How To Develop Trading App: 5 Easy Steps To Follow

By Maryna Cherednychenko

Digitization is absorbing more and more areas of daily life. Stock trading is no exception. Today, investment projects are not only for narrow-focused firms. Thanks to trading platforms, everyone can easily invest and earn money. According to Statista, the age of trading apps users varies from 18 to 60+ years. It proves the raised interest in such services and their hasty growth. This article will look at what a trading app is, the most popular services, and how to build your own trading platform.

What Is Trading App?

Here are just a few benefits that users get from online trading:

Easy access. Anyone can download the app and start trading. Installation and registration take just a few minutes. It is much easier and faster than offline trading, which involves going to a specialized company, consulting with a broker, and deciding about a particular investment.

Cost savings. For both users and brokers, a trader app is a money-saving tool. While the former ones do not need to spend for intermediaries, the latter save on office maintenance.

High flexibility. A trading app allows placing trading orders anytime, anywhere. The user can run the app at non-working hours or while on vacation and fully control the investment activity.

Fewer mistakes. Working with the securities market without intermediaries, users minimize the chance of errors during trading. Thus, they are one step ahead of offline traders.

Ongoing monitoring. With constant access to the stock trading app, users stay updated about any changes and timely adjust their trading strategies.

Trading app benefits

Examples Of Best Trading Apps

Robinhood

Strengths

  • ability to work with fractional shares
  • user-friendly interface
  • cryptocurrency support

Weaknesses

  • no way to work with retirement accounts
  • inability to invest in funds and bonds
  • customer care needs improvements
Robinhood app

Acorns

Strengths

  • hands-off investment experience
  • support of retirement accounts
  • low price

Weaknesses

  • limited investment portfolio
  • absence of tax strategy
  • mandatory monthly fee
Acorns app

E-Trade

Strengths

  • risk assessment tool
  • futures ladder instrument
  • no commission for stock trades

Weaknesses

  • high fees for some products
  • no way to integrate with a bank
  • slightly off usability
E-Trade app

Essential Features Of Trading App

1.Sign Up. Users start their journey from account creation and authorization. It is essential to make these steps fast and straightforward so that potential customers do not lose their enthusiasm to interact with the app. Don’t forget to establish a secure checkout using passwords and biometrics. It will enhance app protection and grow brand confidence.

2.Personal account. Here, the user should be able to add, edit, and delete personal data, enable or disable notifications, and adjust trading-related settings. You need to implement the transaction tracking and quotes monitoring features to let users see a real-time picture of their activity.

3.Trading tools. This will be the core of your stock trading platform. First of all, you should make a precise mechanism for placing orders and monitoring funds move. Also, it is necessary to take care of different investment tools with manual and automatic modes.

4.Deposits. This feature aims to keep users updated about long-term and short-terms deposits and their statuses. The users would appreciate it if you let them access real-time data with minimum effort.

5.Search. Enable users to look for active stocks and see their current rates. It will add value to the investment decisions and help benefit from using your custom trading software.

6.Analytics. Be sure to add valuable insights to your app. Help users evaluate the correctness of their decisions with detailed reports and easy-to-use visual diagrams.

7.Push Notifications. The alerts would inform users about stocks’ up or down rates, dividends, transfers, earnings, and more. With this feature, the main thing is not to overdo and give users an easy way to adjust the content and frequency of messages received.

8.Newsfeed. This feature is helpful for both novices and experienced traders. It helps be abreast of global and local trends and make cleverer investment moves.

Trading app features

Five Steps To Develop Trading App

1.Choose platform and features

Besides, you do not need to immediately spend a lot of money on a project, which may turn out to be unprofitable.

2.Define tech stack

3.Decide on third-party integrations

4.Create organic design

5.Test and deploy

Steps to develop a trading app

Building Trading Platform With Softensy

This article was originally published at Softensy.

Softensy specializes in fintech development and enterprise-level apps. Our team helps companies automate business processes by developing software solutions.