Modern Trading Platform in 2021: Functions, Features, Examples

The person who’s stuck in the 80s might recall Wall-Street from the movies: crowded rooms full of brokers shouting something about stocks.

Well, crowds are a long-forgotten reality due to COVID-19, and the world f trading has changed drastically even before that.

Investors, brokers, other stock market participants are using software and the latest tech devices in their activities.

There is no perfect e-trade app on the market, but there are enough solutions to make a good set of best practices used for their development.

In this article, we break down the most demanded and popular features and functions modern-day trade platforms should have, observe their realizations in industry-leading products, and speculate on legal issues that are relevant for any businessperson who’s interested in delivering services of a trading platform.

How Does a Modern Day Trading Platform Should Look?

Apps, websites designed for simplifying communication and access to traditional offline things via tech is what a new evergreen trend looks like.

Smart business people do not resist that, they are looking for capabilities and a new realization of their ideas. Brokerage companies are no exception to this. Not so long ago they began to wonder how to build automated trading systems. Many companies got it running well as a result.

Special software, like a trading platform, allows controlling things at all times. Traders, brokers, investors are enabled to make any transaction that likes in the stock market.

In a couple of words, stock market platforms are aimed both at those who are interested in long-term trade and investments, and those who commit to short-term deals.

The examples of the most popular trading platforms are listed in the next blog post section.

Industry Leaders

You should consider trying a custom software development company for designing a trading platform. However, you should look up to the competition and find the niche for your future app.

Let’s try to figure out how an optimal trading solution with advanced functionality should look like to be relevant to the market.

Well, it has to be an app that is suitable for placing trades, tracking stock information in real-time with minimal (0) possible glitches as big money of an end-user is involved

Here are examples of successfully functioning platforms. We advise you to study their functions and features to come up with the best possible outcome for yourselves. In developing a trading platform of your own, of course.

Robinhood

Source: robinhood.com

Robindhood is one of many free trading platforms on the market. It allows compiling personal financial credit documents, receiving info about quotes in real-time, and trading stocks without having to pay for each transaction. 

Its monetization is in the accumulated interest of the users.

EToro

Source: etoro.com

eToro Trade has chosen an interesting path for the marketing development of the platform. It is basically a crowdsourcing software that allows users to communicate with well-known traders as well as monitor the transactions those people make. 

Quite an original idea!

They claim to be “the world’s leading social trading platform” whatever it should mean to you from an advertising point of view.

The platform’s database has info about millions of trades worldwide, and users are free to examine peers’ portfolios, revenues, transaction history, and other metrics. The app is quite popular among beginners.

StockTwits

Source: twitter.com

StockTwits is a  stock market application that is firmly connected with Twitter for the analysis.

The app allows users to find out what others think about certain security papers.

The software helps traders to keep up with all that is happening on the exchange market and be aware of the fate of the shares they are interested in.

Functionality Trading Platform Should Include

Stock market apps’ MVPs should include the following key features

Check-in form. The authorization process should be as plain as it gets to not push away the potential users. At the same time, security is vital. We are dealing with the financial software after all. It wouldn’t hurt to offer several registration options, such as signing up via social networks, emails, phone numbers.

User page with sensitive personal data. This section of the platform should be editable and changeable. Some of the info should only be altered with the permission of the administration of the platform.

Opportunity to place trades on multiple stocks in real-time. This function is self-explanatory.

Payments and transactions. The feature is due to the realization for executing orders. Please, note that any miscues or delays in this section need to be excluded

Portfolios of the stock market. An end-user should have the ability to track the portfolios in real-time.

Deposit making. The feature offers an easy way to check the status of the deposit – at all times. 

Quote monitoring. Real-time mode for all quotes is a must.

Search. A convenient search engine creates a great deal for user experience (UX).

Analytics dashboards. Stockbrokers, investors are living and dying on analytics. Modern-day traders would definitely be thankful for the opportunity to observe stats and analyze the results of transactions. You should be able to provide them with charts, reports, and other sources of stats for their analysis.

Push notifications. A good notification system is always beneficial to many kinds of software. The user will be connected with your software.

Newsfeed. Surprisingly, an important part of trading software development. As the stock market is very dependant on events happening in the region and worldwide, newsfeed appears in many of the modern solutions.  The feature notifies users about the news of the trading industry, exchange rates, allowing users to remain on the alert.

Legal Issues

If you have been working in the brokerage market for a long time, then you’re well-acquainted with the issue of legalities. 

Only licensed operators can work in certain territories. That’s vital to take into account while offering your trading platform on a certain market. 

The stock market is heavily regulated. Any violations lead to fines and penalties that could get you bankrupt easily. If we are talking about the US, it is the Securities and Exchange Commission.

Also, special programs are developed to protect the interests of investors. If you want to be involved in this business, it makes sense to study these issues thoroughly.

Also, licenses could be pretty expensive, but they are a necessity – critical factor to gain popularity and prosper in this business

Conclusion

Trading software development and realization is a competitive environment. If you feel that you have any ideas that are just waiting for realization, contact us, and Elinext will help you to get there.

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