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Top 13 Useful Features to Add to A Stock Trading Application

July 27th, 2023
Top Features of Stock Trading Application.

Introduction

Building a stock trading application takes serious planning, as it is vital that it complies with the stock exchange rules and regulations. Besides the development process it is also important to spend time preparing the list of essential features. However, this process can be simplified by hiring a remote developer. 

There are many features that are crucial to any stock trading application development. This article explains this in more detail along with an interesting case-study.

Top Features for A Stock Trading Application

When developing a stock trading application, incorporating the right features is crucial for providing users with a comprehensive and efficient platform. A well designed app will attract more users and ensure better engagement. So, let's explore the key feature you must add to your stock trading application. By focusing on these key components, you can create an app that meets the basic requirements and ensures a rewarding and successful trading experience.

Do you know: The annual users of stock trading apps increased after Corona Pandemic, almost doubling from 2016 to 2021. If you want to know more, check out the detailed stock trading app statistics from "BusinessofApps".

Here is a list of the essential features:

1. User registration and authentication

User registration and authentication.

The user registration and authentication process verifies a user's identity and grants access to a system. It's critical for any app, especially financial apps. By requiring users to register and authenticate their identities, the app can safeguard sensitive financial data and protect against unauthorized access, ensuring investors a trustworthy and reliable trading environment.

2. Real-Time stock quotes and market Data 

Real-Time stock quotes and market Data.

It is essential to provide real-time stock quotes and market data. The most common way of doing this is by using an API. An API will allow you stream live data from the stock exchange into your app in real-time. One has the option of integrating a ready-made library for this purpose or building a customized one from scratch. 

Several libraries on GitHub have been written by other remote developers who have already done all the heavy lifting for you! However, before deciding which library best fits your needs, ensure they support all the features needed for your application's functionality.

Do you know: As per Statista's projections, the global online trading market is set to grow at an annual rate of 6.4% by 2026, reaching a total value of 13.3 billion US Dollars.

3. Watchlist and portfolio management 

Watchlist and portfolio management.

A watchlist is a collection of stocks that you want to keep an eye on. The way this works is one can add stocks to their watchlist either by doing it manually using a dropdown menu or visiting a company’s page.

Stocks added via either method will appear under "My Stocks" with their current prices and other information displayed in columns below them: name; symbol; price ($) (or currency); change (%) over last 24 hours; volume traded today (in millions); market cap ($). You'll also see whether or not each stock has been added to any portfolios yet.

4. Order placement and execution 

Order placement and execution.

Order placement and execution is a key feature. You can place orders via the app, website or mobile app. The order can be placed by users themselves or by automating the process on the mobile app.

5. Research and Analysis Tools

Research and Analysis Tools.

To make informed decisions, you need to have access to the right tools. The most basic tool is fundamental analysis. Fundamental analysis involves analyzing a company's financial health and performance by looking at its balance sheet information, operating cash flow, profitability ratios and other related metrics. This can help you determine whether or not it's worth investing in a particular stock based on how well it performs financially compared with others in its industry or sector.

There are also several other types of research tools available. For example, tools for technical analysis. This method focuses on past price movements rather than future earnings potential when making investment decisions; however, many traders find this approach useful because it helps them gauge market sentiment. Some common technical indicators include moving averages (MA), Bollinger Bands®, MACD® histogram & RSI® oscillator.

6. Paper trading (virtual trading)

Paper trading.

Paper trading is a simulation of real-world trading. It allows you to test your app without risking any real money, making it ideal for testing different strategies and seeing how they work. It's also helpful to test your app's performance more thoroughly and identify and fix bugs before they become a problem in actual trades. 

Paper trading can be done manually by entering trades into an Excel spreadsheet or other financial software package (often called "paper trading"). Still, most people prefer using automated tools that automatically handle the buying and selling of shares based on predetermined rules.

Develop a robust stock trading application.

Revolutionize your business with a fine-crafted stock trading platform. Let's connect to understand your expectations and requirements on a free 30-minute call to build a robust and scalable development tailored to your specific needs. Book now for free consultation.

7. Secure payment integration 

Secure payment integration.

The payment gateway is the most important component of any online business. It's where you'll be processing all of your payments, and it's worth thoroughly researching which one is right for you. There are dozens of different gateways available, but they all essentially function in the same way. They connect customers with merchants (that's you!), facilitate secure transactions through an API or SDK, and provide reporting tools so that both parties can track their sales or transactions. Few charge a fee while others don't; few have higher transaction limits while others have better customer support.

8. Customer support and help center 

Customer support and help center.

A customer support page with email address, phone number, and chat option. This can be very useful if your users have any questions or issues with the app. They will be able to contact you directly without having to leave the app. Some of the popular stock trading applications are Zerodha, Angle One, and Trading Bulls which too have good customer support. 

9. Compatibility and cross-platform support

Compatibility and cross-platform support.

A cross-platform app that allows users to perform transactions on both iOS and Android devices is essential. This includes supporting different screen sizes, resolutions, operating systems (OS), browsers, and devices.

