What the user needs from an investment app and what mistakes in it cause irritation? First, before you start trading app development, you need to understand the basics of investing and trading. Before you apply to developers for stock trading app development, it is important to understand how modern brokers work and how trading works.
Before you start trading app development, you should thoroughly prepare for the interface creation. For this purpose study the 10 most popular brokers: register with them, and try trading. This will help you understand what users expect from this tool. Let’s highlight a few basic checkpoints that distinguish the investment app from others.
Interest in mobile trading from retail and professional traders
Why should you invest your money in trading app development? At one time, the introduction of digitalization radically changed the concept of trading. But today technology continues to evolve rapidly, so the rules of the game are changing again. More and more users prefer to use their smartphone as a trading tool.
Such projects appeared quite a long time ago. But because in the past the number of available functions was very limited, the demand for such apps was not high. But today, thanks to developing technology and the introduction of new solutions, more and more traders prefer to trade using their smartphones.
Statistics in favor of mobile trading
In the first quarter of 2022, 60% of trades were completed on mobile devices. Desktop apps accounted for the remaining 40%. While this statistic is not representative of the entire industry, it clearly shows a trend.
The prevalence of trading transactions using desktop apps is steadily decreasing. Statistics show that many clients use the desktop version for easy charting and testing on historical data, and the mobile version to manage positions on the go.
In the near future, we will see many changes and innovations that will change approaches to trading. So you have a chance to invest in trading app development today.
Features of investment apps
The main thing that any trader needs is for the app to be user-friendly, work quickly, and without errors. When the price can change several times per second, any freezes or long load times are a complete failure: users will lose money and time and then simply switch to another broker who has no such problems.
You can use the standard architecture for the industry, which still needs some additional elements. Standard architecture is convenient for developers: it’s clear in advance how to write code trading app development, how the app will behave in different business scenarios, and how to simplify self-testing. Each element of the architecture is documented, so the customer’s team, which will support the app, will be able to work with it easily.
The app should work from both a phone and a tablet
Future users include both experienced and novice traders. That’s why the app had to work from both the phone and the tablet. Beginners are just getting acquainted with a broker and they don’t need most of the complicated options.
The program allows them to buy and sell, see statistics on the portfolio and track changes in the open position and, if necessary, close it promptly. All of this can be done from a smartphone. Only basic features are needed for a smartphone: the value of the portfolio, quotes, performed operations.
During the trading app development, note that the advanced trader does not have enough of these features. He prefers to use a tablet, because it has a bigger screen. He/she needs a full-fledged trading terminal, where he/she can analyze the market depth, or place complex trade orders. He needs additional tools for analysis: charts, candlesticks, and indicators.
An advanced trader also uses the app on the phone, but only to promptly follow open positions. Nowadays, almost all mobile apps of the broker work in this way. However, not all of them manage to optimize it completely. For example, applying famous brokers has some feedback from users who say that it is not convenient to work with it from a tablet and that it is impossible to work with charts.
The app must be convenient
This is an obvious point, but nevertheless in many apps for trading, users complain that it is difficult to understand. During trading app development you must define the main elements that users want to see in the app – the chart, the stock market, apps and quotes. It is better to put them on the main screen.
Trading app development: What is different about the design of investment apps
Most of such apps are designed in a dark color theme, because it is more suitable for work in the evening and at night and more favorable for the eyes, if you spend a lot of time near the screen. The apps of the largest brokers today are designed in a black theme. Some projects support two modes at once – they could switch from a dark “night” theme to a light “day” one.
So feel free to choose the dark theme. Make the other elements stand out and contrast. Buttons – yellow-orange, because this color is clearly visible against a dark background. For fonts, white is fine, but a certain degree of intensity.
Bottom line: what’s important in a mobile investing app
- The app should work on both a tablet and a smartphone. In this way, you will be able to consider the needs of both beginners and advanced traders.
- It is important to provide a user-friendly experience with the app.
- Most often, the design of apps is done in a dark theme. It is more convenient than the light one, because traders look a lot at the screens and often work at night.
- Stable operation of the app and fast data update is very important.
Innovative technology helps remove some of the drawbacks of mobile trading. Traders can now manage their algorithmic strategies from their phones. Cloud trading and cross-platform solutions will win in this ever-changing environment. If you want to invest your money in trading app development, it is better to order the creation of a project from professional developers.
Disclaimer: This is a guest post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.
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