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Cyber industry is one of the most rapidly developing fields of the modern econom. Today, thanks for programming and the Internet we already have one of the most unbelievable and amazing things in our everyday life. For instance, we do not have to go to the restaurant and use the internet for making orders. we do not have to pay for calling someone living in a different place of the world, we can now use mobile telecommunication, thanks to Skype, and see our friends or relatives in the real time even being far-far away from all of them, moreover, we can now use virtual reality about which we have been dreaming for generation. However, that is only the beginning, and now, that octopus starts to occupy even such a secured and highly protected field as investments and stock markets.
That last point, which seems to be really surprising for common users became possible, thanks for Acorns investing app serves, which was created not so long time ago. What is actually Acorns? Acorns is a mobile application, which is providing you with all the necessary information for making any possible kind of investments and buying stocks and assets. Frankly speaking, it is a portable mobile robot, linked to the internet, which allows you to eliminate the role of broker or banker in the field of top financial deals and which makes it possible for you to make the deals directly in the easiest way you can imagine. Downstream in that article we will steadily reveal all the nuances and features of the work of such an incredible things as the Internet-based apps for investing. However, the key aim of an article is a bit more different. Due to the fact of a skyrocketing popularity of such Acorns, lots of different businessmen, economists and regular programmers are willing to create an investment app like acorns, but the main issue here is the fact, that they do not really know, how to make it, and I am willing to help you in solving that issue.
I consider, that it is pretty clear, that when we talk on such a serious topic as investments, it seems pretty obvious, that the whole process of their functioning is not the simplest one and is different from the structure of simple app games and ordering extensions. If you ar willing to create a mobile investment app, there is a great need in a proper analysis of the key features and principles of work of the similar platforms.
So, starting with the very basic things, it seems suitable to say, that the development of that really serious project may consist of several key parts. The first one is consultation, the second one is hiring a company, the third part is the establishment of of the key technical features and the last one is promotion. However, in that passage I will enlighten only the main principles of work for such an application and only then, later, present the clear and exhaustive explanation on the issue on how to develop an investment app.
First of all, that application connects your bank account to its system and then, basing on the data from it is analysing the market and presenting you the most bargaining deals and offers. Then investment application development acts actually like a thinking robot-analyser, which is able to absorb all the essential information not only from the bank account but also from your searching machines. Furthermore, there is also another pretty important feature of that application, which is similar to Acorns. It can predict more or less legitimate fluctuations on the market and, as a result, risings and failures of the stock prices. Then, the majority of those who a curios on how to use Acorns app are interested in the possibility of the offering to a user the most potentially successful stocks. Yes, that is true, but you have to keep in mind a simple economic term, that in case if lots of people have a huge amount of something, the price for that something will fall, and the same thing is with stocks. So, I am advising you not to believe that function completely. Besides, there is also another pretty vital thing, that we have to remember. Usually, in real life in case if you are willing to buy stocks you are dealing with brokers, who are actually not always fair enough. But in case of the usage of the investment applications, like Acorns, you become able to get an unbiased information on any stocks, bonds and assets, which are interesting for you in any possible field, from Shell petrol to McDonald’s.
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There are also several pretty interesting and good features of Acorns application, that made it so popular in a comparatively short period. First of all, as I highlighted earlier it is an unbiased cool-blooded analytics of the most important and vital flows of the market. Then, it presents you the most possible risks and create a simple plan of your actions. Moreover, it also acts as a robo-advisor, which makes it possible to use the Artificial Intelligence in order to earn money.
So, that is a simple algorithm, which describes in the most simple way, what is Acorns app and how does it work. However, now I am willing to give you a much more broad explanation on how is it possible to create a similar application on your own.
While considering the issue of the creation of such a pretty complicated thing as the investment application, it is pretty logical to conclude, that the structure of such a thing is not the most simple one. First of all, while talking on the creation of a special background system for the building of an application focused on the investments, we must take into consideration the fact, that here you need not only special knowledges, but also special software and technologies, which will allow you to achieve your goals.
