Whitelabel Virtual Trading Platform Development: Key Points and Useful Tips

The investing world has advanced quickly in recent years as more investment platforms have entered the online space. Mobile stock trading is not just the newest trend in e-commerce. Investors can trade using virtual trading platforms from any location.

The global online trading market will grow at a compound annual growth rate of 6.4 percent, reaching an estimated 13.3 billion US dollars in 2026. This is based on a base of roughly $10.21 billion in 2022. (Statista)

By creating convenient and accessible platforms for buying and selling stocks, the virtual trading platform development has revolutionized how people engage in stock trading. These platforms enable users to manage their investment portfolios, execute trades, and access market data and news from their devices' convenience.

Suffescom Solutions Inc. has been creating tools and services for the stock market for more than ten years. These include virtual stock trading options, which have made it possible for investors to buy and sell stocks on a real-time platform without worrying about losing actual money. The platform provides the necessary information and resources and executes various trading strategies

Highlights 

• Instant notification on market events
• You can buy fractional shares
• No limit set on trading volume
• Price targets & expert stock analysis
• Security Protocols
• Option to choose any stock for trading
• Detailed market analysis

Fintech Is Transforming The Virtual Trading Market

The virtual trading platform development is significantly impacted by easier accessibility of data analytics using FinTech services.

Due to precise calculations and forecasts made possible by financial technology, investors can make more profitable and less risky strategic investments.

FinTech has greatly streamlined investment processes because there are no forms for customers to fill out, and shares can be bought immediately.

Applications built using financial technology also update global data and inform investors, giving them quick suggestions and advice.

User Demographics Of A Virtual Trading App

When concentrating on the design, development, and promotion of virtual trading apps, there are four user types that you will aim to attract:

• Young people are deciding whether to play the stock investment game.
  
• Rookies are first-time investors with little experience but eager to begin trading careers.
• Professionals who value their time and demand a seamless experience.
• Tech-savvy persons who want all the statistics and market data in one place.

Once the demographics are complete, you must choose the kind of virtual trading market application you want to create.

Types Of Virtual Trading Applications

There are many opportunities to create the top virtual trading application to make money. Let's examine the virtual trading platforms development' most likely options.

Full-Service Trading Apps

Full-service trading apps are provided by established brokerage firms that provide a wide range of investment services. In-depth trading functionality, research resources, portfolio management tools, and access to financial advisors are typically included in these apps. They are suitable for traders who value individualized support and guidance in their trading endeavors.

Discount Brokerage Apps

Low-cost virtual trading services are a common feature of discount brokerage apps. With the help of these apps, investors can engage in self-directed trading and trade stocks, ETFs, and other securities for a reduced commission fee. To assist investors in making wise decisions, they offer essential research resources.

Robo-Advisor Apps

Robo-advisor apps use algorithms and automated systems to manage and make investments in users' portfolios. These apps typically offer a streamlined and hands-off method of investing. The app builds and manages a diversified portfolio based on the questions investors answer to determine their risk appetite and investment goals.

Social Trading Apps

Users of social trading apps can connect with other traders, share insights, and copy profitable traders' trades. Social trading apps combine social networking and trading functionality. These trading apps promote a community where new traders can pick the brains of seasoned investors.

Advanced Features For Virtual Trading Platform 

We compiled a list of essential features for a virtual trading app for web and mobile devices based on our experience. You can use them on your platform or contact us for more information.

Bank Account Integration

Users will use your platform to carry out transactions, and the engine driving this is money. You must provide a way for them to link their bank accounts to your platform. For this purpose, you can use Plaid API, a well-known tool for providing a secure connection between bank accounts and such platforms.

Efficient Home Screen

A trading app's home screen ought to feature a news bulletin. At the beginning of the day, users should be able to view all available stocks, the amount they have invested, the status of the invested stock, etc. The amount of money still available in the user's trading account to buy different commodities should be shown in a small block.

Real-Time Portfolios

No matter which app development company you speak with, they will all agree that real-time updates are the most advantageous when encouraging users to invest their time and money in your virtual trading app.

Data Analytics and Experts

This feature aids traders in tracking their outcomes for reporting or charting. Users can use it to manage taxes, invest dividends, and build portfolios. Robots, acorns, and other robo-experts can integrate with research software, banks, and CRM platforms.

Stock Scanners

Stock screening enables the delivery of desired outcomes, such as charts and quotes, based on descriptive, technical, and fundamental metrics. These issues aid traders and brokers in selecting stocks quickly.

Updated Market News

The need to keep users abreast of current events and trends is great. Additionally, contemporary investors value the company, which gives them an advantage. Give your readers up-to-date market information to keep them interested for longer.

Now that the feature sets for trading-based fintech software development services have been covered, you are prepared to move forward and begin organizing the specifics of how your virtual trading app development process will work.

