With the advent of the internet, algo trading, also known as algorithmic trading, is making a lot of noise in finance. Its capacity to process massive data quantities is the reason behind its growing popularity. In 2022, the assessment of market size for international algorithmic trading was $2.03 billion. The estimation says by 2030, this number will reach a whopping $3.56 billion, registering a 7.2% compound annual growth rate.
The financial markets can trade at a blistering speed today thanks to this method. As a result, traders of the contemporary world are squeezing every drop of benefit from the multiple opportunities the market offers. Moreover, with crypto’s development, algorithmic trading’s complexity is increasing. But the extended demand has only led to the introduction of algo trading software. In today’s post, we will compare the top two platforms, Tradetron and SpeedBot.
How Does Algo Trading Work?
Algorithmic trading or automated trading employs a computer program that executes a specific algorithm or a set of commands for placing trades. Conceptually, a trade delivers profits at a pace that is manually impossible.
The algorithm depends on pricing, timing, mathematical model, and quantity. Automated trading is not only limited to generating profits. It increases liquidity in the market and systematizes trading. Moreover, it ensures the execution of trading activities is done without human emotions.
Algorithmic trading India is still an emerging approach. When it started in 2010 in India, it was solely used by brokers and financial institutions. However, there are infinite opportunities with the inception of APIs and electronic discount brokers.
An Overview of Tradetron and SpeedBot
As reported by Select USA of the total trading volume, 60 to 75 percent is algorithmic in American, European, and significant Asian finance markets. In India, however, this number is nearly 40 percent. This section will give you an overview of two popular applications for algorithmic trading.
Tradetron Trading App
Tradetron facilitates traders to develop strategies for automated trading without the need for coding. This cloud-based trading marketplace aims to authorize strategy creators and enable them to automatize strategies.
Traders can profit by selling these strategies globally to other traders and investors. Tradetron offers its own algo strategies based on expiry, fundamental analysis, quant, technical analysis, event, etc.
For the user’s comfort, Tradetron is an intuitive platform made for trading and delivers all kinds of asset classes, many communication methods, and currency exchanges. In addition, strategy creators can use this robust platform to develop trading algorithms with a web-based builder.
Features Of Tradetron
Tradetron delivers special features, which are as follows:
- Backtesting
- Keyword
- Wizard Creation
- Reports
- Executing logo
- Social trading
- Fund management
- Trading engine
Unique Selling Point
- It incorporates creating a language strategy and offers integration with many languages, including MQL, Python, VB, etc.
- The users can employ its drag-and-drop option to create an algo bot.
SpeedBot Trading App
Another smart way of investing in the stock market is by using SpeedBot. Same as Tradetron, it is cloud-based for algorithmic trading. It is a free and popular black box trading online platform. Whatever your trading requirements are, this trading app is a leading solution.
Moreover, regardless of your trading experience, you can use SpeedBot. An excellent tool for beginners, it offers opportunities to generate profits in the trading landscape. You will not need extensive proficiency in stocks, options, and future markets.
Further, SpeedBot is user-friendly, and its crisp presentation offers a means for automating trading. To establish and run a margin strategy, you will not need prior experience, as SpeedBot delivers features with no code strategy.
Besides new traders, SpeedBot works best for day traders, working professionals, trade analysts, and option and futures traders.
Features Of SpeedBot
- Backtest
- Reports with real-time analysis
- Statistics on individual bots
- Option trading
- Trading engine
- 2 click trading
- Custom bot created
- Stock screener
- Bot marketplace
- Trading from charts
You can rely on reports to review your strategies for trading and making investments. These work well for evaluating how well your investments are doing.
Unique Selling Points
- SpeedBot offers features for both execution and evaluation at a single location. You will not have to switch between multiple platforms to understand your investing strategies.
- The no-code builder for strategy enables inexperienced traders with no programming knowledge to create a future code together with option strategies.
- Users can enjoy its impeccable endways management. It means you will have numerous bots in a single account and an individual bot in numerous accounts.
