ODIN Vs Upstox Trading Platform Comparison

Compare Trading Platform ODIN and Upstox. Find similarities and differences between ODIN and Upstox Trading Softwares. Find the most powerful trading platform. Find which trading software is better among ODIN and Upstox.

ODIN Vs Upstox

  ODIN Upstox
ODIN Logo Upstox Logo
About Trading Platform

63 moons is a financial service company offering its services in the area including Exchange Technology Solutions, Brokerage Technology Solutions, and Risk Solutions. Company's flagship product ODIN is among the leading trading platforms in India. ODIN offers end-to-end online trading solutions to brokers in India.

ODIN Trader Work Station is an integrated Dealer trading application, with real-time exchange broadcast, Order Management, Trading reports along with various Decision support and Alert generating tools inbuilt to aid the dealers in making an informed decision at the time of transactions.

The uses of its software have declined sharply after the company chairman was jailed because of the fraud transactions at NSEL 2013. ODIN is still used by many top financial service providers in India and across the world.

Upstox is a web-based trading platform introduced in 2016. The platform provides a range of features for customers to analyze their trades and trade across stocks, commodities, currencies, futures and options across NSE, BSE and MCX.

Platform Owner 63 moons technologies limited RKSV Securities
Trading Segments Offered NSE, BSE, NSE FNO, Currency, MCX and NCDEX Commodity

Equities, Currency and Derivatives

Products Offered CNC, MIS, NRML, BTST, BO, CO, BTST, MTF

MIS, CNC, NRML

Order Type Offered RL, SL, ST, AON, MF, MIT Limit, Market, Stop Loss, Stop Loss Market, Cover Orders, Bracket Orders
Supported Exchanges BSE, NSE, MCX, NCDEX

NSE, BSE, MCX

Brokers using this platform
Order Management System (OMS) ODIN OMS

Omnesys NEST OMS

Risk Management System (RMA) ODIN RMS

Omnesys NEST RMS

Trading Platform Enquiry Open Account Open Account

ODIN Vs Upstox Review

  ODIN Upstox
Highlights

ODIN trading software is used by over 1000+ brokers / financial institutes in India. It is a stable, fast and a powerful trading platform for trading at BSE, NSE, and MCX. Here are a few key highlights of the ODIN Diet:

  • ODIN is the oldest and most used trading platform. It had over 75% market share in 2015.
  • ODIN provides end-to-end solutions for Brokers. It includes Front Office, Middle Office, Back Office Clearing, Settlement, Accounting, and Messaging Solutions.
  • The company offers Managed Service for ODIN. This means they take care of hardware, software, exchange connectivity, client connectivity, backups and disaster recovery on behalf of the broker.
  • ODIN has integrated OMS and RMS.
  • Offer API to brokers. The brokers can develop their own front-end applications using these APIs.
  • ODIN Diet trading terminal is the strongest offering by the company. This market dominance product is the best tool available for trading for frequent traders and dealer desks for over 2 decades. 

ODIN had a monopoly in the trading solutions business until 2013. The growth of the product stalled after the owner got caught in 2013 fraud at NSEL. The company's fate is in limbo as the prosecutors are trying to recover over Rs 5000 Cr.

  • Built in-house by upstox engineers from scratch.
  • HTML5 browser-based trading platform.
  • Mobile trading app for on-the-go trading and monitoring.
  • 100+ technical indicators.
  • 10 drawing tools to make analysis easy.
  • Opens 5 different windows at a time.
  • Customizable workspace.
  • Easy to use interface
  • Doesn't offer installable trading terminal.
  • Uses powerful Omnesys API, RMS and OMS in the background.
Features

ODIN Diet is a comprehensive trading tool. It offers to trade in equity, currency, and commodity, all under one screen and with one login. You can trade at BSE, NSE, MCX, and NCDEX.

