Options Trading as a trend is on the rise these days and is gathering more Retail attention. Due to this, the Option Trading platforms which provide tools for options traders are equally in high demand. Quantsapp and Sensibull are two of the prominent players in this field. Identify what are the differences, similarities, and which one to choose among the two.
Before looking at the comparison of these two platforms lets have a look at the details and working of the two platforms individually
Quantsapp is an options analytics platform that provides many tools and features for options traders. The primary motive of this platform is to increase the overall profitability of retail traders. Quantsapp has many unique features such as the Trap indicator, Straddle Index which is not commonly found in other platforms.
Apart from the tools and features, Quantsapp also has an advisory service through which it provides Short and Medium-term and trading calls to its clients.
Sensibull is India’s largest trading platform that is backed by India’s largest Stock Broker Zerodha, which provides Option trading tools. Sensibull is also India’s first option trading platform founded in 2017 that provides many powerful tools to increase the chances of winning for a retain individual.
One can use Sensibull to directly execute trades as it is mapped to the brokers terminal which makes it very easy to use. Some of the features of Sensibull include Options Chain analysis, Creating and Back-testing option strategies, OI (Open Interest Analysis), Virtual trade, Strategies Wizard, etc.
While comparing “Quantsapp” and “Sensibull”, it is clear that many features offered by both the platform are similar, like the Open Interest analysis, Option Chain analysis, Event calendar, etc.
There are some features that are unique in either of them, The Trap Indicator offered by Quantsapp is a unique feature that Sensibull lacks. Quantsapp also provides a unique and colorful layout for depicting the OI in stocks and Indices. In the same way, the Strategy Wizard is a unique tool offered by Sensibull along with Virtual trading which is not offered by the other. Sensibull indeed offers a broad variety of tools for strategy building that Quatsapp lacks.
In the terms of Pricing, Sensibull takes the lead as the Lite plan offered by Sensibull is just for Rs 590 per month and the Pro plan is available for just Rs 800 per month. On the other hand, the Pro plan in Quantsapp costs a whopping Rs 2950 per month. This makes Sensibull a certain winner in terms of the “Value for Money” proposition.
In terms of Customer support and complaint resolution, Sensibull might be preferred as it is the largest Options trading platform and is also backed by Zerodha. This makes it more trustworthy and reliable when considered the Brand Value of Zerodha.
After looking at the features and the pricing of both the products it can be stated that Sensibull might be a better option for most of the consumers out there. The reason being, it offers almost all the features and some extra features like Virtual Trading, Options Learning, etc. Sensibull offers all these features at a fraction of the cost of Quantsapp. Quantsapp has an added feature known as the Advisory Service where it charges a hefty fee to provide trading calls to the subscribers. This is the only thing that HNI’s might consider if they want a SEBI registered team to assist them with their trades.