The rise of a digital technologies requirement in the post-Covid-19 world implicates that most industries are either already affected or will be affected by the technological revolution. Talking about the finance industry,Guest Posting investors, brokers, etc. have already adopted technology to stay relevant in the changing world. This shift has triggered stock trading app development, with apps like E*TRADE and Robinhood leading the fintech market space.
As per a report by Statista, stock trading apps have an awe-inspiring penetration rate. In 2019, Android finance apps penetration stood at 25.75%.
What are Stock Trading Apps?
In general, the purpose of websites and mobile apps is to make a product or service delivery convenient for digital-savvy customers. Like many other industries, the finance industry has also decided to reap the benefits of mobile technology. Among other digital transformation activities, the brokerage companies figured a way to automate their traditional trading system via Stock Trading Apps.
The brokerage companies and startups like E*TRADE were right Database Development about their desire to democratise the stock trading market. Stock trading apps allow traders and investors (including individuals) to conduct all sorts of transactions in the stock market whenever they want. These apps allow users to manage their portfolio without having to pay a commission to a broker. This eased-out opportunity to invest has built people’s interest in stock trading.
The year 2020 has seen record demand for digital trading mobile apps. While the United States saw massive unemployment, the stock market, on the other hand, was experiencing growth because people saw trading as a way to make money. In June 2020, Robinhood realised its highest trading volumeever. Not only Robinhood, but even TD Ameritrade alsoreported record tradesduring the second quarter of 2020.
Best Stock Trading Apps
Robinhood is a stock trading platform that allows users to invest in stocks and ETF funds without charging any commission. The app caters to both beginners and seasoned trading pros. The platform provides users with the ability to compile personal lists of financial credit documents and security papers and know real-time information about quotations. The company’s monetisation strategy includes accumulating interest from the user accounts.
E*TRADE is a subsidiary of Morgan Stanley. The E*TRADE mobile app is an electronic trading platform that allows users to trade financial assets, including preferred stocks, common stocks, exchange-traded funds, futures contracts, mutual funds, and fixed-income investments. The users won’t have to pay any charges for US-listed stocks, ETF, and options contracts. However, some services are chargeable. You can find the pricing details here.
eTorois a social trading platform that allows users to not only invest but also communicate with renowned traders. The app is considered to be the original idea for stock market app development. The eToro application is beneficial to people who want to learn about stock market trading while earning at the same time. eToro users can do Stock and ETFs trading, CFD trading, and invest in cryptocurrencies.
StockTwits is a social media platform where investors, entrepreneurs, and traders can share their views or ideas. The company was founded in 2009 by Soren Macbeth and Howard Lindzon. Though the company started with a simple app built on the Twitter platform, it is the first to organise conversations using cashtags (i.e., $AAPL). Since then, it has grown its social network of professionals from the investment domain. Currently, StockTwits has more than 3 million registered users and audience.
