Fixed Monthly Brokerage and Algo Trading Support

Hi all,

I need to open a brokerage account with minimal monthly fixed brokerage to make my intraday strategy profitable and which can provide me API also so that I can automatically order the broker to make a transaction whenever there's any buy/sell signal generated by my app.

I have an account with RK Global and Rs. 999 intraday plan seems apt for this but I have a few queries:

1. Does this plan has any limit on daily or monthly turnover?

2. Does RK provide API support to its retail clients for Algo trading?

3. Is there any broker with lower brokererage and/or API support?

4. Is it legal to Algo trade in India for Retail Clients now?

5. Would it be better if I create my on app for algo trading or should I use existing softwares in the market? If latter, please suggest good softwares (I've heard about AmbiBroker and NinjaTrader till now), whether they are able to trade legally on NSE and their usage.

6. Should I trade on Broker's website only or should I subscribe for ODIN provided by the broker if I'm looking to make this Automated Algo Trading software?

7. Currently I'm downloading Yahoo's real time data for backtesting but I've heard that its 2-4 secs delayed. So, I would like switch to a better data provider when I start trading. Does esignal provide real time data for nifty and NSE stocks fairly quickly and accurately? If yes, what are the charges and in which format does it provide its data?

Answers to any or all of the above would be a great help as I'm keenly looking forward to start this thing with max. efficiency possible in terms of Brokerage, Data and Strategy optimization.

Thanks.

Forget algo RK global doest even have real time price quotes , 999 rs and algo trading are poles apart i have trading accounts which run in crores of rupees and turnover of over 100s crore Still no decent broker give a damn about it

currently having accounts with 3 brokers including edelweiss , you can only get automated trading with level 2 brokers not small not big 25 to 50 lacs should be
minimum margin ,they expect you to pay minimum 25 K brokerage per month

Interactive brokers is a exception but there charge for intraday is of delievery so even though they offer everything , they are no viable

Hi,I am a trader and a broker, been trying to develop algos based on technicals for the last three -four years for my own trading, I have a software which is affordable and can offer you the platform and some of the systems to start with, to begin with you can try a semi automated system.

Ajay Dharne

Interest to know

Interested to know