Many people wonder how to create a stock market website that outperforms the competition. The growing demand for digital technologies in the post-Covid-19 world demonstrates that industries all over the world have been affected or are in the process of being affected by digital transformation.
Guest Posting for the finance industry, stockbrokers, investors, and lending institutions, in particular, have already implemented innovative technologies to remain relevant to changing market needs. However, with the advent of new practices and technologies such as open-banking and AI in FinTech, many people are wondering how to create a stock market website that outperforms the market’s existing websites.
What Exactly Is a Stock Exchange Website, and How Does It Work?
A stock market website is an internet-based platform that allows traders and brokers to trade financial commodities over the internet. These websites enable traders to invest in virtually anything, including bonds, currencies, debentures, stocks, and other financial instruments. Stock market websites are essentially e-commerce sites for stock trading.
Brokers can use stock market websites to find and track their favorite stocks, as well as invest in financial instruments. Additionally, investors can use the stock market website to access and research the funds in which they wish to invest. Although stock market websites do not always provide trading functionality, some websites, such as Trade Ideas, do provide complete functionality, including stock trading and ensuring that investors never miss a trading opportunity.
What Is the Appeal of Stock Marketing Websites?
According to Statista, 14.1 million people in the United States use at least one stock marketing website or app. This is due to the ease of use that the online stock marketing/trading platform provides. Stocks can be bought and sold by investors and brokers from anywhere in the world. The following are some of the most well-known advantages of stock marketing websites:
Allows stock trading to take place across geographical boundaries. This means that any trader with an account with a brokerage firm can conduct business over the internet, regardless of their location. Improve investor and client management. Online stock exchanges and trading platforms also serve as CRM software solutions, allowing for effective and efficient client data management.
Accessibility is 27/7. While stock markets are not always open, stock market websites are, allowing users to access information at any time.
Data is available in real time. Stock market websites provide users with real-time market data. The websites also use artificial intelligence to assist users in selecting the best stock for their needs, lowering the risk of investment.
Index Filters That Can Be Updated
Stock market websites make it simple for customers to filter their portfolios or indexes to monitor them quickly by providing updatable index filters. Filters shorten the time it takes to complete a task and provide users with an exceptional user experience.
Trading Capability
Although stock market websites are not required to function as an online stock trading platform, trading functionality is desirable. This feature is the final step in the stock trading funnel.
The most practical way to accomplish this is to integrate with a third-party trading platform. TradingView, for example, does not have its own trading platform; instead, it has implemented APIs from ForexTrader to allow ForexTrader account holders to trade.
Safe Money Transfer
Because both brokers and investors will be buying and selling stocks on the stock trading/market platform, the money transfer function must be simple and quick. Request that your developers create a simple yet secure payment flow and design that ensures the security of transaction data.
Charts and quotes are streamed in real time
A one-second delay in stock trading can result in a loss of millions of dollars. Stock trading is a quick process, and both brokers and investors make quick decisions. As a result, it will assist you in enabling live-streaming of charts and quotes on the home page or top bar. To ensure that you display accurate and up-to-date information, you will need to integrate APIs from various news and stock websites, such as CNBC or Insider. Although it does not appear to be a difficult feature to implement, it is one of the most important features for assisting users in making sound financial decisions.
Financial Predictions and Analysis
The stock markets are extremely vulnerable to both global and local political and economic events. A mediocre company’s closure has the potential to disrupt global trading. Giving users access to real-time financial forecasts will thus assist them in making informed investment decisions. Artificial intelligence is used by stock market websites such as Trade Ideas to provide investors with valuable market insights.
Notifications via Push
Notifications in mobile applications have indeed become obsolete, particularly when not integrated with personalicustomization. However, web portals continue to be important in terms of notifications. You can notify users of any significant market changes that may have an impact on their portfolio. If you have the resources to improve the intelligence of this feature using AI algorithms, go for it.
Watchlists or Favorites
Investors track stocks for a long time before investing in them; thus, if your stock market website allows them to select their favorite stocks and display them separately, the investor will be able to see any trends quickly without having to search specifically for them.
The Procedure for Creating a Stock Market Website
Before you build your stock market website, consider whether your business idea is suitable for a stock trading website or a stock market website. You should also consider how a full-fledged cloud-based stock market/trading platform would benefit you. Web-based portals, by the way, are more versatile and functional than static websites.
1. Understand the Compliances for Your Niche
Every industry vertical has both unique and common regulatory compliances. Consumer protection, data security, money laundering, and other such FinTech compliances are examples. Furthermore, the regulatory specifications differ depending on the political boundary.
