How To Build A Trading App Like Zerodha or Upstox

How to Build a Trading App Like Zerodha or Upstox

Global financial crisis has been experienced by the millennial generation, and this year will bring new challenges. An adequate safety net has become a top priority after their parents and grandparents lost all of their savings in a bank bubble burst. There are many reasons why so many young people rely on stocks. They prefer to do it online through an app because they were born with a smartphone in their hands.

To combat the pandemic, millennials began micro-investing in stocks. The number of users at Wealthsimple increased by 54 percent in March, with the majority of them being 34 and under, while Robinhood reported the highest number of deposits in the first three months of 2021, with daily trades rocketing up by 300 percent compared to 2019.

In the world of mobile app development, stocks are a hot topic, and now is the perfect time to get in on it. With the emergence of all such trading apps such as Zerodha or Upstox — people have become even more intrigued into the whole investing scenario.

So if you are looking for a guide on how to build trading apps like Zerodha or Upstox, you’ve come to the right spot. But before we discuss that, let’s go through the basics once.

What Is FinTech? 

According to a broader definition of the term fintech, it refers to a wide range of financial services industry-changing products, technologies, and business models Despite the fact that this term has become ubiquitous, it is not a buzzword. Because traditional financial markets have been disrupted, businesses have been encouraged to develop trading platforms.

The field of financial technology isn’t just another futuristic fantasy. Real-world examples include cashless payments, crowdfunding platforms, robo-advisors, and virtual currencies. As a result of technological advances such as these, the FinTech sector is currently being transformed.

What Are Trading Applications? 

Just like other mobile apps, trading applications aim to improve the user’s efficiency and effectiveness whenever they complete a task in their private and public lives. Trading apps are designed to assist users who are looking for reliable trading solutions.

Their investment strategy and budget must be encouraged by the product they are looking for. Fintech, on the other hand, is here to help you bring brand-new trading experiences and capabilities to smartphone owners through fintech.

Commissions and other trading fees can add up to a lot of money for regular traders. Despite this, no one wants to pay for it in advance. A free stock trading app that generates healthy returns is what people want instead. Because of this, investment applications created for end users should help reduce or eliminate additional costs.

Business models based on fintech technology are designed to benefit people, as well as consumer finance companies. Trading platforms are also mobile, allowing traders to keep tabs on the stock market at all times.

How Do Investing & Stock Trading Apps Work?

Principles of fintech revolve around money management, such as storing, borrowing, lending and investing as well as spending and protecting money. Technology is designed to help people manage their financial operations more efficiently through the use of technology. As a result, the form in which fintech will appear on your device is entirely determined by the industry segment to which the application belongs, rather than the application itself.

The major segments are:

  • Financing & Crowdfunding
  • Wealth & Asset Management
  • Capital Markets
  • Insurance Services
  • Payments

Obviously, there are many more sub-segments that we haven’t included in this list. Realistically speaking, these apps should be aimed at improving and automating the delivery of financial services in the segment of financing and crowdfunding. 

It is true that investing and stock trading apps are a complete tool for gaining access to the market. As a result, a user can monitor changes in market activity, get real-time stock quotes, and more!

It’s been reported by Investopedia and Forbes that free stock trading apps for Millennials are being developed and run to get them started in the stock market. Well, assumptions such as these are perfectly reasonable.

  • First and foremost, they are more likely to be aware of new technologies than previous generations. Because the Baby Boomers and the Generation Xers are less interested in learning about new opportunities in the IT world, Millennials have a dominant position on the market.
  • In the second place, fintech simply does not address the concerns of Millennials and Baby Boomers in any meaningful manner. Mobile devices have become an integral part of everyday life for millennials. Or, to put it another way, when it comes to managing their lives, fintech users prefer to use digital platforms.
  • But on the other hand, by developing stock trading apps, companies are bringing attention to finance among young people. Investment and trading fees are charged by traditional brokerages, but new applications allow customers to make trades and investments without being charged for each transaction. Later in this article, we’ll talk about how exactly stock market apps are monetized.

Famous Investing & Stock Trading Apps

  • Zerodha

Zerodha is India’s No. 1 stockbroker, according to the company. Equity, currency, commodities, IPOs, and direct mutual funds can be purchased for a flat fee using this broker’s online flat fee discount brokerage services.

For equity delivery trades and direct mutual funds, Zerodha charges no brokerage. Each trade costs a flat fee of Rs 20 or 0.03 percent (whichever is lower) for intraday and F&O. Zerodha charges a maximum of Rs 20 for an order (of any size, amount, or segment).

