The millennial generation had to witness more than one financial crisis that affected the entire world. 2020 brought even more challenges for them to deal with. They saw how their family members lost the money they kept in their banks. That’s why the youngsters of today invest in stocks. With a smartphone in their hands, it has become much easier for them.
Whether brokers, investors, or other participants, everyone associated with the stock market are already leveraging the benefits of mobile and web technologies in their individual practices. The best example of digitization of the stock market is a stock trade mobile application designed by a reputable and recognized mobile app development company in Houston.
Now, such an application is an effective solution, but it isn’t the only one. There aren’t any perfect applications available, either. However, you have the chance to create one. If you’re willing to try, you should go through this write-up first. Here you’ll learn how to build one.
You’ll also find examples of the most widely used stock market apps used in the USA in this blog.
When it comes to stock trading, the term “FinTech” will inevitably be part of it. Have you ever paid for a product or service using your phone? Did you transfer money to the seller using a mobile application? It can be anything from bank transfers to tax payments. If you’ve used a mobile app, then you’ve already become part of this industry that’s earning billions of dollars.
FinTech fundamentally encompasses a massive range of technologies, products, and models of business with the power to change the industry of financial services. You’ll run into this term just about everywhere, but it isn’t a buzzword. It’s a business spanning the entire world, and it has already disrupted conventional financial markets.
In other words, FinTech isn’t something futuristic or a fantasy. A few examples of FinTech include crowdfunding platforms, virtual currencies, cashless payments, and Robo-advisors. Technological advancements like these are revolutionizing the sector of FinTech.
It’s perfectly logical for you to want to know why you should hire a mobile app development company in Houston to create a stock trading application.
There’s already an immeasurably large user base for this app category. This user base also covers folks from multiple age groups. Additionally, the ease of using such an app is one of the most powerful reasons.
With a stock trading application, even the busiest investors will stay abreast regarding the performance standards of their portfolios. In return, they’ll happily pay for the exclusive features your app has to offer. Indeed, you won’t have to build an entirely free-of-charge stock trading solution.
Regardless of how you look at it, the chance of benefitting in terms of money and popularity is quite high if you consider getting a stock trading application developed.
These are the 5 most popular stock trading applications you need to check out before you move on to building yours.
This one is a user-friendly stock application that facilitates trading in options, stocks, and cryptocurrencies too. Bitcoin is one of the cryptocurrencies traded via this application.
The users of Robinhood have access to an exclusive feature of cash management. Users can use it to earn interest against cash balances.
Furthermore, if users pay $5/month to avail of the premium version called Robinhood Gold, they’ll have an interest-free margin of $1,000, as well as access to the stock research reports of Morningstar.
If you’re going to invest specifically in iOS mobile app development services, you should check out Webull. It’s a stock trading platform that works on iOS mobile devices. It also offers more features than its competitors’ mobile applications.
Users can trade options and stocks without worrying about commissions of any kind. Investors who prefer using margin will love Webull because it offers incredibly low rates.
New investors will also get the opportunity to leverage the “Paper Trading” feature of this platform. It’s a virtual simulator for trading that lets users learn the methods and strategies of stock market investment before risking their hard-earned money.
SoFi Invest provides both automated investing and active investing services. It even lets investors trade their cryptocurrencies. You should also know that SoFi Invest provides conventional and Roth IRAs, unlike most of the other trading platforms described here.
The best thing about this platform is that all the features will be available to users in one highly-rated mobile application. The creators of this solution wanted it to for an all-inclusive financial community.
Also Read: Which 8 Cross-Platform Frameworks For App Development Should You Use In 2021?
Cash App has the power to give its users the best “no-frills” way of buying and selling stocks. The platform is extremely user-friendly through which an account owner will be able to trade stocks and fractional shares.
Unfortunately, advanced traders seek more options that the Cash App is unable to deliver. It doesn’t have margin investing or options trading. The trading platforms available aren’t sophisticated. Also, users won’t get any educational tools concerning stock research.
Cash App is best for those who want to purchase and sell stocks occasionally, but even for such a beginner-level solution, you’ll need the best iOS mobile app development services to succeed.
