The idea to make a stock tracker app will certainly have a great potential for both startups as well as some big names in the app development industry. These products are in a huge demand as they deliver essential opportunities for traders who seek for in-depth analysis and statistics always by their side. Today we are going to move on to fundamental data, features and key objectives before launching stock tracking app development.
Reasons to Create a Stock Market App
First of all, let’s think of why you may want to develop stock trading apps. The first stage of the development process includes preliminary marketing researches. The main idea at this stage is to define whether the entire niche has a potential and is it really worth getting involved.
One will hardly argue the investment market is extremely popular with investors and traders from across the globe. Moreover, the trading culture appears to be rather ripe especially when it comes to the US-based stock market. European marketplace will hardly be an exception. For this reason, the whole idea to develop a stock market investment application seems to have a great potential.
The stock market appears to be the most attractive niche when it comes to investments. Traders are ready to invest their last cent in bonds, gold, mutual funds and other types of assets provided by modern exchange market. Considering the above-mentioned stats, it becomes clear that building apps for investors and traders is a good idea.
How to Develop the Best App for Stock Tracking Market?
Once you have realized your app for monitoring the stock market can be a huge success, it is high time for you to define your target audience. Considering the stats we have mentioned, you are supposed to target people aged 30-40 who are constantly in search of new ways to bear fruit and make extra cash with minor risks.
As a rule, those folks are not devoted moneymakers. They simply want to have a reliable financial background until they retire. Professional traders and stock brokers may form another group of your target audience. They may seek for better trading conditions, as a few brokers and websites really try to meet their expectations.
Check out the following list of major problems both investors and independent stockbrokers may face. Your stock marketing investment application may turn out to be their problem solver.
Opting for a financial advisor is not always a good idea whenever you seek for maximum returns. Those who hire advisors usually get not more than 5% of return. That would hardly be a problem unless you start with a $50,000 portfolio, for instance. In this case, investors are very unlikely to appreciate their 5% return within 30-years span instead of 12%, aren’t they? The difference may count millions of losses.
Lower Risk? Really?
The reason why most traders opt for their financial advisors is the fact they tend to play it safely. In other words, opting for assistants may come with a much lower risk of losing money. It would sound great unless it was not a common delusion. The fewer the risk the lower your compensation for risk. In other words, a few advisors come with a high enough risk-adjustment.
Inability to Act In Trader’s Interests
You have probably come across numerous offers and promises of some most efficient and reliable advisory tools. It appears that a few of them can really meet your expectations. You should always keep in mind that none of those options is obliged to suit you or operate in favor of your own interests unless we consider advisory-government accounts.
Summing up, we have determined the key problems for the stock market. They may guide you in the right direction when launching stock tracking app development and concentrating on the key issues of the niche to deliver the best solution. Your tool may let traders handle the following:
- Act in their own interests taking respective action;
- Perform the right risk-adjustment strategy and ping their financial advisors.
The Most Popular App for Investors: Competitors’ Analysis
The key to success is to discover the entire list of your customers’ frustrations. We can now observe a rapid growth of different trading software and robotic advisors that are believed to provide essential market management tools. In spite of all possible misses and pitfalls, trading software is extremely popular with investors. If you are able to deliver something more efficient, you will certainly succeed. Think of some new features you can implement.
Your particular app can be not only a tracking tool but also a reliable advisor to come up with prompt suggestions when it is the right time to buy or sell different assets. Making the right decision on time is the magic formula for every trader. Let’s see what features other award-winning stock apps have and if they are very popular with users.
But first, we should use the Google Trend tool that reveals the following data:
- 47% of iOS users search for investors’ applications in their App Store;
- 3% of Android users search for the same apps at Google Play.
Now we gonna learn more about some popular apps in the niche.
Free Trading App: Robin Hood
The application has already hit the headlines and took the entire trading community by storm. It has proved to be the handy tool that does not charge any fees for unblocking accounts. Available for iOS devices only, the product has won several prestigious awards including Apple Design Award in 2015.
Real-Time Stock Tracker
Every time you think of building a tool for traders and investors, you should think of some better solutions that will put an ease on their operation featuring lower price, you should think of something equal to Stock Tracker. Although the app cannot boast millions of downloads, it still has 30,000 regular users and great search engine rankings.
What Features Should A Stock Tracking Application Have?
You need to think over the key features you are going to implement in your app. Here is the list of some possible ones to consider:
- Stock data tracking in real time;
- The ability to look through different stocks at the same time;
- Alerts and notifications on any change in real time;
- The range of stock options;
- Global currency overviews and market analysis;
- Portfolios available for exporting;
- Stock scan;
- Forecasts, analytics and more.
These are only a few of major features that can be implemented in your app. In case you search for something more advanced and unique, you need to perform an in-depth analysis of the niche defining its key problems and challenges for your target audience.
How Much Does the Development Cost?
As a rule, the cost of building an app depends on the amount and complexity of features you want to implement. The price will actually be proportional to this parameters. In some cases, back-end programming may be necessary to create and support various streams of information. If you opt for local developers, the price for the entire development process may start from $25,000. Outsource companies may charge from $15,000.
As you can see, the process does not seem to be rather difficult. It will never be a tough issue for experienced developers to integrate real-time data and regular updates. Contact our professional team that deals with advanced tech stack in addition to UX/UI design and proper development timeframes. Get in touch with us now.