There are two main mobile operating systems like iOS (Apple) and Android. You must ensure it is available on both platforms to reach the largest audience possible for your stock trading app. This can be done by building two different apps, one for each platform iOS and Android. Alternatively it is also possible to build a cross-platform app with one code base that natively supports iOS and Android. 

You can use Kotlin, combining it with other useful frameworks like Laravel to make the app flawless. New to Kotlin? Checkout the blog What is Kotlin? to know more about this amazing application development framework.

10. Regulatory compliance

Regulatory compliance.

Regulatory compliance is an important aspect of any stock trading app. Compliance with regulations is required to maintain the market's integrity and protect investors. Regulations are different in each country, so it's important to understand how they apply to your specific situation. Regulatory requirements can be complex and vary depending on what kind of app you're developing (eCommerce vs social media), your audience (individuals vs businesses), and whether any specific laws apply to your industry.

11. Social and community features

Social and community features.

Social and community features can help you engage with your customers and provide them a better experience. Social features could include: 

  • Newsfeeds

  • User comments

  • Reviews 

12. Personalization and customization 

Personalization and customization.

It is important to provide customization options for your users. Customization after the app is deployed. It's important to be able to change the look and feel of your app so that it fits into the overall design of your website or portfolio.

13. Performance and scalability 

Performance and scalability.

Performance testing is an important part of the development process. It ensures your app can handle all kinds of small and large traffic. Performance testing also helps you identify bottlenecks in your system, so you can fix them before they become problematic.

Scalability testing determines how well an application responds under increasing load and stress. This type of testing is important because it helps developers predict how their apps will perform when deployed in production environments with real-world usage patterns and volumes. This is difficult or impossible for them to simulate on their computers during development stages.

Case Study on Stock Trading Application Development

Case Study on Stock Trading Application Development.

As a known website and app development firm, Acquaint Softtech has developed a wide range of mobile apps for many different types of companies. We recently took on a project to develop a cross-platform stock exchange forecasting application, Tradvysor

Tradvysor preferred to take a minimalist approach for the design. We used technologies like Kotlin, JavaScript, WordPress, and Laravel to deliver a stunning app. With the help of all these features, we built a robust application platform. We included many good features vital to any stock forecasting app like real-time from several stock exchanges like  Metal & Energy (MCX), National Commodity & Derivatives Exchange (NCDEX), National Stock Exchange of India (NSE), and Currencies. It also includes a secure payment gateway, cross-platform compatibility, smart notification, live support, and much more. 

If you are also planning to build a robust trading platform for your business or want to hire a remote developer or a Hire Laravel developer. Get in touch with us. We have the expertise to provide you with the best development solution.

Creating a Prototype (MVP development)

The term "minimum viable product" (MVP) refers to a version of your app released to the public. With MVP development, you can make your app with fewer essential features and monitor the performance. This allows one to gain vital user feedback to optimise your app and includes the full range of features. 

When developing an MVP, you'll need to show potential users what kind of experience they will have when using your software. If you're working with limited funds and unsure where to start, opting for MVP development would be an excellent decision. It allows you to collect valuable insights from your users and create an app without exceeding your budget.

At Acquaint Softtech, we can assist with the development of an MVP mobile app as well as a full-fledged app for the stock market. 

Conclusion

If you have a stock trading app idea, there is a way to turn that into reality! It's important to remember that the process is not easy, and it requires plenty of brainstorming to find the perfect list of features. Some of the main features are listed in this article. Not every app requires all the features hence consulting the experts might work to your advantage.

FAQ

How much does it cost to build a trading app?

The cost of any development depends on the requirements, where you are taking the development services and the geographical location of the developers. But suppose you are just starting with a trading app, then it may vary from $8,000 to $50,000 or more.

And not to mention, the stock trading application is hard to develop, but you can by hiring a developer on a budget. For example, with Acquaint, you can hire a Remote developer at the lowest price of 15/hr.

How much time does it take to make a Stock trading application development?

The time required to develop a stock trading application varies based on complexity, features, and team efficiency. Generally, it takes several months to a year, including planning, design, development, testing, and deployment phases. Factors like integration with financial data sources, security measures, and user interface design significantly determine the development timeline.

What are the top features to incorporate in Stock trading applications?
  • User Registration and Authentication

  • Real-Time Stock Quotes and Market Data

  • Watchlist and Portfolio Management

  • Order Placement and Execution

  • Research and Analysis Tools

  • Paper Trading (Virtual Trading)

  • Secure Payment Integration

  • Customer Support and Help Center

  • Compatibility and Cross-Platform Support

  • Regulatory Compliance

  • Social and Community Features

  • Personalization and Customization

  • Performance and Scalability






Mukesh Ram

Founder and CEO, Acquaint Softtech

I love to make a difference. Thus, I started Acquaint Softtech with the vision of making developers easily accessible and affordable to all. Me and my beloved team have been fulfilling this vision for over 15 years now and will continue to get even bigger and better.

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