Investments are integral to everyone’s life for securing the future by increasing the financial muscles. People of all economic backgrounds have a habit of saving money. Whenever asked about the best place to invest money it can multiply with risk, then anyone will suggest the name of Stock Market.
However, the major problem encountered by many is how they can invest in the Stock Market to buy & sell stocks, mutual funds, and ETFs. Earlier, investors need to visit the broker’s office and complete the investment process after a lot of paperwork.
But, the scenario has changed completely as there are mobile apps now that decrease one’s efforts to invest money in stock markets. It has also made intraday and F&O easy for anyone.
Considering the huge market potential, businesses want to get their own trading app that offers multiple functionalities, especially the one liked the most by the customers.
A business wanted to discover how much building a feature-rich trading app costs.
Before that, let’s dive more into it and learn the definition of a trading app and some of its basic features.
What is a Trading App?
Online trading apps are mobile applications, both iOS and Android, enabling users to buy and sell securities. It includes stocks, mutual funds, ETFs, and SGBs. These apps have a modern design and easy-to-use interface which makes flawless navigation possible.
In addition, an online trading app is also beneficial for the users as it enables them to make informed decisions through charts and maps. Portfolio tracking features in these apps also make them stand out.
Key Features of a Trading Application
Every trading app has some key features that make it unique and trustworthy among users. These features are essential in building a reliable and efficient solution and managing investments. Following are some of these features.
1. Technical Charts
Technical charts help in the analysis of stocks and their prices for a specific time. It also shows the buying and selling volume for that particular stock. Users can use them to determine whether the current position of a stock is good or bad for buying.
2. Holding and Position Details
This feature enables the users to get the exact holding details of their stocks, mutual funds, or ETFs. Moreover, users can also get intraday and F&O trading details from the positions section. By providing comprehensive information, this enables a user to make an informed decision.
3. Real-time Market Data
With this, users can view the live share, ETFs, and mutual fund details like pricing and volume. It is helpful for any user to monitor the performance of a particular stock or mutual fund.
Furthermore, having AI app development services is way more efficient in providing real-time updates and personalized recommendations.
4. Watchlist
It is an advanced feature that enables users to store their favorite stocks, mutual funds, or ETFs in one place. Users get a consolidated view that simplifies monitoring of market performance. Also, it eliminates the need to separate searches for the stocks to explore how they are performing.
5. Alerts and Notifications
When availing of fintech app development services, request the development team to include an alert feature in the trading app. This feature should allow users to receive mobile alerts whenever the price of securities changes.
Moreover, these alerts allow users to get notified in case of a major event so that traders will stay alert and take prompt action (if required).
6. Multilingual Content
Expanding reach is the key to the success of any online trading app. The best way to do this is to acquire global clients by providing them with content in their native language. It is possible by enabling users to get the app’s content in their own language.
7. Payment Gateway
Ensuring Secure and efficient financial transactions is vital for this app for a good user experience. This gateway should manage the deposits and withdrawals flawlessly. In addition, this app should also provide clear transaction status.
In addition to these features, some benefits make an app stand out. These benefits include unlimited scalability, customization, and accessibility which are also useful for building a mobile application.
What is the Cost of Developing a Trading App?
Before making a development decision, every business should know what is the cost of developing a trading app. It is a million-dollar question because it is helpful for a business in deciding the budget.
The cost of developing a trading application ranges from USD 25,000 to USD 2,00,000. Here, the exact cost depends on various factors, including app size, technology stack used, and other specific features.
The cost of development also depends on the duration and the particular app developer used. Additionally, the complexity of features also impacts the pricing of the development of an app. A few of these features are given here.
- Flawless registration process so users can start using the app.
- User-friendly Interface that supports easy navigation.
- Categorization to enable users to properly understand everything.
- User authentification, including 2-factor authentication.
- Order management, including cancellation and modification.
- News feed section to provide users with up-to-date information.
- Help & Support section that provides solutions to users’ queries.
- Multiple payment options, especially the most common one.
- IPO section where users can apply and monitor IPO applications.
- Peer comparison and financial reports sections for investors and traders.
- Personalization of trading dashboards by selecting design, charts, tables, etc.
- Account details section with crucial information about users and their bank accounts.
- Portfolio analysis, including visual presentations of securities allocation.
- Advanced security features like facial recognition and fingerprint sensors.
Conclusion
A business can easily develop an online trading app that functions perfectly as per the audience’s requirements. Here, the cost of developing this application depends on various factors that we have discussed in the blog.
If you are also looking to develop a trading app? Get in touch with us, we are a leading mobile app development company in India with multiple years of experience. Moreover, we have a team of skilled developers, UI/UX designers, and testers to develop your app from scratch using new-age technologies.