Have you ever felt overwhelmed by the complexity of options trading? You’re not alone. Just like building a house requires the right tools and foundation, venturing into the world of options trading demands a platform that perfectly suits your needs. Choosing the right platform is critical for beginners, as it empowers you to develop, test, and confidently deploy your trading strategies.
Two leading platforms have emerged as strong contenders: AlgoTest and Opstra. Both are armed with powerful features, but they each have unique strengths that cater to specific types of traders. This comprehensive comparison aims to be your guide, meticulously dissecting the functionalities of AlgoTest and Opstra to help you make an informed decision and select the platform that perfectly aligns with your options trading aspirations.
Check out below a detailed comparison of AlgoTest and Opstra across 22 key points:
Feature | AlgoTest | Opstra |
Free Trial | Offers 25 free backtests every week on Monday. Strategy builder as well as simulator are free to use. | Free trial availability might be limited |
Backtesting Engine | Powerful Backtesting Engine | Basic backtesting capabilities |
Data Availability | Extensive historical and real-time data for indices like Nifty, Bank Nifty, Finnifty, Sensex, Bankex and Nifty Midcap. | Limited data options like Nifty, Bank Nifty, Finnifty and Nifty Midcap only. |
Strategy Builder | User-friendly drag-and-drop interface for building complex strategies | Not very user-friendly. |
Simulator | Yes. Free Options Simulator | Yes. Paid. |
Strategy BackTesting | Yes. Advanced BackTester with 25 Free BackTest Every Week | Yes. Basic BackTest and Paid |
Paper Trading | Yes | Yes |
Live Trading | Yes | Yes, but a limited option. |
Algo Trading | Yes | No. |
Broker Support | Yes, Integrated with 30 + Brokers | Only 1 broker supported. |
TradingView/Chartink/Python/Custom Code | Yes | No |
Charts | Straddle/Strangle/Multi Leg Advanced Charts | Basic Charts |
Option Greeks Analysis | Yes | Yes. |
Community & Support | Active community forum and dedicated support team | Limited community and support resources |
Learning Resources | Extensive blog posts, documents and options trading tutorials for free | Fewer learning resources are available |
Pricing | Cost-effective, starts with Rs. 299/- | Costly, starts at Rs. 1300/month |
Ease of Use | Designed for both beginners and experienced traders | Might have a steeper learning curve for beginners |
Platform | Web-based platform accessible from any device | Web-based platform |
Customer Reviews | Generally positive reviews highlighting backtesting capabilities and ease of use | Reviews may vary depending on user experience |
MTM Graph | Yes | No |
Customization | High degree of customization for strategies and analysis | Limited customization options |
Scalability | Scales to accommodate complex strategies with high-volume | Scalability features might be less developed |
Before diving into specifics, let’s consider the key factors algorithmic options traders prioritise:
For a clear comparison, let’s analyse these platforms across key aspects:
Here’s an in-depth Price Comparison Between AlgoTest and Opstra:
Price Comparison | |||
Basic (Feature) | AlgoTest ** | AlgoTest Plan (Monthly) | Opstra* |
Credits Pricing | – Starter: Rs 299 for 300 credits – Explorer: Rs 899 for 1000 credits (10% discount) – Pro: Rs 1999 for 2500 credits (20% discount) – Premier: Rs 4999 for 7500 credits (33% discount) | Monthly Premium Plan | INR 1,300 |
Credits Usage | – Live Trading: 100 credits per strategy per 28 days – Forward Testing: 50 credits per strategy per 28 days – Backtesting: 1 credit per backtest – Signals: 999 credits for 28 days or 4999 credits for 168 days | 6 Months Premium Plan | INR 6000 |
Live Trading | – 100 credits per strategy per 28 days – Pro-rata pricing: Cost decreases as the billing cycle progresses | Annual Premium Plan | INR 11000 |
Forward Testing | – 50 credits per strategy per 28 days – Pro-rata pricing: Cost decreases as the billing cycle progresses | * Other Details like Features are shown in the table below. | |
Backtesting | – Limited plans: No expiry – Unlimited Weekly: 799 credits for 7 days – Unlimited Monthly: 2499 credits for 28 days – Free Backtests: 25 per week – Paid Backtests: Rs 1 per backtest | ||
Signals | – 999 credits for 28 days (unlimited live trades and forward tests) – 4999 credits for 168 days (unlimited live trades and forward tests) | ||
Other Details | – Credits have no expiry – Unused free backtests do not accumulate |
**AlgoTest Features:
Feature | Description |
Backtesting Options | Enables free backtesting of options trading strategies for Banknifty, Nifty, Finnifty, Nifty Midcap, Sensex and Bankex in the Indian market. |
Paper Trading | Allows users to simulate trades without risking real money to test their strategies in real-market conditions. |
Live Trading | Facilitates execution of trading strategies in live market environments. |
Simulator | Provides a simulation environment to practice trading strategies in real-time market conditions. |
Strategy Builder | Offers tools to construct and customize trading strategies easily. |
TradingView/ChartInk Support | Integrates with TradingView and Chartink for automation of strategies. |
Instrument Settings | Allows customisation of different trading instruments to suit individual needs. |
Entry and Exit Timing | Provides precise control over the timing of trade entries and exits. |
Leg Builder | Facilitates the construction of complex trading strategies with multiple legs. |
Legwise Settings | Offers individual settings for each leg within a trading strategy. |
Re-Entry on Stop-Loss (SL) | Configures the system to re-enter trades based on predefined stop-loss criteria. |
User-Friendly Interface | Designed to be accessible for users with no coding skills, making it easy to use. |
Strategy Deployment | Enables users to deploy backtested trading strategies seamlessly. |
Documentation and Guides | Provides comprehensive documentation and tutorials to assist users in utilizing the platform effectively. |
As you can see from the comparison table, AlgoTest shines in several areas crucial for options traders:
While both AlgoTest and Opstra cater to help in trading efficiently, AlgoTest exhibits a clear focus on options trading. This focus translates into several advantages for options traders:
Ultimately, the best platform for you depends on your individual needs and experience level. If you’re an options trader seeking a platform specifically designed for backtesting, developing, and deploying options strategies, AlgoTest is a strong contender. Its user-friendly interface, powerful backtesting engine, and comprehensive features make it a valuable tool for both beginners and experienced options traders.
In conclusion, while both AlgoTest and Opstra cater to traders, AlgoTest stands out for its laser focus on options trading. With its user-friendly interface, robust backtesting engine, and feature-rich platform, AlgoTest empowers algorithmic options traders to achieve their goals.
Ready to take your options trading to the next level? Get started with AlgoTest today! Contact their customer care via email at [ support@algotest.in ] or call +91 9810156687 to learn more.
Introduction Algo trading, or algorithmic trading, has revolutionised the financial markets by leveraging advanced technology and data analytics to automate…
At AlgoTest, we proudly claim that 45% of our customers were profitable for the fiscal year 2023-24, a stark contrast…
Hello and welcome to the detailed pricing page for AlgoTest. You will find a breakdown of our pricing model here.…
What is Broker Speedtest? Broker Speedtest is a new aid for algo traders to assess and compare broker API responsiveness.…
Introduction Options trading can be lucrative for investors looking to diversify their portfolios and take advantage of market opportunities. However,…
Introducing Our New Error Handling Feature At AlgoTest, we're excited to announce a significant upgrade to our platform with the…
This website uses cookies.