There’s a research targeting the US market that speaks of stock trading culture and investment trends in the area.The first study of which says that 14.1 million of US citizens are a part of a household that invested or traded in stocks in FY 2015. Another one depicts that 52% of Americans have invested money in stocks.
These two powerful references convincingly suggest how massively and actively an average American is taking part in trading and to what extent they need to be served by the providers.
While there is a lot of scope and opportunity lying in front of the IRA investing and broking companies but the traditional approach used by them skips serving best of clients’ interest. These limitations and downsides of the services lead to lower performance, inadequate returns, and weaker risk-adjustment. Which brings you to a real market problem, that stresses on the fact that traditional practices and methods don’t guarantee the best of services and enough of returns. And this is where the need to have an app for stock trading, to induce automation and accuracy to the system strikes big.
Here are a few results from a recent study conducted by Andreas Hackethal and Michael Haliassos of Goethe University in Frankfurt that underlines the need for building a stock trading app for investors.
Starting with shortcomings imposed by advisors:
Lower performance: The users who employed professional advisors realized a 5% less profit compared to those who did not. So, if you invest $100,000 and receive 7% of returns instead of 12% over a time period of 30 years it will result in a negative difference of about $2.2 million.
Lower risk-adjustment performance: The research further discovered that the investment companies also tend to weaken the Sharpe ratios, which is the measure of performance. This is because of the lower rate of compensation offered by advisors.
Acting In Their Own Interests: A common belief is that the advisory tools used by companies are biased and act to serve their own interests and are not designed to offer you the best of options available, playing safe and in-line with company guidelines.
These points bring forth the adverse side of it which lays emphasis on building an app for monitoring stock updates so that things are more transparent and the investor is in a better position to take decisions based on holistic opinions and reliable piece of advice.
Besides, if you look into the ranging features and the possibilities that a well-researched and finely-approached app can offer, you will find all the positive reasons to develop a stock tracking app.
Apart from these features and functionalities, a stock tracker app can substantially simplify stock trading by eliminating the requirement to open a blockage account and pay fees for that. Further, with an app like this, you can take crucial decisions on buying and selling stocks powered by the integrated market analytics and reporting system. There are already a few apps in the market that offer real-time results to bring great interactivity and accessibility to you as an investor. Here, you not just see live streaming quotes or dynamically use gestures like swipe-to-trade but also get to see technical indicators and comments to help you get in-depth details about anything related to trade.
Talking of the cost that goes in to build an app like this, it is directly proportional to the features you plan to implement and the depth of design you plan to furnish it with. Here, if you want to implement real-time data integrations and updates you can easily get it done through experienced developers who have built such solutions in the past. But if you are looking to create and support multiple data streams you may require someone with distinct expertise with it.
So, while you choose your stock trading app developer, first figure out the requirements you have in terms of features and functionalities and align them with the core attributes and the resource factors of the solution. Though it largely depends on how much you stuff up or commit to the quality of the app, but if you look for an estimate of the price of building a stock trading app, it should be somewhere between $30,000 and $40,000 for one platform.
If you would like to have more information on developing a stock tracking app for investors, contact us at [email protected].
A marketing graduate, a deemed strategist, a sure geek - Tushar is a fine blender of the art and science of writing. When it comes to tune up content with commerce, he knows the trick. For him, if words don’t make you think and beat, they are not worth your time. A crazy foodie, an unfailing jogger – that’s him off the desk!
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