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Investment App Development: A Beginner’s Guide!

52 Views | 7 min | Published On: June 17, 2024 Last Updated: July 9, 2024
investment app development guide

With only a few clicks, anyone may begin investing because of the investment applications. More than 75% of smartphone owners use and interact with at least one investment management app, which indicates the significant popularity of investment platforms. 

Venturing into investment app development is a profit-maker business. However, building an investment app that would stand firm in today’s competitive market is also challenging. To succeed, you must deeply understand investment app development before diving in. 

We'll outline a detailed road map for navigating the intricacies of investment app development in this guide, along with involved cost, investment app development process, and other considerations. Make sure you stick around till the end so you don't miss any crucial information. 

Let’s get started!

3 Reasons Why You Should Invest in Investment App Development

Check out the top 3 compelling reasons why you should invest in investment app development:

3 reasons why you should invest in investment app development

#1  Growing Market Demand

The market for investing apps is growing quickly due to consumer demand for simpler ways to manage money. Given this industry's rapid growth, there seemed to be a lot of room for new or expanding businesses. With this trend, people are more equipped than ever to take control of their financial future. 

#2 Enhanced User Engagement

Investment applications provide a unique way for users to engage through personalized and interactive features.

These applications, which include real-time market data, portfolio tracking, and personalized investment advice, can greatly increase user engagement and satisfaction.

When people participate on the site, there is a greater chance of long-term growth and retention rates. 

#3 Revenue Generation Opportunities

The global trading market is expected to grow from $8.7 billion in 2021 to $12.16 billion by 2028, which is 5.1 percent annually.

The expanding market growth and enhanced user engagement amplify the potential for significant financial returns. Investing in developing an investment app increases your opportunities to generate revenue. 

4 Types of Investment Apps

It is important to understand the different types of investment apps to decide which would be the right one for your business. let’s  learn:

4 Types of Investment Apps

1. Banking Apps

  • Users can invest and perform specific banking operations irrespective of location and time. 
  • Banking investment apps often belong to licensed financial institutions. 
  • Users can seamlessly make investments, open IRA accounts, perform financial transactions, check bank balances, save money, take loans, and perform other activities. 

Examples: Chase Mobile, Revolut, Wells Fargo

2. Standalone Investment App

These apps are dedicated solely to investments and come in various forms:

  • DIY: Users manage their investment on their own;
  • Human-Advisor Apps: Human financial advisors provide personalized investment advice online;
  • Robo-Advisor Apps: algorithms automatically manage users' investments based on their risk preferences and financial goals with little or no human interaction; and
  • Hybrid Advising Apps: Incorporate features of both human advisor services and robo-advisors. 

Example: Acorns

3. Stock-Trading App

The primary purpose of stock trading apps is to enable users to purchase and sell stocks. They provide clients with the information and tools required to monitor the stock market, identify trends, and handle their portfolios successfully. 

Examples: Robinhood, E-Trade, and Vanguard

4. Cryptocurrency Platforms

  • Here, investment apps are entirely focused on cryptocurrency transactions. 
  • Users can diversify their portfolios by acquiring a variety of tradable assets, including as equities, bonds, and cryptocurrencies. 

Examples: Coinbase, Binance

Must-Have Features to Incorporate into Investment App Development

Below, we’ve listed the top features to incorporate into investment app development. Choose the ones that fit your app’s objective and requirements. Let’s learn:

top features to incorporate into investment app development

1. Registration and Onboarding

Ensure that the registration and onboarding procedures are simple to follow and flawless. Provide options for social network, email, and phone number registration along with comprehensive instructions to help people get started and streamline the account creation process.  

2. Money Management Tools

Include budgeting, savings goal-setting, and spending tracking tools. These tools help users manage their money wisely by offering insights into their spending patterns and overall financial health.  

3. Trading Management

Give clients powerful trading tools so they can transact in real time and purchase, sell, and keep an eye on their money. To improve the trading experience, provide elements like order types, market data, and portfolio management.  

4. Security & Privacy Protection

Make use of cutting-edge security measures including encryption, two-factor authentication, and biometric login. Uphold compliance with data protection regulations in order to protect user information and promote trust.   

5. Real-time Analytics

Provide performance tracking and real-time analytics to investors. To help customers make wise selections, give them the most recent information on important factors like market trends, portfolio performance, and other pertinent characteristics.   

6. Push Notifications

Enable push alerts to inform users of important updates, market movements, and investment opportunities. Customize alerts based on user preferences to boost communication. 

7. Transaction Management

Provide features that make transaction administration safe and easy. Give users access to thorough records and reports to monitor their withdrawals, deposits, and transaction history. 8

8. KYC and AML Integration

Integrate know-your-customer (KYC) and anti-money laundering (AML) processes to verify user identities and halt fraudulent behavior. Ensure rules are observed to maintain the platform's integrity. 

9. Investment Calculator

Make investment calculators available to assist users in planning their investments and estimating possible returns. Provide interest and ROI calculators, among other financial projection tools. 

10. News and Social Feeds

Integrate articles and social media feeds to inform clients about the most recent developments in the financial and market news. Permit users to participate in discussions, follow expert opinions, and keep current with industry trends.  

Develop Your Investment Application: Step-by-Step Guide

Following, we’ve listed a step-by-step guide to building investment applications. Let’s understand the overall process:

step-by-step guide to build investment applications

Step 1: Research & Planning

It is essential that you conduct thorough market research before starting the development stage.

Understanding the market, identifying the target user base, the investment app's goals and purpose, the user base's needs and pain points, the features and functionality your app should have, and your monetization strategies are all necessary in this situation.

