As a market player, who has a large stake in the financial market, it is vital to choose a stable trading platform. Two such platforms out of many platforms that are becoming much talked about are Streak and Sensibull. This article will be looking at the similarities and differences between the two trading platforms to help in your decision-making.
Introduction
Modern-day financial markets are a territory where it is all about quick modifications with technology taking the lead as the driving force behind the changes in trade practices. Technical trading largely became the norm with the advent of algorithmic trading, where the traders gained speed, accuracy, and discipline as the key benefits of this development. Within the gamut of such platforms, Streak and Sensibull are more or less likely to stand out solely because of their exclusive characteristics and user-friendly interfaces.
Here’s a brief comparison of Streak and Sensibull alongside AlgoTest–
| Aspect | Streak | Sensibull | AlgoTest |
| Type | Web-based | Web-based | Web-based |
| Founded Year | 2017 | 2017 | 2021 |
| Backtesting | Yes, technical analysis-based strategies | No, it doesn’t support backtesting | Yes, you can backtest your strategies on the past 7 years + historical data. |
| Paper-Trading | Yes | Yes | Yes |
| Automation | Semi-automated | No Automation | Fully Automated |
| Indicator-based-strategy deployment | Yes | No | Yes |
| Simulator | No | No | Yes |
| Analyser | No | Yes | Yes |
| Cost | Starts at INR 690/month | Pricing details are available on their website | Free with a powerful simulator for options trading |
| Broker Integration | 5+ brokers across India | 6+ brokers across in India | 25+ Brokers across India |
| Unique Features | API integrations, multi-exchange support | Custom scanners for profitable opportunities | Easy-to-use, backtesting, forward testing, charts, analyzer, live trade, simulator, and signals. |
| User Community | Active community of traders and developers | Growing user base | A community of 7000+ active traders on the Telegram group. Link https://telegram.me/AlgoTest_In |
| Educational Resources | Webinars, tutorials, and documentation | Learning resources available | A lot of tutorials are available. Documentation:- docs.algotest.in YouTube:- https://www.youtube.com/@AlgoTestBlogs:- Visit here. |
| Customer Support | Email and chat support | Customer support available | Customer support available |
Streak: An Overview
Streak is a unique tool that enables traders to build, backtest, and semi-automate live trading strategies without the need for coding skills. It empowers traders to do anything without writing such as algorithm development, implementation, and trading deployment without coding skills at all.
Key Features of Streak
- Algorithmic Trading: Streak enables traders to implement semi-automatic deployment tactics based on technical indicators and chart patterns.
- Backtesting: Streak provides an efficient backtesting engine that allows traders to validate their strategies using historical data.
- Alerts and Notifications: Traders can set up alerts for specific market conditions and receive real-time notifications.
- Support for Multiple Markets: Streak supports trading in equity, futures, and currency markets.
Sensibull: An Overview
In comparison, Sensibull is a robust options trading platform encompassing current options trading. It provides different types of instruments that are meant to help investors value their stocks well. It also offers traders an array of trading tools to help with making sound trading decisions.
Key Features of Sensibull
- Strategy Builder: Sensibull, as we have seen before, is a trading platform that hosts an amazing strategy builder that lets traders build and also analyze their complex option strategies.
- Virtual Portfolios: Traders can now create simulated portfolios to track and assess their trades correctly.
- Option Chain: Sensibull educates investors with an advanced option chain that displays live data so investor decision is taken appropriately.
- Open Interest Analysis: The Sensibull platform offers technical features whereby traders can view the open interest data for different strikes and expiries among others to help them gauge market sentiments.
Streak vs Sensibull: A Detailed Comparison
Now that we have a basic understanding of both platforms, let’s get into a detailed comparison between Streak and Sensibull.
Trading Features
All platforms have their individual characteristics, but the uses they serve are generally divergent. Streak indeed excels at algorithmic trading, as well as backtesting, which further speaks to the relevance of this app for those traders who largely resort to technical analysis and automated strategies. While Sensibull undoubtedly has its upsides, the options trading tool kit is the area in which it really shines: comprehensive functionality ranging from option strategy builder to virtual portfolios and detailed options chain data.
Market Support
Streak supports trading in equity, futures, and currency markets. However, it does support option contracts. Sensibull, on the other hand, is purely a future and options trading platform.
User Interface
Streak as well as Sensibull provide easy-to-use experiences with convenient navigation. While Streak’s appearance is simpler and rather straightforward, Sensibull goes further with detailed market info and sophisticated strategies.
Pricing
Both Streak and Sensibull offer free and premium plans. Streak’s premium plans start from ₹552 per month, while Sensibull’s premium plans start from ₹800 per month. The premium plans offer additional features like higher backtest limits, priority support, and access to premium features.
User Reviews
User reviews for both platforms are generally positive. Streak users appreciate its simplicity and ease of use, while Sensibull users praise its comprehensive options trading tools and detailed market data.
Why does AlgoTest stand out as a powerful tool for algo-trading?
- Live Trade Automation: AlgoTest empowers you to execute your trading strategies seamlessly in real-time across 25+ brokers. Imagine the convenience of managing all your trades from a centralized platform.
- Paper Trading: AlgoTest offers an exceptional paper trading environment. Here, you can practice and fine-tune your strategies without any actual financial risk. It’s like a sandbox where you can learn, experiment, and build confidence before diving into live trading.
- User-Friendly Interface: AlgoTest’s interface is designed to cater to traders of all skill levels. Whether you’re a seasoned pro or a beginner, you’ll find it easy to navigate and utilize the platform effectively.
- Real-Time Monitoring: Keep a close eye on your trading performance with AlgoTest’s real-time monitoring tools. Stay informed about your profits, losses, and overall strategy health as the market moves.
- Swift Execution: AlgoTest ensures fast execution of your trading strategies. When timing matters, you can rely on its efficiency to act swiftly.
- Flexible Pricing: AlgoTest operates on a credit-based system, allowing you to add credits as needed. Plus, during sign-up, you’ll receive 25 free backtests every week. This flexibility ensures you get the most out of your trading experience.
Remember, AlgoTest isn’t just a tool; it’s your ally in navigating the ever-changing world of algorithmic trading. So, sign-up now.
Conclusion
Finally, the Streak or Sensibull choice will depend on your trading style. If you are an active trader who is looking for an easy-to-use semi-automatic platform for algorithmic trading, then Streak is one of your best options. However, if you are an options trader who is looking for a thorough platform with advanced tools and highly detailed market data, Sensibull is the way to go.
However, if you want a platform where you can backtest, paper trade, and fully automate your strategies in a simple and cost-efficient way, then you can go with AlgoTest.
Recall, that a good trading platform is the one that suits your trading style and adheres to your individual needs. So, choose wisely!
FAQ
1. Does AlgoTest allow for backtesting on historical data?
Ans: Yes, AlgoTest allows for backtesting on 7 years of historical market data.
2. Does Algotest allow for paper trading?
Ans: Yes, you can paper trade on slightly delayed market data.
3. How does the pricing of Streak/Sensibull/AlgoTest compare?
Ans: Streak’s plans start at ₹690/month, Sensibull’s start at ₹800/month while AlgoTest plans start at ₹299 only.
4. Does Algotest allow fully automated Algo-Trading?
Ans: Yes
5. Can we deploy Indicator-based-strategy on AlgoTest?
Ans: Yes
6. Do I need to keep the AlgoTest website and broker app open after the live-deployment strategy?
Ans: No, you don’t need to keep your AlgoTest website and broker app open. Your strategies are deployed on cloud servers; they will work even if your device is turned off.
