Hi there! In recent years, we have been witnessing the uprising of mobile trading platforms. So, here is this blog on developing a mobile trading platform like Webull. Let us uncover the advantages of developing a mobile trading app, how the app works, the revenue model, and the cost of developing the app.
Everything You Need To Know About Webull
Webull is an online trading platform in which users can indulge in investments and stock exchanges. One notable thing about this platform is that it doesn’t cost any commission fees. So, how does the platform make money? There are numerous other ways in which the platform earns money which we will see in the future sections. Now, let us take a look at Webull and its purpose.
Webull is a Chinese fintech company established in the year 2017. The company is based out of the U.S. and is one of the leading online brokerage platforms. Initially, Webull was rolled out to provide charting tools to investors so that they can have a better understanding of stocks and invest accordingly. Being inspired by how Robinhood, an online trading platform, offers commission-free exchanges, Webull transformed into an investing platform.
Webull And Robinhood – Perfect Rivalries
While you have gained a hint on Webull, here is all you need to know about Robinhood. Robinhood is also an online trading platform that is based out of California. The platform is special for its commission-free trading. Now comes the big question. Why are Webull and Robinhood, the most recognizable competitors? Here is what you need to know.
Investors, who felt that Robinhood lacked some features, headed to Webull. While Webull has an enormous number of features like charts, and other tools, it is suitable for intermediate or advanced investors. While Robinhood is applicable for beginners. Yet, Robinhood is known for its simplicity and speed of processing the data. On the whole, Webull and Robinhood are known to be the closest competitors in the online trading platforms.
Cryptocurrency – The app supports cryptocurrency exchanges where users can trade currencies like Ethereum, Bitcoin, Bitcoin Cash, and Litecoin. As of now, only these cryptocurrencies are supported by the app.
Various features of the app
Charts are a graphical representation of the price of different stocks over a period. Charts are designed to help users know various stocks’ performance and when to enter or exit to/from a particular stock.
Stop-loss is an alert that lets users know the ideal time for selling the stocks to prevent loss.
Take profit is a feature that users or investors can enable to sell stocks when it reaches a particular level of profit. In the app, users can set the toggle button accordingly so as to close the sale.
Shorts in trading is a position where users will sell stocks or plan to buy them in the future. Users opt for shorting when they speculate that a particular stock may see a dip.
Users can buy stocks they prefer by searching them in the search field or using the integrated stock screener. Users will have to enter the limit, price, and quantity of stocks they want to buy and click trade.
Day trading is the process of trading(either purchasing or selling) within a single day. In Webull, there are a few restrictions in day trading. Users who have an account value under $25,000 are permitted to make three-day trades in five business days. Users with an account value of more than $25,000 have unlimited day trading options.
The revenue model of the Webull clone
Paid subscriptions – Paid subscriptions are the prominent sources of revenue in this app. Users will have to pay subscription fees to perform trading. Webull has a subscription plan of $4.99 per month and $53.99 per year.
Order flow- For every trading(buying or selling), the platform will charge a certain percentage of the amount.
Short sellers – Short selling is when a user borrows stocks and sells them. Again the investor will buy the same stock and return it to the lender. For this transaction, the app charges a certain percentage of fees.
Why should you choose our Webull clone solution?
Appdupe is a mobile app development company well-known for its clone apps. We have a range of clone apps under different categories. In this line, we have a Webull clone that lets you provide an online trading platform for users.
Cost Of Developing The Webull Clone
While there is no exact estimation of the app development, we can provide a breakdown of factors that will influence the cost of development.
Customization (UI and UX)
Platforms (Android, iOS, or both)
If you tell us your requirements and customizations, we can give you the appropriate cost of developing your app.
Benefits of getting the online trading app from us include,
We hope you had a thorough understanding of the Webull clone right from the purpose of the app to the revenue sources associated with the app. If launching the Webull clone excites you, head to us, and we are ready to customize the app for you. All the best!
At AppDupe, we know that our customers are Entrepreneurs and keeping them succeeding is what will make us stronger. So, we promise you, Life Time Updates free of charge. Yes, we know that Apple and Google keep coming out with new versions of their mobile OS's and other companies we clone from also keep updating their features and UX to stay up-to-date. We will take care of that for you, leaving you to do what you do best, Win!
Is this legal?
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