Trading in the stock market involves a lot of risks. Hence any wrong move or small mistake could lead a trader to lose a massive amount of money within a few seconds or minutes.
Due to this risk factor, traders use many good strategies based on different rules and criteria with market conditions. But before using them, traders test these strategies with the help of backtesting software, which helps them to learn and create strategies without losing any money in the market.
In the beginning, many traders used computer screens to visualize trading charts and test their trading strategies. But as the modern era began to grow, many people developed backtesting software to test trading strategies using historical data. It helps traders to understand and modify their strategies as per results and achieve more profits.
However, each backtesting software differs depending on trading experience, budget, nationality, and other factors. But in this article, I cover suitable and available backtesting software for trading NSE stocks and options in India.
What is Backtesting in trading?
Backtesting in trading is a process that tests if a chosen set of variables are right or wrong to trade stocks, futures & options, forex, or other markets.
Traders get detailed reports of executed trades, risk-reward ratio, returns on investment, winning and losing percentages, and more to check the effectiveness of the trading strategy.
These reports or analysis helps traders to understand their strategy and helps them to improve in strategies if required. Also, Backtesting helps traders implement correct strategies while using real money in the active markets to make informed decisions.
With backtesting software, traders obtain essential information like risk management, a risk-to-reward ratio, return without risking precious capital in the market, market exposure, net profit/ loss, etc.
Best Backtesting Software in India for effective trading strategy
The use of backtesting software simplifies the process and provides detailed reports. Using the right backtesting software can save traders time and money. and that’s why I pick some of the best options here.
|Sr.No||Backtesting Software for options & stocks||Key Features|
|1||StockMock||Helpful to backtesting options strategies|
|2||TradeBrains||Helpful to advance portfolio backtesting|
|3||Zerodha Streak||Best for multiple backtesting multiple instruments at once|
|4||Interactive Brokers||Helpful for fundamental Backtesting|
|5||Traders Cockpit||Strategy development and backtesting strategies|
|6||AmiBroker||Best for portfolio optimization|
|7||Trade Station||Best for Strategy customization and Porftfolio optimization|
|8||Meta Trader 5||Best for Testing automated robot performance in trading|
|9||TradingView||Best for many instruments backtesting and sharing strategies|
|10||Meta Stock||Best for Stock backtesting|
|11||Ninja trader 8||Best for optimizing and backtesting strategies|
StockMock is one of the best online platforms, and it helps traders with options backtesting. Also, traders can backtest different strategies with or without indicators for NSE stocks.
Stockmocks report contains average trades, total returns, profit/loss in percentage, and many other helpful metrics.
Is Stockmock offers free trials to its new users?
No, but new users get 20 free credits as soon as they sign up.
Key Features of StockMock:
- Create strategies using nifty / bank nifty, strike price, lot size, etc.
- Filter your results using group by day, expiry, etc.
- StockMock has Banknifty data available from Jan 2017
- StockMock has Nifty data available from Feb 2019
There are many other good features available at StockMock. You can check them by visiting their official website.
StockMock Options Backtesting Features:
- Easy to test any strategy
- Numerous Filtering features make things easy for traders.
- EOD and Multiple-Time Frame Strategies
- The best thing is traders get dedicated support
- Multiple currency options
- Easy-to-use interface
- Most of the features required a premium subscription
- Not valid for other charting or technical analysis
TradeBrains is one of the best online platforms that provide investors quality fundamental data with insightful visuals. With the help of these tools and data, investors make efficient stock research and analysis.
Its portal helps traders in creating backtesting strategies and implement them. The reports include metrics like CAGR, portfolio growth, absolute returns, etc.
Is Trade Brains offer free trials to its new users?
No, Trade Brains doesn’t offer any free trials.
Key Features of Trade Brains:
- Superstar Portfolios: This helps investors track all ace investors’ actions in one place.
- Screener: Find winning stocks by creating personalized filters.
- Stock Buckets: To help your thematic and sectoral purchases easier.
- Portfolio Backtesting: To find out how your portfolio performed.
There are many other good features available at Trade Brains. You can check them by visiting their official website.
Trade Brains Pros:
- Free investing and trading courses
- Simple and unique interface
- Easy to backtest strategies
Trade Brains Cons:
- Android app only for stock screening and analytics
Trade Brains Pricing:
Zerodha Streak satisfies every trader’s need to trade in this modern age on one platform.
The streak Zerodha platform helps traders to plan and manage their trades without coding on the go. They provide systematic trading at affordable prices.
Streak helps traders and investors to build, test and deploy strategies for stocks and cryptos, and with Zerodha streak, it is super easy to create performance reports for several stocks in one click.
Is Zerodha Streak offer free trials to its new users?
Yes, Zerodha Streak does offer a 7-day free trial with 50 backtests per day.
