Investment can be risky, and sometimes investors face heavy losses. However, trade applications give an opportunity to save extra money and enjoy the advantages of numerous investment tools. Generally, the trading application keeps users updated on the stock movements and allows traders to buy and sell stocks in real-time without intermediaries. This is why the demand for Investmate app development services is higher.
Over the years, the demand for the trading application has become higher. A report shows the trading app market revenue will be 20 billion in 2021, increasing by 30% by 2025. As a result, many finance companies have decided to build an app like Investmate. Usually, this application is an online educational platform that offers users a variety of educational resources on trading and investing in financial markets.
The application also provides beginner-friendly courses on topics such as forex, stocks, cryptocurrencies, etc. Moreover, this application also has amazing features, such as interactive quizzes and games to assist users in testing their knowledge and improving their skills. The best thing about the app is that it is easily available for both iOS and Android platforms.
In this post, we will discuss the process of building an app like Investmate, the features a trending app must have, its importance, and many more you want.
Table of Contents
What is a Trading Application?
Trading applications increase users’ efficiency and effectiveness whenever they complete a task in their private and public lives. It lets users buy and sell financial instruments such as bonds, stocks, options, and currencies via a smartphone or tablet. Moreover, such applications offer users access to real-time market data, analysis, news, and the ability to execute trades on the go.
In simple terms, trading applications’ popularity will increase in upcoming years because they provide investors with a convenient and accessible way to manage their investments. Therefore, many agencies have decided to build an app like Investmate.
However, doing this job on your own is not an easier task. In such a case, it is advisable to search for a leading stock trading app development company with a good reputation and a portfolio. It will help you determine whether the selected agency is able to work on your project or not.
How Do Stock Trading Applications Work?
A stock trading app is the best platform for selling and bringing stocks. Note that such applications are all about handling money properly, including lending, borrowing, storing, investing, spending, and protecting it. Such kinds of apps help people complete the management of their financial operations efficiently.
On the other hand, it provides complete access to the market. Using stock trading applications, users can monitor changes in market activities, real-time stock quotes, and many more. However, people have a question about how stock trading applications work. Below is a general overview of how stock trading apps work:
1. Account Setup
Users need to set up an account with a trading application that offers personal and financial information and bank account details.
2. Marketing Data
The application collects real-time market data, trading volumes, stock prices, and news updates. There are several applications that offer research tools and analytical data.
3. Order Placement
Now users are able to place an order to buy or sell stock or other security via the application.
Once the order is placed, trending applications give confirmation of the trade along with the price and quantity of shares bought or sold.
5. Portfolio Management
Trading apps permit users to track their investment portfolio and monitor performance.
Stock trading applications can use encryption and other security measures to protect users’ personal and financial information.
Features a Stock Trading App Must Have
Well, features decide the success of a project. Therefore, paying attention to the features you decide to include in a stock trading application is necessary. There are undoubtedly several trading applications and a leading on-demand app development company that claims to provide the best services.
But only features decide which app is good for investors. If you decide to build an app like Investmate, it is good to choose the features carefully. If you have a startup company and you don’t have enough idea which features you have to include in your application, take a look at the following features:
- User-Friendly Interface
The application should have a simple and intuitive interface that is easier to navigate and use. This feature allows users to find the information they need instantly. Henceforth, when building an app like Investmate, include this feature in your application.
It is obvious that it is not as easy as it seems. Hiring dedicated developers with good years of experience, knowledge, and reputation in the market is advisable. It ensures you get the best services you want to take your business to the next level.
- Real-Time Market Data
When building an app like Investmate, it is necessary to include real-time market data features and stock prices, trends, and news. With the help of information, users can access the most current data that can be used to invest their hard money at the right palace.
So don’t forget to include this feature while building an app like Investmate. In order to make the task easier and more efficient, you can hire mobile app developers who help you in every possible way.
- Portfolio Management
Portfolio management is another important feature a stock trading app must have. It allows users to manage their investment portfolios easily. In order to make the application more attractive and unique, you need to include tracking investments, monitoring performance and making trades.
For this job, you can also search for an Android app development company to give you the ultimate solutions within your budget.
- Alert and Notifications
The application also includes an alert and notification feature. This feature alerts users about significant events that may impact their Investment, such as changes in stock prices or company news.
As we mentioned earlier, building an app is not an easier task, especially for those who don’t have technical knowledge. In such a scenario, searching for a mobile app development company that will give you one of the best services per your requirements is good.
- Trading Tools
You should include trading tools such as technical analysis tools and charts to assist users in making informed investment decisions. So, don’t forget to include this feature in your application, as it will help you take your business to the next level.
The application includes security features that protect users’ personal and financial information. To make the application more attractive and unique, you must include encryption, secure login protocols, and two-factor authentication. So when deciding to build an app like Investmate, ensure the application is equipped with this feature.
- Customer Support
You should include a responsive customer support team that helps users with any issues they may encounter. However, including this feature in your app is not possible because app development requires several aspects. This is why you must search for a leading Investmate app development company.
