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How to Create a Stock Trading App Like Zagtrader? A Complete Guide to Learn Trading App Development

  • April 2, 2020
  • By priyanka negi

Gone are those days when investors have to rely on an awaited response from stock exchange to monitor the ups & downs in the stock market. Apart from tracking day to day activities, stock trading enthusiasts are switching to mobile apps to reduce the risks of traditional stock trading options. When it comes to investing, the idea of trading app development strikes on the mind of millennials who want to commence the digital transformation in the stock trading industry.

The way mobile app technology is altering stock trading practices, you can predict the success of apps like Zagtrader, Robinhood, e-trade, etc. in the coming years.

Although only a few brokerage businesses are likely to invest in stock market app development in the beginning, the consistent repulsion to traditional trading methods continues to encourage them to hire a trading app development company for their target customers.

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With the right guidance & planning, introducing a feature-loaded stock trading app like Zagtrader can thrive in your business in no time.

As per a report by Statista, the online stock trading market has yielded double-fold profits with a strong user base among youth.

The graph below reflects the scenario of the stock market that includes American investors from varied age groups.

graph stock market by age

Since the global stock market is adapting mobile app platforms, we can predict that trading apps users will continue to increase in the international market. Take a look at the below graph to analyze some stats on the distribution of countries with the largest stock markets in the last year:

Why Invest in Trading App Development?

When it comes to the benefits of investing in trading app development, you cannot ignore the popularity of stock trading apps among investors from varied businesses & age groups. It is an unquestionable fact that apps for stock trading carry a massive user base and that’s why hiring trading app developers is a good decision to stock brokerage firms.

Today busy investors are fond of using stock trading apps to stay updated on the status of their portfolios. And they tend to take paid membership to become prime users and avail extra benefit with premium features of stock trading apps like Zagtrader & Robinhood.

So, now you can see the scope of advantages of trading app development both in terms of money and branding.

After getting familiar with the top reasons why you should get a stock trading app like Robinhood and E-Trade, you must be excited to know how to build a stock trading app for your business.

Steps to Build a Stock Trading App

Here are the key steps to create a trading app with useful features:

1. Get Started with the Project

Start your project with a team of skilled and experienced project managers (PM), IT engineers, & staff of business analysts with proven specialization in the finance and trading services.

You’re creating a mobile & web app, your strategy for trading app development must go around SoEsi.e Systems of Engagement and therefore you should use Agile methodology for your project.

During this phase, you must outline a strategy for Minimum Viable Product i.e MVP on the basis of these key pointers:

  • Gather some useful insights by conducting thorough research work on the market.
  • Get indulged in discovery sessions to analyze customer behavior and identify their preferences, likes, & dislikes in terms of trading & stock exchange.
  • Start incorporating tools like prioritization matrix to give maximum proximity to the app’s MVP and its features.

2. Define the Project Scope

We suggest you make sure that your stock trading app development strategy includes a multilingual option so that English-speaking customers can use your stock tracking app either it is a web app or mobile application for Android &iOS.

3. Define your development approach

Do consider these factors to outline your approach for trading app development:

  • Go for managed cloud services such as ‘platform-as-a-service’ and ‘mobile-backend-as-a-service’ to formulate your app development approach.
  • For core features, you must design and develop APIs separately but for non-core features such as push notifications & user profile, you can integrate preferred 3rd party APIs.
  • Build native apps as they offer better user experience with enhanced security & performance.
  • To upgrade your test coverage, you can work on a mobile device and browser lab on the cloud.

4. Sign-up For 3rd Party APIs to Leverage Basic Features

If you’ve learned the basics of how to build a stock trading app then you must have a familiarity with the core features of online trading. Make it clear that providing market data in your app is not its core feature as investors have other alternatives for this. It is better to integrate a popular 3rd party API to gather market insights, just like Xignite.

5. Build APIs for Core Features of  Your App

All of the features & add-ons for trading are important for your stock trading app. To implement these core features, you must design & develop APIs alongside taking these key steps:

  • Use swagger for API documentation once you’re done with API development & testing by leveraging tools like Postman.
  • Use your AWS account to host these APIs.
  • Reduce all API security risky by implementing encryption, authentication, quotas, gateways, throttling, & other processes.
  • Learn to manage API development, staging, & all sorts of tasks as per your efficiency.
  • Run MongoDB as NoSQL&PostgreSQL as RDBMS databases for your APIs.
  • Ensure that the APIs are compatible with web, Android, and iOS.

6. Core Features of a Stock Trading App

 Here are some must-have features of a successful stock trading app:

  • A portal for the check-in process
  • User profile
  • Real-time portfolios to get status of their investments
  • Option to execute order & track flow of funds
  • The search option to check active stocks
  • Push notification on stock updates
  • Market analytics & stats on trades, transactions, & more

 Final Words on Trading App Development

If you’re influenced by an idea of getting a stock trading app then you can consider popular apps like Zagtrader, e-trade, Robinhood, Stash, & other apps. However, there are certain challenges that every trading app development company faces while building bug-free, high-performing, & secure stock trading application with useful features & functions.

Now, you might be thinking about the budget for your proposed stock trading app, right? Even though factors like platforms, technology, a team of developers, timeline, complexities, etc. decide the charges for a project, the cost of trading app development is supposed to vary b/w $40k to $60k. After going through this blog, we can say that you’re ready to go ahead with trading app development!

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priyanka negi

Priyanka Negi is a content specialist who works as a technical writer at MobileCoderz Technologies. She holds remarkable experience in SEO writing for several industrial domains. Her adeptness in technical writing is backed by a proven track record of being a prominent professional in the IT industry.

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