2. Create the Stock Exchange Concept, User Journeys, and Experience.
Based on the compliances, you can consider the features and value that you will provide to investors and brokers. It will be beneficial if you prioritize the functionalities.
Following the development of the concept, you must create various user journeys based on your assumptions. There are several reasons why a user will visit your website; you should be aware of them and design separate user journeys for each. When you’ve decided how you want your stock market website’s users to interact with it, it’s time to create wireframes and.
psd. Remember that investors and brokers are well-educated and have little time to waste. As a result, it is critical that you design your stock market website in a minimalistic style. When designing your stock market website, keep the following factors in mind:
It is advantageous to keep the user interface and experience in mind from the start of your website concept. It will assist you in being realistic about potential software features. When the designs are complete, conduct usability testing. This is the most important phase, in which you will ensure that your website adheres to your initial plan.
You must guide the UI/UX designers because they may lack experience designing FinTech software solutions. Your feedback will assist them in understanding that you require a minimalistic design with a greater emphasis on usability.
3. Create a website/portal Design and build the website/portal.
You can begin developing your stock market website as soon as you have the detailed requirements in hand and the designs are complete. If you are unsure how to create a detailed requirement document, please read the following article and return: Make a Product Requirements Document. Every stock market website goes through three stages of development: Build the Architecture, Back-end Development, and Front-end Development.
Create Architecture
The architecture of your stock market website is critical to the overall system’s scalability and security. I recommend doing it yourself only if you have the necessary expertise; otherwise, it is preferable to collaborate with a FinTech development firm that understands how to build a stock trading platform.
Development of the Back End
Backend developers will integrate server technologies, manage the database, and develop software logic based on the architecture chosen. To ensure the smooth operation of the database and server, developers frequently use programming languages such as Java, PHP, Ruby, Python, Net, along with Oracle and MySQL. In layman’s terms, back-end development handles sign-ins, notifications, transactions, and other features for your stock market website.
Front-End Programming
The front-end development section of your stock market website is responsible for designing mobile and web interfaces. Front-end developers use programming languages like JavaScript, HTML, and CSS. The developers are also acquainted with software development frameworks such as AngularJS and Bootstrap, as well as libraries such as jQuery. Aside from backend and frontend developers, the development team typically includes a project manager, graphic designer, and quality analyst (QA).
How Much Does It Cost to Make a Stock Exchange Website?
It is impossible to estimate the cost of developing a stock market website right away. However, I can give you a ballpark range of where the majority of the cost lies, but it will be too hazy. Only with detailed requirements and preferences can an exact cost be calculated. So, let’s look at how to calculate the cost of developing a stock market website or platform:
The cost of developing any software solution is determined by the number of hours necessary to design and develop it. The same is true for the development of a stock market website or platform. The following is an estimate of the time required to develop various components of a stock market website:
- 3 – 4 weeks for environment setup and website design
- Back-end development takes 12 to 20 weeks.
- Front-end development takes 10 to 15 weeks.
- Admin panel creation time: 2 to 5 weeks
- Testing time: 1-2 weeks
- 1 week for production and 1 week for final release
As a result, the total time required to develop a fully functional stock market platform is 6 to 12 months. However, if the requirements are clearly stated and rigid, development time can be reduced by executing tasks concurrently.
With 40 hours of work per week, the total number of hours required to develop a stock market platform is 1,160 – 1,880 hrs. Given an hourly rate of $70 for software development in the United States, the total cost for stock market platform development will be between 80,000 and 130,000 USD. If you don’t need trading functionality, the cost will be much lower. As a result, the cost of a stock market website such as TradingView will be between 40,000 and 60,000 USD.
Should You Build Your Stock Market App in-House?
Now that you know how to build a stock market website, the question is whether you should do it in-house or outsource it to a software development company. You will have complete control over the development process if you develop your stock market website or platform in-house. You can begin working on your website right away. However, you must already have the necessary technical resources on hand. If you don’t have them, you’ll have to spend a significant amount of time recruiting and bringing them on board. Furthermore, if you develop the website in-house, the development costs will skyrocket.
This is why the majority of IT projects are outsourced. Even w There is no harm in outsourcing your stock market website development when companies like Adobe and Google outsource the majority of their IT projects. Outsourcing FinTech software development allows you to save time and money, gain access to a global talent pool, and avoid time-consuming recruitment and management.
However, there are some things you should think about before hiring a software development company to build your stock market website. Because not every software development firm is skilled in FinTech development, the company you choose should have extensive experience in developing software solutions for the banking and finance industries.
