How Much Does It Cost To Build A Trading App Like EToro?

The fintech sector is changing quickly and trading apps like eToro are changing how individuals invest in stock, forex and cryptocurrencies. Entrepreneurs and businesses have recognized this trend and are curious about how they can develop similar trading apps to take advantage of what's becoming a large and lucrative market. One of the first questions that often comes up when developing an app like eToro is “What does it cost to build a trading app like eToro?” The price will vary depending on several factors: the features you want, the design of the app, what platforms you need it to work on, how secure you need it to be, and, in the case of a fintech company, the rules and regulations set forth by the government. It’s vital to have a handle on these questions in order to begin estimating your potential budget, and planning for return on your investment in the app. In this blog, we will unpack and discuss the main considerations, costs, and essential features, as well as things to think about as you plan your app development. At the end of this article, you will have a better idea of what you can expect when it comes to deciding on a cost versus your ambitious plans for innovation into your eToro trading app.

Why Build A Trading App Like Etoro?

Trading apps like eToro have completely changed the way consumers can invest in stocks, commodities, and cryptocurrencies in today’s digital-first financial ecosystem. For entrepreneurs and Fintech companies, creating a similar trading app can make a great deal of sense financially. Here are five reasons to develop a trading app like eToro for yourself.

1. Online Trading Is In Demand

The demand for trading apps in the era of fast online trading apps is growing quickly. Many new investors today prefer accessible, "anytime" access, and real-time brands to digital global investing. As millions adopt trading applications every year and join the sizable number of investors already using these apps, a platform like eToro would stand to gain millions of new users as well. 

2. Social Trading Trend

One of eToro's most enticing features is their copy trading capability allowing merchants to imitate the actions of experienced traders. By establishing and promptly offering social trading to new apps, eToro can offer an entertaining, community-type experience that would draw in novice and seasoned investors. 

3. Generating Revenue Opportunities

Best fintech apps earn money in several different ways that include commission, spread, premium accounts, and subscriptions. With so many new retail investors, developing a new app similar to eToro would create several revenue opportunities for any fintech endeavor. 

4. Access And Inclusive Finance

By providing a Trading app development, people already interested in investing will be given direct access to financial markets that they may not be able to access through a brokerage account. As users are simplified to invest, the start-up could be promoting access and inclusive finance to underserved classes. 

5. Building The Competitive Advantage

If a consumer/advisor trading app is similar to eToro, they will be on the leading edge of fintech. With state-of-the-art software from an AI, blockchain, or robo-advisor feature, they would offer several differentiators in the market. 

What Does It Cost To Build A Social Trading App Like Etoro?

Building the best and relevant social trading app like eToro should be an eyed opportunity to invest with a booming fintech business. The cost to develop a trading app like eToro is usually in the range of $60,000 to $250,000 or more, depending on complexity, features, and the technology stack. While that can seem significant, the possible returns and engagement justify the investment.

The primary factors in the overall cost to build a trading app like eToro are:

1. App Features & Functionality

Mobile app development cost is based directly on the features you want to add. Basic trading features are generally not expensive, but when you begin adding engaging or advanced features, like social trading, AI analytics, robo-advisors, and real-time data feeds, you'll see the budget can readily rise.

2. Technology

Is it for iOS, Android, or web? It's better to consider the resources necessary to build for all of those platforms; each one multiplies most costs. A cross-platform solution would be most cost-effective. The performance of native apps is better, but costs more.

3. UI/UX Design

A Etoro like mobile trading app development will need to be easy to use, secure, and visually interesting. The more unique and engaging the user interface (UI) and user experience (UX) design are, the costs will begin to add up, too.

4. Security & Compliance 

Financial apps deal with financial user data and will be providing real-time transactions. This means strong encryption, considering compliance (GDPR, SEC, FCA, etc.), and payment gateways also increase development costs.

5. Development Team Geography & Experts

Hiring a fintech app development company in jurisdictional areas like the US and Europe will be far more expensive than if you chose Asia. If you decide to try to find some expertise in fintech or blockchain/AI, there will be a premium alone on hourly rates.

The total cost to build an app like etoro may range to a great extent. However, if you hire fintech software developers, you can minimize the trade-off between your budget and innovation. High-caliber features that are secure and scalable will allow your app to ascend to the next tier when the time comes to see returns on your investment in a niche market.

Essential Features Of a Trading App Like Etoro

1. User Registration & KYC Verification 

Creating a safe onboarding environment that includes verification of identity is a foundational step your trading app should include for it to comply with financial regulations. This not only builds trust by preventing fraudulent users from entering the AI in fintech, but also enables a trustworthy user access to personalized trading space. 

2. Real-Time Market Data

Having access to live stock, forex, and cryptocurrency prices is vital to any trading application, so users can feel comfortable and confident making informed buy or sell decisions in the marketplace at that moment in time. Furthermore, real-time data allows for accurate, transparent engagement with market price fluctuations. 

3. Social & Copy Trading

Including the ability for novice or beginner traders to see what trades expert traders are following and allow users to copy those trades of expert traders allows users to build confidence in the trading process, allows for community engagement, and creates a comfortable entry into the world of investing for new investors. 