Zerodha Streak Pros:
- Available on Android and IOS
- Easy to create and deploy strategies
- Lightning-fast Backtesting, real-time alerts, and scanning
- Shows counter to count people tracking backtest results
Zerodha Streak Cons:
- Required strong internet connection.
Zerodha Streak Pricing:
There are many other good features available at Zerodha Streak. You can check them by visiting their official website.
The Interactive Brokers platform is beneficial for portfolio managers. It helps them to do Backtesting based on company fundamentals like EPS growth, P/E ratio, PB ratio, top buy-side analyst ratings, etc. With these portfolio managing tools, traders can build backtesting strategies against selected benchmarks in detail.
Is Interactive Brokers offer free trials to its new users?
No, Interactive Brokers doesn’t offer any free trials.
Interactive Brokers key Features:
- Leverage technology built to help traders get ahead
- 50+ criteria to sort potential stock investments
- Backtesting strategy performance tracking
- Advance API technology
- Automatic notification for portfolio rebalancing
There are many other good features available at Interactive Brokers. You can check them by visiting their official website.
Interactive Brokers pros:
- Nine years of historical performance data for Backtesting
- Available on Desktop, Mobile, and Web
- Support is available via Chat, Email, and Telephone
Interactive Brokers cons:
- Significantly fewer options for Backtesting on chart indicators
Interactive Brokers Pricing:
Note: It is free for IB clients. You can sign up for a free trial account on the platform. Pricing is available on request.
TradersCockpit is used mainly by traders, investors, and brokerage firms. Strategy Labs tools help build and backtest strategies with indicators for NSE and BSE stocks.
It provides multiple historical data to check how a strategy works. The reports include average trades, backtesting dates, total returns, profit/loss, and other valuable metrics.
Is TradersCockpit offer free trials to its new users?
No, Traders Cockpit doesn’t offer any free trials.
TradersCockpit Key Features:
- ReadyMade Dashboards, Screeners
- Powerful Options corner
- Wealth Solutions
- TA/Options workshops
- Detailed analysis charts
There are many other good features available at TradersCockpit. You can check them by visiting their official website.
- Cloud-based and mobile friendly
- Intuitive interface
- Hands-on workshops
- Advanced features for Backtesting are missing
Amibroker provides powerful and ultra-fast exploration tools to scan the market for opportunities and inefficiencies so traders edge to stay ahead of the crowd.
With Amibroker services, traders can get the simulated portfolio level. The traders must add a formula for creating buy/sell signals for trading rules.
Easy to change and use different types of settings for backing, for example, maximum profit and loss, stop loss, commission, type of trade, portfolio size, and so on.
Is AmiBroker offers free trials to its new users?
Yes, AmiBroker offers a 30-day free demo version of AmiBroker.
AmiBroker Key Features:
- System Design & Testing
- Awesome fast speed
- Dynamic portfolio-level position sizing
- Optimization and Validation
- Walk-forward testing
- Easy Alerts
There are many other good features available at AmiBroker. You can check them by visiting their official website.
- Multiple currency support
- Multiple treading support for faster Backtesting
- Only available on the windows platform
- Requires programming language knowledge
- AmiBroker Standard Edition is $279+GST.
- Professional Edition costs $339+GST.
For more information, visit: Amibrokers Official Website
TradeStation is beneficial and valuable to any trader, which means whether you are a new or experienced professional trader, they offer many valuable things that anyone can easily use.
TradeStation allows intraday traders to analyze their trading strategies and methods for equity, futures & options using a vast historical market database.
Is TradeStation offer free trials to its new users?
No, TradeStation doesn’t offer any free trials.
TradeStation Key Features:
- Market research and insights at your fingertips
- Every tool that traders needed for intraday trading
- 24×7 help and support available
There are many other good features available at TradeStation. You can check them by visiting their official website.
- Available on Desktop, Android, and IOS
- Multiple Currency support
- An unorganized Layout may confuse less technical people
For more information, visit: TradeStation official website.
MetaTrader 5 platform is valuable and flexible. With MetaTrader 5 strategy tester, traders can import any stocks, currencies, and other assets’ historical data from NSE and backtest their strategies.
MetaTrader 5 platform offers many defaults and custom indicators from automated trading system expert advisors.
MetaTrader 5 platform is the best choice for modern traders.
Is MetaTrader 5 offer free trials to its new users?
No, MetaTrader 5 doesn’t offer any free trials. But a free demo account is available for individual traders.
MetaTrader 5 Key Features:
- Can backtest with specific historical data
- It helps to choose the best input parameters for maximum profit and minimum risk
- Best Multi-Asset Trading platform
- Offers more than a hundred ready-made scenarios for automation
There are many other good features available at MetaTrader 5. You can check them by visiting their official website.
MetaTrader 5 Pros:
- Can test expert advisors on multiple currencies
- Available on IOS, macOS, Windows, Android, Linux
- Speed control for visual trading mode
MetaTrader 5 Cons:
- Difficult to understand for beginners
MetaTrader 5 Pricing:
Note: Pricing is available on request.
