Information technology has transformed the stock trading industry. Just a few years ago it was believed that investing could be complex and needed specialized training.
But, thanks to the development of investment apps it is now so easy that even teenagers are able to manage it. The past was when you needed contact your broker in order to make an investment or sell your stock. Nowadays, you can make use of your mobile phone when doing business transactions.
The mobile app development the market could be a lucrative idea for both entrepreneurs and established companies.
Let's look at the primary motives to develop an investment application like Acorns for the market.
If you plan to create a mobile application for investors, it is important to be aware of the audience you intend to appeal to.
Micro-investments became popular because 69 percent of Americans are less than $1,000 in their accounts.
Market Overview for Online Investing
The first step is to understand. It is important to understand the market you're looking to join. The gist of it is:
- In 2020 the year 2020, 55% of the adult citizens in the USA put money into the stock market as the most effective long-term investment choice.
- Robinhood climbed to $682 million in payment-for-order-flow revenue in 2020.
- A staggering 10 percent (roughly 33 million) of Americans have cryptocurrency accounts across the USA.
- Nigerians (32 percent), Vietnamese (21%), Filipinos (20%), Turks (16%), Peruvians (16%), Swiss (11%), Chinese (7%), Americans (6%), Germans (5%) as well as Japanese (4 percent) claimed to have used or owned cryptocurrency in 2020.
- It is believed that the USA, Singapore, the UK, Estonia are the top three countries in terms of the amount of ICOs.
In the present, USA, Singapore, the British Virgin Islands, Switzerland and the UK are the top three countries in terms of funds raised.
- More than 50 percent of Australians who are younger than 40 will have crypto until 2024.
- The most well-known online platform for investing include Webull, TD Ameritrade, Acorns, Robinhood, Stash, Interactive Brokers, Merrill as well as Fidelity Investments.
Are you wondering about what we're thinking? It seems like now is the best moment to create an investment system.
What are the features it should include?
Essential Features of an Investment Application
The features you'll need develop will depend on the nature of your investment app. For instance, if you offer consults with advisors who are human, Live chat is one of the primary features for investment app development.
Robo-advisory applications will require recommendations and robust analytics. Let's look at the features that are likely to be found in any investment application.
Registration and On-boarding
It is recommended to offer users the option to sign up using a phone number, email address, or using alternative ways.
Investment apps also need documents verification features, since they need to ensure that the they are authentic users.
After they have registered After they have registered, you must show them around the app. Show the users around and emphasize the most important features as well as the investment pipeline.
Investor Portfolios
Your clients must be able to manage, edit and modify their portfolios within the application. This means that they will be able to look over their portfolios, view statistics on each asset, as well as expand their portfolio.
Personal Profiles
A profile for a personal user should include details about the person's preferences for payment options and the portfolio of the user.
It is also possible to modify personal profiles with settings.
Push Notifications
Connect with your customers through push notifications. Inform them of the latest investment options, new market conditions, recommendations from your experts, and so on.
Real-Time Stats and Analytics
Display information about the market's conditions in your application. Display historical data about the performance of assets, let users to keep track of their earnings and expenses, and so on.
Be sure that data is visually presented Make use of graphs and charts to help clarify the information.
Online Transactions
Integrate a secure payment method in your application to guarantee secure transactions. PayPal, Braintree, Stripe and other payment processors are ideal to do this.
But, you must be aware of your app's intended audience and the location of your app, since certain payment gateways aren't compatible in specific areas.
Withdrawal
Users should be able to transfer their investment funds into their accounts at banks according to trading regulations.
To do this, you'll have to connect the bank account of your application.
Investment Option Rankings
Each investment app should offer users some type of direction through statistics or rankings. The most effective options for investing that have shown improvement in recent months or days so it is more straightforward for investors to come to an informed decision.
Sorting and Searching for Stocks
Let your customers look for stocks. Sorting and filtering the search results as well as dividing assets into categories to facilitate navigation.
Also, you can create an intelligent search to provide more enjoyable user experience.
