Mobile app technology has created a lot of curiosity in the businesses to walk hand in hand with the global outbreak of digitalization. This wave has pushed several new concepts in the world, and stock trading apps are the result of the same. Its gargantuan success is the reason why it is turning so many heads. So let us get some more information about it.
What Trading Apps Are All About?
The motive of the trading app, like all other apps, is to boost the user's efficiency and effectiveness of fulfilling the task. Mobile apps for trading stocks are focused to support users who are looking for a powerful trading solution that would follow the personal investment strategy and would also complement their budget. To meet the users' needs businesses are fulfilling it through different means of mobile devices.
Often there are additional trading charges and commissions that hit the pockets of the traders. Since no one wants to pay more than they should, they keep looking for ways to escape the same. The audience long for a free trading stock app which would help them to generate simple returns. Therefore, the investment applications that are created while keeping the end-user in mind, must come up with a way to decrease or eliminate the additional cost.
The popular Fintech business structures are designed to work for the users and draw in the development of all the full-service consumer finance brands. Trading platforms provide mobility that lets traders keep a check on the stock market. Therefore, the transaction can be conducted at all times. This is the sole reason why the stock trading apps are such a huge hit in the market.
To feed your curiosity, let us consider an immaculate example of a stock trading application.
Robinhood- Stock Brokerage Mobile App
It was launched in 2014 and permits the users to buy and sell the U.S listed stock and EFTs, without giving away any commission. One reason why it is a top stock trading application in the U.S market is that it lets no-fee stock trading.
This financial tech company raised $110 million with a $1.3 billion valuation in the year 2017. Amid the colossal success, the funds keep coming in. Here are a few things that you must take into account about Robinhood.
Know About Monetization!
The number of accounts in Robinhood reached almost 4M in early 2018. Robinhood is the live example that has been trying to prove that accumulating interest on user deposits and security is not the only way to make money from a stock trading application.
Such apps can also make money through premium features. Since a lot of users are ready to pay extra to gain extra services that the trading app has to offer. Such exclusive features improve the users' experience and also helps the app to generate more revenue.
But one must not forget that everything depends on the features that are included in the app and the seamlessness that it provides. So let us look at some of the most important features.
It is a must for the screens to provide valid results. The quotes and charts derived with the help of all kinds of fundamental, technical, and descriptive metrics to make the most of stock-picking.
On an adaptive portfolio dashboard, a user can witness sortable data. This allows goal tracking with the purpose of improving user experience and unmatchable progress.
They simply allow keeping an eye on stocks to plan accordingly for further investments. They also show the price, percentage changes, volume, bid price. That is why watch lists are the most valuable spice to enhance the recipe for substantial stock research.
The feature of showing real-time streaming of stock charts and stock quotes on a dashboard offers a lot of value. Apart from the data, there can be an update every second, which is sent automatically in the modern systems. This can be done to generate the most accurate analysis, successful strategies and price patterns.
It is necessary to update the users about the trends in the market so that he/ she can make informed financial decisions. It is necessary to customize the users' watchlist with timely updates and news.
These are the major features that a stock trading app must-have. And for your own creation, it is better to discuss the idea first with the professional app developers and then initiating the update. Drop a comment below and do let us know if to know about any other technology, but until then stay hooked to this space for more information.