This blog contains information for those startups and the entrepreneurs who are interested in developing a successful stock trading app like Robinhood. Here, we mentioned essential features that you can consider before creating your own trading app.
The rapid advancement of technology has changed how the whole world approaches the finances. From mobile banking to expense tracking, funds receiving to transferring, there’s an app for our every single need. The stock trading app is one such category, that is also booming in the mobile app industry. These apps ease buying and selling investments without a need of stockbroker. Let’s know more about the free stock trading app.
As we already know that the stock market has always been complicated sector to understand. So, let’s start with the best stock trading apps first.
Stock trading apps: Stock trading apps are the mobile applications, which offer commission-free trading of equities and Exchange Trading Funds (ETFs) with real-time data. One of the best things about the stock trading apps is that these apps are meant for both experienced and newbies.
Free Stock Trading App: When it comes to “free” stock trading app, it gives users the valuable insights regarding hottest investment opportunities in real time at free of cost. Additionally, these best investment apps provide users the real-time updates about the stock market as well.
Talking about the market leaders in the stock trading apps, Robinhood has secured the top place in the list. So, let’s know more about this stock trading app and the top features that make it stand out from others.
Launched back in 2014, Robinhood is a stock brokerage mobile application that allows users to buy and sell the U.S listed stocks and ETFs with zero commission. Built with an aim to provide no-fee stock trading, Robin hood app is the most popular stock trading app on the market.
In the year 2017, the financial tech company, Robinhood raised $110 million with a $1.3 billion valuation that made it Silicon Valley’s Unicorn. According to the latest report from TechCrunch, the new fundraise would bring Robinhood to $526 million in funding.
Furthermore, according to the latest report from TechCrunch, “Free stock trading app, Robinhood has a total valuation of $5.6B with the new funding round”. Also, the company has 4 million users and has passed $150 billion in transaction volume. In addition, the company is closed a $363 million Series D financing round; DST Global led this new round and Iconiq, Kleiner Perkins, Sequoia and Capital G participated.
Undoubtedly, the app has quickly managed to become famous among stock market enthusiasts because of its exceptional business model. Now, let us browse through the insights of the all-time leader of the stock trading app, Robinhood.
Undeniably, investment always comes with the risks. However, the free stock trading app like Robinhood has broken the old scenario. When it comes to finance and investment, security is one of the major concerns. And this is what app users expect the most. This is especially if the confidential credentials asked by the mobile applications. When handling the information in the stock trading app, it is important to provide your app users with security measures, which ensure them to protect their assets and personal information.
Let’s take one example, Robinhood which provides a secured and trusted platform to its app users. The company is also a member of FINRA (Financial Industry Regulatory Authority) and SIPC (Securities Investors Protection Corporation) that protects securities of users up to $500,000. In short, it gives a secured platform to use.
So, before creating a stock trading app like Robinhood, it is important to you as a startup to provide essential security measures to protect the personal and confidential information of users like bank account details and passwords.
You might be aware of the fact that the stock exchange is not easy to understand. So, before creating a stock trading app like Robinhood, startups need to consider following points:
Therefore, a well-designed structure makes Robinhood likable among its users. A user-friendly UI design is another pivotal feature, which startups need to consider before creating stock marketing trading app like Robinhood stock trading.
Another feature is – smart notifications, which is common yet essential to consider. Such feature provides app users a customized news and push notifications of scheduled events like earnings, dividends or splits in advance. Users can get notifications via email or SMS.
By getting the latest information on stock market, users can get up-to-date information at the right time. Furthermore, an ideal stock trading app must provide users a range of usable features like statistics and market analysis, stock market utility integration, history of holdings and customer support.
To build a successful stock trading app, it is important to provide your users with an ability to track real-time market data. With this feature, users can get latest market data from exchanges. Also, the app users can get timely quotes for free at any time and anywhere. Thus, you can consider this handy feature, because, it can cut expensive fees of brokerages.
So, if you have ever thought of creating an app like Robinhood, then you can provide your app users with some additional handy features like pricing filters and fastest execution, which will be beneficial for them.
A FinTech company, Robinhood has come up with an exceptionally clever business model in terms of the stock trading mobile app. This business model has already accepted by millions of people.
So, to build a clever business model like Robinhood, it is important an ideal mobile stock app must be secured enough for personal credentials of users like bank accounts, debit and credit card information and social security numbers.
The stock exchange is pretty hard to master, however, the development of a right stock trading app can make trades much easier if it is done by any professional iOS/Android app development company. Also, it is essential that the team of developers, who work on such apps, must be specialist and have a profound knowledge.
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