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Copy Trading Software

Copy Trading Software
Order Summary
Position Symbol Wise
Position Account Wise
All Account
Copy Trading Software
Categories: , , ,
(12 customer reviews)

What is Copy Trading Software?

Copy trading software in India is a revolutionary tool that simplifies the process of replicating trades from a master account to multiple child accounts. This software is gaining popularity in India as the best copy trading platform, allowing traders to mirror the trades of experts across various brokers seamlessly.

For updates, join our Telegram channel: https://t.me/MyalgomateCopyTrading Or Search with the name “MyalgomateCopyTrading”.

WhatsApp for any doubts/queries @ https://wa.link/xhparw

The software’s pricing is based on a per account per month model. For instance, if you have 1 master account and 1 child account, it will be calculated as 2.
Keep in mind that more brokers can be added upon request.

₹500.00 +18% GST

Highlights

What are the advantages of Myalgomate’s copy trading software?

  • One Click Login All Account.
  • Simple setup process with a cross-broker copy.
    • Master: Zerodha
    • Child: IIFL / Finvasia / Etc.
  • Hassle-Free Automated Order Splitting.
  • Qty. Multiplier (Decimal Allowed) for each account having different Margins/Funds.
  • Segments Supported: NSE, NFO, MCX, CDS, BSE, BFO, BCD.
  • Product Type Supported: MIS, NRML, CNC
  • Quick Start / Stop Copy Trading for Each Account.
  • Smart Execution: By utilizing both parallel and serial order execution, the system will prioritize the placement of buy orders followed by sell orders in cases where multiple orders are received simultaneously.
  • Most advanced Built-in safeguards to prevent infinite copy loops.
  • Convenient login and log-out functionality.
  • Real-Time Account Wise PnL and Funds
  • Copied Order window: This window displays the order relation between the master and child accounts, allowing you to export to Excel file for a detailed overview of orders across all accounts. This feature is particularly important when you need to monitor live market activities. For instance, after placing an order in the master account, you can quickly check how many child account orders have been placed and their real-time order status.
  • Live Positions Dashboard:
    • Account Wise Position – Shows Individual Account position
    • Symbol-Wise Position – Shows Symbol-wise position available across all accounts
  • Live Summary Dashboard:
    • Account Summary – Active Accounts Summary
    • Position Summary – Total PnL, Total No., Open and Closed Position Count
    • Order Summary – Total, Complete, Trigger Pending, Canceled and Rejected Orders Count
  • It offers users pop-up and sound alerts, as well as Telegram alerts, in case any order is rejected in their child accounts.
  • Order Types ALLOWED: Market Orders, Limit Orders, SL-M Orders, SL-L Orders.
  • Order modifications SUPPORTED: Limit Price modification, SL orders -> Trigger and limit price modification, Canceling order

 

Demo Video PART 1: Introduction to Best Copy Trading Platform 

 

Demo Video PART 2: New Feature added to Copy Trading Software – Part 2 | Copy Trading Zerodha & Alice Blue | Order Splitting | Exit All

IMP Guidelines

Order Types ALLOWED:

  1. Market Orders
  2. Limit Orders
  3. SL-M Orders
  4. SL-L Orders

Order Types NOT ALLOWED:

  1. AMO (After Market Orders)
  2. Basket/ Bracket/ Cover
  3. GTT (Good Till Traded), GTC (Good Till Cancelled)
  4. MTF Orders

Order modifications SUPPORTED:

  1. Limit Price modification
  2. SL orders -> Trigger and limit price modification
  3. Cancelling order

Order modifications NOT SUPPORTED:

  1. Quantity modification
  2. Product type modification
  3. Order type modification

Limitations on using A/C multiplier:

  • Both integer and decimal multipliers are supported.

If you are utilizing decimal multipliers such as 1.5 or 2.5, it’s important to note that partial profit booking and pyramiding may result in a residual quantity remaining open or may create the opposite position when exiting a position with a small quantity.

For FNO, we employ a round-down logic for quantity. For instance, if the calculated quantity based on the multiplier is 260 and the lot size is 50, it will be rounded down to 250. This poses a challenge when practicing pyramiding or partial booking. Therefore, when using a decimal multiplier, it is advisable to place orders for entry and exit with the same quantity. For instance, if you place a buy order for 500 quantities followed by a second buy order for 700 quantities, it is recommended to have two separate exit orders for 500 and 700 quantities, rather than a single order for 1200 quantities.

