Which software is the BEST for algo based trading - Amibroker, MT4/5 , SPIDER , NINJA or any other?


MT4, based on the popularity, user interface and flexibility. Easier to code and http://www.mql5.com/en/forum, the forefront forum on the same. As the number of MT4 users and participants in the forum are really huge, its easier to get the queries resolved. Backtest option also is really cool one

Thanks niranjan. However I’ve heard that it is not as flexible as amibroker atleast for the FNO segment. There is still a perception that its the best for FOREX however not very useful for other segments. Hence I wanted to know if they have improved or have they made changes in MT5

All the platforms that you have mentioned are charting platforms (other than MT4/5) and not trading platforms. Hence none of them are ideal for automating trades.

MT4/5 is amazing to automate trades, but they are not really exchange friendly in the sense MT4/5 is mostly used to trade forex and CFD’s, so they are very tough to be integrated with the Indian exchanges.

The best way to automate trades in India presently is to get API access from a broker, and write the strategy using JAVA, DOTNET or C++, get the approval from the exchange and use the API to place buy/sell orders. But yeah, this requires a person to know programming or know someone who knows to code.


Is it allowed for retail investor to use Algo Trading at all? I was under the impression that it needs approval from NSE/SEBI.

Does Zerodha provide any API access?

Are the companies providing ALGO trading platforms earning money by using their own platforms or just by selling them to people ? ? ?

Ting Ting !

Auto trading is like gearless bikes or cars. Strategy based manual trading is like geared ones. Which ones are more fuel efficient?

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Isn’t getting data into MT5 difficult, as i couldn’t find any plugin available for it. Unlike AMI which can pull the data from google finance.

Retail is not allowed, but if you register as an Authorized person through Zerodha or any other broker on the exchange, you can get access to dealer terminals, and with dealer terminal access you can automate. We will give the API access for a cost, but you need to get the strategy approved by the exchange(NSE)