Algo trading misuse by the vendor

Algos, strategies, code
1

@nithin

@siva-reddy

there are many algo software providers/vendors available in the market .
some of them may also have tie-up with zerodha .

these algo softwares require us to fill our login id , passwords , API key etc for the connection and bridge ….

my question is : how safe and secure is this to reveal our login credentials to the third party vendor software ? is there any chance that the vendor / software provider company can access/read/get to know our login credentials from the backend and may misuse the information ?

@vishnux
@Karthik

2

Usually your password is not shared with the vendor. Only a token is shared which says that you’re verified.

3

without sharing the password to the algo system ; auto-execution in algo not possible !!

4

See this how Kite API handles authentication

https://kite.trade/docs/connect/v3/user/

5

No one will ask username password…they will ask kite api secret… While it’s necessary…avoid giving it to anyone…it’s same like giving ur password…their algo can place any orders on ur account… lots of misuses can happen

6

Should not reveal to anyone, we do not advice to do so.

7

How does it differ from using the same credentials for sensibul and streak ?? .

How we know that our credentials are not misused by sensibul and streak ?

1 Like
8

@siva-reddy
@vishnux

If this is so then how do we do algo trading?

9

Auto trading is not allowed in india , you need NSE approval…

10

I think fully algo not allowed but semi algo is permitted!
What do u say now ?

11

newbie question…

If Algo trading is not allowed, then how come streak has an option to deploy our algorithm to trade realtime?