AlgoTest vs. Waya | SEBI Registered RA Platform That Works in 2026
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
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 the first few days, forward tests, and custom backtests
Related: Automate SEBI Registered Analyst Strategies (No Coding Algo Trading)
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?
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.
Read our RA Algos doc to learn how to choose, test, and automate a SEBI Reg. RA strategy.
What About Costs?
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
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."
AlgoTest offers a Crypto Marketplace too, backtest, paper trade, and deploy expert-created strategies for free, learn more about the AlgoTest strategy marketplace here.
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.
Related: AlgoTest vs. Stratzy | Which One Better for SEBI Registered RAs' Algos?
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.