Are you planning to build a Stock trading mobile app? Well, if yes then it is a great idea to choose the Robinhood clone application solution. In this write-up, you will get complete details about Robinhood and its exclusive features. The advancements in the mobile application development industry have changed the way we live, work and meet with new people, and handle our day to day tasks. These new ways have also changed how we execute our daily life: from handling daily expenses to tracking the records, apps help us exchange, accept, and transfer funds easily.
But wait what about investing apps? Well, there are various ways to invest your money and among all the stock trading options is exactly what will make you love the world of finance. The stock trading option is precisely why the Robinhood application has been such an accomplishment so far, particularly among the younger group of people. Robinhood is a stock trading application that helps users to trade stocks for free and makes investing process trouble-free, even for people with no prior knowledge in this field.
What does the Robinhood App do?
Robinhood app is undoubtedly one of the best stock trading apps available in the marketplace.
Well, the working process of the Robinhood app is quite easy. This app lets its users create the portfolio of their investment and trade stocks in an efficient manner. Even the users can receive up-to-date market data notifications and details about the upcoming events like dividends on their investments.
Things to Think about while Developing a Robinhood Clone
User-friendly User Interface Design
It is a well-known fact that stock exchange trading is not a simple job. This process needs complete preparation and knowledge of several things. Additionally, to use this app the traders need to continuously look for information about all the minor changes, observe marketplace information and craft results based on their annotations. The user-friendly interface of the apps helps the user to make difficult things easier for them. The stock trading app provides the user with complete exchange details in a comprehensible structure.
The User Experience that Prevents Minor Mistakes
The Free Stock Trading Apps like Robinhood put up with great accountability since they deal with funds and money. As far as the mobile interface of the app is concerned, there might be few mistakes due to negligence. One of the influential features of this app is its protection against accidental unwanted actions. While developing Robinhood clone stock trading app everything should be accurate.
Testing a Crucial Element
Robinhood clone stock trading app involves incorporation with a number of outside services, which can lead to a few inaccuracies in the application. So while developing an app like Robin Hood it is good to check the app systematically. Furthermore, if you want to keep your users connected with the app and don’t want to drop, it is essential to test the app several times and in case of failures check the mistake of some outside services too that you are using within the app. In general, it is hard to see an app in the marketplace that would need more inclusive testing than this stock trading app. To clone an app like Robinhood, incorporation and automatic testing are crucial points.
How Robinhood Stock Trading App helps in Making Money?
The stock trading app like Robinhood is completely free of charge, no charge is charged for its usage. Now if you want to know how this trading app helps in making money? In that case of Robinhood, there are mainly two applications: one is for conventional use and the other one is an application with superior functionalities. The second provides an option to take part in a larger range of trades. This version of the app is paid, and to use this app you need to pay membership fees.
As a matter of rule, there are mainly 3 conducts to make money on Robinhood stock trading app alternative applications: Make money with a paid version, with a freemium version, and a commission. Often the majority of the people use the freemium version of the app which allows you to release a wider variety of possibilities. In this version of app nothing can prevent you from coming up with your own way to learn about the application.
How much does it Cost to Develop a Clone App like Robinhood?
When it comes to the costing of the development of such an application, it totally depends on several factors.
• The platform you choose to develop the app i.e. Android or for iOS (or both)
• The list of features you want in your app
• Creation of a prototype of the app or not
• Looking for a freelance mobile app developer or a company
• What type of collaboration do you like?
• Size of the app
In order to give an in-depth reply about the costing, we can say that according to our calculations, the development of a Robinhood alternative will not cost you less than $25 000.
Some Statistics Related to Robinhood App
• According to marketplace reports the value of Robinhood app is more than $7.6 Billion
• The total number of app users stands for more than 6 million.
• The total sum of funding raised by the Robinhood stock trading app to date is $860 million.
• The application has carried out more than $75 billion in transactions.
• The majority of Robinhood’s users are under the age of 35.
• The standard age of Robinhood stock trading app users is 28-35.
Why Choose Free Stock Trading Apps like Robinhood?
The Robinhood stock trading app has become a successful application in a very short period. Developing an application like Robinhood needs overcoming a variety of challenges both technically and advertising related. For developing such type of app, you need to connect with a top mobile app development company having several years of experience in this industry. The mobile app development company offers you advanced mobile app development solutions in an efficient manner. In case you want to know more stock trading application features then contact the team of experts today.