How to Develop a Fantasy Stock Trading App like Wealthbase?
Nowadays, mobile investment apps come with a slew of advantages. It’s quick, simple, and cost-effective for everyone. In some circumstances, there are no commissions or fees at all.
As investing becomes more trending, investment applications like Wealthbase routinely lead the Apple App Store charts. With the advent of a user-friendly interface, sophisticated stock market games, and investing volatility will become a cool thing for beginners to comprehend. Users can configure a stock game on Wealthbase for days, weeks, or just till the end of the year to learn about the stock market.
The market for Investment apps is expanding every year as more people grow open to trading. As per Statista, this industry is popular among Americans of all ages. In 2021, downloads of well-known applications such as wealthbase and others increased by 120 percent.
It’s probably time for you to create your stock and cryptocurrency trading app. The investing industry has numerous potential to develop user-friendly features and implement novel solutions.
Are you ready to create a stock and cryptocurrency trading app? But you’re not sure where to begin? Don’t worry; this blog will assist you.
- From $8.7 billion in 2021 to $12.16 billion in 2028, the worldwide trade market is expected to grow at a CAGR of 5.1 percent.
- To understand about the stock market, users can set up a stock game on Wealthbase for days, weeks, or just until the end of the year.
- FinTech startup investment value increased from $9 billion in 2010 to $121.5 billion in 2020.
- SSL certificates with 256-bit and 2048-bit encryption are the most used encryption standards for investment apps. SIPC protects money, stocks, and bonds in several investment apps. Two-factor authentication, PIN codes, and biometrics like fingerprint authentication are more approaches to improve in-app security.
- Filters, scanner, push notifications, analytics, and many more are the must-have features for custom investment app. Read our blog to learn more.
What is an Investment App?
Due to its simplicity and comfort of use, investment apps help to lower investment hurdles. Users of investment platforms and applications like how convenient they are to use and how quickly they can indeed get all the information they need. Everything is at your disposal using your mobile phone.
Google searches for online investing have increased by 115 percent every year.
The global trading market is predicted to increase at a CAGR of 5.1 percent, from $8.7 billion in 2021 to $12.16 billion in 2028.
Today, there are many investment apps in the market, but one of the most competent ones is Wealthbase.
Let’s move forward and talk about,
Wealthbase: Quick Overview!
Wealthbase is a platform that combines social media and investing. It offers a social element that no one else can match. On the app, users can play games with their friends to see the greatest. Also, there is a feed that displays each of your friend’s most recent stock selections.
Aside from that, Wealthbase users can launch a simulated trading game and invite their friends to compete. Players establish their mix of investments, ETFs, or cryptos with $100,000 in virtual cash. Keep track of your investments, compare your results, and discuss your thoughts with your friends. You’ll be able to see what stocks your competitors are picking in real-time. End-of-day updates keep track of your progress, and you may remain ahead of the competition using charts and a news feed. Simply put, Wealthbase makes stock selection enjoyable.
Lastly, wealthbase is a social, educational, competitive, and entertaining platform.
Moving forward, let’s check,
Must-have features to consider during investment app development!
Features are the most important element that you can’t miss. You need to be very clear about the features and functionalities of your custom investment app like Wealthbase. Below, we’ve listed a few of the features you can include in your app. So, have a look!
These apps are designed to assist users in making informed investing decisions and achieving their financial objectives. To anticipate future market trends, highly complex Robo-advisors use AI, a news feed, big data analysis, and algorithms, whereas less technologically advanced ones rely on financial analyst projections.
Push notifications are advantageous to both you and your users since they allow you to keep in touch with them. You may update users about promotional discounts, news, and promotions through push notifications and alerts. You can, for example, send alerts on new currency listings, price changes, trend changes, exchange listings, and much more.
This feature allows authenticated app traders to study stocks using the sorting and filtering options, which efficiently filter necessary details based on the user’s input. This allows customers to traverse the stock market in an easy-to-understand manner.
Provide a straightforward and interactive onboarding experience for your users. Also, keep in mind that verification is a crucial aspect of crypto and stock trading apps in order to lower the chances of fraud and ensure transaction transparency. You must add two-factor identification and anti-bot verification into your app to ensure comprehensive data security for your consumers.
This tool provides you with data that has been thoroughly examined to assist you in making financial decisions. It displays previous asset performance statistics and assists users in tracking their investment returns.
Create a Profile
Profile creation is a collection of settings that allow customers to customize their platform experience. It also stores the data of the account owners; therefore, the system will facilitate user authentication.
