Building Your Own Stock Trading Platform Like Robinhood: A Step-by-Step Guide
Do you know of any similar programs like Robinhood? If you want to learn more about it and how to build an app like Robinhood, you’ve come to the perfect spot.
People rely on e-trading platforms like Robinhood now that the internet’s stock trading business has developed.
As seen by the popularity of stock trading applications, investors prefer digital alternatives to stock market trading. Because these online stock trading and investing tactics are popular with novice investors, they are open to more than experienced investors.
It is tough to make two applications seem to be identical. With the support of well-known and future consumers, you may contact the greatest app developers in the world. They will provide vital, up-to-date knowledge on the most recent technology advancements.
What exactly does the “Robinhood app” do?
Robinhood is an online stock trading platform that allows anybody to begin trading stocks. Its purpose is to guarantee that everyone has equal access to financial resources. This software allows users to acquire stocks without paying a brokerage charge. People used to have to pay a lot of money to brokers when they bought and sold stocks the old-fashioned way.
Robinhood avoided the issue by not charging brokerage fees. Robinhood has removed superfluous costs and made it possible for those who have never traded before to do so. Users may choose from equities like Tesla, Apple, and Google. According to Robinhood, permitting customers to trade will benefit individual investors.
Why would a company consider developing stock trading software based on the Robinhood App?
Here are some data that distinguish Robinhood from other bitcoin trading apps:
- The Robinhood app generated $959 million in revenue in 2020, and despite a drop in the price of Gamestop shares, it expanded its holdings by $3.4 billion.
- 22.5 million more individuals will use the Robinhood app in 2021 than in 2020.
- By 2020, the Robinhood app will be valued at $11.7 billion. In 2021, it was valued at $20 billion.
- The average Robinhood account is worth $3,500, and the company’s assets total $80 billion.
- Robinhood’s average payment-for-order income in 2020 was $682 million, a 514 percent increase from the previous year.
- The Robinhood app industry is expected to be. Valued at $13.1 billion in 2019. It is expected to be valued at $18.3 billion by 2027.
What Is the Procedure for Creating a Robinhood Clone Script?
You may utilize Robinhood Clone app development without paying fees to create your own trading platform for stocks and other assets. This Robinhood Clone develops stock trading software that may be fully or partly customized and includes all of Robinhood’s primary features. It allows you to create a platform similar to Robinhood, which allows you to purchase and sell stocks for free.
How Can a Robinhood-style App Be Created?
It serves as the basis for third-party legal software such as Robinhoods. As a result, traders could be able to profit from their investments.
Consider how the company has grown and provides a free online trading and investment platform if you want to create a Robinhoods Clone for individual investors. You’ll see how effective the Robinhood clone script has grown.
What does it cost to create a Robinhood clone app?
Estimating the cost of launching an app like Robinhood is one of the most challenging tasks. Because the price fluctuates based on the customer’s desires, you can only forecast how much it generally costs to construct an app if you know how difficult web3 development is.
Considering everything, the average cost of developing a trading platform like Robinhoods would be between USD 20,000 and 25,000. Each platform may cost more than $35,000 USD. The program will become more sophisticated. And time-consuming as additional features are added.
Schedule a free consultation with a blockchain specialist to evaluate what features you want from an app. For your project, you should choose the top web3 development firm.
The following are some compelling reasons for launching an app like Robinhoods:
1.) No-commission trading: Robinhoods is well-known for enabling users to trade stocks for nothing. There are no fees for investors who utilize the site to purchase or sell bitcoins. Cryptocurrency trading is 100% free.
2.) The app on your phone is simple to use and understand: Transactions are generally finished fast when users use this website to purchase or sell something.
3.) There are no recurring fees: Investors may start with a modest number of shares and progressively increase their holdings until they have the same amount as everyone else.
4.) Dividend Reinvestment: A cash dividend is automatically reinvested in the shares from which it was earned as part of the payout reinvestment strategy.
5.) Bitcoin and fractional share trading: Because transaction costs are cheap, bitcoins and fractional shares may be traded.
7.) Regular investments and cash flow planning: The platform supports regular investments and cash management.
Even during the pandemic, only a tiny percentage of the many stock trading systems available were in use. Consider employing stock trading tools such as Robinhood to help your company expand. Since it popularized the concept of no-cost investing, Robinhoods is the most well-known e-trading site.