How To Build A Stock Trading Platform | Cost to Make a Stock Trading App
December 27, 2022
The digital age has made investors, brokers, and traders convenient with the launch of stock trading apps. They don't have to show physical presence at major stock exchanges while investing in the bull or bear market. Additionally, real-time data access, predictive analysis reports, and market updates work as a bonus for everyone.
Considering the need of the hour, these solutions prove great assistance to modern traders. On the same side, you cannot deny that stock market apps provide predictive solutions only. And there is no such app or software that can define an accurate stock market picture.
But, if you can build such a solution with an experienced stock trading app development company, you have the potential to change the entire trading world.
Want to try with us? If yes, keep scrolling, you will get answers to all your questions like;
How to build a stock trading app?
How to build a stock trading platform?
How to make the stock market app on android?
How to make a stock trading app?
How to make an app like Robinhood?
Before that, understand what a trading app is.
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What is a Stock Trading App?
As the name defines apps, are fully featured platforms designed to make users' lives easier. The same lies in stock trading. You can develop a trading app to conveniently buy and sell securities in the stock market. The same lies in stock trading, where a platform is created to conveniently buy and sell securities in the stock market. These apps provide real-time data access and market insight into various shares and securities. Hence, traders and investors can freely conduct all sorts of transactions such as buying equity shares, purchasing preference shares, and investing in debentures, or secured bonds. Everything is available on fingers. It boosts users' interest and provides new opportunities to invest in the share market world.
How To Make An App like Robinhood? First,
Understand The Working Scenario of Stock Trading Apps
The stock trading platform is an end-user platform where listed stocks are purchased and sold. These could be long-term as well as short-term. Users just need to tap a few commands from their smartphone, and the transfer transactions take place on a real-time basis. These platforms make a major portion of money out of trade transactions.
Modern Stock trading platforms are divided into two categories - trading traditional stocks and dealing in cryptocurrency trades.
Traditional Trading involves buying and selling a company's shares such as equity, preferences, bonds, or debentures. Up stock is a prominent example of it.
Cryptocurrency trading includes trading for Bitcoin, Ripple, Litecoin, Cardano (ADA), Stellar (XLM), and more! Robinhood is a major example of it.
To know more about building the Robinhood app, contact our experts.
Note: Trading always becomes a serious concern; therefore, when you are planning to represent an online trading business and worry about the trading platform cost, do not forget to obtain a license.
Before establishing your business, understanding the monetization model is a priority for everyone. The same lies with the stock trading business, If you too are planning on how to build a stock trading app, surely you could be wondering how to make money, sooner or later. We are here to answer your every query. Check out how to build a stock trading platform and monetize it for profit.
Interest: Capturing the interest of the users is the most trending technique for collecting money from stock trading apps. As you were seeking earlier on how to create a Robinhood-like app, here we came up with an example of it. Robinhood collects interest from users on uninvested amounts in their accounts. This is another way to motivate users to invest in desired securities than keeping idle cash.
Premium subscription: offer extended hours of trading hours extra stocks, and margins on your platform to users who have purchased membership plans. Robinhood’s Gold plan is a leading example of it.
Fee per trade: Do not offer free trading transactions on your platform. Charge a small portion of the fee for every transaction made by investors. The fee charges allow you to cover platform maintenance charges.
On the journey of
How To Make A Stock Trading App? Don’t Forget the basics
Deep market research
Development of a marketing strategy
Designing a stock trading application architecture
Choosing a platform
Testing and quality assurance
On The Board of Development
Find The Most Famous Stock Market Apps Features
Although registering on a stock exchange platform like Robinhood is free for users, some features still attract traders and investors. While going through your stock trading app development process, you cannot deny these features to make a better overall experience. Let’s check out these in a short while.
An online dashboard is also regarded as a portfolio dashboard that contains sortable data. The role of an online dashboard is to enhance users' experience with easy-to-find filter options, various payment gateways, a graphical presentation of trending stocks, and more. So, while building your trading platform, make sure it must be embedded with all the essential features on the dashboard.
Real-Time Streaming of Stock
Real-time stock streaming boosts users' experience and trust in your platform. If users are able to track companies or top cryptocurrencies' current market position, they will rely more on you and look for investment opportunities. Therefore, when you go about finding answers to how to create a stock trading platform, ensure that you learn about all the essential features that help present users with accurate analysis, price patterns, and efficient strategies.
Stock screening helps to provide desired results like charts and quotes that derive results from using fundamental, technical, and descriptive metrics. These concerns help the traders and brokers to make prompt stock-picking decisions.
Generally, people keep an eye on their favorite stocks to buy or sell at lucrative deals in the future. For this, the best practice is to keep the stocks on the watchlist. The list will define users' price, volume, bid, and percentage change. Hence, it helps to make better and on-time decisions.
Recent Market News
Keeping users updated with the latest news and trends are in high demand. And modern investors appreciate the business, too, which keeps them a step ahead. Thus, provide current market news to your readers and keep them engaged for a longer duration.
Calendars And Stock Notifications
24*7 availability and real-time tracking are the common features that everyone expects from stock trading apps. But modern users want to go beyond these with a variety of alerts on important topics. Set a calendar to provide all-time stock market notifications.
But Hard To Ignore In Your Stock Trading App
Establish individual profile information on the app. The section will contain information related to users' pictures, personal details, language indications, and priority stocks. It also helps you to gather information related to the majority of users' interests.
Stock exchange platforms offer venture portfolios in their apps to promote speculation. The AI and machine learning skills of these apps help to provide robotic calculations, independent buying or selling of stocks, and more.
From the start of registering on your platform, create an easy-to-sign and login structure on your platform. The overall structure helps to make the page convincible where no one needs to put in additional effort.
Trading could be a better experience if someone can get a loan or fix an installment through an app. Offer a great option that can motivate users for more investment opportunities.
Search & Filter Option
Clients do not want to wait for a long time to find a single stock or security. A quick filter and search option in a trading app can prove a healthy choice for them. Make sure your trading platform cost breakdown includes a section for advanced search filters. Users should be able to find what they want. This, in turn, helps retain customers and improve user experience.
To ensure your app or platform’s security, create an approval option. It could be based on touch ID or Fade ID that defines your users' ID, and suspected accounts won’t be able to track details.
How Much Does it Cost To Develop a Stock Trading App?
With the upgrading technology and growing industry needs, building stock trading apps on your own is not an easy game. So, till now, if you are planning to develop an app yourself, remember you have to buy accurate technologies from design to testing. A single mistake can grab your income. Hence, choosing an expert approach always proves to be a healthy decision. You can get a full-fledged ready-to-launch solution in a stipulated time frame.
You can also hire a developer for specific hours who will work for your project only. You just have to pay specific hours charges only.
Now, let’s check out the scope of your work and how much you need to pay for it. (Remember: these are just estimated figures at the time of writing or posting a blog, the charges could vary due to time, features, and technology.)
Platform Development Stages
Testing and Quality Assurance
Project Management (10-15% of the total budget)
Today, millennials are the new consumers of the era. Hence, building a new and advanced method for trading traditional stocks is obvious. Developing stock trading apps assists users in taking immediate financial investment action. Not only this, but it also provides an opportunity to shine in the world of stock or crypto exchange.
Now, what is troubling you? Finding a reliable stock trading platform development company?
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Already developed Robinhood like, Binance like, and UpStock like platforms