Undoubtedly, with the rise in digitalization, the stock market is also using the latest technology that can revolutionize financial markets in many ways. For the past few years, using mobile applications or web apps to view stock markets has been a regular practice by investors and brokers. That’s one of the significant reasons why apps like Robinhood, eToro, Stash, Freetrade, and many more have increased in demand in recent years.
As per Statista, the number of Robinhood app users increased from half a million in 2014 to 22.9 million in June 2022. While keeping this number in mind, let’s not forget that not all stock trading apps are made similar; this creates a massive opportunity for fintech app development services to boom exponentially. According to Statista, the global online trading market is forecasted to reach $12.16 billion by 2028. This means that individuals will be more hooked to the apps for investing and trading money in the future.
So, creating a stock trading app should be your go-to option if you are looking for an innovative and unique business idea in the fintech domain.
Reasons to Develop Stock Trading Apps
With fintech startups booming everywhere, it has become more challenging for business owners to make a mark in this industry. So if you are willing to start your journey in the fintech world, stock trading apps can be an ideal platform. So, without further ado, let’s get to know the reasons.
Investors are Soaring up
One of the primary reasons you want to develop a stock trading application is the growing number of investors and traders in the market. These apps make it easier for individuals to access stock market information, allowing them to buy and sell stocks from their mobile phones, irrespective of time, demographics, and location.
As per SurveyMonkey market research, approximately 48% of adults invest in stocks, mutual funds, and cryptocurrencies, but differences emerge in generations.
Advice on Better stocks to Invest in
A huge thanks to fintech app development services, that fintech world is now at our fingertips. As a new investor, it can be hard to determine which companies’ stocks can go up and are worth investing in. However, with the help of stock trading apps, analyzing and researching have become much more accessible.
The reason is, they help provide real-time updates on stock prices, and provide visual analysis like charts and graphs to help understand the market. Various apps like Sofi Invest and Robinhood also offer recommendations and suggestions based on the user’s goals and risk tolerance. Moreover, various apps also have built-in discussion forums where users can share their opinions and take advice from others.
Help in Managing User portfolios
Users face a common problem while managing their portfolios, as it requires a lot of time and effort. Undoubtedly, keeping a record of gains and losses is not easy as your trading decisions are almost based on the same. This is where stock trading apps play a significant role. They can help you stay at the top by providing real-time updates on investment performance.
For example, Yahoo Finance, a stock trading application, offers users to manage their portfolios and make informed decisions effortlessly. This creates a huge potential for stock trading app development.
Offers Security to Users’ Financial Information
When it comes to making investment decisions, security can be a major concern for novice investors and beginners. While taking advice, people often end up sharing a lot of financial data. Fortunately, stock trading apps can eliminate this concern by offering safe and secure approaches to safeguarding users’ data.
One such approach is using two-factor authentication, which requires both a password and a code sent by text message to log in to your account. Moreover, to protect sensitive financial data, these applications use encryption technology. This gives users peace of mind when managing their investments.
Help Mitigate Risk factors
The bull market depends on the tips and advice provided by market experts. However, there may be times when this information may not be enough, and people might end up making wrong decisions that may further lead to heavy losses. While some of the risks may be mitigated by following the tips and recommendations, there may be chances that the stock market may not behave rationally.
This is why users are now more indulged in using mobile apps, as they offer transparency and help them make informed decisions about their financial assets. Therefore, it creates a huge opportunity to stay abreast in the market by going for stock trading app development.
Provide Easy Access to Real-time data
As we all are aware of the fact that the stock market is dynamic in nature. This means that share prices may fluctuate anytime, which makes it much more critical for users to have real-time data alerts. It can help us know the actual condition of the stock market.
Thus stock trading applications offer users the same functionality so that they are always in touch with market updates and make wise decisions while buying and selling stocks.
Wrapping up
The stock market will be digitized in the coming future. Not only adults but young millennials, too, are much more interested in investing money to reap good benefits. So, if you are an entrepreneur and looking to make it big in the finance industry, now is the perfect time to develop stock trading apps.
Richard Parker is an active content writer, reviewer and lifelong student of data analytics. He is enthusiastic about the real world application of analytics to improve business operations.
