Frequently Asked
Questions
What Is MyAlgoTrade?
MyAlgoTrade is an AI based, trading platform that allows traders to create, backtest, and deploy trading strategies without coding, using seamless broker API connectivity.
What Is the Vision of Founders Behind MyAlgoTrade?
The vision behind MyAlgoTrade is to provide pay per use algo trading platform in India by offering a powerful, reliable, and user-friendly automation platform accessible to retail traders, professionals, and institutions.
Is Algo Trading Legal in India through MyAlgoTrade?
Yes, algo trading is fully legal in India, and MyAlgoTrade operates within the regulatory framework defined by SEBI and stock exchanges.
Is MyAlgoTrade SEBI/Exchange Approved?
MyAlgoTrade follows all API trading guidelines provided by SEBI brokers and exchanges, but like most retail algo platforms, MyAlgoTrade itself does not require direct SEBI approval since execution happens via broker APIs. We do not provide any strategies nor trading ideas.
Do I Need Coding Skills to Use MyAlgoTrade?
No, you do not need coding skills to use MyAlgoTrade, as the platform provides a simple rule-based strategy builder and easy configuration options with a variety of chart based customizable indicators where a user can build deploy and delegate their trading strategies within few minutes with facility of back testing on immediate basis without any coding.
How Does MyAlgoTrade Integrate API?
MyAlgoTrade integrates broker APIs using secure, encrypted connections, enabling automated order execution, data streaming, and portfolio updates in real time user has to login daily on the platform by web based terminal or through mobile app.
What Is Strategy Backtesting on MyAlgoTrade?
Backtesting on MyAlgoTrade allows users to test strategies on historical market data to analyze performance metrics like returns, drawdowns, win rate, and risk.
What Is Basket Backtesting in MyAlgoTrade?
Basket backtesting in MyAlgoTrade enables users to test multiple strategies together under the same basket to understand combined performance. For this user has to back test stategy first on my algo trade platform then run backtest basket
How Accurate Are Backtesting Results in MyAlgoTrade?
Accuracy of back testing on my algo trade platform may vary with the actual results as it’s a data of only close price of every minute on historical charts. Actual high /low are not marked during back testing its just a general idea which implicates performance with an accuracy of not more than 50%.
How Accurate Is Paper Trading on MyAlgoTrade?
Paper trading on MyAlgoTrade is accurate upto 75% and simulates live trades in real-time with market-based prices, though slippage and brokerage may differ from actual execution.
What Kind of Risk Management Features Are Available in MyAlgoTrade?
MyAlgoTrade offers risk management tools like stop-loss, master target, trailing SL, position sizing, max drawdown control, and portfolio-level risk limits. All such setting can be customized by the user.
Will I Face Slippage on Trade Execution with MyAlgoTrade?
My algo trade triggers the trade as per LTP and client specific execution rates. Depending upon the trade execution speed in OPS from broker end trade get executed. Minor slippage may occur while executing trades through API but we have least slippage in the industry with facilities like ultra fast trade execution through dedicated premium servers.
What Is the Order Execution Speed of This Algo Platform?
MyAlgoTrade offers fast and stable execution servers designed to minimize latency and enable quick trade execution via broker APIs order execution speed depend upon the broker mapped. In India only m stock have upto 30 OPS execution speed rest every broker is capped at 10 OPS.
How Many Exchanges Can Be Traded Using the Platform of MyAlgoTrade?
MyAlgoTrade supports multiple exchanges including NSE, BSE and MCX, depending on your broker's API availability and integration with my algo trade for automation.
How Can I Create Custom Strategies on MyAlgoTrade?
You can create custom strategies on MyAlgoTrade using the strategy builder by selecting indicators, conditions, timeframes, and order rules. We do have ready to use (after minor customization) educational templates to build strategy.
Can I Modify a Strategy That Is Already Created?
Yes, any existing strategy on MyAlgoTrade can be modified, updated, or cloned at any time by clicking the modify option.
Does MyAlgoTrade Code Strategies Provided by Customers?
Yes, MyAlgoTrade provides custom strategy coding services for users who need advanced or personalized algo development. For this we need strategy document by the client then our in house professional team shall quote the rates for custom coding and strategy deployment on per case basis.
How Can I Modify a Basket That Is Already Created in MyAlgoTrade?
Baskets in MyAlgoTrade can be edited easily by adjusting instruments, quantities, or strategy assignments from the basket management section.
Can a Customer Build a Long-Term Investment Portfolio on MyAlgoTrade?
Yes, MyAlgoTrade allows customers to create automated long-term investment portfolios using custom rules or periodic rebalancing.
How Does MyAlgoTrade Integrate with Brokers?
MyAlgoTrade connects with brokers using secure API authentication, enabling automated execution, order tracking, and real-time data flow. This require daily login by client on our web based terminal or in mobile application.
How Many Brokers Are Empanelled with MyAlgoTrade?
MyAlgoTrade supports multiple reputed brokers, and the list keeps expanding based on partnerships and API availability. As on date we have more than 90+ brokers empanelled with us.
How Can We Connect a Broker That Is Not Empanelled in MyAlgoTrade?
If a broker is not empanelled, you can request integration, and MyAlgoTrade will coordinate with the broker to add API support if possible. For this client has to provide the API documentation of the broker and our team will assist in hassle free integration on this case.
How to Get API Secret Key and App Key from a Stock Broker in MyAlgoTrade?
