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How To Build a Trading App

By 2023, it’s estimated that trading apps will increase nearly three-fold to $935 billion


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Trading App

 

 

Back in 2018, global mobile app revenues peaked at over $365 billion, with those marketed through the Google Play Store becoming increasingly dominated.

By 2023, it’s estimated that this number will increase nearly three-fold to $935 billion, with core revenues being generated by paid downloads and (more relevantly) in-app advertising.

Functional apps are also becoming increasingly commonplace in the market, and playing a significant role in driving the market’s exponential growth. Tools for trading the financial market offer a relevant case in point, but what are the key considerations when building a viable trading app?

What is a Trading App?

In general terms, apps are described as online and mobile platforms that are designed to help users complete a specific task or endeavour.

While web apps are designed for use on desktop devices, mobile tools are crafted specifically for smartphones that run on either Android, iOS or Windows.

In the world of trading, apps such as the MetaTrader 4 afford investors real-time access to a host of financial markets, while ensuring that they can manage their portfolios and make informed decisions through a single, virtual interface.

In this respect, trading apps offer most value to aspiring or part-time traders, who historically wouldn’t have had access to lucrative financial markets such as the foreign exchange.

Sure, they can also be used by institutional investors and to more stable assets such as stocks, but there’s no doubt that modern apps have created a new generation of traders who invest as a way of securing a secondary income.

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Appraising the Different Trading App Types

While this covers the general definition of a trading app, it’s important to note that not every single platform is created equal.

In this respect, it’s possible to classify trading apps by dividing them into two primary groups, and we’ve described these in greater detail below.

1. Traditional-oriented Types

With this type of app, you’ll be afforded access to a raft of traditional time-tested markets, while also targeting familiar assets such as currency, stocks, commodities and ETFs.

Arguably, forex is most commonly traded through online and mobile apps, as this market boasts incredibly high levels of liquidity (and leverage) and sees up to $6.6 trillion invested globally every single day.

The aforementioned MT4 app fits into this category, as this platform is dominated by analytical tools and technical indicators that lend themselves to forex trading.

However, you can also build a broad and traditional investment portfolio through this type of app, enabling you to pursue balanced and sustainable returns over time.

2. Cryptocurrency Apps

Over the course of the last decade, cryptocurrencies have also become popular amongst investors, with the market leading token Bitcoin boasting an incredible market capitalisation of $117.8 billion.

As a result of this, we’ve seen the development of trading apps that are focused solely on cryptocurrency, and a growing range of tokens such as Ethereum, Litecoin and Ripple (in addition to Bitcoin).

These apps also offer you access to two variable types of exchange. More specifically, you can choose to trade assets through a centralised platform that requires the participation of brokers, or access a p2p model that affords you direct access to the marketplace.

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Just remember that you need to have knowledge or understanding of cryptocurrencies if you’re to successfully use the latter, as while brokers may charge commission fees, they can help to inform your trading decisions over time.

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