A Detailed Comparison: Tradetron Vs. Speedboat
Now that you have an understanding of Tradetron and SpeedBot, it is time to draw a comparison and decide which will be the best option for you. We will list various parameters to help you understand where each option for the automated trading app stands.
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Integrations
If you have an existing broker, you must look for easy integration options. For example, Tradetron and SpeedBot offer multiple integrations.
In India, SpeedBot is a leading algorithmic trading app that offers connectivity from any location via mobile applications and the web. In addition, it features integration with well-known Indian platforms for booking. These include AngelOne, Kotak Securities, Zerodha, IIFL, 5Paisa, FlatTrade, etc.
For the American equity market, SpeedBot offers integration with the trader. You can integrate your trader account and immediately start trading in the US stock market.
Tradetron offers integration with multiple other applications. These include Alpaca, DigitalOcean, Zoh CRM, Influx, Amazon Web Services, Hootsuite, Prometheus, and Stripe. It also works efficiently with Enrich, Laravel Forge, RabbitMQ, FXCM, Tapfiliate, MariaDB, Mailgun, and more.
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Backtesting Engine
SpeedBot offers to backtest your existing trading strategies using old data. It offers exact and detailed results with the aid of multiple time horizons and the size of a candlestick on refined data. SpeedBot’s powerful software considers past data to create an extensive report on the accomplishment possibilities of a trading technique devoid of any error margin.
Tradetron also offers massive data of past records from corporate events, IV, every option, futures instrument cost data, HV, etc. It delivers every requirement for strategy testing and customizing until it is ready for forward testing. Tradetron offers three backtesting options, provided you have the worst, average, and best prices.
It will give you the confidence to enter live trades when your strategy displays good outcomes despite the execution of the worst price.
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Cost
Tradetron offers a free plan with a paper-trading mode. The subscription plans for auto trade for Indian exchanges start from INR 300, whereas the US exchanges start from USD 50. Other plans include Retail for INR 1200, Retail+ for INR 2500, Creator for INR 5K, and Creator+ for INR 15K.
The pricing plan for SpeedBot is simple to render all traders with the best technology. The free version offers ten backtests daily with no live or paper bots. The Basic plan costs INR 500 monthly and offers 150 backtesting daily with one live and three paper bots. Higher monthly pricing plans include Starter for INR 1K, Professional for INR 2500, and the Ultimate plan for INR 7K. You can also find annual pricing plans.
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Customer Support
One thing you cannot miss is paying attention to how well a company’s support services are and the various options they provide to reach out. It is because, supposedly, you face an issue with the platform, and the services must be able to offer quick solutions.
SpeedBot offers you around-the-clock online support. You can submit a ticket after entering the details regarding your name, contact, and email address. You can add a subject and give a detailed description of your query. You may also attach a file for extra information.
Tradetron also offers online support for customer services. You can use the live chat option or send messages through the contact page. They also offer a help desk that consists of all the necessary FAQs.
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Training Program
The execution of the training program for SpeedBot is done face-to-face. On the other hand, Tradetron offers documentation and webinars for the training program.
Supported Platform
Platform support allows you to access your algo trading platform from multiple devices. You can check your strategies using various platforms, making trading a whole lot better.
SpeedBot offers support for Android, iPhone, and iPad. For desktop users, it offers access via its web page. Tradetron also supports platforms such as iPad, Android, and iPhone. It also features a website page for desktop support. Further, it is supportive of Windows and SaaS.
Conclusion
There are specific parameters that you must take into account when selecting a suitable trading platform. However, no platform for algorithmic trading is perfect. Both applications have their own set of unique features and trading methods.
When selecting an app, it depends on the trader or investor and their preferences. If you are looking for a beginner-friendly option, SpeedBot offers user-friendly features. It also aims to deliver a single location for trading and evaluation. Tradetron also offers extensive features and integrations. Tradetron focuses more on automation and ensures to automate your trading strategies completely.