Stock trading isn’t a new concept anymore but it has definitely transformed from what it used to be decades back. From endless telephone calls to buying and managing stocks with a broker involved in between, things have moved to mobile apps that let you do it yourself at all levels. So, if you’ve been thinking of investing in a stock trading mobile app development it’s quite the right time to penetrate the industry and secure your place.

The fintech sector is currently on a rise making it the best time for stakeholders to embrace success through their endeavors. A successful endeavor now can bring you long-term gains. Therefore, in this blog, we’re going to tell you everything about developing the best stock trading app.

How Does a Stock Trading App Work?

In simple words, a stock trading app is a platform that allows users to purchase and sell stocks. The users can make long-term and short-term investments while tracking the market on their smartphones in real-time. Brokers can secure stock exchanges on these platforms and make money from trades. Trading is generally of two types:

• Traditional stock trading where you buy a company’s shares
• Crypto trading with Ripple, Bitcoin, Litecoin, etc.

Always remember that running a stock trading app will require you to get the necessary licenses and permissions as per the clause of respective countries.

Monetizing Your Stock Trading App

First things first. Your execution strategy should be decided well in advance before actually executing the app idea. It’s very important to have a clear plan about how you will make money from your app since it’s the sole objective of building one. There are several options for your business model and monetization.

Key Features to Integrate Into Your Stock Trading Mobile App

When setting the foundation for a successful stock trading app, its features have a major role to play. Thus deciding the best features is one of the most crucial steps in the process to build a stock trading app. Based on the users’ journey through the app and their expectations from it, list down all features your app should have and then finalize the ones you must keep.

To help you, here’s a list of the most essential features a stock trading app should have:

1. Registration

The first thing you want is to know your customers and remember them to offer the most appropriate services. Therefore, a login/sign-up is a must to collect their necessary details and offer them the opportunity to secure their activities on the app.

2. Onboarding

While many don’t understand, it’s important to explain the app’s orientation to the users. Telling them how the app works right in the beginning will avoid any confusions and frustration from the users later.

3. Personal Profile

Most of the details for the personal profile would be available from the registration form itself. However, to get to know your users a little better, the personal profile page is important. It consists of language preferences, residential details, financial preferences and more.

4. Dashboard

Dashboard plays an important role in managing the users’ portfolio and activities. It contains all information about current balance and stocks owned by the trader and available options. The dashboard consists of a lot of numbers, charts, sections, and data that gets constantly updated online. Make sure to work closely with the UX designer and integrate an intuitive, easy-to-use page.

5. Trading Functionalities

This section of the app should consist of real-time market updates, growth overview, company profiles, and other elements that help the users make appropriate decisions.

6. Analytic Reports

This feature lets the users track their own performance with market statistics and analytics. Your app can also send auto-generated reports once in a day or week according to users’ preference to keep them engaged and updated.

7. Payment Options

Payment options are crucial to sell and buy stocks. However, make sure these payment gateways are secure to keep financial and personal details intact.

Legal Considerations For Stock Trading Apps

There are several legal considerations to keep in mind when developing and launching a stock trading app. Here are some of the key ones:

• Compliance with securities laws
• Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements
• Privacy laws
• Terms of Service and user agreements
• Payment processing
• Intellectual property
• Security

It is important to consult with legal experts and compliance professionals to ensure that your stock trading app complies with all relevant laws and regulations.

Stock Trading Mobile App Development Process

Once the crucial aspects of the app are decided, it’s time to execute the idea with the help of a reliable mobile app development company. It’s pretty much the same process that needs to be followed for developing any mobile app. But for your information, here’s a brief:

Step 1. In-Depth Market Analysis

Market research is the first thing you need to do even when working on the app idea. Understand your product and the audience to make sure that the app idea is extremely competitive.

Step 2. Finalize the App’s Features

Think of the most important and unique features that your stock trading app should have. You need to offer all the basic functionalities to the users while also making your business stand out from others. Payment APIs and dashboards should never be missed.

Step 3. Design Your App

Design is a crucial element of your stock trading app and it’s important to make sure that the respective designers don’t mess at their job. Get a solid UI/UX according to the users’ perception for best results.

Step 4. Coding and Testing

Further comes the actual development of the app that involves coding according to the tech stack you choose. Many companies these days choose to build a stock market web app with Node and JavaScript. However, you can choose the tech stack according to your preferences and market conditions.

Step 5. Make Improvements As Per Users’ Feedback

Even after the launch of your app the development process isn’t over. One of the most common mistakes stakeholders make is overlooking the need for improvement and updates.

Earlier in one of our blogs we have explained the mobile app development process in detail. In case you wish to understand this better, Read below blog.

9-Step Mobile App Development Guide

Build a Stock Trading App With Narola Infotech

As a mobile app development company New York, we understand that building an app in the prevailing competitive market takes extra effort and expertise. Narola Infotech is a team of 350+ IT experts with over 17 years of experience in developing robust software solutions for international clients. We are known for offering 100% client satisfaction and have served more than 1500 clients across 50+ countries.

Source: Build a Stock Trading App