SKYTRADERS: Trading Simulator App and Trading Platform Development
About
SKYTRADERS is a proprietary trading company, by traders for traders. This crypto trading platform offers a membership program, providing a dashboard, Telegram groups, newsletters, and webinars to its users. They provide trading and cryptocurrency courses exclusively from members for members.
The SKYTRADERS Community is an Austrian non-profit association and offers a platform to its registered members to exchange information among themselves.
The Need
SKYTRADERS needed a team of experienced stock market app developers to build the MVP and trading simulator for educational purposes.
One of the challenges they encountered was the creation of an efficient mechanism to store all the historical rates for crypto tokens every few seconds, which resulted in millions of data rows in a few days. So, they started searching for a stock trading app development company.
For their first version, besides the minimum viable product (MVP), SKYTRADERS also required to build a stock trading mobile application to allow users to trade everywhere.
the solution
As a first step, the Milies team of experts in trading and stock market development jumped in to build the price collector service and fine-tune it to store millions of rows of data and execute queries in a reasonable time, using SQL.
With real-time stock market data and interactive charts, the users can practice trading without investing real money. We ensured smooth interactions and responsiveness to launch a growth-driven stock and virtual trading application. Our team also successfully set up the server infrastructure, databases, and APIs essential for handling the functionalities of the stock trading application. It involves executing trades, handling user accounts, getting real-time market data, and safely storing user information.
We also built trading APIs on top of the price collector, which was integrated with web and mobile applications. The trading simulation software allows to practice trading whenever needed, while the APIs provide all the market data from the third-party data providers.
Our team suggested using Angular to build the front-end and Ionic/Capacitor to build native mobile apps from web version. This resulted in lower development costs and shorter time to launch the MVP product.
If we enlist the top functionalities that our team at Milies created while working on this trading platform development project, it will have the following structure:
- API integrations of real-time market data to provide the most recent stock prices, market indexes, and other crucial information
- Simulated trading development to enable users to execute virtual trades based on real-time data analysis
- Interactive chats to visualize stock performance
- Trade orders to help consumers define the trading parameters they want
- Performance monitoring to help users keep eyes on the state of their virtual portfolios and make sound decisions
- Watchlist for the users to make and modify their own watchlists of stocks to quickly access crucial data
- Portfolio analysis to assess investment methods and analyze the portfolio
- Push notifications to notify recipients of significant events, such as price changes or trade confirmations.
- Social sharing functionality for the users to interact and establish connections with one another, creating a community where traders can exchange ideas and techniques
