How to Build Interactive Brokers Automated Trading Software? - Rising Max

How to Build Interactive Brokers Automated Trading Software?

(Technology Advisor)

December 20, 2021

Nowadays, online purchasing has become a common practice. Many choose online shopping for ease of convenience, and others see it as a competitive pricing platform. Statista also reported 2.14 billion buyers in 2021 and is expected to rinse in the future. 

Considering the flourishing demand for e-trading platforms, offline traders also moved to interactive brokers automated trading software with a reputed software development company. 

It helps traders to buy and sell financial products other than traditional brick-and-mortar stores. The platform works through websites, mobile apps, or both. Anyone who wants to enter into the stock trading business can join and start real-time trading. 

If you plan to build a similar platform and earn a big chunk of market profits like WazirX. Robinhood, Fidelity, TD Ameritrade, or Tastyworks. You are on the right post. Here you will learn everything about how to build interactive brokers automated trading software.

What is An Online Trading Platform?

An E-trading platform allows traders to place trades, monitor accounts, and create portfolios through financial intermediaries. One can invest in anything, like shares, currencies, bonds, debentures, or other stock market instruments. Therefore,  modern traders and investors are bypassing the conventional trading offices and shifting toward online stores. 

Related Article: Build A Stock Trading App & Keep Up With The Changing Trading Industry

What Makes Interactive Brokers Automated Trading Software so Popular? 

First, let’s take a look at some data…

According to Statista, the online trading market in 2020 is 8.3 billion U.S. dollars and estimated to be 2.16 billion U.S. dollars in 2028. In the United States of America, over 14.1 million people invest in online trading platform. Therefore, over 7.3 million users of the largest trading platform, Robinhood, are victims of it. 

Online trading platforms’ rising growth is setting benchmarks in the trading industry. The common reasons behind high popularity are:

  • Convenience to use from any corner of the world.
  • Transactions completed within the stipulated time.
  • A highly transparent platform. 

The icing on the top features of brokers automated trading software platform are:

  • One can start trading business beyond geographical boundaries, which means any trader who has internet access to a stock market trading software can trade anywhere.
  • Trading software keeps the data systematically and protected and becomes a plus factor to conveniently handle investors and clients.
  • The offline stock market cannot be operated 24*7, but a website can work regardless of the time. It means a perfect platform to attract working people who are willing to trade after office.
  • With the use of artificial intelligence in the stock market, the website provides a real-time analysis. Hence, it helps to reduce investment-related risks. 

Technology is flourishing leaps and bounds, so if you are thinking of developing an online trading platform. It’s the right time to go ahead. 

automated trading software

How does an online trading website work?

Online trading is a platform for customers who want to trade in stock, share, bond, debentures, and other online. The platform allows direct transfer access means whether users want to transfer funds to a bank or in the share market, everything is a few clicks away. It ensures that your traders won’t miss a chance to invest in a lucrative market.

Now, back to the question, how to create interactive brokers automated trading software? And what does it include? 

Online trading is beneficial for traders and brokers as they can have a good hand with financial resources. Therefore, before deciding on your trading app or website, you must be aware of the legal procedures of the stock market. Like 

  • Every country has a different stock exchange regulatory authority that monitors trading transactions. In the USA, the SEC (Security and Exchange Commission) is there to look after the actions of stockbrokers.
  • For the online trading business, one needs to get a license from authorities that build credibility.
  • Keep in mind, license and business requirements vary from country to country—read out all the important documents related to Fintech software development.

Essential Features in Interactive Brokers Automated Trading Software

Internet trading can be a risky affair for beginners, especially those who are not aware of technology and how to use it in the right way. But, with the help of software trading developing companies, one can go with a simple but interactive design that can provide all the titbits of forex trading. Here we have a list of some:

  • Updatable Index Filters
    Adding this feature means you are giving liberty to users to search and filter portfolios/indexes and monitor them on a real-time basis. They can easily monitor real-time transactions. It gives them a feeling that they are using customized trading software solutions. 
  • Smooth trading functionality process
    It’s useless to think about a trading platform without a trading function. The function helps to make transactions smooth and provides an easy to beginners. To help you more, web developers add every important data associated with trading and company, such as company profiles and real-time data on the home page. 
  • Safe and secure transfer of funds
    As buyers and sellers both deal with buying and selling stocks, it makes sense to add a funds transfer function to your app. Make sure your website or app must be empowered with blockchain technology that ensures safe transactions. 
  • Real-Time Quotes And Charts
    Stock trading is the fastest process. Therefore traders need to make rapid decisions. These decisions mainly depend on the industry’s latest news and business updates. Hence, keep the live streaming quotes and charts on your website or app for effective learning. Besides that, keep your trading software active with updated information from reliable sources like news or Magazines. 
  • Newsfeed Forecast and analysis
    Both global and local events are crucial for stock market users. Therefore, keep your users updated with news feed and analysis reports. For instance, the shutdown of a mediocre company can influence the worldwide stock market trading business. With an online software solution, they can know about the Balance History, portfolio, active orders, trade history, deals, market, exchange rates, stock prices, and any other industry update. All these data help in wise decision-making. 
  • Push Notifications
    Push lets the users know what is going on in the investment industry. Influencers can skip or grab the deal on that basis. In addition, it keeps the users engaged with the app for a longer duration. So, do not forget this useful feature from your app.

