Algotest has become a buzzword in India’s trading circles, especially among options traders who want to automate their strategies without learning coding.
For some, it feels like a dream tool: backtest, paper trade, then go live, everything on one screen.
But here’s the tough reality: even the most loved platforms can have complaints, glitches, and unhappy users whose losses don’t show up in glossy marketing videos.
This blog walks through what Algotest really offers, what users like, where things go wrong, and how you can actually report those issues instead of just venting in a Telegram group.
If you’re thinking of using Algotest or already relying on it, read this fully before you risk serious money.
Algotest Review
Algotest is a no-code algo trading ecosystem built mainly for Indian options and futures traders, where you can backtest strategies, paper trade, and then deploy them live with connected brokers.
The platform focuses heavily on options trading, letting you design strategies visually using indicators, price patterns, and custom logic instead of writing code.
It offers a browser-based interface where you can move from backtest to forward test and live algo trading using the same strategy rules.
Many tools are available at low or no fixed subscription cost, with access controlled through a credit system, which makes it attractive for retail traders who don’t want to commit to high monthly fees.
Key features of Algotest
Algotest provides backtesting with historical data, paper trading in live markets with virtual capital, and full algo trading where your predefined rules execute trades automatically.
It integrates with a large list of Indian brokers so you can connect your own trading account and run strategies directly without manual order punching.
Pricing is credit-based: for example, 100 backtests cost 100 credits with no expiry, and there are various “limited” and “unlimited” backtesting plans; forward testing and live trading also consume credits per strategy or billing cycle.
If you are considering using Algotest, you must consider the complaints against the platform.
Algotest Complaints
Reviews from third‑party sites and creator channels often highlight Algotest as an easy-to-use, cost-effective algo platform, and a lot of user feedback is positive.
But that does not cancel out the smaller pool of negative experiences where people have faced real monetary losses or serious frustration.
Let’s zoom in on these real user reviews from Algotest’s page, as they’re the kind of raw feedback that hits home for anyone dipping their toes into algo trading.
Take the first one from Mitesh: he says his strategy showed solid profits in paper trading and even forward testing, but when he went live, it bombed into losses within 5 seconds, leaving him feeling like the whole site might be a fraud.
That’s brutal, right?
Imagine building confidence through tests, only to watch real money evaporate instantly because the logic didn’t hold up. It’s the kind of mismatch that shakes your trust and can wipe out your account before you even blink.
Then there’s Fityan, who had a nightmare with the software bugs making the website super misleading; he shelled out for a monthly daily plan, but it turned into a frustrating mess.
These aren’t just gripes, but they hit your wallet directly, wasting time and cash on a platform that’s supposed to make trading easier, not turn it into a headache of unreliable results and buggy access.
You can see Algotest’s customer care jumping in quickly to reply to every single one, asking for phone numbers or Telegram details to sort things out personally.
It looks responsive at first glance, like they actually care about fixing issues. But hold on and wait until you scroll through more reviews, because that’s where the real story flips.
Now check out these reviews packed with complaints:
Mareddy straight-up says zero customer support after paying for an 8-month subscription, Ankit Saini complains the office contact number isn’t picking up calls and he even asks for the office address, and Inderjeet Mar complains about no contact with customer support at all.
See the pattern?
Multiple people across months are yelling about ghosted support, ignored calls, and zero follow-up after they’ve already paid big bucks.
It’s like the quick replies are just a band-aid, but when push comes to shove, you’re left hanging. It is super frustrating for traders who need help fast in volatile markets.
These stories show why even “good” platforms deserve a deep dive: one bad support experience or backtest failure can cost you real money, no matter how shiny the features look.
How to File a Complaint Against Algotest Software?
If you have a complaint against software like Algotest, take immediate action and file a report by following the steps below:
1. Gather evidence
Before filing any complaint, collect and organize:
- Purchase receipts or invoices
- Subscription details (date, amount, payment method)
- Screenshots/videos of errors, misleading claims, losses, or malfunctions
- Email or chat communications with Algotest support
- Terms of Service, refund policy, and marketing claims
2. Contact Algotest Directly
Most regulators require that you attempt resolution with the company.
- Use their official support email, contact form, or ticket system
- Clearly state:
- What went wrong
- When it happened
- What resolution do you want (refund, fix, cancellation)
Keep all communication in writing and save responses.
3. Lodge a complaint in SCORES
If you haven’t received any response from Algotest, you can report it to SEBI.
- Register on SCORES platform
- Draft your complaint
- Attach all proof
Need Help?
We understand that it becomes very frustrating when all our hard-earned money just vanishes in seconds. In case you are confused about how to report fraud or scams online, register with us now.
We will guide you with the process and help you in filing your complaint online. Also, guide yo with the escalation of complaint to get recovery of your losses.
Conclusion
Algotest brings powerful tools like backtesting, live algo trading, paper trading, and integrations within reach of everyday Indian traders who don’t know how to code. This is a big deal in a market where manual execution errors are common.
Its pricing model, educational videos, and documentation make it easier for a retail trader to experiment and learn without paying massive monthly subscriptions.
At the same time, no algorithm platform is magic. Backtests can be wrong, payment systems can fail, and customer support can be slow on bad days. And, when that happens in leveraged products like options, the pain is very real even if the number of affected users looks small on paper.
If you choose to trade with Algotest, treat it as a tool, not a guarantee: double-check your strategies, monitor live deployments closely, document everything, and be ready to raise formal complaints when needed.
In algo trading, the platform can be smart, but the real safety still comes from your own vigilance.
