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Frequently Asked Questions
Welcome to the MAPS Algo FAQ page. Here, we have compiled a list of frequently asked questions to help you better understand our services and offerings. If you have any additional questions, feel free to contact our support team.
What is MAPS Algo?
MAPS Algo is an automated trading software developed by Bot Universe Solutions Private Limited. It trades in NSE Nifty50 Index Options, executing trades automatically on behalf of clients.
How does the MAPS Algo work?
MAPS Algo operates by identifying trading opportunities in Put and Call options of Nifty. It trades on the Buy side only, automatically selecting the strike price for Call and Put options. The bot takes a maximum of only 3 trades each in Call and Put with a fixed-point trailing-stop-loss per trade and closes operations for the day once the preset profit target is achieved.
What are the benefits of using MAPS Algo?
MAPS Algo relieves investors and traders from the hard work of data analysis, trade placement, and position monitoring. Clients can continue with their daily activities while the bot manages their trading activities and aims to grow their capital efficiently.
What do I need to get started with MAPS Algo?
To get started, sign up on our platform, choose your broker option, and follow the instructions to set up your trading account with our preferred broker or link your existing account.
Am I required to login daily?
No, you need not login daily for the algo to trade in your account. There is no action required from you for the algo to work.
How does the algo connect to my account?
Your broker would provide you with API credentials on request. MAPS Algo connects to the trading account through API and places orders securely.
Are there separate charges for API?
Our Preferred Broker does not charge any fee for providing API facility for algo trading.
Except few, most brokers do not charge for API facility.
How do I monitor my trading performance?
You can monitor your trading performance through your broker app. We also publish the daily performance record in our social channels for full transparency.
How do I disconnect the algo if I desire so?
You are having the full control of your trading account. You can request us to disconnect the algo at any time. We would act upon your request immediately after the trading hours on the same day of your request. Alternatively, you can disable the API keys after the trading hours and inform us.
Is customer support available?
Yes, we offer dedicated customer support to assist you with any questions or issues you may have.
Can I use my existing broker account with MAPS Algo
Yes, you can use your existing trading account. However you should not place any manual trades in the account once bot is attached.
What are the benefits of using a preferred broker?
By using our preferred brokers, you can benefit from a complete waiver of the Account Maintenance Charges. Also you can enjoy reduced algo fee at 20% instead of the regular 30% profit share.
Can I switch between preferred and existing broker options?
Yes, you can switch between the preferred broker and existing broker options. Our fee would also vary as per the pricing structure for the option selected.
What are the charges for using MAPS Algo?
Our pricing structure includes two main charges:
- Account Maintenance Charges:** Rs. 500/- per month (payable quarterly in advance)
- Monthly Algo Charges:** 30% of the profits made by the algo in the preceding month.
We recommend using our preferred broker for availing waiver of maintenance charges and reduced algo fee of 20% of the profits.
What happens if I don't make a profit in a given month?
If no profits are made in a given month, the Monthly Algo Charges based on profit sharing will not apply. However, the Account Maintenance Charges will still be applicable if you are not using our preferred broker. Additionally, any losses incurred will be carried forward, and the fee will only be applicable after these losses are recovered from further profits.
How do I make a payment?
Payments can be made via UPI or bank transfer. Detailed instructions shall be provided on signing up for algo services..
What is the due date for payments?
- Account Maintenance Charges: On or before the 1st of every quarter in advance
- Algo Charges: Before the 7th of each month for the preceding month’s profits
What is the late payment policy?
If payments are not cleared by the due date, the subscription will be paused until the payment is made.
What happens if there is a technical failure?
Technical failures can impact trading performance. While we strive to maintain robust and reliable systems, we cannot guarantee uninterrupted service. Clients should be prepared for potential technical issues.
Is MAPS Algo a guaranteed way to make profits?
No, MAPS Algo is not a guaranteed way to make profits. Trading involves risks, and there can be periods of losses. Clients should only invest money they can afford to lose.
Do you give any assured/guaranteed returns?
No, we do not assure/guarantee the returns/profits on your trading capital. Trading involves risks especially algo trading.
Do you provide investment advisory?
No, we are not providing investment advisory. We do not handle client funds. We are not doing any investment/fund management activities. We are only a SaaS provider.
Who is responsible for compliance with regulations?
Clients are responsible for ensuring that their trading activities comply with all relevant laws and regulations. Bot Universe Solutions Private Limited provides the trading software but does not manage compliance on behalf of clients.
Are you SEBI registered ?
We are awaiting the final version of regulations from SEBI / Exchange regarding registration of Algo providers.
We would be registering ourselves as required under SEBI or similar regulatory authority as and when the regulations are in place.
