Investment App Development: Process, Types & Cost

The growing popularity of investment app development is prompting online financial consulting firms, brokerage agencies, and investment companies to embrace the digital landscape.

For example, since its launch in 2013, the Robinhood investment app has emerged as a trailblazer in the investment platform industry, setting new standards for innovation and accessibility.

Everyone in the investment industry is trying hard to have a strong foothold in the market by offering accessible and convenient ways to make money off of savings. 

What Are Investment Apps?

Investment applications enable users to invest in the stock market and other financial markets conveniently while providing the ability to track and manage their investments, creating a comprehensive investment portfolio.

A stock trading application is a type/ example of an investment app through which interested parties can buy and sell shares of stock, including other investment products. These applications offer convenience to those who are regularly involved in stock trading.

Furthermore, investment apps eliminate the necessity of hiring individual brokers for negotiations. 

The development of a stock trading app begins with creating a robust back-end system or investment platform that encompasses comprehensive data about the stock exchange and other relevant services.

Important Statistics About The Investment Apps

According to various studies, we can easily conclude that millennials and GenZ are the emerging investors since 2019, and they seem to be changing the investment landscape.

Most of these young folks (almost 78%, under the age of 35) leverage apps like Robinhood to make meaningful investments and purchase stocks. 

Furthermore, within the same age bracket, there is a strong desire to invest in companies that are driving positive change in society. 

As for the top 5 stocks favored by millennials, they predominantly belong to global tech giants including Apple, Tesla, Netflix, Facebook, and Amazon.

Demands are prompting entrepreneurs towards investment application development. The days of requiring extensive knowledge or dedicated brokers to invest in stocks are long gone. Now, all you need is an application to effortlessly manage your investment activities.

Types of Investment Apps

Investment apps come in various types, catering to different investment preferences and objectives. 

Whether it's trading, robo-advisory, mutual funds, real estate, or social trading, these apps offer users diverse ways to access and manage their investments, empowering them to navigate the financial markets with ease and convenience.

Let’s dive deeper into some of the most popular types of investment apps used across the world.

1. Stock Trading Apps

Stock Trading apps are designed to facilitate the buying and selling of various investment instruments such as bonds, cryptocurrencies, and more. They provide real-time market data, order execution capabilities, and portfolio tracking features. 

Trading apps cater to both experienced traders and beginners, offering advanced charting tools, research capabilities, and even social trading functionalities where users can follow and replicate the trades of successful investors.

2. Bank Investment Apps

Bank investment apps have transformed the way individuals manage their investments within their existing banking relationships. These apps provide customers with a comprehensive platform to access and manage their investment accounts seamlessly. 

With features such as portfolio tracking, personalized recommendations, research tools, and integrated banking services, bank investment apps offer convenience and efficiency. 

Users can view their investment portfolios, make transactions, set financial goals, and receive insights and guidance all in one place. These apps prioritize security, ensuring that customer data and transactions are protected. 

3. Standalone Investment Apps

Standalone investment apps have gained popularity as dedicated platforms designed specifically for investment purposes. These apps operate independently from traditional banking institutions, offering users a focused and specialized experience. 

Standalone investment apps provide a range of features such as stock trading, robo-advisory services, mutual fund investments, real estate investments, or social trading capabilities. They often provide comprehensive market data, research tools, portfolio tracking, and personalized investment recommendations. 

With a user-centric approach, standalone investment apps cater to the needs of investors seeking flexibility, advanced features, and a seamless investment experience outside of the traditional banking landscape.

4. Robo-Advisory Apps

Robo-advisory apps leverage technology and algorithms to provide automated investment advice and portfolio management. These apps analyze users' financial goals, risk tolerance, and investment preferences to offer personalized recommendations. 

Robo-advisory apps are suitable for individuals who prefer a hands-off approach to investment management, as they automate portfolio rebalancing and make investment decisions based on predetermined algorithms.

5. Social Trading Apps

Social trading apps combine investment functionality with social networking features. Users can interact with other investors, follow their investment strategies, and even automatically replicate their trades. 

Social trading apps create a community-driven environment where users can learn from and share insights with other investors. These apps are beneficial for individuals who want to engage in a collaborative investment approach and leverage the wisdom of the crowd.

