The world of finance is undergoing a digital transformation, and algorithmic trading (algo-trading) is one of the driving forces behind this shift. Imagine a world where your trading decisions are executed precisely and quickly, free from emotional biases. Algo-trading platforms empower you to do just that, by allowing you to design, test, and deploy automated strategies.
But with many platforms vying for your attention, selecting the perfect one can feel overwhelming. Today, we’ll compare two prominent players: AlgoTest ( Algo-trading platform)and Sensibull (non-Algo trading platform). Let’s get started.
Feature | AlgoTest | Sensibull |
Founded | 2021 | 2017 |
User Interface | Easy-to-use algo and discretionary trading platform with advanced features. NO CODING REQUIRED. | User-friendly interface with drag-and-drop options for strategy creation. |
Strategy Creation | Yes | Yes |
Index Instrument | Nifty, BankNifty, Finnifty, Sensex, Bankex & Midcpnifty | Nifty, BankNifty & Finnifty. |
Backtesting | Yes Provides extensive backtesting using historical data without coding. | No Lacks backtesting capabilities. |
Backtesting data | Backtesting data available since 2017 | Not Available. |
Strategy Customization | Deep customization without writing code. | Limited customization options. |
Paper Trading | Yes | Yes |
Automation and Execution | Fully automated execution. | No. |
Strategy Builder | Yes | Yes |
Simulator | Yes | No |
Visualisation Tools | The comprehensive suite of charting and graphing tools | Limited visualisation options |
TradingView/Chartink Integration | Yes | No |
Webhook support | Yes | No |
Brokers supported | 30+ Brokers Integrated | Limited Brokers |
Pricing | More affordable plans start at ₹299 per month and the Free plan has 25 weekly backtests every Monday upon sign-up. | Offers free and paid plans. But it’s pricier plans starting at ₹800 per month. |
Free Plan | Yes | Yes (limited features) |
Educational Resources | Documentation, tutorial videos, and informative blogs. | Extensive resources are available. |
Community & Support | Active community of 12k+ traders and dedicated support team | Limited community features. |
Founded in India, AlgoTest is a web-based platform designed to cater to the needs of traders of all experience levels. It boasts a user-friendly interface and robust set of features, making it an attractive option for beginners and seasoned algo-traders.
Sensibull is a prominent player in option trading tools, focusing mainly on option trading in India. It helps you create, visualise, and execute your option strategies with a drag-and-drop interface.
While both platforms offer valuable features, AlgoTest emerges as a compelling choice for several reasons:
Choosing the right algo-trading platform depends on your specific needs and trading style. If you’re an options-focused trader, Sensibull’s user-friendly interface and options-centric features might be appealing. However, for traders seeking a more versatile and affordable platform with robust backtesting, customization options, and a supportive community, AlgoTest appears to be the stronger contender.
Ultimately, the best way to decide is to take advantage of the free plans offered by both platforms. Explore their features, test-drive their interfaces, and see which one resonates with you. Remember, the ideal platform empowers you to confidently design, test, and deploy your trading strategies, giving you a solid foundation for success in the ever-evolving world of algo-trading.
1. Is AlgoTest suitable for beginners?
– Yes, AlgoTest is designed to be user-friendly and offers tutorials and resources for beginners.
2. What types of strategies can I test on AlgoTest?
– You can test a wide range of strategies, including technical, fundamental, and quantitative strategies. The platform supports various asset classes, including index futures, and options.
3. Can I do Algo Trading in AlgoTest?
-Yes, AlgoTest enables users to easily automate their strategy through a simple drag-and-drop environment.
4. What support options are available for AlgoTest users?
– AlgoTest provides various support options, including tutorials, documentation, and customer support through email or chat. We also have community forums for peer support.
5. How secure is my data on AlgoTest?
– AlgoTest takes data security seriously and implements various measures to protect user data, including encryption and secure data storage.
6. Can I integrate AlgoTest with other trading platforms?
-AlgoTest may offer API integrations or compatibility with specific brokers and trading platforms, enabling users to easily implement their optimised strategies.
7. Does Sensibull offer a mobile app?
– Yes, Sensibull provides a mobile app for both iOS and Android, allowing users to access their accounts and trade on the go.
8. What kind of support does Sensibull offer?
Sensibull provides customer support through chat and email only.
9. I’m a complete beginner. Is AlgoTest or Sensibull a better fit for me?
– Both platforms offer educational resources, but AlgoTest’s wider focus and potentially lower pricing might make it a more beginner-friendly option. Additionally, their active community can be a valuable resource for learning the ropes.
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