  • Upstox

Trading opportunities at unbeatable prices are provided by Upstox, an Indian low-cost brokerage firm founded on technology. As a result of its Upstox Pro Web and Upstox Pro Mobile trading platforms, the company offers trading in different segments such as stocks and commodities as well as futures and options trading.

Kalaari Capital, Ratan Tata, and GVK Davix are among the investors in Upstox.

In addition to trading and charting, the Upstox trading platform also offers a wide range of additional trading features. Through this platform, mobile phones and web browsers can place orders easily. Order Management System (OMS) and Relational Management System (RMS) are both parts of Omnesys NEST, which powers the Upstox trading platform (Risk Management System).

You can create your own trading app like Zerodha or Upstox with some help from GoodTroopers. We can connect you to world-class trading app development companies from across the globe that perfectly meets your requirements and needs.

Find Vetted Teams For Your Project With GoodTroopers

How Do Investing & Stock Trading Apps Make Money?

Execution comes after the monetization strategy. 

The first step in building a stock trading app is determining how you will make money from it. For example, there are many options for revenue monetization, and we’ll review some of the most popular and effective ones in this article:

  • Interest

The American app, Robinhood, for example, collects interest from customers’ uninvested funds on their balances and is heavily criticized for this practice. There is a charge – just like when you deposit money in a bank and get paid interest on the amount you have.

  • Premium Subscription

What Robinhood does is offer its users a Robinhood Gold account, which allows them to invest in the stock market. $2000 in your account gives you access to additional stocks, margins, and extended trading hours.

  • Fee Per Trade

There are some apps that charge a small fee for every transaction an investor makes.

GoodTroopers can help you form a trading app development team with highly skilled and experienced developers to build your own advanced trading app based on your own preferred revenue model.

How To Build An Investing & Stock Trading App Like Zerodha & Upstox?

Agile is the most widely used development methodology for fintech apps. After adopting this strategy, small cross-functional teams work with application owners in collaboration. Among the improvements are:

  • Initial Research & Development

When a product idea is validated, it becomes a business model and a development roadmap. For the app’s features, design strategy, and line-up, a team of experts gathers all the information.

  • Development Strategy Formulation.

The mobile app’s platform, managed cloud services, third-party APIs for core and non-core features, and other crucial tools are all taken into account by developers.

  • User Interface Design

Visual analytics is one of the app’s key features. Line and bar charts, stochastic oscillators, candlesticks, and other graphs must be considered by designers.

  • The Development Process

Mobile and web, frontend and backend, iOS and Android are all separated. Programming languages and tools are chosen by software engineers according to the situation, such as Java and.NET for writing code, JavaScript or Angular for front-end development, and so on.

  • Testing, Final Delivery & Maintenance

In order to establish the correct performance, QA engineers conduct complex testing across a variety of platforms and devices. It’s important to provide technical support, troubleshooting, and regular updates after the app have been placed in stores.

GoodTroopers can help you connect to world-class investing and stock trading app development companies across the globe. Discuss your unique idea with us and we will connect you with the best companies from around the world by assessing your requirements. You get to have the control in selecting your developers with GoodTroopers.

Suitable Team Structure To Build A Share Trading App Like Zerodha

  • Android developer 
  • iOS developer
  • UI/UX designers
  • Quality assurance engineers
  • Business analyst
  • Project Manager
  • DevOps

You get to have control over selecting the perfect team of developers from world-class investing and trading app development companies. GoodTroopers allows its client to interview the shortlisted companies and then hire.

Must-Have Features To Include In Your Investing & Stock Trading App

Questioners who ask for our help in building a stock trading app are typically looking for advice on how to choose the main features of an app interface. We recommend considering a customer’s journey through an app – where they’ll tap, scroll or need assistance from your side.

We compiled a list of must-have features for a stock trading app based on our own experience. If you’d like to know more about them, feel free to contact us directly.

  • A Quality Registration Process

Every stock trading app has a sign-in/login form at the beginning of the app. Make the page as simple as possible because no one wants to spend time filling out all the fields on a page. Also, you’ll be dealing with financial information, which makes maintaining your privacy and data security a top priority.

Just imagine a new authentication method – an ID check or social media integration – that you’d like to try out. Provide clear Terms and Conditions as well as assurances that users’ data is secure. You’ll need the help of experienced UX designers to ensure that the page has everything it needs and doesn’t look overburdened.

