How to build a trading web app in the UAE?
The key steps associated with the development of a Dubai trading app required hard work of web app developers, the time they spent on app design & development along with the past portfolio in similar fields.
We have already discussed the best trading apps in UAE for your understanding, but if you wish to learn about the process that leads to the design and development of the trading web app.
We are the generation that has seen a lot of financial crisis, and due to the wrong decisions of our ancestors we have to actually struggle a lot.
Both the grandparents and parents are now losing their savings and earnings in bank bubble trust and it requires a secure method to build security as the top most priority.
Nowadays, the young generation relies more on the stock exchange and the idea of investing on stock exchange, management and paying everything online through the app rather than getting the cash withdrawals from the banks.
Based on our research, the stock trading domain is one of the most acquired industries by the app developers and a lot of clients are coming up to the companies to get started with their web apps.
In this blog, we are going to discuss the core methods that take you to the detailed creation of a trading app in UAE without even going from one site to another to grab the details.
From key strategies to methods and processes involved behind the backend, we are going to discuss it now:
How to build a Trading App in UAE — Quick Overview
In this section, we will learn the steps associated with the creation of a trading app in UAE:
- Research and Planning Nothing starts without research and proper planning. Of course to build the best trading app in UAE you will have to do prior research that what’s trending in the market, how companies are ruling the domain.
- Designing and Prototyping The second step involved within the trading app in UAE design and development is to learn about the designing, how the wireframes will be done, the color codes, patterns and layouts involved within the entire phase.
- Selecting the Technology Stack While selecting the language for development like, Java, Python, Swift or anything — you need to ensure that it’s working perfectly fine in accordance to the market standards.
- Testing of the Trading App in UAE Nothing is incomplete without testing and you have a bunch of testing cases.
- Launch the Trading app in UAE The last step involved within trading app development is making the app live, and building a marketing strategy which includes social media marketing, content marketing and paid marketing to bring in organic leads and convert them into potential customers.
You need to identify the type of traders you wish to connect with in future and who are your direct competitors within the city.
You will have to determine the trading instruments and market contributions with the key features that should be embedded within the trading app in UAE.
Don’t forget to decide the revenue stream like which model you will follow for the trading app in UAE before you make it live on the App Store.
You can even share a functional prototype with the clients for better consideration & they can test the app’s workflow with working to see how it performs and what the developer has done so far.
You can choose the frameworks like React, Flutter, Angular along with libraries like TradingView, Highchart and others for the app development.
Always keep an eye on the market standards and trends when it comes to using trending app technologies for trading app development in the UAE.
You can also select and document the database that you are going to use to store the data.
White box testing for the backend development whereas, black box testing for frontend & unit testing for checking each and every module of the application.
Ensure that you have built the core features of the trading app in UAE like order execution, risk management and position tracking before you push or submit the app for testing.
A pro tip — you can add additional features like real time data analysis, market trends analysis, and technical market data overview to know what’s happening there.
How does a trading app in UAE make money?
There are different monetization strategies required by the companies to build an interactive trading app in the UAE & turn it into a million dollars app.
By using the right monetization strategies, you can make your stock trading app revenue-driven and different business models will be used.
- Interest — The first strategy is the interest one where Robinhood collects interest from uninvested funds on customers’ balances and gets heavily criticized because of that.
- Premium Subscription — It’s the most used model and a lot of apps use this strategy to generate revenue from their apps. Robinhood offers their users a Robinhood Gold account. For $2,000 on your balance, you get access to extra stocks, margins, and extended hours of trading.
- Fee Per Trade — Another model that can make your trading app a million dollar business is charging a small fee for every transaction made, and in this way you can generate a lot without even putting any burden on the user’s pockets.
Yes, users pay extra for it — it’s like when a bank collects interest from your cash deposit on the amount you have.
Wrapping Up
And we are done for the day. We hope you all enjoyed reading about the core steps involved within design and development by web design in Dubai of the trading app in UAE.However, if you think we have missed something within the blog, then feel free to share your thoughts in the comments section.
FAQs
- How much does a trading app cost in the UAE? The costing for trading app development in UAE starts from $15,000 to $20,000 or more depending on the type of app.
- Can you build your own trading app? It is a process of designing, ideating, testing, and developing a new trading system. Launching a new platform can take one to several months, depending on the scope of work, timing, and budget.
- Can AI replace trading apps? Not really! AI has not fully replaced human traders – and likely never will.
