Quick Summary
First Trade Research offers two algo-based products, Algo Index and Algo Options, priced up to ₹1,25,999 for a single half-yearly plan. Annualised, the Algo Options plan can exceed ₹3 lakh, well above SEBI’s ₹1,51,000 individual fee cap. SEBI’s February 2025 circular requires every algo strategy to carry an exchange-assigned Algo ID, information First Trade Research’s website doesn’t publicly disclose. This page covers both products, the full pricing, and exactly what SEBI’s algo framework requires.
Have you ever seen an advisory platform label its service “AI-powered” and thought, finally, something smarter than the usual tips business?
A lot of retail traders think exactly that.
The word “algo” carries real weight. It sounds technical. It sounds objective.
And when a SEBI-registered research analyst puts that label on a subscription product, it feels legitimate enough to pull out a credit card.
But what exactly are you buying when you subscribe to an algo service from a research analyst firm?
First Trade Research Algo Review
First Trade Research offers two algo-based products under its “AI Services” section, alongside its manual research services.
Here’s what each product looks like up close.
1. Algo Index: What You Get
| Feature | Details |
| Service Type | Algo-generated index option recommendations |
| Monthly Calls | 20-25 recommendations per month |
| Ideal For | Retail traders in index options |
| Minimum Investment | ₹30,000 |
| Delivery Method | Software and SMS |
| Follow-Up | Yes |
Pricing:
| Plan | Price |
| Monthly | ₹15,999 |
| Quarterly | ₹39,999 |
| Half-Yearly | ₹69,999 |
Now do the annualised math. Two half-yearly plans in a year would cost ₹1,39,998.
That stays just under SEBI’s ₹1,51,000 annual fee cap for individual clients.
But if a trader buys two quarterly plans and then extends with a monthly plan mid-year, the total crosses that ceiling.
It’s worth calculating your own annual commitment before you sign up.
2. Algo Options: What You Get
| Feature | Details |
| Service Type | Algo-generated options strategy recommendations |
| Monthly Calls | 30-40 recommendations per month |
| Ideal For | Retail traders in options strategy |
| Minimum Investment | ₹50,000-₹1,00,000 |
| Delivery Method | Software and SMS |
| Follow-Up | Yes |
Pricing:
| Plan | Price |
| Monthly | ₹31,999 |
| Quarterly | ₹75,999 |
| Half-Yearly | ₹1,25,999 |
Here’s where the numbers get uncomfortable. The half-yearly plan alone costs ₹1,25,999.
Two of those in a year total ₹2,51,998, well above SEBI’s ₹1,51,000 individual annual fee ceiling for research analyst services.
Even a single quarterly plan (₹75,999) multiplied by four comes to ₹3,03,996 annually.
Traders evaluating this product need to run these figures themselves.
The per-plan sticker price does not tell you the full annual story.
Also Read: Manish Goel research analyst, a 112% return claim, no audit behind it.
What SEBI Actually Says About Algo Trading Services, and Why It Matters?
This part matters more than most traders realise, and it’s directly relevant to any First Trade Research algo review.
SEBI issued a landmark circular in February 2025, titled “Safer Participation of Retail Investors in Algorithmic Trading,” that fundamentally changed how algo-based services must operate in India.
The framework came into full effect from August 2025.
White Box vs. Black Box Algos
Two categories of algorithms now exist under SEBI’s framework.
- White Box (Execution Algos): The logic is fully visible to the user. These are execution tools like slicers and VWAP strategies. Lower regulatory burden.
- Black Box (Non-Disclosed Algos): The logic is proprietary or hidden. The user cannot see how the system generates its output.
For these, SEBI requires the provider to hold a Research Analyst registration and maintain a detailed strategy report for every algorithm.
First Trade Research holds a valid Research Analyst registration; that part checks out.
Does First Trade Research’s Algo Have a Valid Algo ID?
But here’s what every subscriber should then ask: has the algo strategy been registered and approved by a stock exchange?
Because SEBI’s 2025 framework requires that every algorithm used in retail client services must carry a unique exchange-assigned Algo ID.
No live market deployment is permitted without exchange approval.
The First Trade Research algo pages describe services delivered via “Software and SMS.”
The website does not mention exchange-registered Algo IDs, empanelment with NSE or BSE as an algo provider, or any broker-principal arrangement as required under the new framework.
That does not automatically mean these requirements haven’t been met.
It does mean the information isn’t publicly visible on the platform, and for traders subscribing to an algo service in 2025-26, that transparency gap is worth asking about directly before you pay.
