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The stock exchange market has been around for a pretty long time already. So it’s only reasonable that mobile stock tracker apps certainly became a profitable tool for both startups and huge brands in the FinTech industry. According to the App Store and Google Play usage reports, these apps are highly popular among traders and financial specialists who are in need of deep analysis and up-to-date statistics.
The rising era of Blockchain Technology and FinTech made the stock market one of the most attractive niches for investors of all kinds. Traders are eagerly investing all of their money in cryptocurrencies, gold, bonds, shares and stocks, mutual funds, etc. And most of them prefer to use various apps for investors and traders. Therefore, I decided to discover fundamental problems of stock exchanges and key features of stock tracker app development.
Stock Exchange Crisis
From the beginning of February, the Dow Jones Industrial Average had already plunged twice more than 1,000 points and then sank into the correction. For those who don’t know what the Dow is — it tracks stocks of the Nasdaq and New York Stock Exchange. So, back to the business, the stock market is now in a bit of a crisis — 10% off its record high a couple of weeks ago.
It happened because of the fears that investors had about the inflation, bond market and interest rates. This situation drove the Dow, Nasdaq and S&P 500 into the red zone for the year. In the end, the Dow stopped at 1,033 points of decline — which is the second-worst drop in history, after previous 1,175-point nosedive. Of course, 4.2% point drop is not as bad as the darkest days of the 2008 financial crisis. But the Dow is still moving towards its worst weekly drop since that crisis. Not that it’s the end of the world, but it’s pretty shaky and unnerving.
The investors also are worried about the possibility that the Federal Reserve could raise interest rates faster than it would be expected to fight it. Since the ten-year treasury yields hit a four-year high of 2.88%, the bond market is considered a clear indicator of fears regarding the inflation. It totally got the stock market’s attention during the past year and many experts think that the bond market can tell us if there is more inflation ahead than it’s expected to be.
Overall trading had seen ups and downs for the past couple of weeks — the market has been fluctuating in the range of approximately 2,300 points in both directions. As a proof, the VIX index already almost reached its highest level since August 2015, and we’ll continue to see these volatile days. It’s still a big shift from 2017 when the stock market wasn’t tumbling for a long time — now, stocks are overheated.
Since Trump’s election, the stock market saw the lift of the Dow up to more than 8,000 points (of course, in the first months of 2018 it has dropped about a quarter of that number). However, the United States economy is solid, if we’re to believe the government’s report. That’s why trading bonds and stocks are so attractive for startups and investors around the globe.
Stock Tracker Apps as the First-aid Kit for Any Financial Specialist
In this modern age, the Web offers you a variety of the most effective analytical and advisory tools. But only a few of them can really be reliable and meet your expectations when it comes to mobile products. I’m talking about the most favorable stock tracker apps out there, like Robinhood (free stock trading app) or Real-time Stocks Tracker.
Here is where we should discuss the major problems of investors and stockbrokers and how your brand new stock tracker mobile app can solve them. The key problems for the modern stock market are clear and outlined when you ask yourself why investors drop the human advisor in a favor of digital software. I’ve prepared a list of such answers for you.
So, if you plan to invest in a stock tracking app development you should concentrate on the following key issues to build the best tool that will be loved by both investors and traders:
- Digital stock software should exclude the human factor and lower the risks of wrong advice and the money loss.
- Stock tracker app must protect user’s personal info and provide up-to-date information about the market.
- Unlike humans, apps have to act in their users’ interests and advise them to take respective actions.
- Stock tracker builds for a user an appropriate risk-adjustment strategy and pings all financial advisors.
What Should You Track in the Crisis Time on a Stock Market?
When we analyzed the most popular stock tracker apps for investors and the Google Trends, we found out the following:
- 3% of Google Play users search for the Android investors’ applications.
- 47% of App Store users look for the iOS stock tracking apps.
Which shows that you may heavily consider developing a product like Real-time Stocks Tracker for Apple users (iOS platform), because of the higher users’ interest in this category.
As for the key features you’ll need to implement in your new application, we made a quick draft of particularly important ones.
Must-have Features for a Stock Tracker App?
- Simple and easy-to-navigate UI/UX design
- Nice and helpful widget
- Stocks tracking in real time
- A variety of stock options overviewed
- The interface must allow users to check different stocks at the same time
- In-depth market analysis and global currencies overview
- Stock scan
- Real-time alerts and push notifications about any changes
- Exporting option for portfolios
- Stock market forecasts, analytics, etc.
Keep in mind that it’s just a bunch of major features to implement in the first place, but you can use your creativity and build something more advanced and unique. In order to impress users with an extraordinary product, you’d have to do a profound market analysis of the stock trading niche. This will help you to identify the key aspects that your target audience is concerned about.
When it comes to financial apps development, various specialists recommend asking for the help of professional Blockchain and the stock tracker app developers. The price of making such applications always depends on the overall complexity of a project and the number of features you desire to implement. It includes front-end and back-end development, UI design and UX prototyping, and QA and security measures.
If you look for local developers, the cost of your app would start from $45,000. Outsource offshoring development companies usually charge less — from around $35,000. So it’s up to you and your budget’s size. To find out more about such development model, check out this article about the perks of Blockchain technology and the New Economy.