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Jumping into their dreams about building wealth, people think of the tools how to turn dreams into actionable plans. Financial advisors promote investment in various assets as the most popular way to get a chance to win in the game. And since the economic turbulence shows how fast the national currencies can lose their weight, the interest in defensive assets is spreading globally.
It can be an appropriate time to develop trading app, especially for newbies, or to present advanced opportunities for experienced users. If you find a way to amuse the public, there’s no doubt you’ll find followers.
Why develop a trading app is a game that is worth candles
More than 90 million people integrated using trading apps into their everyday life in order to improve the management of their personal finances. Just three years ago this number was three times less. The crisis in the economy pushes people in different countries to level up their financial literacy and explore new ways to keep and grow savings.
Regardless of the source of information on the issue, the main recommendations from financial experts come down to investing a part of the money into diverse assets. Visiting offices of investing companies feels like an archaism nowadays, when there are so many ways to acquire stocks, ETFs, or gold online. And the most convenient way for juggling riches is to use specialized services. That’s why the plan to develop a trading app is like catching the updraft. Many people perceive cryptocurrencies as a field of fantastic opportunities, and they can fuel mass interest in new ways of increasing savings.
It has been estimated that the trading apps earn about $8bn globally, and there is a myriad of signs the number will be growing.
This data signals that if one thinks about how to develop a trading app, he definitely can attract the audience in case the product is of competitive quality and matches users’ expectations.
Top 3 of the products with an impressive potential
Trying to transfer your idea to the contractor, it’s cute to illustrate it with the references on the existing features. So, the engineers will be able to develop a trading app that matches your vision. But where can you catch inspiration and the practical material for a demonstration of your desires? The simplest way is to lean on the recognized solutions in the industry. Let’s explore them together and vaporize those functionality and money-making strategies that deserve you to take it onboard when aspiring to develop the trading app.
E-Trade
This platform was a pioneer in the affairs of trading stocks, ETFs, mutual funds, and other securities. The solution has two versions tailored purposefully for iOS and android lovers. But if you’re intending to create a universal application available on various devices, the Purrweb team recommends considering cross-platform frameworks for faster building a product and implementing changes if required. It enables you to cut the costs of products by up to 35%.
E-Trade is respected for the plethora of financial tools it offers users and its reasonable money-making policy: they charge a fee for every transaction and the sum of money depends on the frequency of the deals: the more deals, the lower rates. However, this solution fits better for long-term investment.
Robinhood
If the user plans to invest any sums steadily, it’s reasonable to pay attention to the apps that don’t charge for every interaction. One of them is Robinhood. The platform works on other money-making strategies: they have various subscription plans that supply users with additional time for trading or open access to some particular stocks or let one gain extra margin.
Fidelity
This application is popular as a goal-oriented trading platform that inspires users not only to get implemented new financial habits but to reach their long-term goals like accumulation of savings for retirement, vacation, or any other plans. It doesn’t take money for transactions but offers users to pay for robo-advisors. And if the balance on your account is high, it will be for payment. The app is focused on traditional assets, and the main drawback of this platform is the absence of such tools as cryptocurrencies.
Fitting an idea to develop a trading app, also examine eToro, Interactive Brokers, FreeTrade, and other solutions invented in order to help users to acquire defensive assets or grow their savings. Some of them are honed for beginners like SoFi which lets users without experience in trading navigate on the app without obstacles.
Others are proud of the well thought tools for automated investing like Vanguard. And when you’re brainstorming a plan for developing a trading app, your task is to definitely imagine the audience you plan to satisfy with the solution. Ask yourself: are they active traders or not, prefer long-term investment or not, need cryptocurrencies or not, etc?
The better you can represent the target user when starting to develop a trading app, the cuter results you can achieve.
If you analyze the mentioned apps, you’ll discover that all of them have the coinciding functionality:
- The onboarding page lets you present the product in light of its advantages
- Registration form where the user can enter his personal data for authorization.
- A personal account collects all data related to balance, deals, and other significant info for a trader.
- Trading tools equip users with opportunities to sell and buy chosen securities
- An information dashboard makes it possible to track the cost of assets in real-time.
- Along with the core functions, the app can include some extra opportunities.
- Robo-adviser that lets people get automatic recommendations on the deals.
- The knowledge base supplies newbies with necessary information on the tools and strategies.
- Support chat makes it available to ask for help from experienced trading specialists.
Whatever you want to implement start to develop a trading app, and sort out the elements in the light of pros and cons from the point of view of your target users.
What matters when you intend to develop a trading app
Pay close attention to security issues when you’re planning to develop a trading app since it will be dealing with sensitive data. The Purrweb team confirms it’s an obligatory feature to integrate two-factor authentication.
Choose flexible tools for building a product as it can require improving, polishing, and scaling. React Native can be a rewarding framework.
Be aware you’re dealing with a contractor who is an expert in all nuances of technology, design, business, and marketing issues.
If you’re lucky to find one, there’s a great chance to create an all-around solution actually expected by traders.
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