4. Portfolio Management 

Having ability to manage a portfolio and track investments, profits, or analyses thereof is necessary for users to manage assets effectively and enable traders to make informed decisions, oversee diversification of assets, and contribute to better financial planning in real-time. 

5. Multi-Asset Support

Allowing users to trade stocks, forex, commodities, or ETFs, and cryptocurrency in one application engages a wider array of traders and view trading experience as entertaining whilst also increasing their usage by being able to engage with a more extensive assortment of investments in order to truly diminish the risk. 

6. Advanced Charting & Analytics

Interactive charts, technical indicators, and artificial intelligence-based analytics aid in more sophisticated analysis, helping traders to assess trends, predict results, and optimize their trading strategies.

7. Secure Payments/Withdraws

The etoro trading app is seamlessly integrated with banking accounts, digital wallets, and multiple currencies to enable safe deposits and fast withdrawals. Strong encryption creates trust with users and enables transactions to flow freely.

8. Push Notifications/Alerts

Traders are kept up to date on fluctuations in the market at their fingertips, through customizable alerts and notifications, so that they can be aware of market changes, price drops, or profit taking opportunities. Traders will not miss an important event or trading opportunity.

9. Regulatory Compliance/Security

Robust data encryption and two-factor authentication for compliance with GDPR/ SEC or FCA supports credibility of the etoro similar apps. Security protects user data and user transactions which engage users to trust the site.

10. Customer Support/Chatbot Support

24 / 7 multilingual customer support and support of AI Chatbots offers increased satisfaction of support. Issues are dealt with quickly, new traders can calculate a path to success and loyalty is earned through available, instant assistance.

Top Trading Apps Like Etoro

1. Robinhood

Robinhood is a commission trading app made popular for beginning traders. The app offers stocks, ETFs, and cryptocurrencies to trade on as well as an easy use/integrated interface. The popularity of Robinhood is that it is aimed at simplicity and no-fee discretion which allows a vast amount of retail trade into financial markets. 

2. Plus500

Plus500 is an easy-to-use CFD trading app that trades in forex, stocks, commodities, ETFs and crypto. Plus500 has advanced risk management tools, and commissions are not charged on trades, including real-time charts. New traders and more advanced traders will be enamored by the simplicity of this stock trading app like Etoro development.

3. TD Ameritrade

TD Ameritrade gives a powerful trading experience, with advanced tools, market details, and a lot of educational resources. Its eToro clone app development, Thinkorswim, is popular for advanced charting, stock analysis, and options trading, and ideal for active traders.

4. Interactive Brokers

Interactive Brokers gives the tools and experience of a professional-grade platform to trade an entire portfolio globally: stocks, forex, bonds and many funds. Its reputation is built on low fees and advanced research tools. It's a great match for experienced investors who want to trade internationally.

5. AvaTrade

AvaTrade is focused on trading forex and CFDs, with the addition of copy trading and risk management tools. Apps like etoro are available for mobile and desktop support. The educational resources invite different traders that want to expand into asset classes.

6. Fidelity Investments

Fidelity supports trading stocks, ETFs and retirement planning tools. It is notorious for its research support and reports, low-cost trading, and trusted services. Fidelity is ideal for traditional investors who want portfolio diversification and long-term capacity to manage wealth.

7. IG Trading

IG Trading is a world leader in forex and CFD trading, trading thousands of markets in multiple ways. There is a strong regulation to IG, with advanced charting capabilities.

8. Binance

Binance is the largest cryptocurrency exchange in the world. It has spot, futures, and margin trading. With more than hundreds of crypto pairs, low fees, and advanced tools, it has become a great option for crypto investors.

9. Saxo Bank

Saxo Bank offers access to a global market starting from forex, bonds, stocks, and derivatives. Due to its professional trading tools and research-based platform, Saxo Bank is popular with professional traders, who are looking for a premium trading experience.

10. Webull

Webull is a commission-free trading etoro like app development that offers stocks, ETFs, and crypto. Offering features such as real-time charts, market news, and paper trading, Webull is a great choice for active retail traders looking for a modern investing experience, focusing on mobile.

How Can Img Global Infotech Help You Build A Trading App?

IMG Global Infotech is a trading app development company that builds secure, scalable, and user-friendly etoro copy trading apps to meet your business needs. We create fully integrated trading apps that complement your real-time market, portfolio management, social trading, AI-based analytics, security, and compliance needs all from a secure platform. We have a depth of fintech experience developing cross-platform apps that promote user-engagement and generate revenue. We can build you a competitive trading web app like eToro, by combining innovative technology with streamlined design, that provides long-term growth and development.

 

Conclusion

Creating a trading application similar to eToro is an exciting opportunity in the current rapidly growing fintech landscape. As you can imagine, the cost will vary depending on the features you want included, design considerations, security, and compliance features. Regardless of the cost, a trading app will be an investment that will provide a long-term upside for growth and revenue. You can maximize the benefits from the best etoro Ewallet app development team that can tradeoff cost with innovative design, while deploying a secure app that enhances the user experience, coupled with the features you want. IMG Global Infotech can help you build a scalable etoro mobile app that is ready for future additions and that can power your investors and position your company uniquely within the global trading ecosystem.