When it comes to stock recommendations and strategy execution, there’s no shortage of platforms claiming to offer high returns with minimal effort. But how many of these are SEBI-registered? And more importantly, how many actually work?
In this post, we compare two such platforms: Waya, a mobile-first advisory app offering stock picks and multibagger ideas, and RA Algos by AlgoTest, a full-stack algo trading software where SEBI-registered Research Analysts list their strategies.
Let’s break it down.
Feature-by-Feature Breakdown
Feature | AlgoTest – RA Algos | Waya |
|---|---|---|
Platform Type | Marketplace of SEBI Registered RAs | In-house SEBI RA (Waya Financial Technologies Pvt. Ltd.) |
Strategy Structure | Individual, backtestable strategies | Fixed model portfolios |
Backtesting Reports | Available, 25 Free every week | Not visible or accessible |
Forward Testing | Available, free for first few days | None |
Algo Execution | Broker-integrated, multi-broker support | Not available |
Slippage, Tax, Brokerage | Always shown in reports | Only gross performance snapshots |
Instruments Supported | Index F&O, Stocks F&O, Stocks | Only Stocks (F&O limited to premium tier) |
What Sets RA Algos by AlgoTest Apart
Full Audit Trail, Not Just Claims
Waya shows theoretical CAGR; AlgoTest gives:
- Complete backtest report
- Forward test trade logs
- Breakdown of each trade with slippage, costs, and brokerage
Test Before You Trust
- Waya: No free testing, no real visibility before subscribing
- AlgoTest: Free for First few days forward tests and custom backtests
Actual Trading Tools, Not Just Ideas
- AlgoTest is built for traders: real-time execution, slippage tracking, complete automation.
- Waya remains a passive advisory layer with limited delayed insights.
Which One Is Right for You?
Decision Criteria | AlgoTest RA Algos | Waya |
|---|---|---|
Want to verify performance per trade | ✅ Yes | ❌ No |
Want flexibility across RAs & strategies | ✅ Yes | ❌ No |
Want automation or multi-broker execution | ✅ Yes | ❌ No |
Want slippage & cost-inclusive P&L | ✅ Yes | ❌ No |
What Is Waya?
Waya is a mobile app that offers buy/sell/hold stock recommendations, focusing on both short-term swing trades and long-term multibagger portfolios.
They promise things like:
“Make 10% in 30 days” (for swing calls)
“3x–10x returns in 30 months” (for multibaggers)
While Waya is SEBI-registered (INH000010876), the platform operates mostly as a black-box, you get stock calls, but you don’t see the logic, reasoning, or backtests behind them.
You’re essentially trusting the advisor. You can follow the calls manually via your broker, or invest in their Smallcase portfolios for an additional fee.
What Is RA Algos by AlgoTest?
AlgoTest is a no-code algo trading software built for retail traders who want transparency, control, and automation.
Here’s what sets it apart:
Live strategies from SEBI-registered Research Analysts
Fully backtested with trade logs, drawdowns & slippage-adjusted returns
Forward testing & paper trading support
One-click broker integration (Dhan, Upstox, Zerodha, etc.)
Real capital deployment
Portfolio building & optimization across strategies
Rather than giving you a single “stock tip,” AlgoTest gives you full control to backtest and stress test your strategy.
What About Costs?
Platform | Access Type | Typical Pricing |
|---|---|---|
Waya | Mobile App + Smallcase | ₹999/qtr or ₹1499/year + Smallcase fees |
AlgoTest | Web + Live Trading | INR 100/execution, plan starts from INR 500 |
What Is Backtesting vs. Forward Testing?
Before you put real money into any strategy, you want to know: Has this worked in the past? And is it working now?
That’s where backtesting and forward testing come in:
Backtesting
Backtesting means testing a strategy on past market data. For example:
What if I traded this strategy from Jan 2018 to Dec 2023?
What was the win rate, drawdown, and profit?
This helps identify if the strategy is fundamentally sound and worth considering.
Forward Testing
Forward testing shows you how a strategy is performing in the live market right now, using virtual or real trades. It's like paper trading:
You get daily performance updates.
You see if the strategy is still holding up in current conditions.
AlgoTest shows both. You can see a strategy’s historical performance (backtest) and how it’s doing today (forward test). Waya, on the other hand, gives you stock tips but doesn’t show you how previous tips have played out, unless you manually track them.
TL;DR
Category | Winner |
|---|---|
Transparency | AlgoTest |
Strategy Access | AlgoTest |
RA Registration | Tie |
Broker Integration | AlgoTest |
Portfolio Creation | AlgoTest |
Backtest + Forward Test | AlgoTest |
Mobile-first Simplicity | Waya |
So, Which One Should You Pick?
If you want stock tips in a mobile app with little context, and don’t mind a black-box system: Waya can work as a lightweight option.
But if you’re serious about strategy-level investing, want full transparency, and want to deploy live trades with real brokers: AlgoTest is the platform that actually works.
Why AlgoTest RA Algos Exists
We launched RA Algos because we saw too many platforms promise returns without accountability.
- We don’t promise 90% accuracy.
- We show you actual trade logs.
- We work only with verified SEBI Registered RAs.
- We empower you to test, execute, and optimize — without hidden data.
"Waya sells comfort. AlgoTest delivers control."
FAQs
Is Waya SEBI Compliant?
Waya is a SEBI Registered RA.
Can I automate strategies on Waya?
No. Waya does not offer automation, algo execution, or forward testing.
Can I try AlgoTest before paying?
Yes. You get free forward tests and visible backtest reports for each strategy.
Is AlgoTest also SEBI Registered?
AlgoTest is a tech platform. Every strategy listed is built and published by a SEBI Registered RA.
Final Verdict
If you want:
- A hands-on investing experience
- Verifiable trade data
- Tools that scale with your experience
Choose RA Algos by AlgoTest, if you want:
- A basic portfolio without explanation or control
- Passive investing with no insights
You’ll probably prefer Waya.
✅ The choice is yours. Just make sure it’s informed.
To check other similar platforms, head over to this article.
