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Best Algo Trading Software in India 2023

Introduction:

Technological advancements have made stock trading more accessible and more accurate. The use of Artificial Intelligence (AI) allows you to make highly accurate market predictions and take trading positions accordingly. This, in turn, helps you maximise your profits and reduce the chances of incurring losses.

Algo trading is a technique that allows you to make trading decisions based on pre-programmed computer algorithms. It enables faster execution of trades and eliminates the need for constant market monitoring. You can automate your trades by adding stop losses and targets based on real-time market speculations.

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Best algo trading platforms in India

After its widespread use, the Securities and Exchange Board of India (SEBI) in 2022 declared that stockbrokers allowing algo trading in India would require a new regulatory structure. Thus, a thorough understanding of India's best algo trading software is crucial.

Below are the top six algo trading platforms in India you can consider:

Zerodha Streak

Zerodha Streak is one of the best algo trading software in India. It has a user-friendly interface through which you can execute automated trades without any coding knowledge.

The benefits of Zerodha streak include:
Easy to navigate, user-friendly interface
Nominal brokerage charge of Rs. 20 per transaction
Access to more than 70 technical indicators
Real-time market scanners for selecting stocks based on custom conditions
Backtesting engines for viewing performance metrics of stocks
Strategy optimisation techniques to create 1 million unique strategies with various combinations
Algo Trader

Algo Trader is one of the oldest algo trading software. It has a presence in several countries around the world, including India. This algo trading platform of a Swiss company was first introduced in 2009 with versions 2.2 and 2.3. Since then, comprehensive editions have been made available in successions to ensure an enhanced trading experience.

The advantages of Algo Trader include:

A range of charts and indicators for accurate market predictions
Access to quick asper engine for high-precision trading
Extensive data processing capabilities enable high-frequency trading
Comprehensive assistance with online training post-installation
One of the most affordable algorithmic trading platforms
Option to trade in cryptocurrencies
Use of modern technology with 200% back-test acceleration potential
Robo Trader

Robo trader is brand-new algo trading software recently made available to investors in India. It is one of the most popular algo trading platforms owing to its user-friendly interface and the availability of extensive tools.

The top features of Robo Trader include:

Naked options trading strategy for automated identification and execution of options trading opportunities in underlying stocks
Scalper propulsion strategy for generating quick profits from short-term price movements
Allows you to use multiple strategies simultaneously for effective risk management
Advanced analytics and real-time data analysis tools to help you make informed trading decisions
Maximise your profits with the help of automated trailing stop-loss
An option to shift between automated and manual trading
Meta Trader

Meta Trader is another highly popular algo trading software in India. It offers some powerful features and is suitable for rookie as well as experienced traders. With the support of Expert Advisors (EA), you can engage in automated trading based on pre-determined algorithms.

The top benefits of using Meta Trader include:

A user-friendly interface with diverse tools and indicators for a rich trading experience
Expert Advisors to guide you on accurate entry and exit points
Advanced charting and analytical tools to help you make informed trading decisions
MT4 and MT5 versions allow trading in forex, stocks, commodities, and cryptocurrencies
Extensive back-testing capabilities with strategy optimisation tools
ACE FundTech

ACE FundTech is the algo trading facility offered by one of the most popular stockbrokers in India – Motilal Oswal. It allows you to invest in pre-defined equity portfolios with deep-rooted fundamentals. It helps in automatic investment in companies with the best financials while also considering technical evaluation.

The primary features of ACE FundTech include:

Diligent stock picking based on financial data and technical analysis
Allows you to create a well-diversified portfolio through automation
You can review your portfolio in real-time
24 X 7 portfolio tracking facility
Superior returns as compared to index performance
You can start with a minimum investment of Rs. 1 lakh

To Conclude

These are the best algo trading software in India. You can use them for automated intraday and derivatives trading with high accuracy. Algo trading platforms deploy high-level algorithms to execute trades based on real-time data analysis and market speculations. However, before using them, you must be well-versed with their functioning and features.