If part booking or pyramiding is essential in your trading strategy, we recommend using an account with the lowest quantity as the master account. Utilize integer multipliers and allocate capital accordingly in your child accounts.

Testing Guidelines:

  • Before fully integrating the software into your trading activities, we recommend taking the following steps for the initial 2-3 days. Since you are new to the software, it may take some time to become familiar with its functionalities.
  • Begin by experimenting with all order types using minimal quantities initially (e.g., 1 quantity for Equity and 1 Lot for Options). This is important due to potential variations in order placement formats among different brokers.
  • Additionally, test order splitting with some small orders.
  • Deliberately create scenarios, such as a child account order being rejected, to gain an understanding of how notifications are received and where you can find this information.
  • Once you have confidence that the software is running smoothly, and you are familiar with all its features and the display of information in different areas, only then proceed to use it extensively in your regular trading.

Software Configuration:

  • Configure all parameters, including enabling Splitting and Segment activation, child a/c order rejection settings, in the settings of the copy trading software before starting.

VPS and Account Limits:

  • Be aware of the limitations of VPS; the free AWS tier versions may support 5-6 child accounts. If you exceed this limit, it might be necessary to consider using a paid VPS version. It’s important to note that there is no restriction on the number of child accounts you can add.
  • If you intend to run the software on your local system, it is essential to maintain a continuous internet connection with a minimum bandwidth of 2MBPS, along with uninterrupted access to electricity. Additionally, ensure that no other software disrupts your system, as these factors can impact the performance of the software.

User Proficiency:

  • Users should possess basic computer knowledge.
  • Software installation and credential entry must be done on the client side. Support teams are available for guidance.

Issue Resolution:

  • In case of any problems, promptly contact the support team.
  • Submit log files and a detailed explanation of the issue in writing as instructed for efficient issue resolution.

How to use?

Add/Edit/Delete Accounts

Step 1: Add Parent account (Master Account) 
To add an account, you will need your broker login details along with broker API details

Step 2: Add Child account 
To add an account, you will need your broker login details along with broker API details

Here you can also set Multiplier which can be used as Qty Multiplier
It is useful when managing accounts with a different capital.

[Child Account Quantity] = [Parent Order Quantity] * [Account Multiplier]

Note: The default value for the multiplier is 1. But it can be a fractional number as well. For example, a multiplier of 2 will result in double the original order quantity.

How does auto-copy work?

Step 1: Select Multiple Accounts wanted to log in and mark an account as a parent account

Step 2: Sync data (It will sync instrument/symbol across all brokers you have added)

Step 3: Press Start Copy Trading
our system will continuously monitor your master account for any new orders. When it detects new orders, it will automatically copy them to the child’s accounts.

Orders can be placed in the master account into your broker’s terminal or APIs (via algos).

Don’t forget to keep an eye on the progress (Sumamary Tab).

Account Summary Tab

Under this tab, the user can have Account wise summary which includes account-wise position and account-wise order details

The user also has the option to sort, filter, or group based on all the columns available in the grid.

  1. Pseudo name
  2. Client ID
  3. PNL
  4. Position Details :
    1. No. of Total Position
    2. No. of Open Position
    3. No. of Closed Position
  5. Order Details
    1. No. of Total Orders
    2. No. of Open Orders
    3. No. of Trigger Pending order
    4. No. of Complete Order
    5. No. of Rejected Order
    6. No. of Canceled Order

Positions Tab

Account wise Summary

This is an exclusive thing for traders managing multiple accounts and tracking live LTP of all positions.
Under this tab, user can see their live position along with PNL for each symbol and each account.

  1. Pseudo Name
  2. Broker
  3. Client ID
  4. Multiplier
  5. Symbol Name
  6. Product Type
  7. Net Quantity
  8. LTP
  9. PNL
Symbol wise Summary

This tab will show Symbol wise summary of all the accounts combined For Ex. you have 10 Shares of YES BANK in Account 1 and 5 Shares of YES BANK in Account 2 then it will show you the total summary as 15 and its details.

  1. Product Type
  2. Symbol
  3. PNL

Order Summary

The “Order Summary” tab displays a comprehensive overview of all the order-related information. It includes details such as the Order ID, the time the order was placed, and the copy status.

The “Copy Status” indicates whether the orders were successfully copied without any rejections or cancellations. If all the orders have been copied successfully, the status will be displayed as “All OK.” However, if there are any failures, the copy status will show the count of failed orders along with the reason for the rejection or cancellation.

