Categories: Mobile App Development

What Should You Know To Build A Successful Investment App Like Acorns?

The digital era combined with advanced technology has disrupted the finance and banking industry. Nowadays, transactions can be done within minutes with the use of modern technologies. Whether you want to send or receive money, conduct transactions or invest in the stock market, it is essential to have a successful investment app like Acorns, Twine, Stash, Robinhood and others to help you perform the task without any hassle.

What is an investment app?

Investment apps are designed to allow both newbies and experienced investors to manage their investments in the stock market and other financial market. With various convenient services at low fees, these investment apps may help investors save money and improve their portfolios. It helps to assist your customers in real-time, thus making them comfortable with your bank or finance company.

If you are still unsure about investment app, here are some convincing reasons:

Why are investment apps essential?

# Highly Accessible

Investment apps make money investment easier than ever for people of all financial backgrounds thanks to their easy-to-use interfaces and quick availability. They come with daily, weekly, and monthly deposit options that allow users to put their investment on autopilot while spare change deposits provide a relaxing way to start building a nest egg.

# Cost-effective

Many investment apps have small minimum deposits and low fees. Most spare-change investment apps charge around $1 to $2 per month for their basic services and anywhere from $3 to $10 for premium subscriptions that usually include tax-deferred retirement accounts and other benefits. Apps that allow you to trade individual stocks are mostly commission-free, while some may require a minimum investment.

# Easy to use

If you are using an investment app for your business, you don’t have to worry about choices and decisions before investing. What’s more, investment apps are easy to use, so it’s very simple and fast to invest.

Now, let’s talk about top investment apps in 2021

Top 5 investment apps in 2021

If you are looking for the best solution to get your financial life back on track, go for a successful investment app. A highly functional and user-friendly app can handle routine financial tasks, shuffle money into investment accounts, and more that allow you to do the things you love to do. Here are the top five investment apps in 2021 that are best for both beginners and experienced investors.

#1 Acorns

If you are a beginner with a hands-off investing approach, Acorns is the best app! But why? This is because it introduces investors to investing while they are still beginners. Besides, they can get free management instead of paying a commission. Investment apps like Acorns motivate users to invest their spare change using a system – “Round-Ups.” This system allows Acorns to monitor your bank account and automatically invest the change from your purchases. Acorns app is designed for iOS platform, so you need to hire a reputed iOS app development company to build this finance app.

#2 Stash

Beginners who are not categorized as college students may use Stash. Like Acorns, Stash helps novices who may invest more when their income goes up. Plus, it educates them on the finer points of investing through educational materials. This app charges $3 per month for the basic monthly plan which includes a bank, brokerage, and retirement accounts.

#3 Robinhood

If you have Robinhood, you can trade stocks without paying any fees. It is essential to fill out an application to sign up for it. After accepting, users get a brief video that explains the application and how to make trades, and how they can get away with $0 trades. Robinhood is a perfect app for frequent traders who want additional control over their portfolios.

#4 Wealthfront

Whether you dread long talks with their financial advisors or don’t have more time to assign to that, Wealthfront is a beneficial app for you! It makes everything automates, so you don’t need to deal with human financial advisors anymore with this app. It is also useful for people who want to move towards investing without any fanfare and just need a Robo-advisor to guide them through each transaction.

#5 Twine

Twine is good for partners who want to collaborate on investments and savings. This app simplifies saving for major milestones like weddings, down payments, and vacations. It is also good for people with lower incomes due to the low investment amounts required to get started.

So, there are different types of investment apps available in the market. But still, people prefer using Acorns more than others.

Why Acorns app is so popular?

# 1 Emphasis on automation

One of the main reasons why Acorns are getting more popular than others among investors is an automatic investment. All Robo-advisors are designed for easy investment, but Acorns emphasis on automation. Users attach their other financial accounts (debit cards, credit cards, and others) to the Acorns app and all purchases are rounded up to the nearest dollars. This app takes investment funds from a single linked checking account.

#2 Automatic rebalancing

With Acorns, you don’t worry about rebalancing clients’ portfolios over time as it comes with ready-made portfolio options. This means, it automatically maintains your desired allocation.

#3 Several account types

Acorns are an app that offers individual investment accounts and IRAs. Plus, it offers custodial accounts for kids. This app offers several types of accounts that should meet the needs of most investors.

#4 Easy investment

Acorns have five investment portfolio options, so customers can choose as per their needs. Unlike other competitors’ portfolios, they all have simple, easy-to-understand titles. So, in simple language, if you are an investor who wants to keep it simple, Acorns is the best choice!

#5 Easy to use

Acorn is a user-friendly app with high ratings. According to a report, the Acorns app has a 4.4 out of 5-star rating based on more than 133,000 Acorns app users’ reviews on the Google Play store. On the App Store, you will find a better 4.7 out of 5 Acorns app rating based on 674,000 reviews of users.

So, these are some reasons why the Acorn app is so much popular among investors. Now it’s time to learn about how this app can help to invest money.

How can acorns help to invest your money?

