Nowadays, investing in the stock trading business is a lucrative endeavor. Trading stocks is becoming increasingly popular among people finding ways to make a profit globally and in the USA. So, many companies want to create a trading platform app to facilitate investors in 2024.
Today, numerous companies want to start a side business. For many of them, stock investment is a good opportunity. So, investing in stock markets is a safe opportunity for you. Moreover, you can go ahead and opt for starting a trading platform app to enable investors.
In particular, developing a stock trading app involves taking several key technical elements into account. This way you can attract new users and encourage them to start their investment journey with your platform. By establishing a trading platform app you can capture the interest of people looking for a second income stream.
Features to consider while building Stocks Trading Apps
App Annie reveals 30% of the top finance apps are currently mobile trading and investment apps in the United States. While you go creating a trading platform app during 2024, look to add an appropriate feature-set to empower users.
Subsequently, we discuss the features that can turn a trading platform app into a hit.
Make Mobile-friendly Design
Above all, your app and accompanying website must be mobile-optimized. Tailor its UI design and UX design to the needs of mobile users. This way, you can ensure your platform is attractive to users just getting started in the world of investing.
So, don’t include the myriad of features typically used in web-based stock trading apps. Instead, be sure to prioritize mobile-friendly features for both app and website. For example, limited screen space, glimpse views, and micro-interactions, etc.
Also, this is beneficial to perform a rapid prototype followed by a user-testing session. Thus, you can make sure your product satisfies user needs and identify ways to improve. For instance, by enabling landscape mode to view full-screen charts, etc.
Therefore, you can improve the user experience even further. Some users will just use your financial trading platform as a useful app for stock market graphs. So, this means you need to confirm your design also meets these needs.
Integrate Stock Market APIs
Small businesses and startups that unveil a trading platform app, need to connect the application to stock market data feeds. Accordingly, you can provide users with real-time stock quotes, commodities, indices, and currencies. You have several popular stock market APIs to choose from.
For example, Zirra, Finbox, Yahoo Finance, Bloomberg Market & Financial News, and Tradier, etc. Some of these APIs aim to give information on exchange rates and historical data. While others prioritize keeping users informed of real-time data.
For instance, Alpaca takes care of issues like banking, security, and regulatory complexity. Whereas Tradier and Finbox both provide stock metrics and research functionality, in addition to the stock market feed.
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Test to ensure Quality
As you inaugurate a trading platform app, it’s crucial not to skimp on the testing stage. Just look at what happened to US financial services firm Robinhood in February, March, and August 2020. Their outages were largely caused by their platform’s server infrastructure not being equipped to handle an influx of new users.
Glitches and bugs are even more serious for financial technology, as they can result in significant financial loss for customers. In the case of Robinhood, the company ultimately had to use its own money to placate users. So, be sure to thoroughly test your app for UX and algorithm problems.
Also, spend time on load testing to identify how many transactions your software can process per second. Test automation tools can increase the productivity of financial investment systems, as you go creating trading platform apps. Look at testing tools like Sailfish, which is tailor-made for the multilateral trading facility (MTF), broker systems, and financial exchanges.
Conclusion
Making a trading platform app is a challenging and rewarding project through 2024. Prioritize features like mobile-friendly design, choosing APIs, and performing thorough tests. Hence, you can make sure your financial investment platform meets and exceeds user needs and expectations.
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