How To Build An App Like StockEdge

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Hello There!!

Do you want to build an app like StockEdge? Then you must keep reading this blog. 

Digital platforms are now available for stock traders to automate many processes, improve accuracy and refine trading strategies. StockEdge, a custom-made stock trading app, offers modern solutions to gather and analyze large amounts of data.

Youthful generations’ perceptions of banks are deteriorating every year. You are unlikely to see a Millennial or a Gen Z waiting in line at a bank desk. They are more likely than not to invest in the stocks of large companies or startups. Nevertheless, they are overwhelmingly in favor of mobile trading apps. Robinhood, for instance, has 40% millennials as users and 32% Gen Z. Every year, the demands and needs of millennials and Gen Z grow. 

It seems like a great idea to build an app like StockEdge! We will walk you through creating a stock-trading application. This process involves many steps. You will also learn how to make money with them.

So let’s begin.

What is StockEdge?

StockEdge provides thorough research and analysis of the stock market to aid traders and investors in making wise choices. StockEdge offers many tools and features for analyzing stocks, tracking market trends, and exploring investment opportunities. Users can view real-time data on the market, perform fundamental analyses of companies, and access technical charts. StockEdge offers a variety of filters, screeners, and scanners that help identify stocks based on predefined parameters. It also offers educational resources, news updates, and expert insights to improve financial knowledge. StockEdge’s user-friendly interface, combined with powerful analytical capabilities, aims to help individuals navigate the complex stock market.

StockEdge App-Well Known Facts

• Vivek Bajaj is the founder of Stockedge. he founded StockEdge on May 6, 2016.  
• Statistics show that 2.4 million accounts were opened in 2016, the highest number since 2008. Of these, around 30% are still active. One of the main reasons is that people lose money on their first trades, which are often based on ready tips and targets.
• StockEdge raised $1.61M total funding in total over two rounds.  
• The first funding round took place on October 1, 2018.
• Its most recent funding round was a Seed Round on July 06, 2021, at $1.34M.
• Kotak Securities, the lead investor in this round, was joined by 1 other investor.
• StockEdge is India’s top-downloaded Financial Market Analytics App, with over 2,00,000. Users have given it a strong rating of 4.7 out of 5 on Google Play Store.
• StockEdge spread organically by word-of-mouth to 50000 users within four months after its launch.

How Does a Trading App like StockEdge Work?

Trading apps act as a middleman between investors and the stock exchange. It automates the many functions of a stockbroker, including placing orders, selling stocks, and displaying market data.

Trading Apps like StockEdge are very similar to other fintech apps, like mobile wallets. Users can deposit money into the app either by linking their bank account to it or manually sending funds to it.

The difference is that these apps are also marketplaces. They are connected to major exchanges, and they list all financial assets the user can buy or sell. When a user purchases a stock, it doesn’t happen in real-time.

The app will then send the buy order to the exchange, and look for someone who is willing to sell the stock. The trading volume can vary from minutes to days depending on how quickly the process is completed. Users can connect to the two main types of stock exchanges using most stock trading apps.

On established markets like the NASDAQ and the New York Stock Exchange, investors can buy shares in publicly traded corporations. Other financial instruments, such as exchange-traded funds (ETF) and commodities such as gold are also offered by some.

You can buy and trade cryptocurrencies like Bitcoin, Ethereum, and Ripple on crypto exchanges. These exchanges consist of Gemini, Coinbase, and others.

Platforms often receive a percentage of profits when a trade is successfully completed. Some applications provide flat rates, which is advantageous for customers who do a lot of trading. The money or asset that is generated from the trade will be transferred into the user’s account.

The cash can be withdrawn at any time and is usually credited to the mobile wallet or bank account (in the case of cryptos). In a nutshell, that’s how trading apps function. Many trading apps offer additional features such as research, real-time data, and learning resources in order to differentiate themselves.

Examples of Top 3 Trading Apps 

In order to Build an App Like StockEdge, you must first go through its competitors and how they stand out in the market. 

Robinhood

Robinhood, a financial service company in the United States, allows its users to open low-cost brokerage accounts and invest in stocks around the world without paying any commissions. FinTech startup worth $5 billion. It is a unicorn. Robinhood is one of the FinTech Companies to watch in 2023.

