Top 10 Algorithmic Trading Platforms in India

As per industry reports, the global algorithmic trading market size is expected to grow with a CAGR of 11.1 %, from USD 11.1 billion in 2019 to USD 18.8 billion by 2024. This herculean projection can be attributed to various factors like demand for fast and effective order execution, lesser cost of transactions, increasing government regulations, and growing demand for market surveillance.

Almost a decade ago, India also witnessed a huge shift towards algorithmic trading when the Securities & Exchange Board of India (SEBI) allowed stockbrokers to provide Direct Market Access (DMA) to their institutional clients. This can be considered as the arrival of algorithmic trading (AT) in India. Furthermore, since this was introduced during the global recession, the entire banking and the securities market was rallied by the introduction of DMA. 

Furthermore, algorithmic trading is no longer solely the turf of institutional traders, brokers, and large fund houses. In fact, retail investors are now buying into the idea; quite a few discount brokerages and startups have already started offering them algorithmic trading platforms. It evident that algorithmic trading has marked the dawn of a new age for markets; however, its advantages are not quite fully appreciated yet. Getting comfortable with this new type of trading is likely to yield superior results. What’s more, algo trading, as it’s colloquially referred to, is now deemed necessary for ensuring survival in the financial markets of the near future; it makes sense if you consider that automation is where trading and dealing are headed in the years to come.

So, in today’s story, let's take a look at the startups that are providing algorithmic trading solutions for retail investors and assisting them further to adopt and foster a ‘DIY’ culture.

  1. AlgoMerchant (Funding: $2.91 million): AlgoMerchant allows algorithmic trading, or black-box trading, which uses advanced mathematical models to make transaction decisions. The robo-investing platform identifies algorithms built by third-party quants or mathematics experts and further validates & refines them to integrate them into their robots.​ It has developed investment robots that can work out trading and investment strategies and execute them on behalf of users (retail investors). ​It offers six robot creations – each with a different trading philosophy for investing in Singapore, Hong Kong, and the United States stock markets​.
  2. Streak (Funding: $1.35 million): Streak offers a no-coding platform that can track the market for users based on back-tested strategies, and alerts them about the generation of right signals. It allows users to create algorithms by providing technical indicators, stop loss, target profit percentages; users can select the stocks they want to trade with. ​Users can add up to five conditions for their entire strategy and create optional exit conditioners by using technical indicators. ​It also offers streak boats, that can track the stock movements for trade signals and sends one-click actionable alerts to the users’ phone when their strategy conditions are met. 
  3. Tradeworks (Funding: $1.3 million): Tradeworks is a Copenhagen and Singapore-based broker-neutral trade automation platform. The user interface also allows traders to build strategies without any programming skills. The platform allows users to design, test, run, and analyze their algorithmic trading strategies. It offers an in-app template strategy library where traders can find ready-made strategies and their performance over the past 5, 30, or 90 days. ​The strategies are available for free and can be used by traders across their personal Tradeworks profile. ​
  4. Sensibull (Funding: $357K): Sensibull is an options trading platform that provides the best options strategies for users to engage in trade. Sensibull enables users to compare options of two or more trades by comparing and viewing the P&L in various scenarios. ​Users can further obtain spot, dates, etc. to view the best available options for trading. ​It provides insights about events that can affect a trade, thereby helping users to understand the rights and wrongs of a trade. ​It also offers an Events Calendar that helps users to keep track of all important dates like quarterly results announcement, RBI policies, etc. ​
  5. Kuants (Funding: $100K): Kuants offers an online stock simulator for Indian investors that enables them to formulate, back-test, and execute quantitative trading strategies. It offers a code-free algorithm trading platform that can be used by anyone without the need of acquiring any computer programming skills set. ​It also provides support for developing advanced trading strategies.
  6. Presto ATS by Symphony FinTech (Unfunded): Presto ATS enables users to automate their trade executions. The comprehensive platform enables users to design, test, deploy, execute, and monitor fully automated trading or execution algorithms by leveraging asset classes that are available in Indian exchanges. With Presto’s framework, users can deploy their algos with live market data and direct market access (DMA). 
  7. Trade Rays (Unfunded): Trade Rays offers an artificial intelligence-powered algo trading platform BeATS (Beam Algo Trading System) which allows retail traders to launch algo strategies live in minutes without any coding. ​The HTML5 algo trading platform offers strategy customization and advanced backtesting to help users invest their money in stocks. ​The intuitive AI trading platform is compatible with the web (BeATS Web), mobile (BeATS Mobile), and tablet; it requires no upfront setup or coding. ​ The cloud-based algo trading system also facilitates order placement and monitoring of unbiased price trend changes.​
  8. AlgoFront (Unfunded): Created by Samssara Capital Technologies LLP, Algo Front is an automated trading platform that utilizes systematic quantitative trading strategies for managing futures. It leverages multiple time frames and moving averages to identify short-term trends in the NIFTY and BANKNIFTY futures. ​​The trading strategies become conservative in nature for a sluggish market and adopts an aggressive approach during the trending phases.​
  9. Squareoff (Unfunded): SquareOff is an algo trading startup that provides managed account service for automating trading decisions. The algo trading platform enables users to replicate its quantitative trading strategies through their demat account. ​The proprietary platform predicts when to trade/invest in markets without any manual intervention from the customer. ​The automatic trade is directly executed in the customer's account. ​
  10. Rupeeseed (Unfunded): Rupeeseed provides end-to-end trading solutions that include an order management system, risk management system, and mobile & web trading terminals for clients, and dealers. Rupeeseed’s robo trading platform RupeeRobo, can generate orders, monitor positions, and manage risk & profits in real time. ​Users can develop, back-test, and deploy their trading strategies in the live market. ​It further helps traders to automate complex, quantitative trading strategies in forex, options, futures, stocks, and commodities markets. ​It leverages smartphones and open-source analytics components to generate timely alerts and convert them into actions.