Algorithmic trading, or algo trading, is a popular trading method in the Indian stock market that uses computer programs to execute trades automatically based on predefined rules and strategies. With the increasing popularity of algo trading in India, several algo trading software options are available. This blog will explore the best algorithmic trading software options in India.
Algorithmic trading has gained significant traction in India over the past few years. According to a report by the Securities and Exchange Board of India (SEBI), algorithmic trading accounted for nearly 48% of India’s total cash market turnover in India in 2020, which was a significant increase from 34% in 2019. The rise of algorithmic trading in India has also led to increased use of artificial intelligence and machine learning-based trading models. The best algo trading software will have robustness, flexibility, speed, accuracy, security, a user-friendly interface, and cost-effectiveness. Here are some of the best software in the market.
Amibroker
Amibroker is a popular trading software option in India. It is a comprehensive trading platform with features like charting, backtesting, and optimisation tools. Amibroker’s user-friendly interface and powerful analytical tools make it a popular choice among beginner and experienced traders.
Amibroker also supports various data sources, including real-time data feeds, historical data, and other market data sources. Additionally, Amibroker allows for customisation and automation of trading strategies, making it a popular choice for algo traders.
Zerodha Streak
Zerodha Streak is another popular algo trading software option in India. It is a cloud-based platform that allows traders to backtest and automate their trading strategies. Zerodha Streak is known for its user-friendly interface and is popular among traders new to algo trading.
Zerodha Streak also allows traders to access various technical indicators and charting tools to help them identify trading opportunities. Additionally, the platform offers real-time market data feeds, and traders can execute trades automatically based on their predefined trading strategies.
TradeStation
TradeStation is a comprehensive trading platform with various tools and features for algo traders. It is a popular choice among experienced traders, offering advanced charting and backtesting tools.
TradeStation also offers a range of customisation options, allowing traders to create and automate their trading strategies. TradeStation also offers access to a wide range of financial instruments, including equities, options, futures, and forex.
AlgoTrader
AlgoTrader is a popular trading software option in India known for its advanced features and customisation options. It includes backtesting, optimisation, and risk management tools, allowing traders to create and automate their trading strategies.
AlgoTrader also offers access to real-time market data feeds and the ability to execute trades automatically based on predefined rules and strategies. The platform also supports various financial instruments, including equities, options, futures, and forex.
Fox Trader
Fox Trader is an advanced algorithmic trading software used in India that provides traders with various features to help them create and execute trading strategies. The software is designed to work with multiple exchanges and allows traders to trade across different asset classes, such as equities, futures, options, and currencies.
It provides traders with real-time market data, news alerts, and customisable dashboards to help them stay informed and make informed trading decisions. The software is a desktop application and can be used on Windows and Mac operating systems.
Conclusion
There are several algorithmic trading software options available in India. The best trading software option for you will depend on your trading style, experience level, and trading goals. It’s essential to consider factors like user-friendliness, customisation options, and access to real-time market data feeds when selecting a trading software option.
This article is for information and educational purposes only and does not form a recommendation to invest or otherwise. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.