So, while talking on the creation of a background development of the financial applicatio, let us first of all say, that it consists of several integral parts. First of all, the most essential thing to do is to create a server, which would be able to accept a trading robot. Thus, we are just creating a massive resource for the storage of that kind of soul of an applications, which would be able to make all the important accusations and mathematical operation for the achievement of certain goals.
Then, another important moment is the installation of a special software for proper operation of that server and the adequate process of the storage of all the information, due to the fact, that all the stuffs, which are saved there are going to be kept in a deep secret, because of its high level of importance. Moreover, you also have to implement special programming gateways into the server, which will allow you to send the data directly to the resources of the global market and only then get back all the needed information, absorb it and distribute. The last point is going to be done because of the fact, that a direct connection with the stock market and the access to all the information have only those people, who have a special license. That is why, those who play on stocks use brokers and do not do it on their own.
Another highly vital step is the implementation of the protocols and plugins, which will allow you to sort out that giant bunch of information. You may imagine that giant amount of data, that is going to be analysed on your server. Despite of the fact, that you application has to collect the information it is also obliged to make certain special calculations, that will make it possible to organize all the essential predictions for the users. Because of the fact, that it is not also energy-consumption, but also a really hard work, even for a computer you have to build that process on the usage of certain special softwares. One of the most useful are Betterment and Wealthfront. These extensions were built directly for the creation of a special product of analysis and may fit perfectly to the whole bunch of those equations, which are going to be made.
So, there is a presentation of a list of those must-haves without which it will be completely impossible to create a proper product and to make your idea come true. So, do not hesitate to implement all those softwares to the foundation of your investment application.
That field could be called the most complicated passage in the whole article. Here, I would like to show you the most important and the most vital technical features of an application, which would be focused on the creation of a safe and properly working investment ground.
First of all, the very basic thing, that you have to keep in mind is the fact, that such application is a thing for common people, who are not millionaires. I am pretty sure, that any person during his or her life was thinking on making the investments to the economics, buying and selling the bonds. So, now, they are able to do it. However, in order to make that idea real, it is important to implement several important additions. Then, there is a need to allow people to invest with small sumes, what will probably make the whole process much more simple and faster. After that, you have to take care of the creation of a proper process of withdrawing the finances, which were earned during that bargains and also make it possible for people to adjust as many credit cards to their account as only possible. Moreover, there is also an important thing, focused on the whole process of earning money. When you are thinking on how to make an app like acorns, try to make these operations pretty simple. For instance, you may create a function, when the margin will be collected on your private account after each deal. Making a long story short, let us imagine, that you are buying someone’s bonds for $4, however, next day they increased to $6. So, you may have a desire to sell them. And, those money, which were gained after the sai are going to be sent directly to your personal account.
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Moreover, there is also another vital technological feature, which plays an important role. You have to understand the difference between the Index Funds and Exchange Traded Funds. Simply speaking there are several drawbacks and benefits of these two types of funds, so, your user has to make a choice on his own, where better to trade. For example, in case if you are using an Index Fund, they are easier to trade, but costly to hold. Then, they are all traded via LISPs and are always priced once a day. Moreover, they are much better for switching and have a high level of security and safety for the beginning investors. However, in case if you are willing to chose a Exchange Traded Funds, you have to be ready to accept other circumstances. For instance, they all are priced throughout the day and are much less safer. They are cheaper to hold, but pretty complicated to trade, so you have to be a good professional in order to orientate in that space freely. Besides, these funds are directly those, which are ought to be traded though the brokers. Moreover, you have also take into account the two most widely used strategies of trading and finances counting, which are used in the world. They are: expenses averaging and rounding of the sums. Without these highly important technologies it is impossible to create an application, that will play a role of the mediator between you and the world stock market.