  • Stock Trading

App users download your app because it has a trading feature. Provide tools for executing orders, monitoring market positions and funds flow and displaying real-time data to your customers.

Investors need to be able to keep track of and edit transactions on shares or mutual funds as well as company profiles and other pertinent information. Adding a list of portfolios that can be updated in real-time will make your app more convenient.

  • Range Of Assets

There will be more users if there are more assets to invest in. As a result, try to diversify your portfolio by trading stocks, ETFs, and other investments. When developing a trading app, it’s also a good idea to include a deposit feature with the ability to check its status in real-time.

Provide a search feature so that users can find assets quickly and view active stocks or their current market value.

  • Analytics & Advisory

Incorporating analytics and reviewing statistics on trades and transactions can help your app stand out from the crowd. Traders will be able to see their results in performance charts and reports using these tools.

A Robo-advisor can be used to increase the analytics functionality. Assists users with portfolio creation, dividend reinvestment, or tax management. Customer relationship management systems (CRMs), banking research systems, and other financial services software can also be integrated with Robo-advisors like Acorns or RobotFX Fluid.

  • Notifications & News

Users can get a sense of the stock’s movement through integrated push notifications. Consider how often you’ll send a notification in advance. To avoid distracting users, they should be properly timed to avoid interrupting their work.

A newsfeed helps to keep investors up-to-date on the latest developments. Particularly for new and inexperienced traders, this is an essential feature of stock trading apps. Because the stock market is sensitive to local and global events, the quotes reflect this. 

As a result, players must always be up-to-date with current events. For example, with a newsfeed, users can get real-time information on exchange rates, initial public offerings (IPO), or mergers & acquisitions (M&A).

  • Dashboard

Traders should be able to see their portfolio on the dashboard, which should include their current balance, as well as all stocks and options they own. If you’re going to have a lot of graphs, numbers, or sections on this page, work closely with your UX designer to create an interface that’s easy to understand.

  • Search & Filters

Users need a powerful yet straightforward stock and option search tool. Users may want to look for a stock by its company name, not necessarily by its symbols, such as Apple or AAPL.

Suitable Technology Stack For A Stock Market App Like Zerodha

  • Data-heavy back-office systems where real-time performance is not a bottleneck, are written in Python. Django and Flask for certain web apps.
  • Bit of C++ and Java for special cases.
  • Countless complex business, financial, account, people processes, and back-office applications are built atop ERPNext. 
  • VueJS for web app applications. 
  • Flutter for iOS and Android mobile applications. Granted, there is still one React Native app.
  • MySQL instances with billions of rows as owing to certain dependencies.
  • Self-managed Redis instances in high throughput hotpaths.
  • Haproxy and Nginx for proxying, load balancing, and routing.
  • Kafka for realtime events and as an organisation-wide message bus.
  • Self-hosted Gitlab, RunDeck, RocketChat, Metabase, Phabricator, Postal etc.
  •  K8s to make service deployments uniform.
  • Minimal “AI/ML” for image and document recognition as an aid to operations.
  • Sentry, Grafana, and Prometheus for infra-wide systems and app metrics and monitoring.
  • ELK stack for logs, where storing terabytes of searchable logs for several years is a regulatory requirement.
  • Hybrid infra. Physical racks where numerous exchange leased lines terminate + AWS.

GoodTroopers Simplifies Your Trading App Development Project

GoodTroopers is the best place for you to hire world-class developers for your trading app development. We have a huge pool of talented developers from multiple companies. 

We bring you the best options available in development companies, as per your requirements and plans regarding investing and stock trading apps like Zerodha or Upstox.

Contact us to start your hiring process for trading app developers.

Wrapping Up

As a matter of fact, stock trading platforms are rife with complexities. Choose a software solution provider carefully to avoid problems. A high level of return, security, and user satisfaction can only be achieved when you have an application that takes your business to a new level of success.

Frequently Asked Questions When Building A Stock Marketing App Like Upstox (FAQs)

Q- What are the government regulations regarding Trading apps?

A. The government of different countries regulates most of the stock market to ensure safety and ownership to the investors.
Talking about India, there is a set of rules that apps must confirm, regarding data security and privacy.

Q. Which country has the largest Stock market?

A. As of 2021, NYSE is the largest Stock exchange in the world, having a market capitalization of 24.49 trillion USD.

Q. What is the best free APIs for building my own trading app?

A. Alphavantage, Yahoo finance, and Google finance are some of the free APIs you can use in building your own trading app.

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