In 2020, the world experienced a great hit from the Covid-19 pandemic. During this time, the financial crises rose, throwing many businesses off balance. Through that experience, many people started relying on online services to keep their businesses and lifestyles going.
After losing investments in the banking bubble burst, many people turned to shares as a safety net. And since most services were operating online, the need for stocks apps began to rise. Many people relied on these platforms for all their investment services. This article explains the importance of these platforms. Read on to find out more.
What is a stocks app?
Most businesses benefit from using online platforms to sell their products or services. Therefore, having a platform to streamline their online dealings is better. A stocks app is a platform created with the sole purpose of selling or buying shares remotely. You download the platform on your phone, register the relevant details, and start using it. This enables you to trade shares efficiently and smoothly as it gives you complete access to whatever happens on it.
How Stock Apps Work
To use the stocks app, you need to download it on your smartphone or PC. It is a user-friendly platform that enables investors to buy and sell their shares conveniently. Different users get to enjoy the convenience the platforms offer as they get to do both long and short-term investment options. The platforms also enable the users to monitor the market in real-time on their smart devices.
Brokers are responsible for securing exchanges on the platform, hence making money from the trades. There are two types of trading: cryptocurrency trading (Bitcoin, Ether, Ripple, etc.) and old-fashioned trading (buying company shares).
To run successful stocks apps, one needs to obtain relevant registration in all the countries you plan to be represented. It is because financial matters require stringent safety measures. Once you do that, investors will be more comfortable using the platform.
Trading is a highly competitive venture where you will find many market players. Therefore, to build and run a successful stocks app, you need to be aware of all your competitors. You should learn their ways and what makes them flourish in this market. Doing so allows you to implement effective ways for a successful platform.
The success of a platform is determined by the number of people who download and transact in it. For this reason, the platform should be outstanding with various intuitive features to enable user-friendliness.
How a Stock App Makes Money
Making money from a mobile platform is not new. However, many people don’t understand how a stocks app makes money. First and foremost, you need to understand your business model as you go to maximize your chances of getting money.
A platform for trading can make money in various ways. The first one is from interest. The platform can collect interest earned from funds that have not been invested. This only happens in a few platforms.
The second way a platform can make money is through premium subscriptions. Some platforms offer their users access to premium accounts for additional margins, shares, or trading hours.
Thirdly, a platform can charge a certain percentage for every transaction. This is the most convenient way for a platform to make money because investors don’t feel extorted. As they make money, the platform also benefits.
Features of a Stock App
A stocks app should include the following;
- A registration form to sign-up and sign in or log in,
- Onboarding to ensure the users know how the platform functions,
- A personal profile that includes relevant user information
- Dashboard for user’s portfolio, existing balance, and share options
- Trading functionality which shows real-time market graphs, business profiles, and a growth overview
- Payment options
- Analytic reports