How to Create a Stock App Like TD Ameritrade Mobile App: A Comprehensive Guide

Today, online trading applications allow you to easily access the stock market from home. The growth of online trading has reduced the stress and anxiety of traditional trading in greater measure.

With the advent of digitalization and technology, traditional trading methods are now being replaced by online trading applications. Many stock trading firms are drawing customers in by creating mobile apps; one such application that stands out is TD Ameritrade.

Every detail counts at each step in developing an app for trading stocks, so it is vitally important that you choose only a reliable mobile app development company to work on your application.

This guide provides all the essential elements required for developing stock trading apps like TD Ameritrade, from features designed to improve user engagement to legal requirements and best practices designed to create an enjoyable, user-friendly interface for novice and pro investors alike.

TD Ameritrade Mobile App: Overview

Before we discuss the technical aspects of the TD Ameritrade Mobile App, let’s learn a little about its background.

Omaha Securities Inc., a small bank investment company, opened in 1975. 77 years later, the company was named TD Ameritrade. Today, TD Ameritrade has 120 branches and offices throughout the USA and is one of the biggest online brokerages in the USA.

TD Ameritrade caters to the requirements of beginners and active traders of all levels. It offers an excellent platform that does not charge commissions on stocks traded online. It also offers other free tools, ETF trades, and a huge range of mutual funds.

When you use an app like TD Ameritrade, you can access many services without commission fees. This is a win-win situation for all traders, whether active or amateur.

Various Types of Stock Trading Apps in the Market

Various choices are available if you’re looking to create an app like TD Ameritrade to trade stocks. We’ll look at the most obvious options you’ll encounter when deciding to set up an online trading platform.

Trading Software by Platform

Based on the target market’s preferences, you can design trading apps for mobile and desktop platforms; alternatively, desktop software can be a viable option. Mobile trading apps could look and feel different on tablets, smartphones, and smartwatches.

Certain of the major market players have the most platforms possible. For instance, take an app like the Fidelity trading app. It’s not only an app available for iPhone as well as Android phones. The company has invested a lot in the trading mobile application development. Customers have access to their products through:

• Apple TV and Apple Watch
• iPad and the Kindle Fire
• Google Assistant and Amazon Alexa
• mobile web

You do not have to include all platforms in your plans to create a trading application; however, you should be aware of your audience’s preferences.

Mobile Investing Applications

Mobile apps are now the most preferred option for individual investors due to their ease and accessibility. They provide real-time market data and a user-friendly interface, enabling investors to manage their investments easily from anywhere.

They usually have push notifications that provide immediate news about market volatility, a custom dashboard for tracking stocks that you like, and educational content for beginners. Examples include Robinhood, E*TRADE, and Fidelity’s mobile apps, which offer a wide variety of functions for investors considering buying and selling stocks, monitoring their investment portfolios, and conducting research via their mobile phones.

Web Platforms 

Web-based platforms, on the other hand, offer a greater range of tools and advanced features ideal for professional and individual traders. They typically have more sophisticated charting tools, can handle greater amounts of data, and frequently come with advanced features like live news streams in real-time and analytical tools for technical trading.

Some examples include the TD Ameritrade online platform and E*Trade’s Web application. The platforms are accessible from every computer with internet access, making them relatively flexible.

Desktop-Based Investing Software 

Applications for desktops are the preferred platform for professionals who trade and invest. They offer the most extensive range of trading tools and capabilities, including sophisticated analysis and charting tools, automated trading systems, and advanced types of orders.

They typically offer subscription-based services that provide premium information and features to serious traders. A good example of a platform is Bloomberg Terminal, which provides numerous data sources, news, and analytical tools used by professional traders to make decisions. The Bloomberg Terminal is also known for its messaging system, which allows for communications with Bloomberg users.

Day Trading vs. Investment

Another notable feature of these applications is that a few are better suited to day trading, while others are designed to invest in the long run.

Certain trading apps, such as M1 Finance, do not permit traders to exchange the stock once a day, which makes trading on the market during the day practically impossible. Instead, they can pick these apps to invest in.

Apps like TD Ameritrade or E*TRADE are excellent for trading during the day and also includes features that you would expect from user-friendly applications designed for long-term investments. Be aware of your client’s requirements when creating an app for stock. For example, consider the possibility of commission-free trading or shorter-term e-trade options based on precious metals.

Education Vs. Investors who are novice

Additionally, certain mobile trading platforms are suitable for beginners. These are apps such as Acorns, Stash, or Robinhood. On the other hand, more sophisticated platforms, such as Ameritrade or Power E*TRADE will require some time to master.

