How to Build a Trading App Like Ticker Tocker?
How to Build a Trading App Like Ticker Tocker?
Ticker Tocker is a rapidly developing social trading marketplace named as 2019's Best New Financial and Market Data Information Solution according to American Business Awards and International Business Awards. Moreover, the platform also won a Gold Stevie Award for the best user interface design in 2020. From this article, you will learn how to create your trading app like Ticker Tocker and monetize it.
The platform makes money in the following ways:
User interface. Most trading apps are oversaturated with functionality and often are confusing, so make sure that the interface of your app will be as simple and easy to use as possible. This is a mandatory requirement since Ticker Tocker, Robinhood, Stash, ETrade, Acorns and other market leaders meet this requirement. Interfaces of their apps are understandable at first glance, thanks to which they can be used even by people, who haven’t made a single trade deal on Forex, the stock market, or the cryptocurrency market.
Here are a few tips that can help you when you’ll be creating an intuitive user interface of such an app as Ticker Tocker:
For example, the Betterment app allows you to sync user profiles with external investment accounts and contact your personal manager from the support service right through the app. The M1 Finance service has a smart pie chart, which provides the user with an insight into their investment activity. Robinhood allows checking the market news through the app and Ally Invest and Coinbase provide instant access to a wallet with the possibility to deposit and withdraw funds from an account almost instantly.
Investment robo-advisors is a hot trend in this market. They are perfect for those who need professional help at a reasonable price and who want to hand over the management of their accounts to a third party without fear of possible fraud. The best providers of automated robo-advisors are Betterment, Wealthfront, and Vanguard.
The first solution makes it possible for investors to open accounts with a zero balance, whereas two other services require $5 thous. USD and $50 thous. USD on the accounts respectively. That being said, Wealthfront and Betterment are meant for opening general accounts and taxed accounts, while Vanguard can be used to choose a portfolio and contact a financial advisor.
There are more specific investment advisors. For instance, Ellevest specifically focuses on women, who seek to achieve financial independence or save money for certain purposes. Personal Capital allows creating individual investment portfolios аnd Blooom offers management of 401 (k) retirement plans.
You simply choose attributes from a menu on the left side of the screen, drag them into the timeline editor and nest if/then and other conditional statements. Once you have created a new strategy, you can backtest it to see how it would have performed historically. The backtest results are highly detailed, showing not only the overall performance of your strategy but also giving information about which holdings in your portfolio performed best and worst under the strategy.
When creating your trading app like Ticker Tocker, think of the following measures of protection of money and confidential data:
The system in Ticker Tocker notifies of leaders’ activity apart from notifications about changes in the account and provision of information about rates and adjustable prices in real-time. Through notifications, the Vault app requests the users’ permission to transfer a certain percentage of funds to Individual Retirement Accounts (IRA). TD Ameritrade Mobile sends push notifications when the bets reach a certain price.
24-hour help. Determine how the users will be able to contact a personal advisor and/or support service and what they will be like beforehand. Ticker Tocker and Robinhood have convenient help centers, where you can find answers to any questions. Betterment and Acorns are available by phone and email and Coinbase is betting on a supporting bot, which helps in everything — starting with registration and ending with the portfolio creation.
Additional features. Extended functionality improves the user experience and can single your project out among the competitors. Here are more features that you can add to your investment app:
#1. Step 1. Project idea and evaluation
#2. Step 2. The business model of your app
#3. Step 3. Searching and hiring the development company
#4. Step 4. Main features of a Ticker Tocker clone
#5. Step 5. Coding and testing
#6. Step 6. Post-release support
#7. The cost of a Ticker Tocker clone