Advance Features To Flourish Your Business

  1. Trader Dashboard: when traders login to the platform can enjoy Balance History, Portfolio, Active Orders, Trades History, and Deals features on the dashboard.
  2. Watchlist: The watchlist lies on the main menu. The feature helps you to monitor whether certain stock reached to your expected level or not. It facilitates users to analyze price movements and trading opportunities. 
  3. Portfolio: A portfolio serves as an aid to group all your financial assets such as stocks, bonds, commodities, currencies, and cash equivalents solutions. It can also include mutual, exchange-traded, and closed funds with varying sizes and representing a variety of asset classes.
  4. Alerts: trading alerts work as technical indicators that notify users about particular stock reaching a specified price target. Further, an alert can be categorized into many categories, such as news alerts, technical alerts, price alerts, and economic alerts.
  5. Transactions: You can see this feature on the main menu with buy and sell details. All the information should be well-structured, containing OrderID, Market, Type (Buy/Sell), State (Open/Closed), Date, Action. 
  6. Withdrawals: This feature allows users to withdraw amounts from accounts. The funds involve actual value minus funds used.
  7. Messages & Video call: you can activate this function to contact users. They can communicate with your business via text messages, voice messages, and video.
  8. Analytics: With this feature, users can access real-time data that helps to review current trader performance. You will see Balance Status, Revenue, Saving, Statistics, Performance, Activity, Yearly/Monthly Expense on this page.
Start Interactive Brokers Automated Trading Software Development

How To Start Interactive Brokers Automated Trading Software Development?

Time needed: 1 day.

While you are on the board of building a website or a full-fledged desktop application, the first thing is to work on versatility and functionality. Find out whether you will build a platform for Mac or Windows or both. The best idea is to conduct complete research for the right choice of platform and target audience. But experts always recommend being present on both platforms helps to reach a wider audience. Here we have some steps for your assistance: 

  1. Find your target Audience

    Before building trading software, the foremost thing is to find your target audience and available opportunities to trade online. Understand their requirements and compare your platform with competitors. Offer them something unique which is not available in the competitor’s platform; it can brainstorm them to use your app. 

  2. Cost estimation and budget

    It is crucial to have a cost estimation for technologies you will use, their maintenance charges, and their scope for upgrading. It helps you to find more opportunities and set a budget accordingly. 

  3. Search a team

    Once you are done with the research and budget, it’s time to look for a team having proficiency in programming languages and understand your market. You can also ask for current trends, technical aspects, and how the solution could be feasible for your business. 

  4. Features Required for a Successful Website

    Here we list some must-have features for developing a successful software strategy, Convenient sign-in methods, easy access profile page, and consider a simpler homepage for seamless management.

  5. Design & Development

    Developing a trading platform makes sure it can provide a seamless experience to users. UX/UI Design should be appealing, responsive, and functional for all users with zero redundancy. It makes a positive impression for first-time users. Our experts focus on this while developing web solutions for your business.

Note: Do not forget to add privacy policy, terms, and conditions features to make the website trustworthy and reliable.

As you have learned about all essential aspects of brokers’ automated trading software. But you should give equal weightage to learn the tech perspective as well. Let’s have a look:

Technical Perspective: Interactive Brokers Automated Trading Software

  • Website Development
    You need to focus on a software development company for the trading software development part. It must have skilled developers with rich experience in programming languages such as Java, python, react native, and more that can help build custom apps. 
  • Backend Development
    Backend Development is also called server-side development. It contains behind-the-scenes activities that the users don’t see but occur when performing any action on a website. It involves databases, backend logic, APIs, and Servers. 
  • Frontend Development
    Frontend Development is also known as client-side development. It includes the practice of producing HTML, CSS, and JavaScript for a website or Web Application. The objective of designing ensures that users who open up the site can easily read the information in an easy-to-see format. Therefore look for a web and app development company having knowledge about trading software frontend for better and quicker access. 
  • Payment gateway integration
    Trading business deals with funds all day long. Therefore choose a more secure and safer payment gateway option for your business. With this, make sure payment options involve e-wallets, debit and credit cards, and net banking as secure transactions. But do not forget to empower it with blockchain technology. 
  • The UI/UX Considerations
    A stock market is a place where one incorrect judgment can put your investments at high risk. Creating an uncomplicated and efficient online trading platform can be a successful strategy for your business. With this, do not forget to overlook the significance of testing the software. It may be challenging but protect your corporation 24*7. 
Build Interactive Brokers Automated Trading Software

Hire the best developers to Build Stock Trading Website

As technology is rapidly changing, the online trading business is also going with the flow. To keep your interactive brokers’ automated trading software lives, you need to put in regular effort for traders, brokers, and clients. An interactive broker’s automated trading software company can help you with a feasible solution.

If you have brokers’ online trading platform ideas in mind? Let us know. Our experts are always ready to resolve all your queries and fulfill the gap between idea and development. Our technology proficiency lets you enjoy all interactive UI/UX, analytics, Artificial Intelligence, backend and front end development, and many more!! 

Just give us a call, message, or email!!!

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