The features you’d expect from trading apps targeted at novices include a wealth of instructional resources and basic robotic advisors. However, professional investment apps are focused on offering more advanced options, such as custom-designed and four-legged spreads. Check that your account is set up for this when creating a stock app.

Must-Have Features to be Included in Stock Apps like TD Ameritrade

What are the most important features that consumers expect from a top trading app like TD Ameritrade? It is essential to provide something special for them to change their minds or begin their journey to investing using your service. But what minimum must you consider when developing a stock trading platform that will pique the interest of your customers?

Easy and Quick Navigation

The most notable and unique feature of the TD Ameritrade Mobile App is its ease of use, which has contributed so greatly to its increasing popularity. The application’s user-friendly and easy navigation ensures that even the most novice can use it to trade quickly and effectively.

The simple navigation and sleek layout of their web-based platform and mobile app make it easier for users to access the platform.

Authorization

To invest, you’ll have to allow people into your business, right? The simplest way to do this is to activate any bio authentication method available on the phones you’re trying to target: Fade ID, Touch ID, or their counterparts for Android phones. Additionally, you should include two-factor authentication (via the phone number or email address or an app for auth) to increase security and greater protection of data from the user.

However, you’ll also want to gather user information to create their profile on the backend. This can aid you in devising the most efficient strategies to get them to invest more frequently, etc. One method to achieve this is by looking at their social media profiles and permitting them to log in with their Facebook and other accounts.

Plaid API Integration

One of the most important aspects of onboarding an investment app like TD Ameritrade is adding users’ bank accounts. This can be done through integration with Plaid API. It has already evolved into an actual method of connecting bank accounts to fintech applications.

Profile

User profiles are where you constantly sweep away any extra stuff that doesn’t need to be in the spotlight at all times:

• Trading historiography
• Configurations and subscriptions (if there are any)
• Assistance

Home Screen

Users require a home screen or dashboard to see the amount they’ve invested and whether their investments are growing.

It’s also a good opportunity to demonstrate the securities and stocks they hold and their buying capacity, i.e., a money account for buying stocks.

Informed Research Investment

It’s not an easy task to trade. Even the most experienced traders have had huge drops from time to moment. But, it appears like it’s a fast and effective method of growing your wealth. However, it’s extremely uncertain and risky.

Traders will receive optimized live real-time updates without needing other data. In addition, you have access to fundamental information, market data, and even news. You can get third-party research on TipRanks with analyst price targets and Smart Score Ratings to put a cherry on top.

Therefore, using the research Investment option, users can learn about the stock market and invest their money wisely at a low risk. This feature is useful even for the most experienced investors.

Robo-Advisor

The most basic robotic advisors are surveys that employ simple algorithms to analyze the user’s investor profile and recommend the appropriate investment options. Some trading applications can even add human advisors; however, an initial mini robo-advisor is all you need to be sufficient at first.

Trading

The primary feature of any investment software is the capability to trade or purchase an investment stock. The users expect to view a line or candlestick chart of a particular stock and read the company’s information and any other pertinent information.

Newsfeed and Social Feed

The news feed is where users get news about market events relevant to their stocks. Additionally, we could integrate a social feed with comments from other users or portfolios of investment and other information. In effect, we can turn our trading application into a social investing experience, making a trading platform more appealing to newcomers.

Objective Tools & Research for Trading

As we mentioned earlier, the trading process is multi-layered. Therefore, successful online trading requires many reliable tools and knowledge. An app like TD Ameritrade is packed with these tools, which are objectively designed to make your internet education experience smooth and easy.

These objective tools and research are available for free to confirm your theories, thereby fueling those trading techniques.

Traders can benefit from valuable information by conducting basic research and technical analysis through MarketEdge and CFRA. These are free tools to control your portfolios efficiently. Additionally, you can evaluate the investment you want to make using their retirement planner and meet your retirement objectives.

Search and Filters

Users need a powerful and efficient search engine for stocks and options. A good search tool will know that a user might be looking for a particular stock with the name of a company but not necessarily the symbol they use.

Favorites and Stock Discovery Pane

Another major area to envision when developing market applications, such as TD Ameritrade, is analytics and groups of stocks based on the trend, what’s stable, etc. Users can easily add stock as a favorite and then review it later.

Notifications

Typically, you will receive push notifications from trading apps such as TD Ameritrade that deal with stock price tracking or be triggered when a buy/sell transaction is complete.