Fidelity is yet another highly-rated stock trading mobile solution. It’s quite impressive for a broker without an app, especially if you think about the impact of disruptive trading solutions on the industry. Apart from being user-friendly, the platform of Fidelity is exceptionally customizable.
Users should be able to set up customized news feeds, deposit checks, pay bills, and inspect stock research info in this application.
There are many other stock trading applications for you to draw ideas and inspiration from, other than the ones elucidated above. You should begin looking for iOS mobile app development services once you explore more examples.
Now, you’ll go through the features you should consider including in your stock trading mobile solution.
There has to be an authorization procedure that should be extremely easy to take care of. Users shouldn’t feel that the check-in process is a burden.
If possible, you should provide different check-in options, such as biometrics, pin code, etc.
You must give your users the option to save personal info and preferences associated with notifications. Or, you can do it based on the frequency at which they expect their accounts to get debited.
This one is an obvious feature that every stock trading mobile application should have. You must give your users the opportunity to execute orders and keep tabs on the fund flow.
No matter how many FinTech app development agencies you get in touch with, everyone will ask you to pay the mobile app development cost to display updates in real-time for the benefit of your users. It’ll come in handy for a user whenever he/she invests in your platform through time and money.
Users deserve to view their portfolios in real-time. Also, the updates should give them a clear idea of where they are at that time in terms of investments.
By using this feature, investors will get the chance to inspect the status of a deposit in real-time without putting in too much effort.
The stock trading app you create should give users the option to seek out active stocks and the current rate of the same in the market.
Every stock market participant will surely appreciate it if you give them the opportunity to explore statistics, as well as scrutinize the results of their transactions, trades, and more.
The mobile app development cost you need to pay to integrate the system of push notifications into your app isn’t something you should avoid paying. With push notifications, you’ll be able to notify your users how their stocks move.
Timing is crucial, though. You need to be careful so that you don’t bother the busier investors with mistimed push notifications.
This feature doesn’t get as much attention as it should. Nonetheless, it’s a mission-critical feature of every stock trading mobile application.
Not every user of your app will be stock-market-savvy. Some of them will be amateurs, and they’ll need the news feed to keep them informed about recent events occurring in the stock industry.
Just like every other mobile application, stock trading solutions designed by a mobile app development company in Houston can increase the efficiency and effectiveness of a user in their private and public lives.
Stock trading applications exist to support users searching for powerful stock trading solutions. The right product will encourage them to stick to their preferred investment strategies without stepping out of their budget limitations. Fortunately, you can incorporate FinTech systems in your app to bestow entirely new trading experiences and capabilities upon users.
Of course, at times, commissions and extra trading changes may add to the expenses of a regular trader. Then again, no one wants to spend even one penny more than they have to. Stock traders are after free-to-use mobile applications that’ll help them generate attractive returns. That’s why you need to build an app without compromising the needs of the users.
According to experts, you should primarily focus your development, design, and marketing efforts on the following user categories.
In terms of age, statistical information shared by Statista proves that the millennial age group is more into stock trading than others.
Also, back in 2019, Statista further informed that the penetration rate of finance apps for mobile devices reached 25.75%.
This sudden rise in interest in stock trading applications for mobile devices remained in place for some time. For example, people searched frantically for info about these apps between September 2016 and September 2017.
The percentage value of the searchers had increased by 115% that time.
These statistical pieces of information are enough to prove how interesting these apps are to a lot of folks out there.
Now that you have a basic understanding of the age group of the users, it’s time to move on to the next section.
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Based on the information provided above, the overall mobile app development cost of a stock trading application should be around $30,000 to $60,000.
It’s understandable that the more features you include in your application, the higher the development cost will be.
Just don’t make the mistake of hiring an app development agency without gauging its abilities and experience in developing such a complicated mobile application.
Investing in the development of a stock trading app will inevitably be lucrative. However, it’s a competitive field. The only way to beat your competitors is to stand out from the crowd. The development project will also be quite complicated mostly due to the stringency of data-security norms and regulations.
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