How To Develop Trading Software

In short, the plan is as follows:

Step 1: Project idea and evaluation
Step 2: Business model for your app
Step 3. Search and hire a trading software development company
Step 4. Basic features of your app
Step 5. Coding and testing
Step 6. Post-release support

Step 1: Project idea and evaluation

At this stage, you decide on a concept for your project together with your team and preferably also with a business analyst. The better you develop your concept, the easier it will be for developers to implement it in code and the better result you will end up with.

This is what you should think about:

• Which target audience to target

• On which platforms the service will run

• What assets will be available for trading

• Exactly how you will be able to trade on your platform

• What kind of trading platform you will be using

• What functions do you need to implement?

Step 2: Business model for your app

For example, your platform is a free service for trading currencies, stocks, and other assets. The platform is not an exchange, but only an intermediary between a trader and a broker. The main value proposition of your application is access to the leaders - expert traders who share trading strategies and expert information with other investors through a subscription. The subscription includes the function of copying the leader's trades.

Every leader has a personalized page often with an introductory video, a list of their recent confirmed trades, and a performance history. This allows potential subscribers to evaluate a leader's performance by simply comparing their trading history and the profits they have made.

Step 3. Search and hire a development company

The next step in launching such a trading application is to find a technical partner. Because only custom development can provide the quality of design, functionality, scalability, and security that such FinTech projects require. Where to look and what to look for when searching for a trading software development company, will be my next idea for this article. Stay tuned :)

Step 4. Basic features of your app

Mobile investing and trading solutions stand out from other applications. In addition to traditional things like registration and authorisation, user profiles, notifications, text chat, etc., you need to implement features in your app that are responsible for trading and increased security.

UI interface. Most trading apps are oversaturated with functionality and often confusing, so make sure your app's interface is as clear and easy to use as possible. 

Here are some tips to help you create a clear user interface for such an app:

1. Make sure that the app's interface addresses your target audience's objectives and reflects their user flows and paths;
2. Work on the design and animation of the icons, as they are the calling card of any trading and investing app;
3. Choose a style and color scheme that suits your niche and your target audience at the same time;
4. Focus on simplicity, not creativity;
5. Remember, the design should be adaptive;
6. Use focus groups and surveys.

Step 5: Coding and testing

This step will involve coding (server-side - backend and user interface - frontend). Programmers will be guided by the specifications of your project, worked out in the previous stages, and step by step implement all the functions of the application, perform integrations, connect the necessary services, etc. QA specialists will then test to make sure that everything works, all services are compatible and there are no bugs in the code. Once the project has passed all the checks and patches, it is ready for release.

Step 6: Post-Release Support

After your product is deployed, you need to collect feedback from your users and your company's employees so that you can then use the data to improve usability and functionality. Also, don't forget to improve the performance of both the app itself and the backend.