Make a thorough plan outlining your investment application. This will contribute to your application's success.  

Step 2: Establish a Business Model

Your company strategy must be established before you can enter the FinTech industry. This technique can be used to determine value propositions, customer types, income streams, important activities, important resources, channels, and cost structure.  

Step 3: Complying with Law & Regulations

Ensuring that your investment app is complying with relevant financial laws and regulations. 

Investment applications collect, process, and store users' details. Therefore, it is crucial to adhere to laws to protect data and privacy standards. 

For example, in the United States, the fintech sector abides by the laws of the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC). 

Step 4: Hire the Right Development Team

To create your investing application, you need to work with a reputable business like Apptunix. Selecting a development team with Fintech experience can help you from conception to implementation.  

Step 5: List out Crucial Features

It is crucial to pick out the essential features of your investment app. These include trading management, real-time analytics, transaction management, money management tools, and more. 

When building your investment application, you can opt for basic or essential features. Later, you can incorporate advanced features into your app to target the audience on a broader level. 

Step 6:UX UI Design

Want to attract customers? Then it's essential to design a user-friendly, accessible, and intuitive application. Designers must create seamless user navigation that boosts user engagement and satisfaction. 

Designers must choose the perfect theme, elements, icons, and other components that would be simple to use and offer an amazing user experience.

Step 7: Choosing the Right Tech Stack

It's crucial to select the appropriate tech stack for your investment app development. You can guarantee the reliability, security, and scalability of your application by including the appropriate technology.

The tech stack is contingent upon your investment application's criteria, though.  Therefore, consulting the right investment app developers to choose the right tech stack would be better. 

Step 8: Investment App Development

This is the most crucial stage and tends to consume the longest time. Here, developers begin the development process by first building the core functionalities. To make the process more structured, dividing the segments into several parts (known as sprints) is crucial.

Developers integrate the programming languages, tech stack, design, APIs, and other integrations that your app requires. Once everything is completed, your investment application moves to the testing stage. 

Step 9: Testing & Feedback

Conduct comprehensive testing before you make your investment app live. This stage helps you identify and fix any errors or bugs. 

It includes several tests, including usability, integration, system, and unit tests, to ensure your app is reliable, safe, and easy to use on multiple devices. 

Step 10: Launch Your App

It’s time to launch your investment application on the Google Play Store(Android) and Apple Store (iOS). Follow all the rules and regulations for each platform app submission. 

Once your investment app is launched, monitor its performance and continuously update it based on user feedback. This will help improve your application and enhance its functionality.

Monetization Strategies to Generate Money From Investment App

Incorporating monetization strategies into your investment app is highly crucial to generating money. Here are the top 3 monetization strategies that you can implement:

monetization strategies to generate money from investment app
  1. Advertisements: Getting financial institutions to partner with you to display their adverts can increase revenue for your app. It includes promoting financial products or integrating services that complement the app’s offerings
  2. In-app Purchases: As users get used to the application and its design, they can search for additional capabilities and greater control over their investments. These additional options come at a cost.
  3. Subscription Fee: This is another monetization strategy that generates revenue from your app. Here, you can offer premium features through subscription plans. Features including trading options, advanced analytics, and customized financial advice are available to users.  

How Much Does it Cost to Build an Investment App?

Although, there’s no ideal cost to develop an investment app. It’s mainly because of various factors impacting the development cost. 

However, the estimated cost ranges from $70,000 to $1,00,000 or above. This depends on the project’s complexity, UX UI design, tech stack, features & functionalities, and much more. 

Another factor that impacts the investment app development cost includes hiring financial advisors. 

Note: Minimum Viable Product (MVP) Approach

If you want to build a cost-effective investment app, then opting for MVP is the right choice. 

Here, you will launch your investment app will basic or limited features & functionalities in the market. It will help you to gain insights, identify key improvement areas, and analyze the market as well. 

Once you’ve tested your application and competitive landscape, you can use a fully developed application. Reach out to investors and pitch your application to gather funds to create your fully-developed investment app. 

The MVP approach helps you focus on the core value proposition, minimize rework, build strong relationships with customers, and enhance the efficiency of business operations. 

Partner with Apptunix to Build a Robust Investment App Development

Partner with Apptunix, leading Fintech app development company to create a investing app that stands out in the competitive industry. Our comprehensive understanding of app development enables us to offer innovative solutions that are tailored to your specific needs. 

Our professional team ensures the utmost security, a faultless user experience, and cutting-edge features so you can provide your users with an unmatched investing platform. Choose Apptunix for a dependable, successful, and lucrative investment app development experience.

Frequently Asked Questions(FAQs)

Q 1. How long does it take to build an investment app?

It depends on the project’s complexity which determines how long it will take to develop an investment app. Check the following:

  • For a basic app, it takes 3 to 6 months
  • For an intermediate app, it takes 6 to 12 months
  • For an advanced app, it takes more than 12 months. 

Q 2.How do investment apps make money?

The main revenue streams for investment apps are subscription services and transaction fees. In addition, they might make money from agreements with financial institutions, premium features, and interest on capital that isn’t invested.

Q 3.How much does it cost to build investment app from scratch?

It will cost your around $70,000 to $1,20,000 or above to develop an investment app from scratch. However, it all depends on the project’s complexity, features & functionalities, UX UI design, tech stack, and more.

Q 4.Which are the most popular investment apps?

Some of the most popular investment apps include Robinhood, NerdWallet, Coinbase, Acrons, and more.

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App Monetization Strategies: How to Make Money From an App?

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