A Complete Guide to Stock Trading App Development Services
Trading was not as accessible two decades ago as it is today. There was an extensive period of time when investors used to call the stock exchange for purchasing shares and the stock exchange used to connect them to stock brokers who buy the stock. Flash forward to 2023, digital investment platforms have made buying and selling easy with the help of the top stock trading app development services in India. The availability of the Internet has made it possible for an investor to have complete control over their portfolio.
People now rely on trading applications to make some extra bucks aside from their regular income. With convenient trading mobile apps, investing in the stock market has become convenient and cost-efficient. Stock investment platforms are growing humongous. The stock investment domain is estimated to grow to $12.16 billion by 2028. It is high time for brokers and trading companies to consider stock trading app design solutions and get into a rapidly-developing economy.
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In this blog, we’ll go through a rundown of India’s stock trading app development services. With this, we will also take a look at various types of trading platforms and vital features involved in the success of these portals.
Stock Trading App Development Services – What Defines A Trading App?
A stock trading app is a mobile or web application where the exchange of stocks and transaction of funds takes place on a one-stop platform. These apps are developed to offer a simplified procedure of trading to investors. A trader and investor can execute any kind of transaction in the stock market at any time and from anywhere through a digital portal.
Recently, the number of people investing in stocks has increased drastically including young people, first-time investors, professionals, and tech-savvy. These people use custom stock trading apps for handling their funds and building a source of extra income.
If you have a stock application idea in mind, you can commence with mobile app solutions, given the drastic rise in mobile users across the globe. Getting in touch with a stock trading app development company is what comes after it.
Custom Trading Software Development – A Brief Market Overview
Trading software is a computer program that enables investors to place orders, execute market positions, and monitor trades. Every trader has different needs, and for that, there are various kinds of trading software available. The trading software is categorized into two trading platforms, Commercial and proprietary.
The commercial platforms focus on individual retail investors and day traders. This platform is easy to use and has many helpful features such as feature charts, educational resources, real-time quotes, a news feed, a simple user interface, and research tools.
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Propriety trading platforms are customized platforms built by large financial institutions, investment bankers, and financial analysts. It is not available to the public.
There are countless other trading platforms such as Interactive Brokers, TD Ameritrade, TradeStation, and Robinhood. These trading platforms can be tailored to specific markets such as stocks, options, futures, or currencies market. However, instilling robust features of trading platforms in your trading app will require technical knowledge. So, to provide a powerful platform for traders and investors, you can hire a trading app development company in India.
Cost of Hiring A Stock Trading App Development Company in India
Cost is a primary factor in building a brokerage app to make it successful and as broadly user-friendly as possible. Spending money on the right thing is necessary if you want people to trust your app. For that, you must create a simple yet effective user interface. It will result in repetitive user visits to your trading app to trade and exchange.
The average cost of creating a trading application is between $15,000 to $40,000. The charge of the application may vary depending on a few factors such as the app developer’s location, features, design, backend & frontend development, and many others.
To get a final idea of the cost, consult the best stock trading app development company that helps in designing top-class brokerage apps.
Pivotal Features of A Stock Trading Application
Here’s a list of some must-have features that will generate substantial engagement on your stock exchange application:
The registration feature in the application must be simple and secure with potent protection. The investors expect one-touch registration that strongly influences their first impression of your app. So, there must be an uncomplicated authorization process that includes ID check, email & phone number verification, or social media integration. It is also essential to provide clear terms and conditions to ensure user data safety.
2. User Profile
A personal profile depicts user performance to assist them in planning further actions and making more balanced decisions. It also includes the crucial details of users such as name, profile picture, language preferences, and contact information.
A dashboard gives an overview of the user’s portfolio and offers information regarding what’s happening in the stock market. A user can discover informative charts, user balance, portfolio value, and information about beneficial investment opportunities. It should be personalized and show data based on investors’ financial behavior as it is one of the best features of trading applications.
4. Trading system
The trading feature is the most conclusive component of the stock trading app for almost every user. Most of the apps have a broad set of tools for efficient trading. For example, stock-related information, balance sheets, share-performance graphs, profit margins, reports, etc. For utmost effectiveness, the trading section should consist of filter and fast search tools for commodity, index, currency, rate, and order tracking.
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Stock Trading App Development Services At Trank Technologies
Developing a stock trading app requires extensive knowledge of the technical aspects of app development. You may lack such expertise. However, you are never deprived of assistance that a stock trading app development company can provide. You just need to hire the right agency, and they will do the necessary job. Most application development company follows the following steps:
1. Decide the platform
Choosing a suitable technology or framework is the foremost step for these projects. You will get the clarity of the platform only through in-depth market research. Moreover, you need to pick the platforms through which your users can engage. A cross-platform app is the best option to construct an app since it is available everywhere.
2. Plan to secure application
Security is the foremost priority while a stock trading app development. It means controlling the procedure where the app collects and uses sensitive data. Security of an app can be ensured through the execution of multi-factor authentication, the incorporation of real-time threat intelligence, and application programming interfaces. A company providing trading app design and development services is the best person to secure the app.
3. Build a user-friendly interface
The next step is to create a user-friendly interface so that the information available on the app should not overload. A stock app usually has multiple data like images, text, statistics, numbers, etc. The strained information lessens the interest of people who are not interested in stock trading.
So, having a UI/UX design that is fit for a fast in and out time and retaining the detailed pages for the second or third click is recommended for the app.
4. App development process
At this step, the main task of developing an app starts. App development requires choosing a programming language and developing backend and frontend. Deciding on the programming language depend on the app platform. Owning a powerful backend is necessary where the two poles of a robust backend are database and server. The frontend developer should know about working with CSS, Java, HTML, etc., as he has to deal with the user interaction.
5. Testing of the app
Testing is a significant aspect of any app development, especially when it comes to financial technology because you cannot afford to lose people’s hard-earned money. Therefore, testing an application before its launch is essential as it helps you identify the number of transactions that the trading system can process per second. To ensure error-free trade a few tools like Sailfish, MTF, and broker system testing are there.
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Final Thoughts on Stock Trading App Development Services
Building an authentic trading app like Robinhood is a vital task to do, so keeping this complete guide in mind before proceeding will help you. Creating a robust trading app is not enough, especially when you have to monitor user experience on a regular basis. Need a trustworthy company for trading app design and development services? Trank Technologies is your partner in growth!
Trank Technologies is your trusted IT company with a decade of experience providing technology-related services to kinds of businesses. It has designed many fintech apps that work flawlessly and gives investors a user-friendly experience. Our experience in algorithmic trading app development, custom trading software development, paper trading application design, and CFD trading app development is something you can count on.