Benefits of trading app development
The question “Where to invest in 2019 in order to get income?” arises, as many people want to increase their income. This is a key factor why it is worth investing into trading system development. Trading industry has its own exclusive part of target audience: people who are not professional traders, but want to take part in exchange tenders. At the same time, many professional stock market participants have already taken advantage of this technology in practice and want to continue trading activities by means of using digital platforms.
Trading really goes online: 37% of institutional traders were only positive about using mobile e-trading applications in 2018, which is 19% more than in 2017. And the level of investment apps rejection has decreased by 30% in just one year.
The study of preferences in mobile trading, conducted by the holding of J. P. Morgan Chase & Co
But do not think that only young traders can be trading applications potential audience. 59% of respondents have 10 years of investment experience, 49% of whom have been engaged into trading sphere for more than 20 years.
As it can be seen from the statistics, most trading platforms on the market are not designed for convenient niche use. The fact is that operations with cash are the most popular now. They account for 49% of all transactions, and the most popular method is click-to-trade (64%). But there is also a significant percentage of other trading operations that also deserve the attention of developers.
Trading apps market competitors
When it comes to trading system development, before you invest into a trading app, you have to take into account the already functioning apps. As you can see, Code Inspiration does not just develop trading apps according to your request. We have thoroughly analyzed all the leading apps in the industry, as well as their features and users’ feedback on these applications.
Here analytics is one of the main aspects of work, as the right decision based on competent analytics will help to save your time and budget and get competent advice not only in the field of development, but also in terms of the implementation of the functionality.
If you came up to proceed with a trading app, we highly recommend you to review the following existing booming apps in this area.
Known for its user-friendly, intuitive interface, this free trading platform does not take any fees for the transaction. It has become a top suggested app 12 times. One of the core features that the app offers is tracking stocks.
The app is good for the beginners in the trading sphere. The app will calculate your regular spendings and help to decide on the suitable for you purchases.
A pioneer in online investment. It helps investors and traders to easily interact with the stock market. This mobile solution that has a more complex functionality: fitting for placing trades, updating quotes, tracking the latest stock market information in real time.
Yahoo Finance allows real-time tracking of stock quotes of companies of interest, learning the latest market news, comparing securities, monitoring investment portfolios of other users, etc.
The app is aimed at tracking the stock market, providing life streaming stock information. It also supports the major brokers in the US for trading. It is a simpler solution, whose development will cost less.
Trading software development process
Before we start the development process, we have to indicate what our client expects to get. Here is a guide with the key indicators we have to take into account before we start.
- Website or mobile app. If you only need a mobile app, we can move further, still, if a stock market website is planned, we’ll have to decide how we will organize its interaction with users’ smartphones: will it be a mobile site or a full-fledged mobile application.
- The platform. Here you will have to decide which platform to choose for your trading app. Most competitor apps like E-Trade or Robinhodhod offer apps fully compatible with the iOS and Android operating systems. Still, if you want to save up, we’d advise you to study your potential users and start with the OS they use more often.
- The concept. Elaboration of the concept, Statement of Work and mock-up together with a business analyst and a technical manager of the company.
- Design is of high importance. Interface design in the trading sphere deserves special attention. We’ll help you to develop UI in accordance with the market demand, necessary animation and convenient UX.
- The development process. Professional work of our development team with the application of the agile methodology and Jira tracking system where a client can clearly see and control all our processes in real time.
- Safety issues. Finance is very sensitive to the security issues.
If you look at the statistics, you’ll see that the demand is significantly increased mainly owing to the NASDAQ and the Dow Jones Industrial Average index growth. Time spent on transactions through trading applications in 2018, increased by 6% compared with 2017, and currently 52% of Americans have money invested in the stock market.
Institutional traders use an average of 4.7 trading platforms, rather than one, which indicates the absence of a multifunctional product.
Such an indirect fact as the popularity in search engines also shows the development of trading apps market. The average frequency of the “trading app” request has been tripled during 5 years.
All these facts suggest that the time has come to cash in on your idea by turning to our expert-level experienced team. We can give you professional advice based on deep niche expertise and develop project with the widest possible functionality. Just contact Code Inspiration to invest in the future in the utmost manner.