The charts should be filterable, e.g., by period, assets, or wallets. The dashboard should consist of the primary information that the user needs to see right away when opening the stock trading app, such as: ? In the Moneyfarm app, one of the FinTech projects we worked on, signing up included providing personal details, going through anti-money laundering checks, filling out the investor profile questionnaire, and undergoing customer verification. When the registered user logs in, two-factor authentication should be required to protect sensitive financial data inside of the application.
The long registration is also useful for potential customization of the dashboard or investment suggestions. After completing this step, the user should be able to start investing. To give you an idea, you might want to incorporate a chatbot to make the form-filling experience even more user-friendly. Still, this process should be as easy and fast as possible, which is why including animations, icons, and a progress bar is a good idea. It can be supported by proven API providers on the backend, such as Veriff. The KYC process consists of steps that verify the users’ identity, occupation, and income to reduce the risk of fraud. Easy log-in lets your users utilize the features that do not require more in-depth user information for the financial and trading features, they need to complete a long registration/KYC/AML. Revolut, for example, lets you register with your basic personal info, email address, and verifies only your phone number. The former should be easy and contain as few steps as possible. Usually, the registration is divided into short and long registration. Let’s now see what features the successful apps have, what you need to build one, and what APIs you can leverage to develop your product faster. What are the features of a successful trading app like Robinhood?
defining the features of the application that will serve your users the best,.There are certain steps you need to take to find out about it: So who knows, maybe your trading app will become a new unicorn on this market? Each app has its niche and way of working, and many may still be undiscovered. It shouldn’t come as a surprise, really since more and more users are up for this kind of trading, the demand for new apps enabling it grows. As I’ve mentioned above, there are plenty of them on the market, and new ones keep appearing.
Since the finance and banking industry is more open for non-banking institutions nowadays, the startupers are free to build apps that let the users trade assets with no limits. Can I build a stock trading app like Robinhood myself? Other popular stock trading apps are TD Ameritrade, Webull, Ally, E*TRADE, Acorns, Stash, eToro, and Revolut. They generated $682M in payment-for-order-flow revenue in 2020, a 514% increase compared to the previous year. Let’s take Robinhood as an example since 2017, they’ve been growing by 4 million users annually. It goes without saying that the demand is growing, and the well-designed apps that have the right market strategy are really successful. The online trading platform market had a value of $13.1 Billion in 2019 and is projected to be $18.3 Billion by 2027. They offer financial instruments like stocks, fractional shares, ETF’s, precious metals, bonds, and more. The current state of the stock trading apps market ? Want to know more about Open Banking? Check out this article. How do they do it? One way is by offering robo-advisors that analyze the indicators and make decisions based on objective criteria. This, in turn, makes companies releasing them come up with new ways of educating the users to give them the possibility to invest and a bigger chance of winning.
That’s why stock trading applications like Robinhood get complaints from users about unsuccessful performance. Without experience and enough time to monitor the market, you might end up struggling with getting any return whatsoever. Sure, but with the fun comes responsibility. Now you can talk about your trading adventures at parties.
The next steps? Watching how your assets perform with full transparency, getting pulled by the beautiful UI, becoming familiar with the market insights, analyzing the graphs, maybe seeing how your friends are doing.
Download a stock trading app of your choice, deposit money and buy the shares. Imagine that you want to acquire a few shares in Tesla. Remember the times when stock investors belonged to a small group of people visiting their brokers to deposit money and keep track of their portfolio? Well, these times are long gone.