Now, let us go to a bit more exact field of discussion. Firs t thing here, which has to be managed is the creation of the proper level of safety. I really want to believe, that you understand the level of the importance of such a point. There are several pretty useful tips, that you have to keep in mind, while creating a secured space. First of all, the operations with your account have to be fully controlled. For example, the user will not be able to delete an account without connecting to the service center and providing agents there with a clear personal information on his identity, while only after that you will be able to delete or somehow edit your profile. Then, there are also several other things to remember. Then, there is even a list of those tools, that has to be implemented. Firstly, the most important thing, that has to be done is the application of a special SSL code and plugin, which will make it possible to protect all the data flows within an application and those connections, which exist between the market and an app. Secondly, try to create an additional secret world, that will act as a shield for all of the operation within an app and which will be impossible to destroy by the hackers. For instance, it could be based on the strategy of the all the the time changing passwords which are known only to the administrators and which act as the guardians of all the deals and transactions, which are held between the users and the trader in the market. Then, you will be also obliged to collect the private information from your users. For example, in order to hold the logging in process after the registration you have to ask for the user’s last four digits of his Social Security, Card Number and, for sure, his mobile phone. Furthermore, you also have to create a connection between the center and the user through the implementation of the verification code, which has to be sent via SMS to your mobile phone.
Another part of the process to create an app like acorns is the implementation of an account. For that purpose, as well as in case of security you have to ask for some special information on the user. First of all, ask him for his banking card number, that will be later applied as the main source of the connection between the user and the market. Moreover, it would be also really nice to ask him to provide a verified photo, that will act as one the main proofs of his/her identity.
Last, but not least, let us examine some investment options. Firstly, provide all the users with proper analytics and hire a professional team of developers, which would be able to adjust it perfectly and cope with all the bugs and errors. Furthermore, try to limit the amount of investments to give the users a bit more freedom. Then, implement a notification technology, that will make it easier for a users to see the good deals in the real time. Moreover, there are also several additional things to consider. For example, one of the main drawbacks of Acorns is the absence of good financial planner, while you are able to deal with that mistake within your app. It is so vital because of the fact, that sometimes people are not able to plan all of their expenditures, especially in case of bonds trading. So, a great idea may be to set a perfectly manufactured robot, that will make it possible to analyse all the expenditures and then base all the financial forecasts on the intentions of a user. Finally, pay an effort to organise a virtual simulator. The main point here is the fact, that the majority of your audience are not professionals, thus, there will be a need in a highly good tutorial, so do not hesitate to add it to your platform.
In case of the creation of such an application we have to forget about saving money for a minute. The main thing here is the fact, that because of the complexity of the whole project, you do not have to look after money with such a great passion, do not be afraid of spendings, because any serious mistake in a final product may lead to a collapse. Moreover, you have to look carefully for the main programmers and developers within a team because of the fact, that it is really important to have only top-notch professionals within a team in case of the creation of a pretty serious app. However, nobody said, that you cannot outsource the project and look for the good developers in Asia, especially in the financial centres of that beautiful continent. For example, you can find good and pretty cheap programmers in Singapore, Malaysia and India. But, the main aim is to look for them only in the very big and economically developed cities, despite Singapore of course (it is a highly developed city-state). The cost of Acorns-like app there, as usually depends on time. But the process for the time of work are pretty acceptable as for such a complicated job, from $50 to $70 per an hour, while in the West you may spend up to $200 per an hour, due to the level of specificity of a project.
Taking everything into consideration, I tried to give you a broad, but simple explanation on how to create investment apps for beginners. However, it does not mean, that it is the end, because of the fact, that this topic is not only a highly complicated and multi-sided one, but also because it is comparatively new. But, I really want to believe, that it was enough for you as for the first time and you were able to find a proper answer for the basic questions. Finally, it would be also suitable to say, that the evolvement of that field is just an issue of time. On the other hand, we do not know to which outcomes it may lead in the end. I am saying so because you may remember the words of the president of the JPMorgan Banks, which he said in 1928, When a newspaper boy knows more about stocks, than a good broker, the collapse is not far. Only a year remained before the Great Depression.
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