Trading in NEST/NOW versus Brokers own Software

iTrade

Well-Known Member
#1
Hi Folks

Does anyone think that INTRADAY trading using brokers own developed software like upstox pro, zerodha Pi, fyers web, finvasia scalpert or any such software offered by broker has following disadvantages
1. More slippages
2. All of a sudden you started making losses month over month after you switched from nest/now to these inhouse developed trading terminal
3. Is it possible that the brokers are using our trading data from their own software to trade against us or selling it to third party?
Its not just about me or my account. The whole of traders using the platform on the trading day can be tracked and data can be used or sold. Our cover order or bracket order stoplosses can be used to identify the common support point and drag price to that point to take us out of trade and fill their orders.

Do you think we should stick to Nest or Now?
I might be wrong here but I have feeing since a year now ever since i stopped using nest/now and started using these broker developed softwares. Anyone else? Any thoughts?
 
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#4
I'm not sure if I have seen any deterioration in performance because of broker's software. If one is putting pending orders, as I do, then those orders are at the exchange, so any slippage isn't related to the broker whereas perhaps, if you use market-orders, then if the broker's software is slow & buggy then you might experience more slippage than you might on NOW. If you are regularly getting SMS from NSE about all of your trades, then the broker isn't trading against you. As for selling data, I think they sell our contacts but not sure about trading-data, & it would only be relevant if you're making several tens of lacs or crores of profit every month, so if you are, then maybe it's best to stick to NOW for privacy reasons.
 

iTrade

Well-Known Member
#5
I'm not sure if I have seen any deterioration in performance because of broker's software. If one is putting pending orders, as I do, then those orders are at the exchange, so any slippage isn't related to the broker whereas perhaps, if you use market-orders, then if the broker's software is slow & buggy then you might experience more slippage than you might on NOW. If you are regularly getting SMS from NSE about all of your trades, then the broker isn't trading against you. As for selling data, I think they sell our contacts but not sure about trading-data, & it would only be relevant if you're making several tens of lacs or crores of profit every month, so if you are, then maybe it's best to stick to NOW for privacy reasons.
Well. Its not just about me or my account. I was thinking like the brokers own developed platforms have a better idea of positions of all traders using that platform and that data can be used to trade against or sell to other agencies. Getting the point?
 
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iTrade

Well-Known Member
#6
There might be an additional delay in the range of 50 to 100ms for tick data, but that’s about it.


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Hi. I was not talking of data feed. Its about order placement and all traders placing trades on the inhouse platform. For futures intraday, small slippages outside of what you would see in nest or now matter a lot.
 

iTrade

Well-Known Member
#8
You have simple solution, start using NOW which is much more stable anyway and see if your edge returns .. Its more likely that your did not have an edge, or that your edge was not durable or perhaps market has changed.
Yes. I have that point too but the coincidence made me think. So thought of checking with heavy intraday traders if they observed something after switching from nest/now to proprietary trading platforms. By the way, does anyone know if the brokers offered platforms are subjected to any kind of audits/checks by SEBI?
 
#9
Yes. I have that point too but the coincidence made me think. So thought of checking with heavy intraday traders if they observed something after switching from nest/now to proprietary trading platforms. By the way, does anyone know if the brokers offered platforms are subjected to any kind of audits/checks by SEBI?
Yes, all SW (inhouse or others) need regular audits including at the time of enablement.
 
#10
Hi Folks

Does anyone think that INTRADAY trading using brokers own developed software like upstox pro, zerodha Pi, fyers web, finvasia scalpert or any such software offered by broker has following disadvantages
1. More slippages
2. All of a sudden you started making losses month over month after you switched from nest/now to these inhouse developed trading terminal
3. Is it possible that the brokers are using our trading data from their own software to trade against us or selling it to third party?
Its not just about me or my account. The whole of traders using the platform on the trading day can be tracked and data can be used or sold. Our cover order or bracket order stoplosses can be used to identify the common support point and drag price to that point to take us out of trade and fill their orders.

Do you think we should stick to Nest or Now?
I might be wrong here but I have feeing since a year now ever since i stopped using nest/now and started using these broker developed softwares. Anyone else? Any thoughts?
We all are sailing the boat! Read along
 

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