It’s no secret that investing in stocks is one of the best ways to get rich. Therefore the demand for stock trading apps is very high. A trading app – is a huge marketplace right on your phone. There you can invest, trade stocks, and get revenue. Although it seems to be very easy, there are many pitfalls in stock trading. And they start even when choosing the application. Depending on whether you are a beginner or a professional, you can choose the right platform for yourself. But it still takes time and a lot of practice to understand all the details of stock trading. In this article, you can get info on how to make a stock trading app.
What Does Every Trading App Consist Of?
Although every trading app is unique, its functions and core features are the same. There is nothing special about such apps. And when you build your application from scratch be sure that it has the following elements.
Every member should be able to create an individual profile. There should be a function of logging in, multi-factor authentication, and account registrations. On the account, a user should be able to add, edit, and update personal data. There should also be some tools to track payments, funds, and transactions. As the stock prices change every second, a user should see the changes in real-time.
This is the main workflow. In this section, provide users with a range of tools like transaction trading, monitoring the stocks rising and falling, seeing relevant info about the companies. And all the rates and statistics should be visible in real-time.
Analytics and News
Not every trading app has such a function. But for users, it is crucial to read some pieces of advice on the newest trends in stock trading. They should also be informed by notifications. It helps to keep track of what is going on on the market.
What Are the Steps to Follow When Building a Stock Trading App?
The process of creating an app for trading is very comprehensive, time-consuming, and highly responsible. To make a final product you will have to spend months creating a minimum viable product, testing it, and launching your best version. But such hard work is worth it. Be prepared for your journey taking into account the following steps.
Start With the Idea
Build a picture of what you want to see on your trading platform. Then hire a professional team. Look for experienced specialists including product managers, IT architects, analysts, marketers. Your team should understand the newest trends in stock trading, user needs, and business goals. Don’t create a platform that is aimed only at a specific target audience. It should be available for novices and experts. Thus your chances to get high revenue are bigger. Build a roadmap and strategy on how to develop an app. Before you start creating an application, analyze the market. Learn from someone’s mistakes and don’t be afraid to make your own ones.
Put Security First
Security is the first thing that comes to mind when thinking about a good stock trading app. Trading is always about large sums and people and their personal information must be protected. Here are some ideas on how to create a high-protected app:
- Predict the risks. Read about the most common security threats like external entities, injections, and be prepared to tackle them.
- Insert a multifactor authentication. Sometimes security risks come not only from the third parties. Different users use trading platforms for different purposes. That is why the profile verification process should be strict and comprehensive.
- Store data wisely. Use cloud storage as an additional security option. But don’t rely only on one source. Choose several ways of how to keep the data protected.
Think About Outstanding UI/UX Design
Although a trading app is not related to entertainment, the design also matters. The app should be easy to navigate. You don’t need to make a design from scratch. There are different approaches and rules which you can apply to your project. And the main thing you should consider is graphics. Stock trading platforms should contain different kinds of charts and graphs. And your task is to find the right way to present the data. As a good idea for a usable design, structure your tools into modules. You can divide all the features into blocks and post them in an appropriate order.
Add Easy Ways to for Users to Get Money
The main purpose of downloading stock trading applications is to redeem profits. And it sometimes happens that getting money is harder than making money. Provide users with several options for receiving funds. Make it possible to get money via bank transfer, online services, payment systems. Don’t forget about integration with Apple Pay and Google Wallet.
Create a Minimum Viable Product
The development process is the most responsible part. It covers various and multilevel types of technical work. At this stage frontend and backend development take a lot of attention. Depending on your goals, IT architects choose the programming language and other tools and create a minimum viable product.
Test Your MVP
When you develop a minimum viable product of your trading app, it is high time to see it in action. Testing is quite important as it shows the pros and cons of your work. And even at this stage, you should provide excellent technical support to spot all the imperfections that need improving. When all the “bugs” are fixed, you can start posting your app on stores. And even after releasing a final product, don’t stop improving!
Developing a stock trading app is a long journey that covers multiple processes. From the idea until the final product you should be very attentive to every stage of the app development. Take into account not only the technical side of the platform creation but its design, security, and usability. Make your application easy to manage for beginners and professional players. And remember that such painstaking work requires a lot of time and effort.