To access more information, users can click on the plus sign on the left side of the screen. Clicking on this will expand the view and show details of each child’s account. This provides users with a more detailed breakdown of the information, allowing them to quickly identify and address any issues that may arise.

Configurable Settings

Copy Trading Enable / Disable Exchange and Segments:

Copy Trading Options

Copy Trading Setting For Auto Order Splitting:

Copy Trading Split Lots

Copy Trading Setting Limit Order execution in Child Account:

Copy Trading Limit Order

Copy trading setting for order rejection :

Copy Trading Rejection

Telegram Settings to get live alerts:

Copy Trading Telegram

 

 

Pre Requisites

  1. Integration with the broker requires a Broker Account API. If there are any charges associated with using the API from the broker, the customer will be responsible for covering the cost independently.
  2. Infrastructure :
    1. Cloud Machine(Like Amazon AWS/Microsoft Azure/Google Cloud) can be used in Windows / MAC System
    2. If you opt for a Cloud machine, there is no other internet speed requirement or min computer requirement.

FAQ's

Digital Marketing

Price: ₹500 + 18% GST per account per month.
Please note, that the Master Client ID is also considered as one account. So, at a minimum, you need to purchase one Master account and one Child account, which totals ₹1000 + 18% GST per month.
Discount Model:

  • Upto 10 A/Cs: No Discount
  • 11-50 A/Cs: Flat 10% Discount
  • 51+ A/Cs: Flat 15% Discount

While we don’t offer free trials, we do understand that getting started with our service may require some support. That’s why we recommend purchasing a minimum one-month subscription with one master account and one child account. This ensures you have all the tools and assistance you need to fully experience the value of our service. The cost for this comprehensive package is just ₹1000 + 18% GST, offering great value for the benefits you’ll receive.

You have the flexibility to use different brokers for both master and child accounts. You can even opt for a different broker for each child’s A/C account if you prefer.

There’s no limit on the number of orders to be copied. Our system will efficiently copy all the orders you place, ensuring seamless execution of your trading strategy.

There is no limit on A/Cs that can be added. However, please note that the pricing structure is on a per A/C basis.

We support the following segments: NSE Equity, NFO Futures, NFO Options, BSE Equity, BFO Futures, BFO Options, and MCX. You have the option to enable or disable each segment. Only orders from the segments you’ve enabled will be copied.

Typically, orders are copied within 1 second. However, the speed may vary depending on the broker API and the infrastructure being utilized (Broker API responding time, Internet Speed, etc..).

There are two types of slippage: one is due to the latency of orders being copied, and the other is slippage due to liquidity. Orders are usually copied within one second. So, if you are using market orders, you may experience some small variation depending on the price movement that occurs within that one-second timeframe. If you place limit orders and all the quantity gets filled, then there won’t be any slippage. However, if there are fewer buyers or sellers available at your ask or bid price, then you may experience some slippage as the software revises the order price to get it filled. Slippages due to liquidity cannot be controlled.

The Copy Trading Software copies orders from your master account, whether they’re manually placed by you or executed through any other Algo.
However, there are certain limitations to consider. If you intend to use the same account for both your Algo and the copy trading software, your broker must allow either multiple API logins or provide multiple APIs.

  • For brokers like Finvasia, which allows only one login session through API and doesn't offer multiple APIs, you cannot simultaneously use the Algo and the Copy Trading Software.
  • Brokers like IIFL allow only one login session per API but provide multiple sets of APIs. Therefore, you can use different API sets for your Algo and Copy Trading Software to ensure they work concurrently.
  • Brokers like Zerodha permit multiple login sessions for the same API, enabling you to use the same API set for both Algo and the Copy Trading Software without any issues.

