Algomojo offers Free API + Free Trading Platform to algomojo users to Place, Modify, Cancel Orders. Currently, Algomojo API is free for the users who are opening a trading account with Algomojo Partner Brokers. Free API platform + Free Algo Trading platform is offered with no upfront fees, no minimum turnover, no special terms and conditions, no clauses, no strings attached.
What exactly is an API?
API stands for Application Programming Interface (API). Algomojo offers http-rest API and it basically a communication layer to Authenticate/transmit/receive information from your broker server and can be used to submit orders/cancel orders/modify orders to the broker’s server programmatically. You can use the API as a communicating layer between your trading software (Amibroker, Metatrader, Ninjatrader, Tradingview, Excel… etc
You can refer the Algomojo Documentation here for more detailed API functions & instructions.
So use Algomojo API it requires you to register for an API key & API secret key to communicate with your broker server. In order to get the API key you can log into Algomojo with your 2FA trading account login credentials and go to My API section and generate your API key and API secret key.
What is the Overall Cost Involved in Algomojo?
Traders opening a trading account via Algomojo with our partner brokers will be enjoying Free API + Free Platform Fee under both Discount Broking (Rs20 per order) / Percentage Based Broking Model (0.01%) or whatever the broking plan our partner broker offers).
Here are the List of Cost Involved while deploying Algos
1)Trading API Cost: Free (For Algomojo Account Opening Clients)
2)Algomojo Platform Fee: Free (For Algomojo Account Opening Clients)
3)Datafeed Cost: Optional
4)Data API Cost: Optional
4)Strategy Cost: Both Free Strategy and Proprietary Trading Strategies Available (Optional). Traders can deploy their own Trading Strategies
5)Supportive Platforms: Amibroker, Metatrader, Tradingview, Excel, C#, Python, Any Platforms that Supports Rest-HTTP APIs
6)Virtual Private Servers: Optional
7)Broking Charges: All F&O and equity trades would continue to be charged at Rs 20 or 0.01% according to your broking plan with our partner Broker and there are no restrictions on choosing on your broking plan with partner broker. Irrespective of the broking plan Algomojo client will enjoy Unlimited & Lifetime free access to Trading API and Algomojo Platform.
8)End to End Integration/Chat Support: Free.
Algomojo Provides data products for NSE Cash, NSE Futures, MCX Futures & NSE Currencies, and is currently tied up with Authorized data vendors GlobalDatafeeds & Truedata to offer data & data API products to its customers.
What is the Pricing for Non-Algomojo Clients?
Currently, Non-Algomojo clients who want to onboard Algomojo Platform with their existing broking account but not mapped under Algomojo will avail free Algomojo API access however there will be a platform fee of Rs 999/ month or Rs5999/year will be charged.
7 Days of Free Trial is available for Non-Algomojo clients to test drive before paying Algomojo Platform Subscription fee.
Trading Terminal Access is totally free for Non-Algomojo Clients to send orders manually/retrieving the orderbook/tradebook/open positions/watchlists from Algomojo to their broker account.
What are the Type of Orders Supported at Algomojo?
All types of orders are supported at Algomojo (Market Order, Limit Order, SL-Limit Order SL-MKT order, Bracket Order, Cover Order, AMO orders).
Algomojo also supports rule based ATM, ITM, OTM Option Orders
Algomojo supports Order Placement, Order Modification, Order Execution, and Retrieval of Orderbook, Trade Book, Order History & Open Positions via API.
Is the Web-Based Bridge Slower than the Exe Based Bridge?
Nope. Both use Rest API as a communication layer to transmit or receive information from the broker server. The latency of execution mostly depends upon the client’s internet speed and Brokers’ server responsiveness. In another article will look into this information in detail. However, it is a myth that Web-Based Bridge is slower compared to Exe based Bridge. In-fact web-based bridge has more ease of use and no up-gradation/installation/maintenance is required from the client’s side.
If in case you are are having any queries always you can send a mail to [email protected]