The trading market has seen a boost in the stocks trading apps recently. A stock trading app work wonders both for the users and the owner. An online stock trading app for the users let them check what is going in the stock market just when they want using a tablet or smartphone. The users can also have complete control on their investments using the app. While for the brokers, a stock trading app is a great opportunity to get and increase their client base since more and more people nowadays are switching to mobiles. People are increasing moving towards engaging themselves in stock trading.
If you have an authorized and registered brokerage business, then a great way to expand your business is through an online stock trading platform. However, if you want a mobile website or an app to start your trading business, you need to first ensure that you complete with the various necessary legalities. Since you will be dealing with money and securities, you will first need to get a license for every country you want your trading platform to work in.
According to the expert app developers India, it will also be great if you take part in the investor protection program or join some regulatory institutions. Though it will cost you different amount of money to join regulatory institutions and get licenses in different states, background check is common for all of them.
Most Important Features Every Stock Market Trading App Should Have
The professional app developers India suggest that since creating a stock market trading app is a complex procedure, you can easily get lost if you are new to it. Hire professionals only to create one for you to get rid of all the confusion and the complicated process. You need an online stock market trading app that is as simple and straightforward as possible. This will draw more and more new clients to your platform. Moreover, you need to have a user-friendly design of the stock market trading app. This will lead to users spending more time on trading through your app. Below is a list of must-have features and functionalities for your stock market trading app, as listed by the app developers India:
Profile Page: This is where a user will enter all their personal information to start trading via your trading platform. Since it contains a lot of information about the user, it should be editable easily.
Authorization: The stock trading app’s sign-up or login screen should combine simplicity with security of the data. Since a stock trading app works with finances, the users have to provide their name, address, credit card credential, and social security number. This sensitive information needs to be encrypted and protected. But ensure to keep the authentication process simple and short, otherwise you may lose your prospective clients. Keep in mind to keep it simple and secure always.
Multi-Factor Authentication: While creating an online stock trading app, security should be the topmost concern. The app will be of higher value if it uses multi-factor authentication as this adds an additional protection layer. Along with username and password, clients should be asked to confirm their own identities by answering to a secret question, authenticating using biometric ways or entering the code that is sent to them via a message or email. This enhance the security of users on the stock trading apps.
Portfolios: The portfolio section should be included on the main menu of the stock trading app. With this feature, users should be able to see the group of assets available in different forms, like bonds, stocks, derivatives, or commodities. This feature will not just let you show your portfolio position in pie chart formats or charts, it will also help you compare the positions to industry trends or sectors. So, it will be great if you apply sorting and filtering options to the portfolio feature to make it simple for the users to locate what they want.
Dashboard: A dashboard is a place where the data needed by a user related to their stocks or assets is shown. When you are planning on how to create a stock trading platform, you need to consider making the dashboard feature from the viewpoint of a new user. A lot of data and information will be shown on the dashboard including order status, watchlist, holding, balance, chart, etc. So, always ensure to offer all the information to the users in a simple to understand way.
Trading Function: It is the heart of your app. Trading is why you are thinking to create an online stock trading app. So, trading on the app should be smooth for your users. So, think of how you can display real-time information, stock profile and other essential information on your app so that users can make a well-informed investment decision.
Newsfeed and forecasts: For experienced traders, news can play an important role. Well informed users can predict the price fluctuations easily. So, ensure to include these features also in your app.
Watchlist: If you want to create a stock trading app for the different devices available on the market, you should consider synchronizing the app with all of them. Most of the active traders use different devices to trade. Desktop applications and websites are generally simple for evaluating stocks information on larger screens. The data should synchronize smoothly between all the devices.
Notifications: the notification feature should be definitely included in the stock trading app. Let your users choose conditions for the notification so that they do not miss any vital changes that take place in the stock market.
Now that you know all the important features that should be included in a stock market trading app, you need to think of finding someone who can do the job of creating a high-quality and well-functioning app for you. Find expert app developers India who are experienced and knowledgeable with this to help you in the best possible way.