Yes, you can get alerts (Login, Logout, Order Rejection, Errors, Session expiration, etc..) to the telegram, check the setup guide for copy trading telegram alerts @: https://www.youtube.com/watch?v=-HR0BUCQlTU

Our copy trading software is available as a desktop-based application, giving you the flexibility to install it on your local computer or laptop, or on a cloud machine or VPS (Virtual Private Server).
If you are installing the software on your local PC/Laptop, ensure that you have power backup and a stable internet connection.
When installed on a cloud machine or VPS, you can access the software from anywhere with an internet connection, providing you with convenient remote access to your trading activities.
We prefer a desktop-based application as it has the following advantages:

  1. Performance: By installing the software locally or on a VPS, you typically experience faster execution speeds compared to web-based platforms. This is because the software runs directly on your machine or a dedicated server, minimizing latency and ensuring swift order processing. In web-based applications, execution happens on a single server of the service provider so it affects the speed of copying.
  2. Customization: Local installation allows for greater customization options tailored to your specific needs. You can configure the software according to your trading preferences and integrate it seamlessly with other tools or applications you use for trading analysis or management.
  3. Control: Installing the software on your own machine or VPS provides you with full control over your trading environment. You can manage security settings, data storage, and system resources according to your requirements, ensuring a secure and reliable trading experience. There have been instances in past where the service provider’s website goes down but the execution still happens in the background and in such cases, you are not able to control the software by any means which is very risky.
  4. Enhanced Stability:  In web-based platforms, issues affecting one client can cascade, impacting others due to shared resources while in desktop-based applications it doesn’t happen as you have your own independent software running.

You can use the copy trading software on a free-tier cloud machine, but there are limitations. If you’re managing 1-2 child accounts and placing 5-10 orders daily, the free tier is sufficient. However, as your trading activity increases, upgrading to a paid cloud machine with higher RAM and memory is recommended for improved performance. Think of it like using a small car for short trips with a few passengers. For longer trips and more passengers, larger and more powerful vehicles are needed for better performance.

Copy trading is an efficient way to manage multiple broker accounts in real-time.
When you decide to buy or sell something using your MASTER account, whether through a website, mobile app, or special software, our copy trading system swiftly replicates those actions across all your other CHILD accounts.
You can customize how much Quantity gets copied into each account by setting a multiplier. So, whether you’re trading manually or using algo tools, our copy trading system keeps all your accounts in sync.
Normally, if you’re manually trading across multiple accounts, you’d have to place orders and calculate quantities for each account individually, which consumes a lot of time and divides your focus from trading itself. With copy trading software, you only need to work on a single account. The software will automatically place orders into your other accounts, determining the quantity for you. This allows you to concentrate solely on your trading activities.

The Copy Trading software will replicate completed orders as well as pending Limit orders, SL-M (Stop-Loss Market) orders, and SL-Limit (Stop-Loss Limit) orders that are trigger pending. For detailed information on supported order types and modifications, please refer to the guidelines: https://www.myalgomate.com/product/copy-trading-software/#tab-imp-guidelines

Modifying the limit price and trigger price of an order will be copied to other accounts as well. However, please note that quantity modification is not supported. For more detailed information, please refer to the following link: https://www.myalgomate.com/product/copy-trading-software/#tab-imp-guidelines

  • You can set different multipliers for each child account.
  • If the multiplier is set to 1, it copies the same quantity as the master account.
  • Setting the multiplier less than 1, e.g., 0.4, copies 40% of the master's quantity to the child account.
  • A multiplier of 3 copies is three times the quantity to the child account compared to the master.
  • Decimal values like 0.05, 0.7, 0.9, 1.3, etc., are all valid options.
  • However, there are limitations when using fractional/decimal multipliers. Refer to the "Limitations on using A/C multiplier" section here for details.

You will need to calculate the multiplier value based on the funds available in your A/Cs. For instance, if your master account has ₹5 lakh available and your child accounts have margins of ₹10 lakh and ₹12.5 lakh respectively, you would set the multiplier to 2 for the first child account and 2.5 for the second.

We offer the following options to exit positions:

  1. Exit all positions of an A/C
  2. Exit a particular symbol position across all A/Cs
  3. Exit all positions in all A/Cs
However, please note that these options should be utilized when there is an issue with your Algo in your master account and it’s unable to place any orders.
If your algorithm also initiates the exit order and you manually exit using the exit button, it may result in opposite positions being created. Therefore, it’s advisable to first stop copy trading if you intend to use the exit buttons. Make sure to use it wisely so that it doesn’t create any opposite positions.
In the rare case of an issue from the broker’s API or the exchange’s side, you may need to exit directly from the broker’s terminal. Thus, it’s recommended to always keep all account details handy to manually log in anytime. While such occurrences are uncommon, it’s essential to be prepared for such scenarios.

We’ve provided the option to cancel pending orders through the software, but it’s important to use this feature judiciously to avoid creating any discrepancies between your master and child accounts.

If an order is rejected in the master account, it will not be copied to the child accounts.