Referral and Bonus
A good stock trading app development business allows users to incorporate a loyalty scheme into the app, which keeps customers on your platform longer. Various types of programs promote traffic through increasing earnings, increasing sales, attracting new customers, retaining existing customers, and driving profits.
The complete positions screen provides traders with the most up-to-date information about their trading activities and allows them to keep track of their portfolio anywhere in the world with Internet access. The screen displays a list of positions sorted by current account, along with brief descriptions of each position. Make rapid trades, sort positions, or tap a position to discover additional information about it. The quantity of positions is also shown in the quote information.
Even while away on business or a desktop computer, traders need to keep informed and in command of their trading accounts. The key to effective investing is knowledge. With Live Account Balances and a variety of options, you can keep track of your portfolio on the road. At any time and from anywhere, you can access and manage your account data.
To allow the exchange owners and operators to control various operational aspects of bitcoin exchange, an admin console is required. The admin interface’s features can be tailored to your crypto app’s individual needs. Still, every admin console should include options for adding new currencies, adjusting trading fees, maintaining cryptocurrency listings, crediting/debiting cash, and resolving support issues.
You can choose between a live or paper trading environment. Paper Trading is a realistic simulation trading environment that can be used to educate new investors or test trading methods with no risk. This functionality can be used as a robust demo tool to give new traders an introduction to a trading system.
Overwhelmed with the features listed above? Contact us to know what other features you can add to your custom stock and crypto trading app like wealthbase!
How to develop an investment app like wealthbase?
If you want to build an effective investment app like wealthbase, then you need to consider the below-mentioned points:
1. Conduct a research
The initial step you must take is market research and strategy. Automated market research can be done by looking at the most popular apps on the major app stores. The next stage is to establish a plan after you’ve done your study to figure out where you rank what it is that makes you unique. This is where all of the minor inquiries are directed.
Ask the following questions: What are your pricing plans? Who do you want to reach out to? What is the most reasonable pricing for your target market? Will you add new features on a regular basis in order to attract more users?
This will offer you a great start in your immediate region, allowing you to expand exponentially rather than extending your resources.
2. Design wireframes
Digital sketches of apps or websites/pages are known as wireframes. Wireframes are a set of outlines for buttons, pages, functionalities, and other architectural features that can help you see how your app’s features will work together and affect the user experience. They can be imported into other design elements to aid in the creation of user interfaces and skins. Wireframes provide a functional purpose in that they help you to envision how people will interact with your application and how it will perform mechanically. They describe what happens when a user presses a button in your application.
3. Hire the best mobile app development company
The diversity of your dev team and its tech stacks will have a big impact on the quality of your product.
Here’s the team of developers you’ll need to make a product that’s in high demand:
- Project manager
- iOS developers
- Android developers
- Frontend developers
- Backend developers
- QA analyst
- Business analyst
- UI/UX developers
4. Choose the platform
The platform you select will have an impact on the cost of developing the app. It’s best to pick a platform as soon as possible.
For which platform are you developing the application? Is it an iOS or Android app?
Exactly what sort of devices is it for if it’s mobile? All of these questions will assist you in deciding which platform to use. Then you can inform your app development team of your platform choice.
5. Decide your MVP
Your application will be in the form of a Minimum Viable Product when it is first released to the public. This MVP is just used for testing. It’s the most basic, simple version of the application, with none of the bells and conveniences you’ll add later.
You should have indeed a rough idea of what your MVP will look like so you can separate the critical functionalities from the extras. When there’s ambiguity about how an end-user will react to your application, a minimum viable product eliminates not only cost but also a lot of difficulties. The key points and voids could be used to create a final product. With limited resources, the early version relies on frequent feedback for improvement, which is a win-win situation for everyone involved with the app. After reviewing the performance and reports of your MVP product, add functionality to mobile apps without thinking too much about the cost.
Moving forward, let’s check the,
Cost to develop an app like wealthbase!
The cost of developing an app like wealthbase depends on some aspects like: The level of apps complexity Features and functionalities Region of a hired mobile app development company Platform, and many more
But, if you want an exact quotation of investment app development, then experts at MATELLIO can help you! Contact us today to evaluate your project!
Over time, the investment app development market has continued to expand. If you want to create and launch an app like Wealthbase, you’ll need to prepare ahead. If you want, you can take the help of a top investment app development company. And, if you are seeking one such company, contact us.
MATELLIO takes care of all stages for you, from market research to UX/UI design to app development, Q/A testing, and launch. Contact us, and let’s convert an idea into an actualized product.