Investment Advice
Alongside giving users ranking and analytics in visual form You can also incorporate suggestions into your app. Certain apps assign human advisors to users, while other incorporate robot advisors.
However, you approach it your app will be 10 times better if it offers users some guidance on investing in particular if the app is targeted to novice investors.
Types of Investment Apps
There are various types of investment mobile applications available for purchase. They are also very different in terms of the capabilities they offer.
Banking Apps
They are the classic banking apps. Banking apps offer the convenience of accessing your bank account, and can assist you in managing your finances.
The most well-known applications for banks are Bank of America and Capital One.
Apps for Investing
Investment apps create an online platform for clients and brokers can interact with one another. They are mostly focused on offering advice services.
Their main goal is to make it easier for you to manage the investment process. Examples of investment apps include Betterment, Invstr, and Acorns.
Apps for Trading Stocks
The name suggests that stock trading apps permit users for trading stocks. Apps for mobile phones like these can remove the need to buy shares through brokers.
8 Tips for Developing an Excellent Investment App
Here are few tips that will surely help you to create a robust and seamless investment mobile application for your business.
Market Research
The initial step in creating an investment app is conducting market research. But before taking any action, you must analyse trends in the market and choose the people you wish to attract.
It will help you find trusted investment apps and also what makes them well-known. This will help you integrate relevant features into your application.
Compliance with the Regulations
When you are developing an investment app that you want to develop, take note of every particular. Furthermore, because you'll be storing sensitive data of users and data, your app must be compliant with the General Data Protection Regulation.
You may want to make your own investment app. The rules vary between regions Therefore; you must follow the regulations in the particular country.
If you're developing an app for the UK, you must apply for approval from the Financial Conduct Authority.
Investment applications for the US must comply with:
- The regulations apply to The rules of Federal Trade Commission (FTC)
- The statutes are governed by the Consumer Financial Protection Bureau (CFTB)
Hiring App Developers
The most important step in the procedure is developing an app. If you're planning to build the top investment app, ensure that you select highly skilled developers.
Outsourcing is the best option for creating an investment application completely from scratch.
MVP
Check to see if your investment app includes MVP features. If you're not sure of which features you'll require begin with an app that has bare features, and then add more later.
Focus on UI/UX
Within 50 milliseconds of the launch of an app, the majority of users decide on their own whether they want to make use of the application or not.
Users appreciate apps that offer an easy and simple user interface. The UX will help user’s complete tasks quickly.
Idea Usher has various UI/UX experts that can assist you to create an appealing and visually pleasing application.
Coding
The Android app development or programming process is the most crucial element of the development process.
The process of development can be broken down into multiple segments known as sprints. The developers, in conjunction with their app testers, make sure your app functions as it ought to.
App deployment
The deployment stage is the final phase of the development process. A reliable mobile development firm will make sure that your app is free of bugs and will test every function and button in detail to eliminate any bugs that might be present.
It is now possible to start your app on any platform you want to use such as Google Play Store or Apple App Store.
Post Launch Support
Following the release to the public After the public release, we continue to track your online investment app's performance, optimize speed (if required) and fix any bugs that remain and make suggestions to improve the app.
Cost of Developing an Excellent Investment App
Everybody would like to know the cost of mobile application development for investors.
While we'd love to share the exact figures, they'd be a bit unsubstantiated. However, we are able to provide a rough estimate, but it could be larger or smaller.
If you're looking for an integrated solution that will take care of everything from gathering the required information to launching your app on AppStore as well as Google Play, the price starts at $57,000.
If you've got the specific requirements and the design the design, we'll require the development of the solution, and the cost starts at $45,000 in this case.
Have an App Idea? Talk to Our Consultant!
The Key Takeaway
Acorns Robinhood, Stash, Betterment weren't rock stars within a matter of minutes. They were just ideas that popped into the heads of someone.
It's the perseverance and efficiency of their creators that makes these platforms so well-known and extensively used. If you've got a clear vision (and we're certain you have) of your investment app development process, you'll require an extensive guide on how to make it happen.
We hope that this article will help you on your quest to create the perfect edition of your investing application.