12 reviews for Copy Trading Software

  1. Avatar Of Haris Mistri

    Haris Mistri –

    Myalgomate Copy Trading software has been a lifesaver for me, effortlessly mirroring my trades onto my family’s accounts. It’s simplified managing multiple accounts.

  2. Avatar Of Mehul Parikh

    Mehul Parikh –

    Good easy to use. Using for more then 2 months now.
    Crossbroker is good functionality.

  3. Avatar Of Mitesh Patel

    Mitesh Patel –

    Using it for quite some time. good work

  4. Avatar Of Abdusuhaibe

    ABDUSUHAIBE (verified owner) –

    Very Good Software… using it since 2 months now… my manual work has been reduced drastically. I am very thankful to myalgomate team for providing this software.
    The software meets my requirement and they have supported me a lot while configuring.
    Thanks for providing Support every time I have demanded and helping and explaining small details of the software.

  5. Avatar Of Purushotham

    purushotham (verified owner) –

    I have been using this for more than an a month now and its been very useful for trades to my family account.
    User-friendly interface,clean layout that makes navigation a breeze. The design is intuitive, with well-labeled menus and easily accessible tabs and features, making it effortless on what needs to be achived. Have not faced any issue so far, its stable and dependable.

  6. Avatar Of Dhaval

    Dhaval (verified owner) –

    Simply awesome software. Those who want to handle two accounts with exact same trades, this software is the perfect solution. Super simple interface, works with almost all top brokers. Execution speed is lightning fast, and that’s the thing we need as a trader or investor.

  7. Avatar Of Sathish Ashokan

    Sathish Ashokan (verified owner) –

    I am using software for almost more than 8 months, Fantastic product. Excellent to work with multiple accounts. I am able to execute same trade in multiple account without hussle. Very good product. Special Thanks to Dharmesh. He has been supporting me for past 8 months.

  8. Avatar Of Jinto M J

    Jinto M J (verified owner) –

    Myalgomate software is truely a great help for me… The UI and the team behind this really deserves great appreciation… Especially the helping mentallity of Mr. Dharmesh and Mr. Harsh is awesome… Hats off towards the team behind this….

  9. Avatar Of Santhosh

    Santhosh (verified owner) –

    MyAlgoMate Copy Trading Software automates copying trades across my accounts, letting me focus on my main one. It’s fast and accurate, so I don’t need to constantly monitor others. This saves me time and helps avoid errors, boosting my overall efficiency. Plus, I can easily adjust my strategies for different markets. Mr.Harsh and the customer support team at MyAlgoMate is also great, providing quick and helpful responses to any questions I have. Highly recommended for those traders who handle / trade with multiple accounts at the same time.

  10. Avatar Of Mehulgiri Goswami

    Mehulgiri Goswami (verified owner) –

    I am using this software more than a year, very good and easy to use, very helpful support by developers.

  11. Avatar Of Atchaya Kumar

    atchaya kumar (verified owner) –

    using it for more than a year . solid software .

  12. Avatar Of Renuka Misser

    Renuka Misser (verified owner) –

    A Game Changer for My Trades
    I’ve been using MyAlgoMate’s Copy Trading Software for over a year now. Let me share my experience and thoughts on this powerful tool.

    Seamless Account Integration Across Brokers:
    One of the standout features of Copy Trading is its ability to effortlessly link accounts across different brokers. Adding new accounts is a breeze. Whether I’m with Broker A or Broker B, this software ensures a smooth process.

    Holistic Trade Review in One Window:
    The consolidated view of trades across all my linked accounts is a game-changer. No more switching tabs or logging in separately to each broker’s platform. Having everything neatly organized in one window allows me to make informed decisions efficiently.

    Flawless Execution with Detailed Logs:
    Copy Trading’s execution process is flawless. The step-by-step logs provide transparency, allowing me to trace every action.
    Whether it’s entry points, stop-loss adjustments, or profit-taking, I appreciate the meticulous record-keeping.

    Responsive Support from the MyAlgoMate Team:
    Kudos to the MyAlgoMate support team! Whenever I’ve had queries or needed assistance, they’ve been prompt and helpful.
    Knowing that help is just a message away adds to my confidence in using this software.

    While Copy Trading is nearly perfect, I’d love to see a feature for managing trades across different clients through the Copy Trade window. This enhancement would further streamline my workflow.
    In summary, Copy Trading has transformed my trading experience. If you’re serious about trading, give it a try—you won’t be disappointed.

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