ODIN Diet is built for frequent trader and for dealers who place orders on behalf of customers. Other than the standard trading features, here are some of the key features of the ODIN Trading Platform:

  • ODIN offers online trading through it's desktop, web and mobile trading apps.
  • ODIN Trading Terminal (ODIN Diet) is the most powerful and popular trading terminal for the desktop.
  • ODIN offers access to all asset classes at multiple exchanges.
  • ODIN has an integrated OMS and RMS which makes it fast, stable and reliable.
  • It has integrated DP and back office.
  • ODIN is also offered as managed services. This means the broker doesn't have to bother about maintaining the trading platform. This results in far less downtime.
  • Plug-ins are available for advanced users.
  • 3rd party plug-ins can be installed on ODIN. This feature is not available on other trading platforms.
  • It supports multiple market depth windows
  • It allows the user to create custom indicators that are now possible in NSE NOW and Omnesys NEST.

Key features of the platform are:

  • Trade in stocks, F&O, currencies and commodities through a single window.
  • Powerful charting tools with 100+ indicators to deeply analyze scrips.
  • Real-time data feeds on the scrips.
  • Access predefined stock list and indices.
  • Universal search tool.
  • Prepare a list of stocks with detailed information in quote panel.
  • Set price alerts for desired scrips.
  • Buy and sell stocks in one click.
  • Customizable workspace.
  • Add widgets to create a personalised experience.
Advantages
  • Robust and stable trading platform. Trusted by over 800 brokers for 20 years.
  • Advanced charts and advance order types are available.
  • Allow customers to create custom indicators.
  • Built in-house. New features are added frequently.
  • Built using the latest technology.
  • Truly zero brokerage for equity delivery (cash & carry) orders.
  • Flat Rs 20 per trade for orders in all other segments.
  • Advance order type like BO and CO are available.
Disadvantages
  • The parent company is in trouble because of the fraud at NSEL.
  • This trading platform is not offered by any discount broker.
  • Features like Back-Testing, Semi Algo Trading, Bracket Orders are missing
  • Slow in adopting new technology, especially in front-end of the application.
  • Longer turnaround time in incorporating new feature.
  • Installable desktop trading terminal is not available.
  • Mutual funds are not available as part of this trading platform.
  • No trading tips, news or major event alerts in the app.
  • GTC/GTD orders are now available.

ODIN Vs Upstox Features

  ODIN Upstox
Installable Trading Terminal Yes No
Trading Website Yes Yes
Mobile Trading App Yes Yes
API Access Yes Yes
Offered by Multiple Brokers Yes No
Equity Trading Yes Yes
Currency F&O Trading Yes Yes
Commodity Trading Yes Yes
Online IPO Application Yes No
Online Mutual Funds Yes No
Integrated Backoffice Yes No

ODIN Vs Upstox Charts

  ODIN Upstox
Chart Types Supported 13
Chart Indicator 100 100
Place Orders from Chart No No

Trading Platform Definitions and Abbreviations

  • Back-Office - The back office application facilitate trade analysis, managing funds in the trading account, managing portfolio, pledged holdings, P&L Statements, reports related to tax filings, end of day reports and historical data.
  • OMS – An Order Management System is a software program developed to execute market transactions in an efficient and cost-effective manner. Stockbroker uses OMS to manage orders received from customers.
  • RMS - The risk management system of Trading Platform. This core component manages various risk components while trading. This includes making sure that customer has enough margin available for open positions and take the required actions in case of short of capital.
  • Trading Product Types
    • MIS - Margin Intraday Square-off
    • CNC - Cash n Carry
    • NRML - Normal F&O trades
    • BO - Bracket Order
    • CO - Cover Order
    • AMO - After Market Order
  • Order Types
    • Market Order
    • Limit Order
    • SL Order - Stoploss or trigger
    • SL-M Order - Stoploss Market
  • Exchanges
    • BSE - Bombay Stock Exchange
    • NSE - National Stock Exchange
    • MCX - Multi Commodity Exchange







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