Users are faced with multiple choices when it comes to trading apps. Therefore, it is important not only to attract but also retain the app’s active users. To do this, there should be effective tactics used by trading platforms in terms of in-app engagement. Traders can set themselves apart from other trading apps by adopting methods that serve two purposes: improving consumer experience and encouraging profitable trade behaviors.

1. Onboarding :

Trading apps often present a steep learning curve for newcomers. Simplifying the onboarding process can significantly enhance user retention and satisfaction. One effective strategy involves guiding users through account activation with personalized prompts and instructions. Trading platforms can customize their onboarding experiences according to individual preferences and requirements to ensure that users transition smoothly, which in turn leads to increased confidence and reliance on the app. For instance, users are prompted to provide information necessary for account activation and funding, streamlining their first transaction experience.

A walkthrough-enabled activation process by IIFL: A major trading platform in India, IIFL, has all the means to serve its clients in the most efficient manner. This is achieved with the help of proactive measures that ensure a problem-free onboarding process. Once joined, the users are instantly taken through a process of activation with helping prompts, which are custom made every time for their preferences and tastes.

2. Activation :

User activation goes beyond mere account setup; it involves encouraging users to explore app functionalities actively. Activation plays a pivotal role in ensuring that users not only set up their accounts but also actively engage with the functionalities offered by the trading app. One effective tactic to drive activation is through personalized walkthroughs, which guide users on how to perform key actions within the app, such as adding funds to their accounts.

‍IIFL - Activating Customers by Personalized Guidance to Add Funds for Buying Stocks: IIFL, a leading trading platform in India, successfully employed this tactic to boost activation rates. By launching a personalized walkthrough campaign targeted at users on their second day in the app, specifically when they accessed the watchlist page, IIFL was able to nudge users towards the core action of adding funds.The campaign's purpose was clear: to contextually nudge users at a point in their app journey where they were likely exploring investment options. By triggering the campaign on the second day of users' app usage, IIFL ensured that users had already familiarized themselves with the basic functionalities of the app. The nudge type chosen for this campaign was a walkthrough, which provided users with step-by-step guidance on how to add funds to their accounts. This personalized approach helped users overcome any potential barriers or uncertainties they might have had about the process, thus increasing their confidence and likelihood of completing the action. The impact of this campaign was significant, with IIFL witnessing a remarkable 3% increase in the number of funds added in a single day. This outcome not only demonstrated the effectiveness of personalized walkthroughs in driving activation but also highlighted the importance of timely and contextually relevant nudges in encouraging desired user behaviors. By leveraging personalized walkthroughs at key touchpoints in the user journey, trading apps can effectively drive activation, thereby increasing user engagement and ultimately driving profitability for the platform.

3. Conversion :

The conversions phase marks a critical juncture where users transition from passive observers to active participants in the trading ecosystem. To drive conversion and sustain engagement, trading platforms can introduce innovative features such as native cards, providing users with a compelling avenue to explore new investment opportunities. Native cards refer to a feature within a trading app that showcases upcoming Initial Public Offerings (IPOs) in a visually appealing and interactive format. These cards are integrated directly into the app's interface, providing users with easy access to information about upcoming investment opportunities. Within the trading app, users encounter native cards showcasing upcoming offerings. These cards provide essential information and incentives for exploration, driving user conversion and sustained engagement.

Unlocking Opportunities Through Native Cards: eToro uses native cards to showcase prominent investors from whom users can get investment information. By integrating native cards directly into the app, eToro aims to drive user conversion and sustained engagement, as users can easily explore new investment opportunities within the platform.

4. Live Streaming of Market Events :

Trading applications frequently allow live streaming within the application itself for different market events such as earnings calls, economic reports, and analyst briefings. By means of these live streams users can find real-time access to essential market data inclusive of expert analysis and commentary that helps them stay informed thus making wise decisions concerning trade activities. Many trading applications offer live streaming of market events, providing users with real-time access to essential market data, expert analysis, and commentary. This feature enables users to stay informed and make well-informed trading decisions.

Real-Time Market Insights by TD Ameritrade: TD Ameritrade offers live streaming of market events such as earnings calls, analyst briefings, and educational webinars directly within their mobile application. Users can access real-time market insights, expert commentary, and analysis from industry professionals, helping them stay informed about market developments and make informed trading decisions on the go. This feature enhances the overall trading experience for TD Ameritrade's users by providing them with valuable real-time information and expert insights.

5. Personalized News Feed :

Some trading apps personalize their news feeds which are populated by algorithms analyzing user behavior and preferences. Relevant market news, analysis, and updates that are most likely to be useful to each user are delivered using these feeds. Trading apps can employ personalized news feeds, leveraging algorithms to analyze user behavior and preferences. These feeds deliver relevant market news, analysis, and updates tailored to each user's trading activities and interests.

Tailored Market Updates by Groww: Groww app uses “Smart News Feed” feature to provide personalized news articles, market updates, and analysis based on a user’s trading activities and interests. In addition, the app uses machine learning algorithms to analyze behaviors; preferences or even trends in markets hence producing time-sensitive content. This interactive news feed serves two purposes- it keeps users interested in the app while at the same time providing them with knowledge they can use when making decisions about trades.

6. Gamified Challenges and Rewards :

Some trading applications embrace the concept of gamification by incorporating challenges and rewards as a way to encourage user engagement, promote positive financial behavior. By adding fun elements to the investment process, it becomes more interesting and enjoyable, making it feel like playing games. Users can still reach their goals and earn rewards along the way. Gamification features such as challenges and rewards can be integrated into trading apps to encourage user engagement and promote positive financial behavior. Users can earn rewards for completing tasks and achieving milestones.

Engaging Investment Challenges by Acorns: Acorns’ “Grow Your Oak” challenges are stand-out where rewards and incentives can be earned through taking part in different challenges that a user gets involved in. Challenges might involve establishing and achieving savings objectives, consistent investments or completion of monetary related tasks among others. Users receive incentives such as extra investments, cash bonuses or badges after completing various challenges. This strategy of gamification encourages usage of the app; create a culture of saving; keep people motivated towards their economic dreams.

For trading apps to increase customer retention and become profitable, they need to come up with in-app engagement strategies that work. By adding a number of features like onboarding, activation, conversion, interactive market simulations, community forums, live streaming of market events, personal news feed and gamified challenges; the trading apps could create vibrant and involving environments for users. These approaches go beyond creating value for users by developing a sense of community among them; keeping them updated; as well as incentivizing positive financial habits. Finally achieving long-term profitability involves investing in user engagement which will in turn build trading activity.