Stash

Stash’s mission is to help you grow and invest your wealth. This FinTech solution focuses on helping young investors manage their money effectively.

Stash’s platform is also designed to educate users about a variety of financial and investment topics. The application offers a flexible investment option, which allows users to select investments or choose a fully automated intelligent portfolio.

TD Ameritrade

TD Ameritrade allows all users of the app to choose their own trading strategy regardless of their experience level. It contains educational content that helps users better understand the market and invest. For this reason, beginners in investing are advised to use the app.

Why Invest in a Stock Trading App like StockEdge?

Accessibility is the key benefit of an app that allows users to trade stocks. Trading apps can make investing cheaper. Some platforms charge lower fees than brokers.

StockEdge, for example, offers commission-free trading. This allows you to trade without paying a penny and still keep your profits. Trading apps make the stock exchange itself more accessible. Trading was once only for the wealthy.

You needed a broker in order to make your trades, something that most people did not have. Trading apps changed all that. You can now view and purchase the best stocks on your smartphone with just a few taps. This is the primary reason for the sharp increase in interest among casual users.

When people were stranded at home during the epidemic and looking for methods to earn additional money, this phenomenon took off. Even in Pakistan, a small country with traditionally few retail investors, the number of traders has exploded.

K-Trade was not a coincidence to be the fifth most downloaded app at that time. Trading apps have completely changed the financial landscape, and are rewriting rules for stock markets. It’s also a great investment for StockEdge app developers.

Features to Integrate into an App like StockEdge

StockEdge app development allows users to start investing and selling stocks and must add premium features to achieve better profits. In order to Build an App Like StockEdge, you must check out the features that StockEdge, and other free stock-trading apps, possess.

The app offers a powerful stock screening tool, which allows users to filter stocks by various parameters, such as price and market capitalization. It also includes financial ratios and technical indicators.

Users can create personalized watchlists and manage them to track and monitor the performance of their favorite stocks in real-time. Watchlists are customizable and can be organized according to specific criteria or investment strategies.

StockEdge provides a variety of charting and technical analysis features. Users can use StockEdge to analyze stock movements, identify entry and exit points, and apply different charting patterns.

The app offers comprehensive financial data for thousands of businesses. Users can access the financials of companies, balance sheets, and profit and loss statements as well as other fundamental metrics in order to assess the financial health and performance.

StockEdge aggregates information from multiple sources and provides market updates and alerts in real-time. Users can keep up to date with the latest news, including earnings announcements, regulatory updates, and other developments that impact the stock market.

The app allows users to monitor and control their portfolios. Users can monitor their portfolio performance and view realized and unrealized losses/gains. They can also generate customized reports.

StockEdge offers market experts’ opinions, research, and analysis. Users can gain valuable insight and make informed decisions by accessing articles, blogs, and recommendations.

The app provides educational resources, webinars, tutorials, and other tools to improve financial knowledge and trading skills. The app offers a variety of educational resources to keep users up-to-date with the latest market trends and new investment strategies.

Push notifications are another must-have feature for your online trading application development. Your users should receive notifications about the movement of their stocks, but you should time them so that they don’t bother busy investors.

Stock Trading App Development: An Ultimate Guide

How to Monetize a Stock Trading App like StockEdge

build an app like StockEdge designed to help manage investment portfolios and facilitate buying and selling on trading platforms.

App owners can also profit from such apps, not just traders and investors. On the basis of an analysis of stock trading applications, we can conclude that commissions are the primary monetization strategy. Transaction fees. You can then charge a percentage of each trade made by the trader or investor.

Second, the freemium model is a great way to make money from your app. Free access to limited functions as well as an upgraded version with higher standards that unlocks the full functionality.

In-app advertising and referral revenues from checkout orders are other revenue streams. You can also pay for access to tools and technologies, such as APIs, or use them.

Tech Stack to Build an App like StockEdge

You need to hire mobile app developers who are multi-skilled when it comes to creating an app like StockEdge. The team of developers that you hire must be able to use a variety of technology tools. Each project will have its own set of programming languages. This is a list of approximate programming languages that can be used to develop a trading application.