6. Real Estate Investment Apps

Real estate investment apps provide users with opportunities to invest in real estate properties or real estate investment trusts (REITs). These apps offer a platform to explore and invest in properties, monitor property performance, and receive regular rental income or dividend payments. 

Real estate investment apps are suitable for those interested in diversifying their investment portfolio with tangible assets.

Popular Examples Of Investment Applications

Here are a few widely used investment applications popular across the globe.

• Robinhood

This investing app needs no introduction. The app was developed back in 2013. It's a commission-free trading platform that had half a million users in 2014 - which climbed up to 13 million last year (2020).

As per Statista, in the second quarter of 2021, Robinhood, the online trading platform, reached a peak net revenue of 565 million U.S. dollars. Since then, the revenue has maintained a stable trajectory and reached a settlement of 380 million U.S. dollars by Q4 2022.

• Acorns

Designed for novice traders and investors, this trading app caters to individuals who are new to the world of trading. It offers portfolio management according to an individual's predetermined criteria.

Ideal for individuals with consistent investment habits and a long-term savings focus, this application is well-suited to meet their needs. 

Acorns app started with 100,000 accounts in its first month and now has over 3.5 million users.

• Invstr

This app was launched back in 2013 and has secured $40 million in funding until now. Similar to Robinhood, this trading platform also operates on a commission-free model.

This financial education app provides users with personalized investment options, digital banking features, real-time analytics, and a wealth of educational materials. Users need only $5 to start trading with no additional fees.

• Wealth Front

This investment app has gained recognition within the Robo-advisor community, offering investment management services with minimal human interaction. Setting it apart from other apps, Wealthfront charges a nominal management fee for its services.

From initial goal-setting to investing - it offers a full package along with a user-friendly platform. With a user base of 100,000 and managing over $4.6 billion in assets, Wealthfront has secured an impressive $129 million in capital.

• Betterment

Speaking of Robo advisors, the Betterment app is a leader. Betterment offers two account options: Betterment Digital and Betterment Premium.

Betterment Digital has no account minimum however charges 0.25%, the same as the wealth front for annual management, whereas users get certified financial planners through a betterment premium account on 0.40% of assets and $10000 of account minimum. 

How to Create an Investment App Platform?

Similar to any other platform, investing in app development necessitates the allocation of resources and effort.

When it comes to developing a mobile investment app, careful planning and execution are key. The process involves market research, defining app features, coding, testing, and deployment. Hiring a skilled development team ensures a high-quality and user-friendly app. 

To ensure a seamless development process, it is crucial to follow the simple steps for creating an investment app. By doing so, you can achieve successful delivery and a smooth user experience.

• Ideation & Market Research

The first step is to conduct market research for identifying investing app ideas that are lacking in the market and how your idea can fill in the gaps. 

Understanding your customers' pain points and challenges is essential. By identifying their specific requirements, you can gain clarity on your target audience, making it easier to cater to their needs.

Additionally, competitor analysis is a very important aspect of your entire market research strategy.

This approach allows for a comprehensive analysis of your competitors' strategies, enabling you to identify opportunities to differentiate yourself and gain a competitive advantage. In addition to assisting with market research, this service helps you uncover answers to the following questions:

• The goals of your investing app development 
• Your target audience including their demographics
• Customer's pain points and needs
• Features your app should have to address the issues 
• Ways to monetize your solution
  
  
• Prepare A Business Model

Having a well-crafted business plan is crucial, particularly if your aim is to generate significant profits with your investment app.

You should know how much commission will be charged, what kind of services you will offer, and the amount you will charge for the services. For example, Acorns charges $1 per month for its services. Additionally, users have the opportunity to earn commissions through referrals when engaging in trading activities.

• Plan The App’s Architecture

The third step involves establishing the infrastructure for your investment app. Similar to fintech applications, your app's architecture should be robust, secure, and capable of real-time data visualization. It is essential to ensure its strength and reliability.

Plus it should be fast and easily able to process huge volumes of data with immediate response time. 

When it comes to security, it is crucial that your investment platform adheres to global regulations specific to each region, such as the General Data Protection Regulation (GDPR). Compliance with these regulations ensures the protection of user data and reinforces trust in your platform.

• Pay Attention to the UX Design & Features

For a smooth and efficient customer onboarding process, UX/UI design plays a pivotal role. It is essential for your app to excel in terms of user experience and interface, ensuring a standout presence in the market.

