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Product Details

Copy Trading Software

(8 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?

  • Simple setup process with a cross-broker copy. E.g. Zerodha(Master) and IIFL(Child)
  • Equity, Options, Commodities, and Currencies all supported Segments.
  • Automated order copying with features for modifying and canceling orders
  • Capacity to apply a quantity multiplier to each child account
  • Automatic quantity rounding based on the lot size
  • Swift execution of orders
  • Convenient on/off switch for starting and stopping copying operations
  • Detailed information on master and child orders for each copied order
  • 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.
  • Order Splitting :
    order-splitting logic that allows for the automatic splitting of orders when the number of lots in a single order exceeds a predefined threshold. For instance, if the threshold is set to 25 lots and an order is placed for 35 lots, the system will automatically split it into two orders, one with 25 lots and another with 10 lots.
    In addition, it is recommended to set a minimum value for the freeze lots across Nifty, Bank Nifty, and Finnifty.
  • Built-in safeguards to prevent infinite copy loops.
  • Convenient login and log-out functionality
  • It provides real-time updates on live positions and profit/loss (PNL) at the account level, combined across all accounts
  • Symbol-wise summary of trades, as well as an account-level summary that displays a comprehensive overview of all trades being copied. This provides users with a detailed breakdown of the performance of individual symbols and an overall picture of how their copy trading is performing at the account level.
  • Counts for total order copied, no of orders rejected/canceled in child accounts
  • It offers users pop-up and sound alerts, as well as Telegram alerts, in case any order is rejected in their child accounts.
  • Order modification supported on: Quantity change, Order type change, Limit/Trigger price change, and product type change

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 are not supported. This is because it may result in a residual quantity remaining open or the establishment of an 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 as and a detailed explanation of the issue in written 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

  1. What is copy trading software?
    Copy trading software allows traders to automatically replicate trades from a master account to one or multiple child accounts.
  2. How does copy trading software work?
    Copy trading software uses an API to connect the master account with the child accounts. When a trade is executed on the master account, the software replicates the same trade on the child accounts.
  3. What are the benefits of using copy trading software?
    Copy trading software can save time and effort for traders by automating the process of replicating trades.
  4. Can we have a Master and Child Broker Different? from Zerodha copy trade to IIFL Possible?
    Yes, you can have both master and child account different For example, your Master account is Zerodha and your child account is in IIFL. the software will copy the order from Zerodha to IIFL

8 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….

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