A Top-Rated StockTrading Platform

Trading used to be very manual and difficult. Many markets are becoming more efficient thanks to technological advancements. People trust apps without hesitation. This is why we brought you the largest social investing community in the world. It makes investing easier and more enjoyable.

It allows users to easily manage their virtual portfolios in a specific context and makes the market more accessible. This week, our 'App Of The Week' eToro is the easiest-to-use trading platform, eToro.

Scroll down for more information about the stock trading app development and its ease-of-use to end-users. Also, find out how to make a stock trading app similar to eToro app.

How Does This Public Trading App Work?

To start using eToro, users first need to create an account and verify their identity. Once the account is set up, users can fund it with a variety of payment methods, including credit card, bank transfer, and e-wallets app like paypal.

One of the key features of eToro is the ability to copy other traders' trades. Users can browse a list of popular traders on the platform and see their historical performance, risk level, and other metrics.

They can then choose to copy one or more of these traders, allocating a portion of their funds to automatically mirror the trades made by the copied traders.

To assist traders in making wise judgements, eToro also provides a variety of tools and information. These include real-time market data and news, technical analysis tools, and social sentiment indicators that show how other traders on the platform are feeling about a particular asset. In addition to copying other traders, eToro users can also trade on their own.

The platform supports a range of assets. Users can open long or short positions on these assets, meaning they can profit from both rising and falling prices. Another aspect of eToro is the option to apply leverage, which enables users to build greater positions than they could with their existing cash.

However, it's vital that leverage also increases the risk of losses, so it should be used with caution. Finally, eToro provides users with a variety of instructional tools to aid in their learning about trading and investing.

These include webinars, eCourses, and a social trading blog that covers a wide range of topics related to trading and investing.

Cost to build public trading app like eToro

There are various factors that affect the stock trading app development cost of eToro app. Additionally, some technological modernization also affects the overall cost. So, if you are interested in knowing the cost of eToro, then you must first have a glance at the below crucial factors that influence the cost of the app.

Tech Stack
Application complexity
Location of the development team
Platform type
Features and functionalities
UI/UX design
Types of business model
App maintenance and updates

Based on the above factors, the estimated cost for a simple online trading platform like eToro will be anywhere between $25000-$38000. However, if you want a more complex app with some advanced attributes in it, the cost will increase to $50000. It can even go beyond the given cost.

Identify your target audience

Before you start developing your app, you need to identify who your target audience is. eToro primarily targets retail investors who want to invest in the stock market or cryptocurrencies, but it also attracts traders and professional investors. Think about who your app will appeal to and what features they would need.

Plan your features

Once you have identified your target audience, you can start planning the features of your app. Some of the features you may want to include in your app include a trading platform, social trading, educational resources, real-time market data, and portfolio tracking.

Choose your technology stack

The technology stack you choose will depend on the features you want to include in your app. For example, if you want to include real-time market data, you'll need to use an API that provides that data. You may also want to use a cloud-based platform to ensure scalability and reliability.

Develop a user-friendly interface

One of the major steps that will determine the app success is the user interface. Your app should be easy to use and navigate, with intuitive controls and clear visual cues. Make sure you test your app with real customers to make sure that it is intuitive and user-friendly.

Integrate social trading features

eToro's social trading feature is one of the reasons why it has become so popular. By allowing users to copy the trades of successful traders, eToro has made it easier for inexperienced investors to invest in the stock market. Hire dedicated developers who can integrate similar social trading features into your app.

Monetization Strategy

In this step, it is crucial to finalize the monetization strategies for your apps like amazon to understand and have an understanding of the revenue model that will work with business models. There are three revenue models of eCommerce app development: subscription, freemium and in-app advertisement. You can choose these models depending on your business requirements and create the perfect shopping app for your E-Commerce business.

Ensure security and compliance

Trading and investing platforms are subject to strict regulations, and you will need to ensure that your app complies with these regulations. Also, you will require to assure that your app is secure and that user data is protected.

Test and launch your app

Once you have developed your app, you will need to test it fully to make sure that it performs as intended. You may also want to conduct beta testing with a group of real users to gather feedback. You may publish your app to app stores if you're done with it.

Monitor and improve

The work doesn't stop once your app is launched. You will need to monitor user feedback and app performance and make improvements as needed. Regular updates and bug fixes will be necessary to ensure that your app remains competitive in a crowded market.