Do not overwhelm your user with too many pop-ups or registration forms. Keep it simple. Once they are successfully onboarded, make sure users can easily navigate through the app and data regardless of the investing app development platform it is built on, or the screen size.

Furthermore, at this stage, you determine the features and functionalities necessary to provide a seamless user experience. This involves careful consideration of the elements required to deliver optimal performance and user satisfaction.

.We will discuss more about the features you should have in your app in the following sections, so stick around.

• Hire A Development Team

If you already have an in-house development team, well and good. But if you are a stock market app startup, for example, the best advice is to outsource seasoned project-based stock market app developers who are well-versed in how to make stock market apps in Android or iOS both.

Engaging an outsourced team of experienced developers is an ideal solution, as they possess ample expertise in working with similar solutions and are knowledgeable about the latest trending tech stacks. 

Their experience and insights enable a strong foundation for your investment application development journey. Most importantly, they are cost-effective and ensure the high quality of the final product.

• Build the App & Test for QA

With your user journey mapped out and a fully functional prototype in place, it's time to turn your idea into a reality through coding. 

When collaborating with multiple developers, ensure that the code has a simple syntax and is flexible enough for others to comprehend and make modifications with ease.

The development phase is often time-consuming, so it is essential to adopt an agile development approach to streamline the process and enhance efficiency. Pro-tip is to test the product with each build for quality assurance to save time later on.

• Post-Launch Support For Platform Management

After the initial release, track your app for performance, speed, and bugs for improvements. If you have outsourced services from a software development consulting company, they will take the app maintenance load off of you and take full responsibility for technically managing the app for smooth performance.

Important Features of Online Investing Applications

• Personal user accounts to track performance 
• Transaction management to transact and invest funds in different investment services
• Multi-currency accounts to engage a global audience 
• Cryptocurrency trading within an investment app platform
• Analytics dashboard to provide insights 
• Banking integration to make investments easier 
• KYC and AML integration to add an extra layer of security
• Real-time alerts, push notifications, and reminders about the stock market et al.
• Robo-advisors educate and counsel people
• Micro investment options from everyday transactions
• 24/7 customer support for obvious reasons 

How Much Does it Cost to Develop an Investment App?

Trading apps, as a type of investment application, necessitate a comprehensive team comprising front-end and back-end developers, iOS and Android developers, UX/UI designers, business analysts, project managers, QA engineers, DevOps specialists, and a team lead.

The cost of developing an investment app varies depending on the company and its specific requirements. An investment app with a basic user interface and must-have features ranges from $50,000 to $70,000. Whereas complex app projects would cost at least $100,000 if not more.

Partner with InvoZone to Build a Robust Investment App

In today's digital era, investment apps have transformed the way individuals participate in the financial markets. These apps offer a convenient and accessible platform for users to explore investment opportunities, monitor market trends, and manage their portfolios. 

With our expertise in building cutting-edge mobile applications, we can create a powerful investment app that provides seamless access to investment opportunities, real-time market data, and personalized investment strategies. 

We offer comprehensive application development services tailored to meet your specific needs. Take the first step towards success by partnering with InvoZone today. 

Frequently Asked Questions

1. How do I create an investment app?

Creating an investment app involves defining goals, conducting market research, planning and designing the app, hiring a skilled development team, testing for performance and security, implementing robust security measures, ensuring compliance, launching strategically, gathering user feedback, and making continuous improvements. 

Partnering with an experienced app development team like InvoZone can streamline the process and ensure a successful investment in app creation.

2. Why Outsource InvoZone for Investment app development?

Outsourcing InvoZone for investment app development offers several advantages. With a strong track record in delivering high-quality solutions, InvoZone brings expertise in mobile app development and a dedicated team of designers, developers, and testers. 

Outsourcing reduces costs compared to in-house development and ensures timely delivery. InvoZone prioritizes customer satisfaction, providing ongoing support and maintenance. 

Collaborating with InvoZone guarantees professionalism, expertise, and a streamlined development process.

3. How much does it cost to make an investing app?

The cost of developing an investing app varies depending on factors such as features, platform, design, development time, and location. Basic apps may have a lower cost, while advanced ones with real-time data and personalized strategies are more expensive. 

On average, investing in app development ranges from tens of thousands to hundreds of thousands of dollars. Discussing your specific requirements with a development team will provide a more accurate cost estimate.