API keys can be obtained directly from your broker’s developer portal, and they can be entered in the MyAlgoTrade broker-connect section. This is a onetime process only daily login shall be required by customer post this to use our platform.
What Is the Minimum Recharge Amount for MyAlgoTrade?
The minimum recharge amount on My Algo Trade is 500 Rs and above it any amount can be processed by our payment gateway with multiple Payment option available.
What Are the Platform Charges/Execution Charges with MyAlgoTrade?
MyAlgoTrade charges usage-based fees depending on strategy execution, server type, or advanced features used.
Live trade | Paper trade | Back testing | Custom strategy development | |||
NORMAL SERVER | PREMIUM SERVER | NORMAL SERVER | PREMIUM SERVER | STRATEGY | BASKET | AS PER STRATEGY |
RS 10 PER LOT | RS 15 PER LOT | RS. 2 PER LOT | RS 3 PER LOT | RS 0.25 PER DAY | RS. 2.5 PER STRATEGY | |
Are There Any Discounts Available with MyAlgoTrade?
Yes, MyAlgoTrade offers occasional promotions, festival discounts, for recharge amount above 10,000 on single transaction. Details of this are available under service charge section at our website.
Are the Charges/Fees Charged by MyAlgoTrade Refundable?
No, charges paid to MyAlgoTrade are non-refundable and non transferable among users in any case.
Can I Pay the Usage Fees in Cash to MyAlgoTrade?
No, MyAlgoTrade accepts only online payments for transparency and automated billing. In any case cash transaction are not entertained here.
Can a Customer Get GST Benefit and Invoice for the Recharge with MyAlgoTrade?
Yes, MyAlgoTrade provides GST invoices that customers can use for accounting or business expense claims. This bill shall be mailed within few business hours post transactions.
How Can a New User Register and Start Using MyAlgoTrade?
A new user can register on MyAlgoTrade by signing up with mobile number and email, verifying OTP, connecting a broker, and build strategy for deployment.
How Can Clients Change Their Password in MyAlgoTrade?
Clients can change their password in MyAlgoTrade from the profile or account settings section.
What Is the Procedure for Account Closure with MyAlgoTrade?
Users can raise an account closure request through MyAlgoTrade support, and the team will deactivate access after verification.
How Can Clients Download Performance Reports in MyAlgoTrade?
Clients can download performance reports from the dashboard section of MyAlgoTrade, where P&L, trade logs, and analytics are available.
Why Is There a Difference in P&L for Two Customers Using the Same Strategy in MyAlgoTrade?
P&L may differ due to factors like broker execution, slippage, margin availability, order speed, and stock liquidity, we always recommend to trade with brokers who have higher order execution speed and premium servers to cater API based order execution.
Can Users Check Ledgers for Specific Time Periods in MyAlgoTrade?
Yes, MyAlgoTrade allows users to filter ledgers and reports by custom date ranges for detailed performance tracking.
Does MyAlgoTrade Provide Ledgers for Paper Trades?
Yes, MyAlgoTrade provides ledgers and trade logs even for paper trading mode.
What Is the Difference Between a Normal Execution Server and an Ultra-Fast Execution Server in MyAlgoTrade?
Normal servers on MyAlgoTrade offer stable execution, while ultra-fast servers provide lower latency, faster order routing, and improved performance for high-frequency strategies.
Is Trading Allowed After a Late Entry on Any Strategy in MyAlgoTrade?
Yes, MyAlgoTrade allows late entry depending on the strategy settings chosen by the user. However for the case where late trading is not allowed, trade shall be placed on next signal.
Is Guaranteed Return Offered by MyAlgoTrade to Clients?
No, MyAlgoTrade does not offer guaranteed returns, as trading involves market risk. We do not provide any strategy nor any tips to trade.
What Is the Use of Template Strategy Provided by MyAlgoTrade?
Template strategies on MyAlgoTrade help beginners quickly deploy pre-built structures and learn how automation works.
Does MyAlgoTrade Provide Educational Resources?
Yes, MyAlgoTrade provides educational resources in the form of strategy templates and learning materials. However, these templates are not ready-made trading calls or plug-and-play strategies. Users must customize them and apply their own conditions based on their trading style and risk-taking appetite.
Do You Create Educational Videos on Strategy Building in MyAlgoTrade?
Yes, MyAlgoTrade publishes educational videos on strategy building, backtesting, and automation techniques and on many other similar topics under library section of MyAlgoTrade.
Can Any Customer Visit Your Office for Support or Services Related to MyAlgoTrade?
Yes, customers can visit the MyAlgoTrade office with prior appointment for support or consultation.
Does MyAlgoTrade Provide Account Handling Service to Customers on Profit Sharing or Fixed Fees Basis?
No, MyAlgoTrade does not provide account handling or PMS-like services, as it is a self-use automation platform.
Can Users Exit or Pause Live Trades Manually on MyAlgoTrade?
Yes, users can pause any live strategy or manually exit trades anytime on MyAlgoTrade.
What Is the Place of Jurisdiction for MyAlgoTrade?
The place of jurisdiction for MyAlgoTrade is the Bhopal, Madhya Pradesh.
What Payment Methods Are Available Under the Payment Gateway of MyAlgoTrade?
MyAlgoTrade supports multiple payment methods through its secure payment gateway, including UPI, net banking, debit cards, credit cards, and major digital wallets.
Is Any EMI Option Available with the Payment Gateway for MyAlgoTrade Service Fees?
Yes, MyAlgoTrade offers EMI options for service fee payments, depending on the bank and card issuer’s eligibility within the payment gateway.