Foxtrader is a Stock Market technical analysis platform from Reliable Software in India.
Foxtrader has gained popularity among Retail traders in India during July 2017. This is when upstox partnered with Reliable Software company. Upstox clients can sign up with reliable and trade from FoxTrader. Zerodha has plans to follow Upstox and have a tie-up with Reliable Software Company.
Foxtrader is a subscription-based Trading platform. The Foxtrader has a standard and a premium version. The more features and segments you activate on the platform the more you pay. The standard version of Foxtrader for NSE cash segment cost 1200 INR per month.
Notable benefits of using Foxtrader from Reliable Software.
1) Foxtrader has a very good charting platform with almost all the indicators you will need and is very reliable.
2) The Foxtrader supports features like tick screening, group scan, signal generators etc.
3) Trading directly from an advanced technical analysis platform like Foxtrader makes life easier.
4) FoxTrader Subscription is good if you are already a profitable trader and don’t mind forking out an extra 8k per year to make your trading more luxurious.
Drawbacks with FoxTrader.
1) Foxtrader is still in the improvising stage. While testing the platform I had come across few bugs. Some of the reported bugs were soon corrected with new updates to the platform.
2) Except for the charts, the scanning features on the platform does not work after market hours. This makes it impossible for you to fine-tune your settings after market hours. Foxtrader does not support EOD Screening of stocks.
3) Reliable Software seems to have employed many people in the back-office. Even with a massive workforce the after sales service is very lethargic. I have asked the support team to help me set up few scanners, a week passed by and no follow up. When you approach them for help which is not of the easy kind, they just ignore your request and go into hiding. If you need help on setting up screeners on FoxTrader, make sure you speak directly with Dinesh on the Reliable customer support line. Only Dinesh can easily understand what you are talking about and help you set up the scanners quickly.
4) Unless you know how to handle complicated trading systems and platforms, just go with the trial to see if this is really your cup of tea.
5) If you are using the standard version of foxtrader as an Upstox or other brokerage clients. Reliable has intentionally restricted the use of many useful indicators on the Standard version.
(The above review has been done during JULY 2017 and a lot must have changed since then.)
ZERODHA and Foxtrader Updates :
Zerodha has temporarily abandoned their plan to partner with Foxtrader Platform.
They have made the following disclosure on their TradingQnA Forum during October 2017.
A follow up to the above review, by Deepali another foxtrader user.
(Deepali a foxtrader user has requested to add the following updates to the above article)
Yes, I am a FoxTrader User.
Gone thru your article, found it really useful except few points.
1. The scanning feature is working aftermarket hours also, as I am able to back test my strategies properly.
2. I have interacted with many people in Reliable Support – All are very cooperative.
During market hours ,they are not entertaining for strategy building but overall support I found ok
3. Regarding complicated nature of application, as compare to AmiBroker ,I Found it is much easier.
Many indicators are ready to use and with standard parameters as default.
I used free trial version FoxTrader. Upstox & Fox Net standard also.
4. I had used FoxTrader.Upstox (Standard & Premium ) both. Strategies made in standard versions are also working in premium and vice versa.
Yes they have kept some set of indicators in Premium version only but till now I do not found any major restriction in strategy building.
5. Compared with many products available in market, price is quite affordable with a bag full of features..
Kindly check FoxTrader /Fox Net latest version and re access all your findings again.