In the financial market ecosystem, Automated Trading is the need of an hour how. People are trying to find ways to reduce manual intervention in trading especially if they have a day job to do. It’s speculated that around 50-60% of trades in the US equity market is triggered through automated systems, and the number keeps growing every year. In this post, we’ll understand what is auto trading and look at some of the popular automated trading software in India.
What is Automated Trading?
Automated Trading or Auto Trading is a concept which eliminates any human intervention while placing buy-sell orders in the market. It can be visualized as a “Robot” which is trading on your behalf.
Behind any automated trading system is an algorithm that identifies profitable trading opportunities. This algorithm is written using any high-level programming language like ‘Python’ or specialized software like ‘Amibroker’.
In summary, automated trading has two components:
- An algorithm to identify profitable trades
- A software to place orders on your behalf
In the following section, we’ll focus purely on number 2. If you want to learn more about algorithmic trading platforms, check out the below link:
List of Automated Trading Software
If you simply Google for the best automated trading software in India or robo trading software in India, you’ll get tons of recommendations. The problem is that several black hat vendors exist in the markets selling cheap and unreliable software
One thing you should definitely consider is that, if you are looking to automate your trades, the software is going to play a vital part. Any bug or execution errors in the software may put your money at risk. Hence, it is important that your software selection process is prudent.
We have evaluated several automated trading softwares in the past few years, and based on that curated a list of the best ones. The selection criteria were quite simple and based on the following 3 primary factors:
- The technology stack behind the software
- User base and reputation
- Execution speed and error handling
Below are the recommendations. They are not in any particular order. And some of these apply to global exchanges as well and not just Indian exchanges.
Tradetron is a relatively new but excellent automated trading platform in India. It is an all-in-one tool where you can build your algorithmic system, backtest it, and finally deploy it live.
It is a completely cloud-based software that doesn’t require you to install anything. Also, you would not need any special coding skills to build a strategy in Tradetron, it’s inbuilt strategy builder will do the job for you in just a few clicks. In case you want to re-use your existing strategy written in Amibroker, Python, etc, that is also possible with API integrations.
The best part about Tradetron is its strategy marketplace where you can sell your algo strategies OR you can buy someone else’s strategies. All the strategies listed in this marketplace can be evaluated based on several parameters like CAGR, drawdown, Sharpe ratio, etc. The strategies are evaluated based on both backtesting and forward testing.
Tradetron is currently integrated with all major brokers in India and the USA. So, whenever a trading signal is generated from you algo, it would be auto executed on your broker’s terminal. There is no human intervention required at all.
Moreover, there is a gamut of other features Tradetron offers like position sizing, risk management, tranching, rollovers, paper trading, etc. These set of features along with a very powerful technology stack makes this platform truly exceptional.
Cost: Starts with a free plan with only paper-trading mode, auto trade plans start at INR 300 for Indian exchanges and $50 for US exchanges. You can check the latest pricing details at this link.
Unique Selling Point (USP): Robust technology, strategy creator and backtestor, strategy marketplace, API integrations, Multi exchange and country support
Programming Languages supported: Inbuilt language for strategy creation, also can be integrated with Python, AFL, or MQL based strategies
How to Get Started? : Check out this page from their official website which contains some demo videos about the platform and strategy creation steps.
Streak is another cloud-based auto trading platform where you can create, backtest, and deploy your strategies. It comes with a very intuitive user interface that lets you create your strategies with zero coding skills.
Currently, it supports around 70 technical indicators which can be used to build various trading strategies.
When you create or deploy a strategy in Streak, it doesn’t actually fully automate the strategy, rather it generates one-click actionable alerts whenever the strategy conditions are met.
It is also equipped with a powerful Scanner feature which lets you scan thousands of symbols at a time using a defined search criterion. You can use these scan results to place buy-sell orders in a single click.
And finally, there is a Discover feature using which you get access to several readymade strategies with their backtest results. You can assess these strategies based on their performance and deploy them for auto trading.
