Case Study: Stockbit selects ChartIQ library for investor/trader social platform

stockbit logo chartiq

“The features provided by ChartIQ allow us to improve our platform and ensure that our 100,000 users get a world-class charting experience.”

—Wellson Lo, CEO, Stockbit

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Company Profile

Stockbit is a stock investing app for millenials with the most active investor community in Indonesia. There are more than 30,000 active users on a daily basis. Stockbit enables investors to discuss, analyze and trade stocks in one app, providing a space for users to share their ideas, news and other financial information in real time. Users create profiles and follow certain stocks or “favorite” investors to gather valuable information and share ideas. 

The main feature of Stockbit is a “stream” that consists of ideas, stock charts, links and other financial data. Stockbit is designed with features that focus on the behavior of investors and traders. 

Stockbit is the one-stop social networking platform for stock investors.

Executive Summary

Stockbit believes that investment is something that everyone needs to start doing at a young age, so that—down the road—they can get great results because of the power of compounding. The way to get young people involved in trading? Create an app they’ll love to use.

Stockbit has helped Indonesian investors, particularly millennials, carry out their investment activities. Stockbit provides the tools they need to discover, analyze, and view information with charts that show prices and other indicators in real time. Stock investing activities can be done directly on one platform that is available on the Web, Android and iOS.

Challenge

For many traders, the chart is a mandatory tool for analyzing stocks. The main challenge Stockbit faced was how to provide advanced financial charting features with data and information for users—along with high quality information and superior data visualization.

Stockbit needed a charting library that was extremely high performant, cost efficient, and allowed for easy and fast implementation. Along with these standards, elegant visualization on the web and mobile app was key. 

Solution

The Stockbit development team evaluated the time and resources it would take to build a complex charting library, and realized they were limited in both. 

“We explored a few potential solutions—including TradingView—but the flexibility and the freedom given by ChartIQ to our development team to customize the library to our exact needs won us over. We are very pleased with ChartIQ’s ability to implement custom stock indicators into our platform, adding value to our 30,000 daily users.” —Wellson Lo, CEO

Results

  1. By using ChartIQ’s HTML5 Charting Library, the Stockbit development team is able to save time and focus on developing other features.
  2. Stockbit can quickly build the chart platform by adding stock data and hundreds of technical and fundamental indicators to their chart, and also maintain an elegant and attractive visualization.
  3. With ChartIQ, Stockbit is able to provide a professional charting experience for more than 100,000 users who have joined.
  4. Together with ChartIQ, Stockbit is on its way to becoming the largest one-stop social networking platform for stock investors in Indonesia. Stockbit users discuss, analyze and transact shares from one application quickly and easily, all while using ChartIQ’s charts to inform their trades. 

“We decided to work with ChartIQ after considering the cost efficiency and many advanced features available. We highly recommend ChartIQ as a solution for trading or technical analysis platform, application, or web page,” —Wellson Lo, CEO

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