We all know about stock trading even if we are not involved in it. We read and listen about it in the news and know that it lays an impact on our economy even if we do not understand how it works. Today, technology has enabled us to indulge in this niche and to make the most of it. This becomes possible with the help of a stock exchange software, with this particular tool, we can access the stock markets to buy and sell shares and other securities. But before we try to understand a stock trading software, let us be clear about the basics.
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Stock Exchange for the uninitiated
In easy words, it is a marketplace (physical or digital) where you can buy and sell shares of different public limited companies that are listed in the exchange. We all know the names of some big stock exchanges like the New York Stock Exchange, London Stock Exchange, Hong Kong Stock Exchange, NASDAQ, and various others. Here, a large number of traders or investors gather to buy and sell shares of different companies in the world. By doing that, you also get minuscule ownership of the company and according to the price of the scrip, you make profits or losses.
Stock Exchange software in a nutshell
It is a digital program that could work on your desktop, laptop, smartphone and allows you to buy shares, stock, commodities, and derivatives as well. Using this platform, you can access the international stock markets and buy/sell things very easily. Furthermore, you can have it developed for yourself and multiple individuals if you run a company that offers stock brokerage solutions. There is a lot more than just buying and selling that you can do using this application. You can also get information about the global markets and activities that impact the rise or decline in the price of a particular stock option.
Why should you use software for buying/selling stock?
For multiple reasons, buying and selling a stock is not just easier through software, it is always safer and much more efficient. We have been dealing third party websites or agencies that take care of the stocks for us and the results have never been satisfactory to the hilt. Moreover, they charge a sizable amount of money for their services and never assure profits. It has happened with many traders that they had to pay a fee to their brokers even when they were bearing losses. Stock exchange software gives a resolution to all these problems enables you to take control of your trading without any assistance. Using this application, you get access to all-inclusive solutions that never let you down.
Also Read: What is a Stock Trading App Development Company?
This program has emerged as a one-stop solution for every trader whether they are new to trading or sophisticated. Not only you access the international markets with such a program, but you also get better results for every single activity that you have to perform for keeping the liquidity high. You also get regular updates about the world of business across the globe so you could plan your next move and avoid the volatility of the markets. You can plan the buying and selling of the shares of a particular company after knowing what it is planning to do in the future and what could be the result of its revenue. With the help of a robust exchange app, you can surely get some great results without taking any external help.
Features that make the Stock Exchange Software a must for every trader
A stock exchange software comes with multiple features to make trading easier, safer, and more lucrative. Before starting to use any particular software, you must make sure that it has the following features:-
1. Registration
This is the very process through which every user must go through, but it should not be very painstaking or time-consuming for the user. With the help of biometrics and other methods, this could be very quick and easy.
2. User Profile
Building a profile is the next step after the verification and just like the previous one, it should also be seamless. While going through this one, users have to provide personal data such as email, phone number, date of birth, etc.
3. Deposit and Withdraw
Once you start trading, you will have to deposit money in your account in order to buy stock and withdraw it easily. Therefore, this feature must be integrated using the most prolific methods.
4. Monitoring of Funds
The users must be able to monitor the flow of funds in their account and there has to be a robust mechanism present in the software you intend to use for trading.
5. Buy/Sell
The most basic feature which would anyways get, but you need to be positive about its performance.
6. Search
There are times when you have to search about a particular stock option and that’s when this feature comes handy. You have to be sure about the precision of the results in terms of price and other details.
7. Stop Loss
This particular feature automatically stops buying or selling your shares after the price reaches a predetermined value that you decide. It has been remarkable in saving plenty of traders from bearing losses.
8. Analytics
The software should be able to analyze the statistics of the market before advising the next move this feature helps you achieve that, it helps you in making decisions and avoiding risks that prevail in every market.
9. History and KYC
Several other applications come with this feature as it is important for the user to know what precisely is happening in the app. KYC is mandatory and it matters especially when it comes to dealing with assets.
10. Ledger
Maintaining a ledger is one of the most important activities in trade, therefore, this should also be a key feature in your software.
11. Holding
Keeping your holdings safe is a major task for every trader and this is another feature that is pivotal for lucrative trading.
12. Push Notifications
- Whenever you make a transaction, you get a notification that shows every detail about the former.
- Advantages of using a Stock Exchange Software
- Access to liquidity solutions and stock markets globally.
- Brings ease into research and analysis.
- It comes equipped with a simple interface and a secure mechanism.
- Easy to customize and user-friendly.
- Compatible with desktop as well as handheld devices.
- Real-time updates and notifications.
- Makes switching between different stock markets easier.
- Stable and feasible for most users.
5 best stock trading platforms
1. Robinhood
It is considered the best stock trading app based on reviews and a large number of users. However, the app does not let the traders access mutual funds that have emerged as the best investment option for traders of all ilks. But if you are just into securities, shared, or ETFs, this platform is a great option for you.
Robinhood primarily focuses on stock trading and has made its application suitable for all the features and tools. It equips with all the valuable attributes that make trading simpler and more reliable for the users. It makes access to stock options easier and helps you trade without paying any sort of fee or commission. You also get an option to upgrade the account and access margin trading along with extended hours at a small additional cost.
2. E-Trade
E-trade is considered a pioneer in online investing by many. It is one of the companies that started offering trading services using the internet, it still remains one of the major service providers of this domain with a broad spectrum of features. It has helped in the mass adaption of e-trade in America and many other developed nations.
The app is available on both the Android and iOS both, it emphasizes on making the trade easier with an engaging platform that keeps you invested. It also allows you to make the most of technology and provides valuable information to the traders.
3. Stockpile
Stockpile makes itself unique with a marginal fee and a set of conducive features that make trading effective. It allows its users to enjoy long trading sessions without any disruption and gives you maximum leverage using the inputs. It also lets the users make the most of their investment by keeping them one-step ahead always. With this app, you can certainly become a smart trader and make potential profits.
It takes the services a level ahead and allows its users to give stock to their loved ones as a gift. With Stockpile, you can bring efficacy, safety, and efficacy into your trading, it also allows you to streamline every stage of trading.
4. Ameritrade
Known as one of the largest brokerage firms, Ameritrade has established a special place for itself with various features and services. It allows users to integrate third-party apps for making the trade better.
Its overarching platform has enabled millions of traders to take the experience of trading to a whole new level. It has empowered many investors with qualitative service and accoutered its service with groundbreaking solutions. For smartphone users, it provides a suitable interface and allows them to enhance the profits using various methods.
5. Acorns
It is a perfect platform for beginners in stock trading, it provides an easy interface and various features with which you can attain a greater understanding of stocks. In other words, it has been quite educational for a large number of users and has helped several traders get the better of the most complicated challenges. With this app, you can achieve many feats in stock trading and maintain high liquidity as well.
Upshot
The number of people taking interest in stock trading is increasing and with the growing number of smartphone users, there are now many opportunities for entrepreneurs who want to make stock brokerage services with an app. Technoloader gives you great results when it comes to application development and we can get a bespoke stock exchange software. If you want to make a mark in this domain and looking for an appropriate vehicle, then we can give you that at a very affordable cost.
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