I currently use odin
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Interesting.
I’ve used both ODIN, and NEST. I think the data feed latency in NEST is a wee bit better. Besides, NEST has a better trader friendly user interface.
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One of the main advantage of Now/NestTrader over ODIN is that most of the discount brokerages only support Now/NestTrader. Don’t know of any discount broker supporting ODIN. So if you want to save on brokerage Now/NestTrader are the only options available.
As Karthik mentioned, Now has the least latency compared to NestTrader and ODIN.
For all practical purposes, Now and NestTrader are similar except that you cannot trade on commodity from Now. Some brokers don’t allow BSE trading from NOW while others charge extra to trade on BSE. So if you want to trade in all markets on all segments with a discount broker then NestTrader is the only option.
From user friendly perspective, both Odin and Now/NestTrader are quiet user friendly and have short cut keys. There is one thing where ODIN scores over Now/NestTrader is one does not have to select product type before placing the order. Yes there are ways to set default product types in Now/NestTrader but they have their own set of issues.
ODIN supports multiple market depth windows while Now/NestTrader only allow one (or max 2 with a workaround).
Internet disconnection issues - Now/NestTrader auto-reconnect while ODIN logs off immediately. One limitation of Now is there is no way to change the session time-out.
Technical Analysis perspective, both Odin and Now/NestTrader have very good features and set of indicators and both do miss some critical indicators. SuperTrend is missing in Now/NestTrader while advanced chart types like Three Line break are missing in ODIN. (Even ShareKhan TradeTiger does not have these advanced chart types). One good thing about ODIN charts is that they support replay.
We can create custom indicators in ODIN which is not possible in Now/NestTrader.
Technical Screening and Scanning is better in ODIN. One can run it only multiple scripts/entire portfolio. In Now/NestTrader one has to run it individually on each script. Even alerts and events are slightly better in ODIN then Now/NestTrader.
Now/NestTrader does support additional plug-ins, java/c# apis etc. Not sure if these are available in ODIN.
ZerodhaTrader (customized version of NestTrader from Zerodha) has additional features like Back-Testing, Semi Algo Trading, Bracket Orders all of which are missing in ODIN.
The above are my personal opinions based on personal use/experience of the features that I use/like from the terminals supplied by brokers. There could be additional differences as well.
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Thanks Ajay, very comprehensive, elaborate explanation. Thanks…
Very comprehensive explanation by Ajay.
Thank you N.