Software development has revolutionized almost every area, and the commerce industry is no exception. Brokers and traders are making more money as more people install and actively use mobile trading apps. According to statistics the number of people buying goods or services online will rise to 2.1 billion by 2021. Quite an impressive number, isn't it? Creating a stock exchange app is essential if you want to reach more users. You have to keep up with trends to stay ahead of the competition in the market.
What is the main purpose of stock exchange apps?
The answer to this question is obvious. Applications have been created to make our life easier and more convenient. When you build an exchange application, you have full control over all transaction processes. It increases the interest and experience of users. In addition, your company becomes more attractive to make long-term investments. There are many existing trading apps on the market, but not all of them can boast of their high quality. The first point of how can create a trading platform is to analyze the best available solutions. We can name market leaders such as eToro, StockTwits, E-Trade and Netdania Forex.
Let's take a look at how E-Trade works.
Its functions are to manage trader accounts, place trades and obtain real-time quotes. E-Trade also enables 24/7 market access and covers all possible market activities. It is a perfect option for any type of user as it has a clear interface, direct quotes and many other features that improve user performance.
Main types of scholarship applications
The very first thing to decide when to apply for a scholarship is its type. There are two main types. Each has its peculiarities:
Traditional stock exchange apps are in high demand today. They include things like currencies, securities and other conventional assets.
The second kind of exchange app is more specific and relatively new. Everyone has heard about currencies like Bitcoin, Litecoin, and so on. This type manages the transactions of crypto assets, such as buying or selling.
There are several trading programs to build. Our recommendation for beginners is to design a full coverage platform that is useful for beginner investors and traders.
3 Steps to Build a Trading Platform Like E-Trade
The application development process is time consuming and cumbersome, especially for such a complex system as trading.
Step 1. Choose the type of application
This is not the same as in the previous point. There are two types of apps: a mobile website version and a full app. The first is cheaper and faster to develop, and the second is richer in functionality. Determine this point first, because the rest depends on it.
Step 2. Select the most suitable platform
The ideal option is to create an app such as E-Trade on both Android and iOS platforms. It's more expensive, but it helps you reach the most potential users.
Step 3. Development
You must hire both frontend and backend development teams. Inform them of your requirements and make sure they take this into account. Stay in touch with the team and track the progress of your application. When the development phase is over, you will need an expert UI / UX designer to create a useful interface and design. After that, the app should be thoroughly tested. Do not skip the testing phase, as this guarantees high quality and reliability. We recommend that you run usability tests, as only this test type can ensure that the result matches the original plan.
Now let's get to know the essential features you need to include in your application to make it competitive and stay ahead.  X Essential Features to Include in a Custom Online Trading Application
- A simple authorization process is a must for any application.
- An online dashboard allows the user to view the sortable data and keep an eye on the immediate changes.
- Stock scanners provide all kinds of statistics that the user needs.
- The latest news leads to more rational financial decisions. Make sure to adapt them to the user requirements.
- Push notifications and calendars are the best way to communicate with the user.
- Portfolios make the search process easier and more convenient.
- Checklists are extremely useful to investors for planning further investments.
- Security and safety are essential to financial applications. So make sure your app is 100% safe for users to protect your brand image.
It is quite difficult to predict the cost of building a mobile trading app. It depends on the functionality you want to include and the development company you choose. The only thing we know for sure is that it will take several months to develop a high-quality exhibition application. So don't expect quick results. You can also pay attention to the costs of native app development and website app development suggested by different companies. Choose the one that best suits your budget.
The Bottom Line
Hopefully our article has given you the necessary information on how to create an exchange app like E-Trade. App development is a process full of pitfalls, but you can avoid many of them with the plan and features we have provided in this article.