The right questions to ask any algo service provider right now are:
- Is your algo strategy registered with NSE or BSE, and does it carry a valid Algo ID?
- Are you empanelled with a stockbroker as the principal in your algo arrangement?
- Do you maintain a detailed strategy report for the algorithm’s logic and methodology?
If those answers aren’t clear, pause before subscribing.
Does “Earn Maximum Profit Every Day” Violate SEBI Rules?
Let’s pull something specific from the First Trade Research AI services page.
Under the “Quality” section, the website says: “We provide the best quality calls to our customers to make them earn a maximum profit every day.”
Read that carefully. The phrase “earn a maximum profit every day” is a strong claim.
It implies daily profitability as a consistent outcome.
SEBI’s regulations for research analysts are unambiguous on this point. No RA can directly or indirectly assure or imply fixed profits or guaranteed returns to clients.
Language that positions the service around earning profit every day edges toward exactly the kind of communication SEBI’s compliance rules flag.
Their disclaimer page does walk this back correctly, stating that trading is subject to market risks and that no profit is guaranteed.
But that disclaimer sits several clicks away from the services page where the “maximum profit every day” language appears.
The gap between what the services page implies and what the disclaimer page clarifies is something traders should read with open eyes, not assume away.
Considering an algo subscription and want to understand what SEBI actually requires first?
Tell us which plan you’re evaluating, and we’ll help you check it against what First Trade Research’s registration actually permits.
What to Verify Before Subscribing to Any Algo Service Like First Trade Research?
Whether you’re evaluating First Trade Research or any other algo advisory platform, these checks are non-negotiable under the current regulatory landscape.
- Confirm exchange empanelment. SEBI’s 2025 framework requires all algo providers to be empanelled with stock exchanges before brokers can onboard them. Ask directly whether the provider meets this requirement.
- Ask for the Algo ID. Every exchange-approved algo must carry a unique identifier. If a provider cannot share this, the strategy may not yet be formally registered.
- Understand what “black box” actually means for you. If the algo logic isn’t disclosed to you, you’re trading blind on someone else’s system.
- Calculate the full annual fee. Especially for the Algo Options plan, the annualised cost can significantly exceed what the per-plan price suggests.
- Minimum investment is not the subscription fee. Add that to the subscription cost when calculating your total outlay.
- Clarify what “follow-up” means practically. Confirm what this covers, trade exit guidance, stop-loss revision, or only entry calls, and get that in writing.
For real user accounts and the firm’s own complaint board data, our First Trade Research reviews page covers that in full.
How to File a Complaint If Something Goes Wrong?
An algo call that never fired the way it was supposed to. A subscription that promised structured, systematic recommendations and delivered confusion instead.
If you subscribed to any First Trade Research algo product and the experience didn’t match what was described, you’re not without options.
The complete step-by-step process, from documenting your evidence through SCORES, SMART ODR, and arbitration, is covered in full on our page on how to complain against First Trade Research.
Disclaimer: The observations above are drawn from First Trade Research’s own published website content and SEBI’s public regulatory framework. No SEBI adjudication order has been issued against the firm as of this writing.
Conclusion
The First Trade Research algo review picture is this, the firm carries a valid SEBI Research Analyst registration and offers two structured algo products.
But the algo products raise questions that traders deserve honest answers to.
The Algo Options plan’s pricing exceeds SEBI’s annual individual fee cap when annualised.
The “maximum profit every day” language conflicts with what SEBI permits research analysts to imply.
And the absence of publicly disclosed exchange registration details for the algo strategies leaves a transparency gap that matters under SEBI’s 2025 framework.
None of this is a verdict. But it’s exactly the kind of picture you need to see clearly before you pay, not after.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
Yes, provided they hold valid RA registration, which covers black box algo strategies under SEBI's 2025 framework. However, the algo must also be exchange-registered and routed through a broker acting as the principal.
Algo Index focuses on index option segment calls (20-25 per month) with a ₹30,000 minimum investment. Algo Options covers broader options strategies (30-40 calls per month) and requires ₹50,000 to ₹1,00,000 in trading capital, at roughly double the cost per billing cycle.
No, the minimum investment is the capital you need in your trading account to execute the algo recommendations. It's separate from the subscription fee paid to First Trade Research.
Collect all records of the recommendation, your execution details, and the outcome. Raise the issue formally with the firm before deciding whether to escalate to SEBI SCORES.
The website doesn't explicitly state lock-in terms. Confirm cancellation and refund terms in writing directly with the firm before subscribing to any plan, especially quarterly or half-yearly ones.
Add us as a preferred source on Google »