Acorns are your financial service app that helps you invest your money. This app allows you to connect as many financial cards with the app’s account as you want. With each transaction that occurs from these cards, Acorns rounds off the amount and saves the change within the app’s account. For example, if you purchase $6.75, Acorns is an investment app that will record it as $7 spent and the change will be stored in your app’s account. These changes are used for investment in the future.

Acorns are one of the best investment apps that make you earn money for every penny spent. According to research, Acorns has already hit 3.5 million app users. It is also essential to know that this app is not only used for money-saving purposes but also for setting up a recurring deposit and investing a lump sum whenever you want.

How to build a successful investment app like Acorns?

After having ideas about investment apps, why the Acorns app is so popular, and how it helps to invest the money, the big question that arises among investors is how to build a successful investment app like Acorns. Here is a step-by-step guide to building a money-saving app like Acorns.

Step # 1 – Planning

When it comes to building an investment app like Acorns, planning is the first step towards it. In this step, you need to plan out the financial services you want to offer and the risks you are willing to take. In addition, you can consult your financial advisor for the same. At this point, you can choose the ETFs to include in your application.

Step # 2 – Inception

In this step, you will start working on Robo advisors and the application’s real mapping as to how it will work. In the offline world, some stockbrokers help people invest their money. In the online world, you will get Robo advisors who are connected to the servers and possess the ability to handle the money. There are many gateways within the systems that are used to transfer market information to the trading system. This is when you will build the entire system from start and will ensure your system’s part works efficiently.

Step # 3 – Feature integration

During the development of an investment app like Acorns, you will need a list of all the must-have features. For your convenience, we will share some features below:

  • An SSL certificate
  • Incorporate 256-bit encryption for the account
  • Add two-factor authentication to it for secure login and secure services
  • Include two accounts- roundup and settlement for ease of usability
  • Include a financial planner, and a virtual trainer in your app

Step # 4 – Development & testing

After mapping all features and sketching the outline for the app, it’s time to develop an investment app like Acorns. It is well-advised to test the app before launching it live. A proper testing process allows you to remove all bugs from the app if any. It also ensures that your app like Acorns is perfect for investment.

For more information, you can read How to Make a Banking App: A Comprehensive and Step by Step Guide.

What tools should you use for your mobile investment app development?

Experts recommend using effective tools for this end-to-end application development project. For the right app development, you should consider a good test automation tool. While there are so many reputed tools, TestComplete is a good choice.

TestComplete is a functional automated testing platform that gives testers the ability to create automated tests for MS Windows, Android, and iOS apps. To manage the development and deployment of an investment app like Acorns, you need a good tool like Maven – a build automation tool used for Java projects. If you are planning to develop an investment application, you will need funds for this. So, you can read about how to get funding for an application.

The cost to develop a mobile investment app

Now, you might have a question in your mind about the cost of mobile investment app development or you can say Acorn investment app. To give the basic estimation of an app like Acorns, you need to meet with an expert business analyst who spends 2 to 3 hours on the app’s important features. For that, you can check the essential features of the best investment apps like Acorns. The features are given below:

Common features of Investment App like Acorns:

  • Instructions
  • Registration & Login
  • Automatic Investment from Purchasing
  • Recurring Investment Daily, Weekly & Monthly
  • Link Unlimited Cards
  • Transferring & Withdrawing Money Anytime
  • Latest News & Updates of Investors & Finance Experts
  • Push Notifications
  • Referrals

The basic cost of Acorns app development with the above features is around $24750 from any leading mobile app development company. However, to know the exact cost of an individual investment app like Acorns, you need to hire a reputed mobile app development company. Appventurez is the right place for you if you are looking for a company for a successful Acorns app development. Let us know your finance app idea and requirements and also tell us what features you want in your apps. Then, our dedicated business team will get back to you with the exact development cost for the investment app.

Why choose Appventurez for investment apps like Acorns?

Here are some reasons why you should go with Appventurez for Acorns investment app development.

# Professional build plans

Hire our dedicated team of developers to estimate, build, test, and launch your customized investment app like Acorns.

# Faster, smarter, better

We believe in delivering faster, smarter, and better solutions that are the best fit for your projects no matter your requirements and budgets.

# Fixed, predictable costs.

We provide monthly subscriptions that include world-class hosting, infrastructure, implementation, maintenance, operations, monitoring, and security.

For free consultation regarding this, you can get in touch with us!

The Final Takeaway!

While investment was completed via banks and other financial institutions, investment apps like Acorns prove that the technology is growing increasingly not only in other sectors but the finance sector as well. If you want to learn about the real trades without risking your funds, these apps are a great choice! In addition, investment apps like Acorns make it easy to enter the complicated investment world. But this is not enough, this modern investing platform makes wealth accumulation a safe process on your part.

Ashish Chauhan

Co-Founder and VP Mobile Architect at Appventurez. An expert programmer who is passionate and loves to explore emerging mobile technologies. As a leader, he is a perfect match as he is always there for the team to help and guide them to learn and implement smartly and effectively.

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