Roadmap For The Virtual Trading App Development

We'll examine how to create a marketable virtual trading app for any programmer. The following phases comprise the project: the agile methodology is typically used for developing fintech applications.

A focused cross-functional team collaborates closely with application developers using these methods. An Android app development company typically comprises designers, frontend and backend developers, quality assurance engineers, skilled engineers, and a trustworthy project manager (PM).

You must know these crucial steps to create a successful virtual trading app for pc and mobile devices.

Define Project Goals

Remember that the market for stock trading apps is cutthroat, so your top priority should be to pinpoint the main problems in the industry and how to resolve them. This gives you a clear understanding of the project goals and the ability to create a trading platform by knowing exactly what the target audience wants and expects.

To define project goals, we have identified key challenges for a stock trading app development;

• Lower trading fees
• Boost the pace of order placement
• Improved UI/UX interface
• Multiple methods of payment
• Modern trading instruments

Market Research

Another necessary but time-consuming step is this one. The only way to guarantee the success of your future trading system is to carry out in-depth market research, evaluate your competitors' systems for both strengths and weaknesses and identify your target market.

The audience won't be as diverse (compared to other platforms) if you go for a commercial virtual trading platform development, but you still need to think through every aspect to be successful. 

Organize And Form A Development Team

The skills and background of the virtual trading platform development team you assemble will play a significant role in solving the fundamental question of "how to make a virtual trading platform." To create a platform for virtual trading, we have the following resources:

• UI specialists
• Android programmers
• Web developers
• iOS developers
• Database manager
• Testers
• Server management

Follow Regulatory Compliance

It cannot offer high-quality services until the FinTech app complies with regulations. For instance, in the USA, you must register your trading system with the SEC (U.S. Securities and Exchange Commission) and join FINRA (Financial Industry Regulatory Authority) and SIPC (Securities Investor Protection Corporation) before you can sell it. Last but not least, you must abide by the laws and ordinances of the state that pertain to the FinTech industry.

Product Features

Consider the features your virtual trading app will have. Dashboards and payment APIs are essential. At this point, think about any additional must-have features you'll add. They'll distinguish your company from those of your rivals.

Product Design 

A crucial part of virtual trading platform development is choosing a visually appealing design. An app's users will perceive it worse if it has an "old-timey" or awkward design. Pick a reliable UI/UX team, and collaborate on the app's design.

Testing & Deployment

Before making the app available, it must undergo extensive testing to find and fix bugs, errors, or usability problems. Conduct thorough testing on various hardware, software, and networking setups to ensure optimum performance.

Deploy the app to the appropriate stores for iOS and Android once testing is complete. To enhance the app's functionality and user experience, keep an eye on its performance after launch and gather user feedback.

How To Monetize Virtual Trading Application?

The following are some excellent ways to monetize and profit from a virtual trading app:

Membership Charges

You can charge users a membership or subscription fee to invest in the stock market. Since they will profit from the application, they will proceed. You make more money the more users there are.

Transaction Fee

Whether the user is purchasing a new stock or selling an existing one, a transaction fee is associated with each transaction. Your virtual trading app can generate income by charging a set price.

However, keep the transaction fees low to avoid giving users the impression that they are overcharged. They might be forced to switch to your rivals as a result.

Sell Financial Services

Through your mobile app, you can offer the audience several financial solutions. Mutual funds, digital gold, and insurance are a few examples of these solutions. You will receive a commission for each suggestion.

Sponsored Ads

You will display sponsored advertisements from other financial industry companies in this revenue model. In the app, you can keep a few banner spaces or video sections where you can advertise the products and services of other companies.

These will be paid advertisements in which you will charge the organizations for promoting their products on your platform. You have the option to raise your prices as the audience expands significantly.

Wrapping It Up!

Before developing a virtual trading app, you should know these important components. While these are just a few, you can discover more about the key elements in virtual trading app development.

If your goal is to grow a base of devoted users, you must offer seamless and exceptional features and functionalities. You can only achieve it by working with a development team with the necessary skills and experience to meet your goals.

At Suffescom Solutions, we encourage emerging and new business owners to follow digital trends. Contact our developers right away if you intend to embrace the technology wholeheartedly.

Key Takeaways

• The stock exchange is a very cutthroat market. Stash, Robinhood, and E-Trade are the top 3 rivals.
• You can charge a small fee for each transaction, offer a premium subscription, or earn interest on the uninvested money to monetize your platform.
• It's essential to be prepared when trading stocks to avoid penalties. To do this, you must register as a broker-dealer, join investor safeguard programs, secure your data, and put safeguards in place to protect user data.
• A full virtual trading app development cycle is expected to cost between $50,000 and $200,000.

• Virtual Trading Platform Development