How to Develop a Stock Market Website – The Process
Before you decide to build your stock market website, you should ask yourself whether your business idea complies to a stock trading website or a stock market website. Also, you’ll have to think about how it would help if you develop a full-fledged cloud-based stock market/trading platform. FYI, web-based portals are more versatile and functional than static websites.
Know the Compliances For Your Niche
Every industry vertical has its specific as well as common regulatory compliances. FinTech compliances range among consumer protection, data security, money laundering, and many moresuch. Also, the regulation specifications are different for every political boundary.
Design the Stock Market Concept, User Journeys, and Experience
Based on the compliances, you can think about the functionalities and value that you will be offering to the investors and brokers. It will help if you rank the functionalities according to the importance.
After developing the concept, you’ll have to create different user journeys based on your assumption. There are several purposes why the user will use your website; you should know them and create separate user journeys for each use.
When you know how you want the user to interact with your stock market website, it’s time to design the wireframes and .psd. Don’t forget that investors and brokers are highly educated and have no time to waste. Therefore, it is crucial for you to design your stock market website with a minimalistic approach. You can consider the following factors while designing your stock market website:
It is beneficial to keep the user interface and experience in mind fromsince the beginning of your website idea. It will help you to be realistic in terms of potential software features.
When designs are ready, perform usability testing. This is the most important phase, where you’ll make sure that your website is in accordance with your initial plan.
It is important for you to guide the UI/UX designers as they might not have experience designing FinTech software solutions. Your feedback will help them understand that you require a minimalistic design with more focus on usability.
- Design Website/Portal Architecture and Develop the Website/portal.
Once you have the detailed requirements in your hand and the designs are ready, you can jump straight on developing your stock market website. If you’re unsure how to create a detailed requirement document, read the following article and come back: Create Product Requirement Document.
Every stock market website has three development stages – Build the Architecture, Back-end Development, and Front-end Development.
The architecture on which your stock market website is built, plays a crucial role in the entire system’s scalability and security. I will recommend you to do it on your own only if you have the expertise; otherwise, It is better to partner with a FinTech development company that knows how to create a stock trading platform.
Based on the decided architecture, the backend developers will integrate server technologies, manage the database, and develop software logic. The developers often use programming languages such as Java, PHP, Ruby, Python, Net, along Oracle and MySQL to enable smooth functioning of database and server. Back-end development takes care of sign-ins, notifications, transactions, and other features for your stock market website in layman’s terms.
In addition to the backend and front-end developers, the development team often consists of a project manager, graphic designer, and a quality analyst (QA).