@Tejas Khoday
I appreciate your passion for your own product - wholehearted respect to you for that.
I wish that my broker simply provides a platform from which I can flawlessly execute my orders at any given situation on any given day WITHOUT ANY EXCUSES. Our Discount Brokers cannot even provide this bit consistently. So, what will I do with your “user experience
”, Sir! If this bit is not taken care then rest everything becomes plastic and irrelevant.
You are mixing up things! How can anybody’s requirements or needs judge a Broker’s overall reliability and trustworthiness. A reliable trustworthy Broker will always remain that forever – irrespective of any day or any circumstance. For instance look at Western counterparts – IB, TOS, Amibroker etc. Then exceptions could be rightfully ignored once in a while but not consistent technological failures at every step. I need NEST because it is not resource hungry and pretty simple without any mumbo-jumbo. I want to use it for order execution only. Egos apart, Dartstock is very resource hungry - use any good Performance monitor on a normal i3 CPU 4GB RAM PC.
Cannot agree further with you on this! I do not wish to pay for faulty APIs. Moreover, being a miniature retailer I do not wish to pay to external data vendors at a hefty cost in order to feed my charting platform either. WILL ANY BROKER TAKE RESPONSIBILITY OF THEIR OWN SYSTEM FAILURE AND REFUND THEIR CLIENT FOR THE LOSSES INCURRED? You might reply back saying yes but in reality you won't. There have been many occasions where uncountable members including myself have reported loss on an ongoing profitable trade simply because of broker's OMS failure or Connection flapping and/or what not excuses. None of the Discount Brokers will ever understand the ground reality. For most trapping and sucking is always better than toiling and serving. Often Discount brokerages are only concerned to increase their client base.
I am not home and writing this from somewhere else. I would have gladly shared you some mind-boggling proof from my home PC HDD.
Below is the hard reality if anyone interested:
Every discount broker tactically maintains a web-like trap in the internet. As a total noob if somebody is planning to open a Trading or Demat account and does a Google search, very likely that person will land up to a webpage showing XYZ as the best in India. So, without any second thought that person opens up an account with XYZ. That newbie is very optimistic and unaware of the reality. They think, they have discovered a money minting machine - if they do this along with that (courtesy YouTube videos), they would be printing money like no-one else. However, the reality has different plans. The brain receives narcotic antidotes which makes them addictive. So, even if they lose money, hope and the zeal to overcome despair forces them to trade, trade and trade.
After this every now and then, often on the volatile days, the mayhem occurs wherein XYZ's OMS/platform fails. By the way, mark while that person realizes all this, several months have passed by. That trader has already generated sufficient amount of revenue for the House. Now whether that buddy stays with XYZ or leaves - does not matter. That is the exact reason for the heaven-hell difference between the Customer Service you receive before opening an account and the service you receive afterwards ideally when you require it the most.
A very minuscule section of our population participates in trading (even worse considers it legit). That's the tragedy which leaves new masses to realize all this. As a part of their business plan, XYZ targets these new uninitiated fireflies. So, there are always new lots of newbies ready to try out their luck and ultimately get slaughtered.
In addition to this, generally XYZ either have a proprietary trading desk or is a sub-broker or a subsidiary of a large institution which generates tons of margin. That's why their connection flaps on a useful volatile day and their OMS along with their platform gets messed up! These people are too smart for the regulators to even trace the slightest of their shrewdness. While they receive Young-turt Awards, clients are forced to generate revenue at all circumstance and at all cost.
There is nothing better than being a Broker. And you say it's complicated. Yes it is but worth it. Meanwhile we simpleton retail gets beaten for everything.
No hard feelings just sharing the reality with you!
Sorry for this long post. Really pissed off from the hypocrite brokers. Thank you for reading!
P.S. I trade my own tools using Amibroker like any other sensible serious trader. Because in the entire universe, if anybody understands the technological aspects within the Trading context like application resource utilization, speed, event-execution there’s nobody ahead of Dr. Tomasz Janeczko, the founder and chief software architect of Amibroker. If any Indian discount broker understands this bit and facilitates free easy access to AB (not license wise) but plugin-wise, it will be a different story all together. This will enable brokers to focus more on proper Order executions instead of working on varied different fruitless platform related products. Amibroker is Industry’s best kept secret and no other application can ever compete with that. Worldwide no one could in last 20 years – no Ninja, no Meta; All bows down in front of AB's speed and ever-strengthening competence. That’s one other reason for IB’s success, their TWS platform handshakes with AB without any flaw via a simple free plugin.