TradingView is a web-based platform that is also the most popular among traders in India. TradingView provides multiple financial asset charting and allows traders to backtest their strategies.
Easy to understand charts, and everything is customizable. More than 30 million traders and investors use TradingView in their Backtesting.
Backtesting in TradingView is so easy that any beginner trader can understand things quickly.
Is TradingView offer free trials to its new users?
Yes, TradingView offers a free trial for up to 30 days.
TradingView Key Features:
- Traders can publish their ideas and scripts
- Custom date for historical data backtesting
- Import/ Export data
- Bar replay feature available for backtesting strategies
There are many other good features available at TradingView. You can check them by visiting their official website.
- Custom charts
- Fully synced desktop app, web platform, android, and IOS widgets
- Easy to use
- Support Multiple-Assets
- TradingView Strategy tester feature
- Backtesting in TradingView is easy
- Not possible to implement robotic trading automation
MetaStock is the global leader in market analysis tools. MetaStock shows traders how good or bad their strategies work based on historical data.
It has AI, so with this, traders can check and test different strategies with different variables. It provides backtested reports with profit/loss, Return on Investment, and other vital metrics.
Is MetaStock offer free trials to its new users?
Yes, New users can get and use free backtesting software for the first two months.
MetaStock Key Features:
- Power console to access more than 50 systems for Backtesting
- With one click can backtest the entire market
- Customizable interval selection for Backtesting
- Real-time market data and news
There are many other good features available at MetaStock. You can check them by visiting their official website.
- Expert advice on the chart based on popular market strategies
- Training and webinars for support
- Configurable reporting for forecasting
- Lacks automated trade execution
- Scripting Knowlege requires
MetaStock Price starts at INR 4450.665 per month.
For more information, visit: MetaStock official website.
Ninja Trader allows traders to stock backtesting using historical data.
NinjaTrader shows statistics like profit/loss, profit factor, maximum drawdown, number of traders executed, and more.
Is NinjaTrader offer free trials to its new users?
No, NinjaTrader doesn’t offer any free trials.
NinjaTrader Key Features:
- Advanced Charting
- Strategy Backtesting
- Real-Time Scanner
- Market Playback
- Get Real-Time notifications
There are many other good features available at NinjaTrader. You can check them by visiting their official website.
- Automatic reading of trade entry/exit
- Can save strategy analyzer sessions
- Support available for user-developed custom statics
- Does Not consider news events and price action
NinjaTraders has a free plan but does not provide automated Backtesting and other premium features.
Paid plan starts at 16,969 ₹ per quarter.
These are the best backtesting software available for India-based traders. But before buying this software for your trading journey, you should consider a few things.
Points to consider before choosing Backtesting Software
- Backtesting Choices
To select a suitable market for your trading style, you may be required to backtest the whole market. And This is the basic need of every trader. However, not every backtesting software provides all this.
Some backtesting software in India only supports a single financial instrument. These backtesting software are not helpful for those who want to try and use multiple financial instruments.
- Trading Indicators
The Backtesting Software must offer users different indicators like Relative Strength Index, EMA, MA, SMA, Volume, Pivot Point Standard, SuperTrend, Vwap, etc. Indicators are necessary to traders in their day-to-day trading activity.
- Language Choices
Nowadays, backtesting software needs programming language skills for custom backtesting, and traders with no tech background may find it challenging to use this backtesting software.
- Trade Execution
There are many ways to trade a market. Depending on traders’ preference, a trader may choose the backtesting software which offers automatic trade execution, semi-automatic, and manual. But only a few vendors provide automatic trade execution.
- Operating System Support
Before choosing the backtesting software, a trader must check the compatibility of the backtesting software with your operating system. Many backtesting software is web-based, but some vendors also offer backtesting software for Windows, macOS, and mobile apps for Android & IOS.
These are the best backtesting software for traders, but to be a successful trader, you must combine your knowledge and skills with these software to make the right decisions at the right time.
However, these backtesting softwares are the tools that can help you to improve your trading, and no one can guarantee that using these softwares will make you a successful trader. No, that is all up to you.
Backtesting software provides data and different tools, but what traders do depends on the trader.
I hope you found this blog informative and that it will be helpful to you in your trading.
You can comment below if you have any doubts about this post’s content, and I’ll solve your doubts as soon as possible.
Frequently Asked Questions
Which platform is best for Backtesting?
TradingView, Zerodha Streak, TradeStation these are some good platform for backtesting.
What is the best free backtesting software for stocks?
TradingView and TradeBrains offer free plans. These platforms can use for free backtesting trading strategies for stocks.
What is the best free backtesting software for options?
Traders can backtest their strategies on the Interactive Brokers option strategy Lab for free.
How do I do a backtest in Excel?
You can create or download a backtesting template. Then you can extract and add historical data of any stock to the excel sheet and try various parameters to Backtest the stock.