If you see today, then the stock market has completely moved out to the internet platforms from the past some years. Important necessary transactions and dealings are taking place on the computer with all the amazing features. Even though the revolution and advancement in mobile, there are not people who are making use of the free trading app that will help them to invest, transact, and trade when on a go. Several entrepreneurs and stock trading businesses as well as startups are now rushing towards this growing market of application to trade on stocks.
To develop and run such an amazing app will be quite a big challenge although since I have explained before about the challenges of developing a stock trading app required. Thus, if you are planning to try and cash on such a lucrative marketplace, then in this guide we will learn how you can build the stock trading application and how it can prove very beneficial in the long run!
What exactly is the Free Trading App?
Like we know that stock market trading and investing has been the most complicated segment that many people do not understand. Thus, we will try and start with the top trading apps and we will go further to understand more about this app’s incomplete details.
Stock trading apps: These apps are the website and mobile apps that will offer the commission-free stock trading of Exchange Trading Funds and equities with some real-time information. The best thing about the stock trading application is that the apps are actually meant for newbies and experienced and are also the best app in town.
Free Trading App: While it comes about the “free” trading app, then it offers users some of the most valuable insights about the top investment opportunities that they can have in real-time and without any cost at all. In addition, all the best investment apps offer their users some real-time trading updates about the best stock market too.
When we talk about the different free trading apps in the market, then Robinhood has actually secured the best place on our list. Thus, let us explore a bit more on this particular trading app for mobile and Android users and some of the amazing features that the users will find when they download this app on their mobile phone.
What is the trading app?
Generally, it is very quite clear: websites and applications are made to make life your simple and trouble-free for the modern person no matter what he is trying to do right now. Smart entrepreneurs, rather than resisting this trend, have decided to make use of the benefits just to increase business proficiency. With many other things out there, the brokerage companies have also started thinking of building an automated trading solution. Most of these have already succeeded in their attempt.
They were in the desire of developing the trading app as it allows things to control every time. Traders &investors will be able to conduct all types of transactions in a stock market whenever they want with complete ease. Obviously, the new opportunities have also increased the interest of people in this stock market platform that has become one amazing advantage.
How does such a trade app function?
The e-trade mobile application works really well for the stock traders &investors that like to trade often. This app allows managing the trader account, place proper trades; get the quotes in real-time. It is available for any kind of mobile device like iOS phones (Apple Watch), Amazon Fire, Android phones, Windows Phone. iOS and Android versions generally come with advanced features, for example options filters, stock screeners, and tutorials.
With the E-Trade application you have the complete range of investing and stock trading tools in your hand with complete access to these markets. In addition, you will get the coverage of the market activity, stock alerts, headlines, as well as more on this. Right from selecting the right menu, you will be able to set the quotes and cost highlights, follow the trends and pin some stocks to check the price changes and more.
This mobile free trading app is good for any type of traders, individual retirement accounts, and fund investors. About pros &cons, one interface for the traders, quotes, and advanced features are on the plus side. Alternatively, mobile trading is limited, involving mutual funds, exchange funds, stocks, and some more options. Android and ios are the main platforms for the E-Trade, whereas other devices might lack in functionality and productivity.
Important features to have in the stock trading app
List of some amazing features that you will find is quite long for the stock market exchange application. We have taken some in our following section. Ensure that you have these in your application version if you are planning to intervene in the success path of your leading players.
- Important to have the fund transfer functionality of any trading account
- Are able to check the user profile &authorization of the stock
- Type of stocks in the list for trading purpose
- Payment gateways must be honest
- Stocks status must be added in your account
- Important to have the feature of Buy and Sell
- Time tracking and synchronization planner needs to be checked
- Updated Personal profile
- Regularly check the market trends, statistics and analysis feature
- Simple messaging and Push notifications feature
- Stock trading and market integration
- Professional stock recommendation by the experts
- Encryption and security must be accurate
- Must have a history of stock holdings and more
- 24/7 Customer support
- Proper tutorials for the beginners
Does the stock trading app cost anything to develop?
For any growing industry, even fintech isn’t any exception and isn’t without any kind of risks that makes calculating stock trading price application development one trouble part. Firstly, one needs to choose on an operating system they would like to build the stock trading system for, and what features an end product can offer to their users as well as whether a prototype is required or not. From what country a client hires the software engineers to build the project influences its price heavily as a kind of cooperation between these parties.
These points are some impact factors. But, supposing one wants the application with a basic set of features, development process, quality assurance, and testing, and application design creation will take over 1000 hours. When multiplied by its hourly rate of over $35, the total cost comes to around $35 000. But, coming up with an exact sum is impossible &estimates are instead made for illustrating what minimum rate for given work scope is.
Building the stock trading application
Let us see how you can build the stock trading application and if it is possible to take these steps into consideration:
Start your project
Onboard the competent project manager, an experienced architect, as well as a team of expert business analysts with experience in working in the financial services industry. Also, you can build web &mobile apps that are the “Systems of Engagement”. Thus, you must make use of Agile methodology, since I have explained before which methodology will be best for the project.
Begin planning for “Minimum Viable Product” that involves the following:
- Arranging the discovery sessions just to know what customers want or what “value” is for them;
- Using certain tools such as “Pain &gain map”, the prioritization matrix, and more to prioritize some features for MVP and overall application.
- Conducting market research for getting proper insights;
You would be aware of a fact that stock exchange isn’t simple to understand. Thus, before you create any kind of stock trading application, startups have to consider some important points:
- The process of stock trading in an app should be very simple as liking somebody’s tweet on Twitter. It’s very important to provide a seamless process for trading that will only be provided when user-friendly design in an app.
- While it comes about creating simple-to-use applications, it is about user-friendly design that actually plays a very important role. The app user seeks out information about any kind of changes; monitors the market details from the stock exchanges and simple-to-use trading form in an app.
Define your project scope
To begin with, I suggest you support customers speaking in English and provide the following:
- Powerful Features.
- web app, Android app, &iOS app;
You must consider an app internationalization guideline such as keeping your code a bit separate from content while developing and designing any kind of app. This can help you to provide language support in the near future.
Thus, today the market for the free trading app appears to be very lucrative, but, it is most competitive. Your app should stand out. You can expect a development project being the most complex one, because of stringent data safety regulations. Take a little help from the reputed program development firm, and find the top software development firm.