vast variety of assets and types of accounts.||Schwab acquisition has hanged its future mid-air|
|Less cost of accounts|
Robinhood is a free stock trading app that has grown widely popular because of its real-time information-providing feature. They provide information on quotations and also the trading shares of companies. The app monetizes through accumulated interests of its users’ accounts. Among the industry people, Robinhood is famously dubbed as ‘the Amazon of financial services.’ It can soon become the no 1 trading app!
Fees: Zero commissions for stock, ETFs, and options trading
Account minimum: no minimum deposit is required
|Fast and easy app speed||The product range is limited|
|Mobile and web trading (both platforms) are provided||Research material is less diverse|
Whenever a doubt enters your mind—are there any free stock trading apps out there? You know the answer— almost all the top stock trading apps offer basic app usage for free. So, why wait? Make an investment app and get the most out of it!
Stock trading apps are taking the front seat because the millennials are more cautious and active in all their financial endeavors. They like to invest their extra money to earn a side income. Some have passion and an innate interest in stock trading, while others want to invest and save for their retirement lives.
All in all, you can answer the ‘how to make a stock trading app?’ question, once you start making one. So gear up and don’t wait too long, Idea Usher is here to help.
For more information on this, contact us.
Yes, the top trading apps are so trusted because of their reliability and security. If you ever create an app, make sure that your app has all its safety and security features.
An online brokerage system is a simple brokerage system, same as any ‘brick and mortar one, only that this one has all things online. You can access the facilities through an app.
Native apps are created for specific platforms like Android and iOS. Moreover, a good developer will always prepare a strong framework for the app. App creation, designing, and development take a lot of time. So, yes, it is lengthy, but the outcomes are also incomparable.
Almost all online stock trading apps let you day trade. But many of us have doubts about how much is the minimum amount? $100, yes! Many brokers allow a minimum of $100 as the starting capital.
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