Do you know, that Groww is now ranked #5 in the finance and investing category in India? Moreover, there were 24.9 million visitors on Groww in May 2023. All these stat shows us that the company is growing quickly.
If you too are planning to launch an app similar to Groww and looking for steps and costs to do so then you are at the right place. This post will help you gain all the desired information that you require.
What Is Groww?
Groww is an online stock trading platform that also provides SIPs, mutual funds, and intraday facilities to its customers. The company has now started to provide loans and you can even check your credit score on their website as well.
You can open a demat account, and sell, and purchase stocks through the app.
Features In A Trading App Like Groww
A trading app like Groww should be feature loaded and the app should be easy to navigate so that any age group can use it. Here are some must-have features too including a trading app-
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Graphical Representation Of Stocks
A graph would make it easier for customers to understand how a particular stock is performing. The graphical representation would make it easier for customers to quickly purchase or sell a stock.
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Quick Login
Using a password or pin is now outdated instead a biometric or face detection login is used in the app. This feature makes it easier for customers to log in and upscale their experience in your store.
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Automatic KYC Verification
To perform trading in an app like Groww one must complete their KYC (Know Your Customer) which makes the transactions safe. Thus, the customers can submit their documents and the app will allow or disallow them depending on the documents.
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Robust Security Features
To keep the investors safe, apps like Groww must have robust security features such as 128-bit encryption, multi-factor authentication, and secure socket layers. All these restrict the unauthorized parties that may try to access funds or collect user data.
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Up To Date Portfolio Management
This feature would reflect the stocks and the current holding of customers with data on how a particular stock is performing. This would also inform the customers of the stocks that are in + or – in their portfolio.
Cost Of Developing A Trading App like Groww
The cost depends on the list of features you want to include in your app. However, you can get your app developed between a range of $10,000 to $50,000 depending on your requirements. Here are some points that affect the price of an app-
- The list of features.
- Design and functionality
- Location of the development team
- Application UI/UX
| Region | Simple | Moderate | Complex |
| Development Time | 400 Hours | 500-800 Hours | 800-1500 Hours |
| India (Appic Softwares)($30/Hour) | $12,000+ | $15000-$24,000 | $24,000-$45,000 |
| Europe ($67/Hour) | $26,800+ | $16,000-$25,600 | $25,600-$100,500 |
| USA($95/Hour) | $38,000+ | $47,500-$76,000 | $76,000-$142,500 |
How To Develop An App Like Groww?
Here are the top 3 steps to develop an app like Groww-
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Partner With Finance App Development Company
The process starts with you partnering with a finance app development company that would help you create the app. Partnering with them would help you manage the IT part of your company which would allow you to manage the operating and marketing department.
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Choose A Tech Stack
Up next choose the tech stack you want your app to be built on. You can choose from a wide range of technologies such as Flutter, Angular, React, and so on. You should select the technology depending on the UI/UX and the features of the app.
P.S. – If you are confused about which technology to choose from then click here.
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Test Your Application
Although the finance app development company will have a team of quality analysts, still you should ask for the APK file of your app and test it by yourself. This would ensure that all your requirements are met before the app gets launched.
What Is Groww’s Business Model?
Source: Similarweb
Groww provides free demat account opening and charges 0 account handling charges. However, it charges ₹20 or 0.5% in the form of brokerage. The business revenue depends on the large trade of stocks.
Conclusion
Now in the end we hope that through this post you were able to gain knowledge on the cost of developing an app like Groww. Here we have mentioned the cost and the steps that you should take to get your trading app developed.
However, if you are looking for a finance app development company, then you should check out Appic Softwares. We have an experienced team of developers that can use all the latest technologies such as Flutter, AI, Angular, and more.
So, what are you waiting for?