- Educational Resources
While building a stock trading application for your business, you need to include education resources that help users learn about investing and trending. You should also include tutorials, videos, and articles that help users update their knowledge occasionally.
You have to ensure the application is available on multiple platforms, such as mobile devices and desktop computers. It ensures that users can access the application whether they need it. Henceforth, you have to include this functionality in your application.
These are some features you must include while building an app like Investment. Including all these features can make your application more attractive and beneficial for traders.
Steps to Build an App like Investmate
Once you know which features you must include in your application, you need to start the development. However, building an app like an Investmate involves a series of steps. Below are some steps that you need to follow to build an app like Investmate:
1. Define Your Application’s Purpose and Target Audience
Prior to building an app, it is necessary to define the purpose of your application and target audience. You have to ensure you are building an app for retail investors or institutional investors. Features you want to provide your users. If you clearly understand your application’s purpose and target audience, it is easier to start the app development process.
2. Choose a Technology Stack
The next step is to choose the right technology stack for your application. This includes choosing a programming language, framework, and database. You can choose from several programming languages like Java, Python, or Ruby on Rails. Once you choose a tech stack, building an app with rich features is easier.
3. Design the user interface
Once you’ve chosen your technology stack, the next step is to design your app’s user interface. You need to create frameworks and prototypes to test the usability and functionality of your app. In order to make the process easier and more efficient, you can seek the help of professionals.
4. Backend Development
After designing the user interface, you need to develop your app’s backend. This requires configuring servers, databases, and APIs to handle user requests. It will assist you in implementing your ideas into reality.
5. Implementation of functions
The next step is to implement the functions of the application. As we all know, those features ensure the success of your project. So, when building an app like Investment, you must choose features carefully. This includes account creation, portfolio management, investment research, and analytical tools.
6. App Development
Now you have to build an app that is equipped with reach features. In order to build a functional app, you have to hire dedicated developers who have the required skill sets, knowledge, experience, and a good portfolio. So it is easier for them to build a functional application.
7. App Testing and Launching
After enabling the features, you need to thoroughly test the app. This includes testing the app for bugs, errors, and usability issues. It makes sure that users never face difficulties in using this app. After testing the app and fixing all the issues, you can launch the app on the app stores. You need to promote your app to attract and grow your user base.
8. Maintain and update the application
Lastly, you must maintain and update the application regularly to keep up with the latest trends and technologies. Maintenance services include fixing bugs, adding new features, and improving the user experience.
Cost to Build a Stock Trading App
The Investmate app development cost can vary greatly depending on a number of factors, such as the platform on which it will run (iOS, Android, web), the features it will offer, and the app’s complexity. A report shows that the app development cost may be between $30,000-$50,000, which can be increased or decreased depending on several factors.
A highly complex app with extensive features is more expensive than a simple application with a minimal feature list. Let’s look at the rough estimate of the cost and time frame for building a stock trading app like Investmate based on the overall complexity.
|Stock Trading App Type
|$30,000 to 50,000
|Moderately Complex App
|$60,000 to $90,000
|Highly Complex App
|100,000 to $150,000
|More than 9 Months
I hope you understand how much it costs to build an app like Investmate based on its complexity. Apart from the complexity, location also affects the cost of building stock trading applications. Below we also mentioned stock trading app development costs based on different regions. Take a look at the following table:
|Stock Trading App Development Hourly Cost
|$40-$80 Per Hour
|$50-$100 Per Hour
|$60-$65 Per Hour
|$70-$90 Per Hour
|$80-$90 Per Hour
|$15-$40 Per Hour
However, this is just an idea, not a reality. In order to get detailed information about the cost, you have to contact a leading mobile app development company that will give you a brief of the overall cost to build an app like Investmate.
Over the years, people have shown interest in trading. As a result, the demand for the stock trading application became higher. But there are several applications in the market, so it is difficult to determine how to make your application unique and attractive. Once you build an app like Investmate, you must follow the complete procedure without skipping a step.
In order to know the complete procedure, you can look at the above-listed steps that help you craft a functional and easy-to-use application. In order to make the app development procedure easier, you can hire mobile app developers from a leading agency.
1. Are stock trading apps reliable?
Of course, stock trading applications are secure. Such applications conform to government laws regarding trading in various countries. It means users can use it without any worry or fear.
2. Which is the Best Stock Trading Mobile App?
There are lots of trading mobile applications in the market, so it is difficult to determine which one is suitable for you. For the best experience, you can use the Investmate application.
3. How to use stock trading apps?
In order to use the stock trading app, you have to follow the listed steps:
- Sign Up for an Account
- Fund Your Account
- Research Stocks
- Buy and Sell Stocks
- Monitor Your Portfolio
4. What is the cost of building a stock trading app?
Stock Trading application development cost depends on several factors such as complexity, features, platform, etc. In order to know the overall cost, you have to contact a leading mobile app development company that will give you a brief on development costs.