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Best algo trading software in India, What needs to check before buying?




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Introduction:

With the rise of online trading, more and more traders are turning to paid trading software to help them make informed decisions. TradingView and Amibroker are two of the most popular trading software available in the market today. While both of these platforms offer an array of features that can help traders, it's important to consider several factors before making a purchase. In this article, we will explore the things to look out for before purchasing paid trading software like TradingView or Amibroker, or others.




Features

The first thing you should consider before purchasing trading software is its features. Trading software can be quite complex, with different software offering different features. It's important to choose software that has the features that are most important to you. Some of the key features to look out for include:


Charting capabilities: You want software that provides you with in-depth charting capabilities, such as multiple chart types, indicators, and drawing tools.


Backtesting: This is a key feature that allows you to test your trading strategies against historical data to see how they would have performed in the past.


The below are the best sites to do backtesting in options, other Indian stocks, and crypto markets.



Let me know in the comment if you want more details about these platforms.


Real-time data: You want software that provides real-time data so that you can make informed trading decisions quickly.


Alerts: You want software that allows you to set up alerts so that you can be notified when certain conditions are met.


Automation: Some trading software allows for automated trading, which can be a useful feature if you don't have the time or expertise to trade manually.



I found the below platforms that provide API bridges to execute orders from TrdingView to any Indian brokers. Here as a user, you need to configure the alert in the tradingview, every platform are having enough youtube videos to configure the setup.




Ease of use

Another important factor to consider when purchasing trading software is its ease of use. Trading software can be quite complex, so you want to choose software that is easy to navigate and use. Look for software that has an intuitive user interface and is easy to customize. You also want to choose software that has good customer support in case you run into any issues.


Compatibility

Before purchasing trading software, you want to make sure that it is compatible with your computer's operating system. Some trading software may only be compatible with certain operating systems, such as Windows or Mac. You also want to make sure that the software is compatible with the brokerage platform that you use for trading.


Cost

The cost of trading software can vary widely, so it's important to consider your budget before making a purchase. Some trading software is free, while others can cost hundreds or even thousands of dollars. You want to choose software that fits within your budget but also provides the features that you need. It's also important to consider any ongoing costs, such as subscription fees or data fees.


Below are the monthly subscription changes for all trading-related platforms.

nextlevelbot - 999 to 8388

tradetron - 300 to 15000

Dhan Broker - Free

speedbot.tech - 500 to 7000

stocksdeveloper.in/Autotrader - 395/Month

algobridge.in - starts from 400

keev.tech - 500 to 900

algoji.com/apibridge - 1500

Quantiply - 250 to 1600

Algotest - 299 to 1999

www.stockmock.in - 399

choiceindia.com-stratezy - Free Opening

Opstra - 1300

tradingview - 1295 to 4995

Amibroker - $299 to $499

Zerodha Streak - 690 to 1400

Quants App - 3250 to 6000

Sensibull - 590 to 800

genianalysis - 1125 to 2999

i4Option - 349 to 569

oipulse - 799 to 1499


Please update in a comment if any platform I left or if you want to add.


Here is a comparison between the two best platforms in the market.






Reputation

Finally, you want to consider the reputation of the trading software that you are considering. Look for reviews and testimonials from other traders who have used the software. You can also check out online forums to see what other traders are saying about the software. You want to choose software that has a good reputation for reliability and accuracy.


Customization

Another important factor to consider is customization. Trading software can be quite generic and may not meet your specific trading needs. So, it's important to choose software that allows you to customize your trading strategies and indicators according to your preferences. Customization can give you a competitive edge by allowing you to create trading strategies that are unique to your style of trading.



Support

Good customer support is an important aspect to consider when purchasing trading software. You want to choose software that has a dedicated support team that is available to assist you with any issues or questions that you may have. Good customer support can help you get the most out of your trading software and can save you time and frustration in the long run.


User community

Finally, it's important to consider the user community when purchasing trading software. Many trading software platforms have a large user community that shares their knowledge and experiences with each other. Being part of a user community can help you learn new trading strategies and get feedback on your own trading strategies. It can also be a great way to stay up-to-date on the latest market trends and news.



Conclusion:

Lastly, it's important to keep in mind that trading software is just one of the many tools that traders use to make informed decisions. It's important to combine your trading software with other tools, such as market research, news, and analysis, to get a complete picture of the market and make informed trading decisions.

In conclusion, purchasing paid trading software can be a useful tool for traders, but it's important to consider several factors before making a purchase. Look for software that has the features that are most important to you, is easy to use and navigate, is compatible with your computer and brokerage platform, fits within your budget, has a good reputation, allows for customization, has good security measures, offers good customer support, has an active user community, and offers free trials or demos. Remember, trading software is just one tool in your trading arsenal, and it's important to combine it with other tools and education to be a successful trader.



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