Steps to Build an App like Stockedge

Stock trading applications are online systems that allow users to sell, buy and manage stocks easily on a trading platform. Here is how to Build an App Like StockEdge:

1. Start the Project

Choose a team of experienced financial software developers to Build an App Like StockEdge. Plan the MVP with their help.

• conduct Market research
• Organize sessions to understand what your customers want and how you can solve their problems with fintech
• Use tools such as the “pain and gain map” to prioritize features in your MVP.

2. Define the Scope of the Project

Along with your team, plan the creation of your mobile trading application. Make a list of the features and capabilities needed to build your own trading app. Talk about how long it takes to develop an app. The developers will set the timeline for the scope of the project, with input from sales, project managers, and clients.

3. Get your App Secured

Security is a big issue when it comes to the creation of trading applications. Due to the sensitive information that goes into app creation, the stock trading industry is now subject to stringent rules. Mitigate application security risks such as XML External Entities (XXE), Injection, Cross-Site Scripting (XSS), and more. Use features like multi-factor authentication, next-generation firewalls, and bank-grade encryption to increase security.

4. Design the Core Features

Use managed cloud services like Platform-as-a-Service (PaaS) and Mobile-Backend-as-a-Service (MBaaS) platforms to speed up your development process. Then, you can design and develop the APIs to implement the core features. Use third-party APIs to implement non-core features, such as push notifications. Build a mobile application that provides a world-class experience for users, and is fast and secure.

5. Organize your App Development Team

Your choice and organization of a development team will determine the answer to the question “How do I make a stock exchange app”. It is better you should hire a dedicated developers team who can Build an App Like StockEdge in less time and budget. Your team should be able to:

6. Create APIs for Core and Non-Core Features

Your app should focus on trading features. To implement features immediately, start by designing and developing APIs.

• Use tools such as Postman to accelerate the API development process.
• Host API utilizing your AWS account.
• Reduce the security risks associated with APIs by using encryption, authentication, and throttling. 
• Manage your API development environments and staging environments efficiently.
• Check that the API is compatible with Android, IOS, and web devices.
• Create meaningful URLs to get effective requests and answers.

7. Testing, Delivery, and Maintenance

Once your stock trading app development has been successfully published, you must go through a rigorous testing procedure on several platforms. Your QA team can help you identify and fix any bugs or glitches. Apps are tested on mobile devices.

It is then noted what the defects are and what they do not function. Your app also needs regular maintenance and support. You’ll have to update your app as technology develops.

Legal Restrictions To Follow While Building A Trading Platform

Finances are a serious issue. You have to be aware of a number of legal restrictions when you Build an App Like StockEdge. Look at these restrictions.

You must obtain a license for each country in which you plan to run your trading platform. You can get help from a lawyer to understand the process for obtaining a license in each country.

When you build a trading platform, the issue of protecting user data is a sensitive one. Data protection is regulated by many countries and regions, including the USA.

If you are operating in the USA, for example, you must comply with the Securities and Exchange Commission requirements; In Europe, it will be the General Data Protection Regulation. Also, make sure that you follow the standards of investment-regulatory institutions (for example, FINRA, SIPC, and NFA).

Everything You Need To Know About GDPR And How It Impacts Your Business

Cost to Build an App like StockEdge

Stock market app development costs are determined by many factors. These include the complexity of an app, its features, cloud-based solutions, operating system, production time, etc. These are the primary things to think about when figuring out how much it will cost to build StockEdge apps.

Fintech app creation is a challenging task. However, it must be user-friendly to increase customer engagement. Your development team will need almost six to eight months to create a trading application. Trading app development costs range from $25,000 to $50,000. 

The cost to build the StockEdge app will vary depending on the features, functionalities, and complexity of the app. However, it is better to hire a web and mobile app developer with a good reputation to get the best out of your app. Professional development companies can help you develop a successful stock-trading app, and ensure that it runs smoothly.

How Much Does It Cost To Develop A Mobile App?

Conclusion

To conclude, building an app like StockEdge requires careful consideration and planning of factors like the target audience and business model. To understand the needs of your target audience and the landscape of other similar apps, it is essential to do market research and competitor analysis. It is also important to understand the technical side of app development.

It is possible to build an app like StockEdge and launch it by following these steps and working with professionals who have experience. However, you should take help from a mobile app development company if you are not sure where to start or have an idea about your future trading application look further at dev technosys.