Trading 101

Many modern investment apps, such as TD Ameritrade, choose to include educational materials right inside the application. Users who are new to the app can watch video clips, browse blogs, and even test their knowledge by answering questions.

Alerts

The main characteristic of any stock trading application is the regular, on-time market update. Stock market prices are highly unpredictable in nature. Stock prices are updated every minute.

So, now, with an app like TD Ameritrade, you can monitor the price of stocks and the volume, ratings, and volumes of the positions you are watching in the Watch List tab. You can also keep track of the stock market by activating the push notifications feature.

This feature of the TD Ameritrade Mobile app and the web-based platform enables you to monitor the market continuously.

Top Alternatives of TD Ameritrade Stock Trading App

Looking for other alternatives for TD Ameritrade? Check out the trading Platforms TD Ameritrade users also thought about when they made a purchasing decision. When looking at various solutions, prospective buyers must compare their competencies across categories like the evaluation of contracts, integration and deployment, support and service, and the specific features of each product.

Since there are many choices, picking the right broker can be difficult. Competition has forced many brokers to offer free services for the exchange of assets regularly. When comparing platforms, investors will find significant differences in usability in terms of the technology used to trade accounts, features for customers, and many other features.

SoFi Invest

As with other discount brokers, SoFi allows you to trade ETFs and stocks commission-free. There are also no minimum account balances required to start. SoFi also has an automated investment account, also known as a robo-advisor, which has no annual management fees and a minimum investment of $1. We mentioned that those who choose to use TD Ameritrade through the integration will have to pay a fee of $5,000 to access Charles Schwab’s robo-advisory services.

Although SoFi isn’t as good in the area of investment options as TD Ameritrade, it is true that SoFi does not provide options for futures trading, options exchanges, mutual funds, or forex. However, it does provide the possibility of trading in cryptocurrency, which TD doesn’t. SoFi investors can purchase and trade Bitcoin, Ethereum, and over 20 other coins for $10.

Robinhood

While commission-free trading is not uncommon, there’s a reason why investors are sticking with Robinhood: It’s easy. Instant deposits provide investors with instant funds to invest, while fractional shares permit investors to buy crypto and stocks for just $1. To put it in perspective, 22.8 million people were using Robinhood in spring 2022, compared with TD Ameritrade’s 11.5 million.

Anyone looking to invest in margins, as well as more detailed research and Level II market information, can join Robinhood Gold for $5 per month. However, active traders will not find the most sophisticated research tools, including advanced screeners for stocks and charting. Investors won’t have access to securities such as Forex, mutual funds, or precious metals.

Fidelity Investments

Even though apps like TD Ameritrade offer numerous low-cost funds, Fidelity Investments takes the extra step by providing various no-cost ratios and no-minimum index funds. Fidelity also offers fractional share trading, which TD Ameritrade customers won’t get until they transfer their accounts to Charles Schwab. But, unlike TD Ameritrade, Fidelity doesn’t provide direct access to cryptocurrency.

Fidelity customers can invest themselves or open an account through Fidelity Go, the firm’s automated advisor. TD Ameritrade clients will be able to access Schwab’s robot advisor following the merger. However, it requires a minimum $5,000 deposit. Fidelity Go allows you to begin with just $10, and the management charge will be waived for accounts with less than $10,000.

Interactive Brokers

IB offers a wide range of cutting-edge investment and research tools, making it an excellent option for experienced investors and traders who want to broaden their portfolios. It also allows you to place over 100 orders and utilize sophisticated trading algorithms.

CSFB Crossfinder+, for instance, tracks liquidity across brokers and independent dark pools while also offering the ability to cross continuously. According to the website, CrossFinder+ will spread your order among multiple locations and fill to the middle or higher.

Vanguard

As a pioneer in low-cost investment, Vanguard is an ideal option for a buy-and-hold investor. However, active traders benefit from stock trading commission-free.
People saving for retirement can choose from more than 160 mutual funds offered by Vanguard and other firms and hundreds of ETFs with no commissions. Passive investors can use Vanguard’s digital advisor after their accounts reach $3000. Long-term investors with a 401(k) retirement plan can sign up for the service with just $5. Vanguard charges 0.20 percent in advisory charges for its robo-advisory service.

Steps to Build an App Like TD Ameritrade

Numerous features help make a stock trading app profitable. Without these features and tools, an app for stock trading is nearly unfinished. We have compiled an overview of the steps needed to develop the stock trading application.

