AlgoTest pioneers algorithmic options trading for Indian day traders

• It addresses pitfalls like the infamous #freaktrade and offers cost-effective, institutional-grade tools.

• Founded by Raghav Malik and Rajat Jaiswal, AlgoTest's free options backtester with a Live Execution Engine empowers retail traders, bridging the gap between backtesting and live trading.


Retail traders often struggle to keep up with the institutional giants in the fast-paced world of stock trading today. AlgoTest, founded in 2021 by Raghav Malik and Rajat Jaiswal, brings cutting-edge algorithmic options trading to Indian day traders.

The #freaktrade Wake-Up Call

It all began with the infamous #freaktrade incident on September 3, 2021. Retail traders, attempting to buy back the front week Sep 37100 put as BANKNIFTY plummeted. They unwittingly paid nearly four times its fair value. In a mere one-second span, these traders collectively lost a staggering ₹1.2 Cr. Why? They were playing with fire without realizing it.

Retail traders were making critical mistakes in their trading. They were driven by incomplete information and high fees from existing backtesting and execution tools.

AlgoTest's Call to Action

Enter AlgoTest, a startup born out of necessity. With a lack of social media presence but a wealth of trading experience, the founders set out to address the issue head-on. Three months later, they introduced India's first free options backtester. It aimed to equip retail traders with the tools needed to navigate the complexities of the market.

Behind the scenes with the Founders

Raghav Malik, AlgoTest's CEO, kicked off his career as an options market-maker in New York before transitioning to technology. His journey involved building low-latency trading software for Indian HFT firms. With a Mathematics degree from the University of Waterloo and a Master's in Financial Engineering from Columbia University, Raghav brings a unique blend of trading and tech expertise.

Rajat Jaiswal, AlgoTest's CTO, complements Raghav's skills. A graduate of IIT Delhi in Computer Science and Engineering, Rajat shares the vision of empowering Indian retail traders with innovative tools. At AlgoTest, he leads the engineering efforts to create a scalable and low-latency platform for traders.

AlgoTest unleashes power to the people

In a market where day trading has exploded, AlgoTest steps in to revolutionize the tools available to retail traders. Last year alone, more options were traded in India's National Stock Exchange than across all US exchanges combined. However, the tools at the disposal of these traders are often outdated, inefficient, and expensive.

AlgoTest offers a solution – a suite of powerful tools that were once exclusive to hedge funds and HFT firms. Their first offering, a free options backtester with a user-friendly no-code interface, now comes with a Live Execution Engine. This means that any strategy tested on the backtester can be seamlessly deployed to the live market with just a click.

The AlgoTest Advantage

AlgoTest's tools are not just powerful; they are cost-effective. They provide retail traders access to the same technology as institutional players at a fraction of the price. The platform's Live Execution Engine bridges the gap between backtesting and live trading. This ensures that strategies proven in simulation can be implemented with ease.

In a world where retail traders often face challenges and pitfalls, AlgoTest emerges as a game-changer. It brings the expertise of institutional pros directly to the fingertips of individual traders. As the number of day traders continues to surge in India, AlgoTest stands at the forefront. Empowering the retail trading community and reshaping the algorithmic options trading in India.


Edited by Shruti Thapa