Back in the day, investing in stocks seemed like a task. One had to make phone calls to the stock exchange and after staying on hold for a long time a stockbroker would charge money to buy stocks for you. But all this hassle is now a thing of the past. Today, with the help of a mobile app you can do everything that would have consumed so much of your precious time ten years ago.
A good stock trading mobile app can be of great advantage to everyone. Investors can now trade by using their cellular devices, anytime they want to. And not just investors, but the younger generation can benefit from this too. In fact as per a survey by Statista, in 2018, millennials came out to be the largest user base of the online stock trading industry. This is evidence enough that stock trading apps are already a popular category in app development.
In this article, we will discuss the key features of a stock trading app and what you should keep in mind before starting out your project. Let’s begin this article with the most FAQ.
Why Invest in a Stock Trading App?
If you have been thinking of investing in a stock trading app, the timing couldn’t be better. The first and foremost reason is the massive user base for this app category. This type of app won’t just be for anyone category of users but will indulge a wide range. From young first-time investors who are still trying to figure out what stock investing is all about to professionals who don’t have much time to read or carry on long phone calls. Also, your app can also indulge a young user base who are curious about stocks and shares.
Important Tips for Developing a Successful Stock Trading Mobile App
Sometimes in order to develop an innovative app, people risk the user experience and ignore the basic rules. In the case of stock trading app development, make sure to:
Make the Security of the App your Top Priority
As people will be linking their bank accounts to your app, it is crucial that your app provides top-notch security. Try to add multiple check-in options such as using pin codes, biometrics, facial recognition, pupil scans, etc as login options. This way, you will be able to ensure that your app is a safe place for their personal data.
Worried about the security of your stock trading app? This guide will help you ask important questions to your app developer about app security.
Keep the UI Simple and User Friendly
Keep the UI as simple as possible. Don’t load the app with too many features that overwhelm the user. Remember that there will be many first-time stock investors. Your app should be an easy and clear blend of all the features. A user-friendly UI will lead to a better user experience.
New to the design world? Our UI design agency can help you turn your ideas into engaging reality.
Key Features of a Stock Trading Mobile App
There are certain key features of a specific app. In the case of a stock trading mobile app, the following 6 features will help you deliver a good user experience.
1. User Profile is a Must
A user profile in any app gives the users a sense of connection with the app. It helps in marking their identity among several other users. In the case of a stock trading app, users should have the option to save their personal information as well as their key preferences. This will give them control over all notifications they want to see, set the frequency for money debits, and manage their accounts.
2. Stock Monitoring
One of the main features of a stock trading mobile app is letting them monitor their funds and orders and everything they have put their money on. This way they will be constantly keeping an eye on while executing orders through the mobile app.
3. Real-Time Updates
Another crucial feature that is a must for your stock trading mobile application is real-time updates. You see, your users are investing in your app, through their valuable time and hard-earned money. They deserve to get a clear picture at every step. They should be given the option to view their investments in real time. Make sure that these portfolios are constantly updated for their clarity.
4. Investments or Deposits
Your app should have one such feature that helps people in keeping a check on their investments and the status of their deposits. This feature will help them stay updated about where and how they have been investing.
5. Search and Analytics
A search option is a mandatory one in every mobile app, irrespective of the category. This will help users to search for active stocks and rates in the share market. On the other hand, the analytics feature will help the investors know all the important statistics and analyze everything on the basis of their investments and transactions.
6. Push Notifications
Push notifications are another beneficial feature. In the case of online trading app development, the users should be constantly notified about the stocks. The only task here is to manage these notifications timely. This way they won’t feel annoying to users who might be busy.
So many features can create hassle and chaos. To avoid it you can simply go for the prototype app development initially.
Summing it Up
Stock trading app development may have its fair share of challenges, but with a clear strategy, you can develop a great app. Also, the youth of today is quite attentive and curious about shares and stocks. An app that is simple and informative while also secure, might just be the next big thing.