Launching a trading app takes a lot of work. Given that your app is probably going to be the central platform that your products revolve around, it needs to be fast, secure, reliable, and able to meet the demands of your traders (who expect a smooth and simple experience).
Before you start the development process, you need to be clear on what will make your app stand out—and, importantly, stand the test of time—in a crowded market. Here’s what every CEO should know before launching a trading app.
You Need More Than a Good Idea
Having a great idea is obviously a good place to start, but this alone isn’t enough to succeed with a trading app. Your target audience doesn’t just want to see a platform that’s been creatively designed—they also have high performance standards when it comes to execution and data, with strong security to keep their accounts safe.
That means focusing just as heavily on your platform’s performance speed and accuracy, something that requires serious technical planning and infrastructure beyond design aesthetics.
Security Must Be Built In From Day One
Security absolutely shouldn’t be an afterthought when you’re designing a trading app. You are, after all, expecting your users to hand over their sensitive information, like ID documents and bank details.
If your app leaks this data or gets hacked, your PR team is going to face a nightmare situation. Beyond losing customers, you may even face fines or legal action, and your reputation might never recover. With that in mind, you’ll want to make sure your development plan includes top-level encryption and secure APIs, with regular vulnerability testing to keep your platform as secure as it can be.
You Can’t Do It All In-House
You might be planning to hire a few developers to get your app made, but this generally isn’t the most cost-effective approach to take. You can’t view a trading platform in the same light as a general consumer app. Whoever designs your software will need specialized knowledge in everything from market data feeds and order routing to latency handling and financial regulations.
So, rather than hiring any old developer, choose a dedicated company with years of niche experience, like https://devexperts.com/. Working with an expert firm means you can get a platform that’s designed to meet industry standards from the start.
Regulation Will Shape Your App
Regulation is something else you can’t ignore when you’re building a trading platform.
Every region has its own rules covering a wide range of areas, from data storage to risk warnings. That means, if you’re targeting different markets, your app needs to be adapted for each one, so you don’t end up facing restrictions when you go to expand. Make sure your app developers understand financial regulations, so your app can easily pass approvals and launch on time.
Takeaway
When you’re launching a trading app, you’ll get the best product by focusing on performance, security, regulation, and experience from the start.
Yes, you can do this in-house, but outsourcing the job to experts is the best solution if you want to get a market-ready product in half the time.