Choosing the Right Platform

If you plan to develop an app like TD Ameritrade, the best platform for your app should be traditional-oriented. Traditional-oriented platforms deal with actual assets such as ETFs, Currencies, Metals, etc.

Choosing the Software Type

The next step after deciding on the best platform is to select the correct type of software for your stock trading application. There are various types of software available in the market. The kind of software you select for your app to trade stocks depends entirely on the intended platform your app will be running on.

UI/UX Development

One less appreciated element of mobile application development is its UX/UI graphics. Because it is the component of the app that users see, it is crucial that the images of your app are attractive to users.

Additionally, it is recommended to keep your graphics minimal and simple. This will ensure that the app is simple to navigate and use. Additionally, you should avoid using large, complex graphs and charts to display information. Make the information brief and concise.

API Integration

Without API Integration, traders cannot connect their bank accounts to their stock apps, making the stock apps ineffective for trading. Therefore, it is essential to incorporate an Application Programming Interface in your stock trading application.

License Approval

You must get an appropriate license to open a trading app in any country. You cannot trade within that country if you don’t have a valid license. Also, it can be quite costly to get a license.

Vigorous Testing

The final and most crucial aspect of creating your trading application is to test it thoroughly. Without testing your application, you are not in a position to fix any small or major issues.

It is essential to ensure that your application is completely free of bugs. Additionally, ensure that it’s very secure and safe to use since it’s the money we’re dealing with.

Regular testing can enhance the efficiency of your application, boosting your business and expanding your customer base.

Cost of Developing an App Like TD Ameritrade

Another important issue that people ask when considering developing their own mobile application is the price. However, to address this issue, we need to consider a number of other elements.

These factors include the geographical location of residence, target platform (Android and iOS), integrated technologies, and features. Hiring a mobile app development company in the USA or Canada is more expensive than hiring one in other countries. Also, if the target platform is combined with Android and Apple and you want to develop an app for both, the development price will be greater in this scenario. The more advanced functions you can get, the greater the development cost. However, you can consider choosing to react native to develop an app like TD Ameritrade and partnering with a react native app development company to reduce application development costs.

When you consider all of these factors, the cost to develop an efficient Stock Trading App with all the features will be around $30000.

Regulatory Compliance to Know Before Developing a Stock App Like TD Ameritrade

To market an application for trading or investing, the company has to be registered as a broker-dealer. Naturally, this involves the burden of regulatory compliance. If you plan to develop an app like TD Ameritrade, it is important to take into consideration:

• Know Your Customer (KYC)
• Anti-Money Laundering (AML)
• Customer Identification Programs (CIP)

Broker-dealers who work in custom-designed trading software development are subject to the supervision of the U.S. Securities and Exchange Commission (SEC) and self-regulatory organizations, such as FINRA (Financial Industries Regulation Authority).

Other self-regulated organizations comprise:

• MSRB (Municipal Securities Rulemaking Board)
• CBOE (Chicago Board Options Exchange)
• NFA (National Futures Association)

These acronyms are not frightening enough (although, regardless, we suggest you consult an attorney before getting started). Let’s look at what legal requirements you’ll have to follow to establish an online trading site. It is necessary to:

• Sign up with the SEC
• Join FINRA
• Join the Securities Investor Protection Corporation (SIPC)
• Follow the state’s rules for stockbrokers

This is only the beginning of the iceberg. As you will see, there is much documentation to handle before developing a stock trading application.

Why Choose Techugo for Your Stock Trading App Development?

Choosing Techugo to develop your stock trading app guarantees leveraging their expertise in financial technology and robust solutions tailored to market complexities. A mobile app development company in Canada like Techugo excels in combining real-time data, advanced algorithms, and stringent security measures like KYC/AML compliance. With a focus on intuitive UX/UI design and agile development, Techugo offers user-friendly interfaces and continuous maintenance and update support, ensuring your app remains competitive and compliant post-launch. Partnering with Techugo means collaborating with a team committed to delivering a cutting-edge stock trading platform aligned with your business objectives and user needs.

The Key Takeaway

In the new millennial age, a stock trading app like TD Ameritrade will become the leading apps. Investment decisions of major importance will also be made through these apps.

In addition, it is important to choose the correct platform for your application. The next step is to select the correct type of software for your stock trading application. It is then important to ensure that your application is Integrated and user-friendly.

You now know the essential aspects of stock trading app development. Use this knowledge to your advantage by having your trading application developed.

Get in touch with us today to begin a journey towards digital transformation and excellence together.