Since the launch of Algomojo (29th June 2020), we have been amazed by the response from the Algomojo users, and Algomojo always striving to bring down the overall essential cost of the Algo traders with more features and facilities at one single market place.
And now to meet the demand of Discount Broking Plan users we are offering free API + Free Platform with No upfront fees, no minimum turnover, no special terms and conditions, no clauses, no strings attached.
What is the Overall Cost Involved in Algomojo?
Traders opening trading account via Algomojo with our partner brokers (Currently Aliceblue, Enrich, Tradejini, Zebu) 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 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 and that platform fee will be completely waived off for those taking Tradestudio Subscription / Directly opening a Trading account under Algomojo.
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.
Algomojo API documentation
Algomojo comes with an inbuilt Free API which also supports existing clients of partner broker and compatible among different partner brokers. For detailed documentation visit here
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 required from the client’s side.
What are the Upcoming Features?
At Algomojo we been striving not only to bring down the overall cost of the Algo traders but algo bringing newer technology & innovative methods, newer platforms to make the overall algo trading experience of users as smooth as possible.
Here are the upcoming features expected in the next Phase of Release
1)Paper trading before taking the trading strategy to live. Expected to be released in next Phase
2)Smart in-built strategy templates to introduce smart execution in your trading strategies
3)Integrating Telegram Bots with Algomojo to send Alerts to your Telegram Account.
4)Ability to do algomojo with more trading platforms.
If you are already a Broker/ Authorized Person/ Sub-Broker/ Educational Provider/ Research Analyst/ Investment Advisor looking for a partnership with Algomojo then kindly do send an email request at [email protected]