Cost: Starts with INR 690 per month, 7 Days free trial for first-time users. Check the latest pricing here.
Unique Selling Point (USP): User-friendly interface, Scanner feature, Low cost
Programming Languages supported: Inbuilt language for strategy creation
How to Get Started? : Visit their Help portal to start learning more about Streak.
Symphony Fintech is among one of the first vendors who provided technology-based solutions for financial markets in India. They have a portfolio of products among which BlitzTrader is their signature algorithmic trading platform.
BlitzTrader is a highly scalable enterprise-grade software that can be used to create and deploy algorithmic strategies. All aspects of trading, such as obtaining market prices, analyzing price patterns, making trading decisions, placing orders, monitoring order executions, and controlling the risk are automated according to user preferences.
It follows a microservices-based architecture where you utilize BlitzTrader APIs to create strategies and then the strategies are automated using broker’s APIs. Several strategy templates come inbuilt with the software to enable rapid development.
It also supports high-frequency trading by giving an option to host your strategies at proximity to exchanges.
Type: Desktop application
Cost: Not disclosed
Unique Selling Point (USP): High scalability, Broker agnostic, HFT support
Programming Languages supported: Any .NET supported language (C#, VB.NET, C++, J#…)
How to Get Started? Ask for a trial from their website. Documentation can be found here.
RoboTrader is an Amibroker based automated trading software in India that lets you automatically place buy-sell orders generated from an AFL code. They also offer some of the proprietary algorithms in case you do not have a strategy of your own.
The software picks continuously scans for the buy-sells signals generated in Amibroker and transfers them to your NEST/ODIN platform without any latency. You have an option to install both RoboTrader and Amibroker in a VPS (virtual private server) so that you don’t have to keep your system ON all the time
The two proprietary strategies they offer is named as AmiGO and EnnGinoid respectively, and their vanilla automated trading software is called BRAVO Cloud+
RoboTrader comes with an exhaustive list of configurable settings like stop-loss, targets, order timings, order type, order validity, execution mode, position-sizing, etc. You can configure these at your convenience.
Please note that RoboTrader is not affiliated with Amibroker in any way.
Type: Desktop application
Cost: Starts from 3500 per month
Unique Selling Point (USP): Low latency, native to Amibroker, No learning curve if you already know Amibroker
Programming Languages supported: Amibroker formula language (AFL)
How to Get Started? Ask for a free demo from ROBO TRADER
SquareOff offers automated trading bots that can trade on your behalf. You have several bots to choose from based on your risk appetite and profit expectation.
All these bots contain an inbuilt trading system that has been tested on historical data. At the time of writing this article, there is no support for a custom strategy.
All you need to do from your side is to login to their bot dashboard every morning and specify your trading capital for each bot you are subscribed to. The bot will take care of the rest of the things.
Cost: Single bot subscriptions starts at 17700 INR per year
Unique Selling Point (USP): No learning curve, Impressive historical performance of bots
Programming Languages supported: No support for any custom codding
How to Get Started? Check out the range of bots they offer along with their performance metrics from this link
Few other Automated Trading Software in India
Below softwares also looks promising based on the features described on their website. However, we haven’t tested them yet.
Which of these is the Best?
Frankly speaking, all these automated trading softwares have their own unique selling points. There is no easy way to determine the best among these.
If you are looking for a single platform to build, backtest, and deploy your automating trading systems, then Tradetron is probably the best choice. Its patent-pending technology packed with a myriad of user-friendly features stands it out among others.
However, if you already have a trading system built in Amibroker, then go for RoboTrader. It can simply automate your existing system with no hassles.
Symphony BlitzTrader is a great option of enterprise-grade automated systems with HFT capabilities, while SquareOff is best suited for working professionals who don’t want hassles of building a system from scratch.
Finally, Streak is a good option (more or less similar to Tradetron in terms of technology), but it lacks a fully automated feature, and it works only for Zerodha users.
Consider the above points in mind and take your call based on what suits you the best.
Let us know in the comments section if you have any questions regarding the automated trading software in India.