Sensibull Review

Category: Reviews | Author: Trading Brokers | Date: September 21, 2023

Sensibull, touted as India’s largest and most popular options trading platform, boasts an array of features and tools designed to empower traders in crafting, assessing, and executing options strategies with confidence. Beyond these offerings, Sensibull provides educational resources, virtual portfolios, market analyses, and more. But the pivotal question remains: Does Sensibull truly deliver value for your investment, especially in comparison to other options trading platforms on the market? This comprehensive article delves deep into Sensibull, scrutinizing critical facets of its services, including regulatory standing, platform functionality, educational support, market coverage, account options, and funding methods. Additionally, we’ll equip you with the insight needed to determine if Sensibull aligns with your options trading requirements.

Pros & Cons

  • Sensibull has a user-friendly interface that makes it easy and intuitive to use for traders of all experience levels
  • Sensibull has a strategy engine that helps users to create, analyze and execute options strategies with ease and confidence
  • Sensibull has market analysis that provides users with market insights, news, events, trends and sentiments for various underlying assets
  • Sensibull has virtual portfolios that allow users to trade without real money and practice their options trading skills
  • Sensibull does not offer its own trading accounts, but rather integrates with several brokers in India
  • Sensibull has limited customization options for the platform layout and alerts
  • Sensibull sometimes shows inaccurate or delayed data and faces technical issues

Summary

Sensibull Review

Sensibull Review

Sensibull, established in 2017 by Abid Hassan, a seasoned trader and engineer, is a dedicated online platform tailored for options trading within the Indian market. The platform benefits from the backing of Rainmatter Technology, a prominent fintech fund and incubator. Sensibull’s core mission revolves around simplifying, securing, and enhancing the profitability of options trading, catering to a diverse range of traders, from novices to seasoned experts. Offering a comprehensive suite of features and tools including a strategy builder, virtual portfolios, option chain analysis, open interest insights, option Greeks, market analysis, and position assessment, Sensibull aims to empower traders at every level.

The platform seamlessly integrates with several leading Indian brokers, including Zerodha, Angel One, Upstox, ICICI Direct, 5paisa, and IIFL, granting users access to real-time prices and trading directly through Sensibull. While Zerodha and Angel One users enjoy free access, other traders can subscribe to Sensibull’s services based on their chosen plan. Furthermore, Sensibull takes its commitment to education seriously, offering a wealth of learning resources such as webinars, videos, blogs, and podcasts to nurture users’ options trading skills. To foster a sense of community and knowledge-sharing, the platform provides a forum where traders can exchange insights and experiences.

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Regulation

Sensibull operates under the regulatory purview of the Securities and Exchange Board of India (SEBI) as a registered investment adviser (RIA). Its SEBI registration number, INH200006895, attests to its compliance with SEBI’s oversight in the Indian securities market. It’s important to note that Sensibull functions as an intermediary platform, facilitating connections between users and their respective brokers, while also furnishing options trading tools and guidance. Notably, Sensibull refrains from levying brokerage fees or commissions on its user base.

In strict adherence to SEBI’s guidelines and regulations for investment advisers, Sensibull diligently maintains records, discloses potential conflicts of interest, ensures the appropriateness of advice, abstains from misrepresentation, and safeguards the confidentiality of user data. The platform also aligns itself with SEBI’s circular regarding cybersecurity and the cyber resilience framework for stockbrokers and depository participants. In case Sensibull users encounter grievances or concerns related to the platform’s services, they retain the option to engage with the SEBI Complaints Redress System (SCORES), an online portal tailored to facilitate the lodging of complaints and tracking their resolution status. Please see a list of regulated brokers for some alternative options.

Platforms & Tools

Sensibull equips traders with a versatile platform accessible via the web and a dedicated mobile app, designed for seamless options trading experiences. By integrating their broker credentials, users can directly engage in trading through their respective brokers.

Sensibull Platform

Sensibull Platform

It’s worth noting that the platform is fee-free for Zerodha and Angel One users, while others can avail themselves of its services through subscription plans. Within Sensibull’s arsenal of features and tools lie several invaluable resources aimed at empowering users to craft, evaluate, and execute options strategies with precision and confidence:

  • Strategy Builder: This tool empowers users to craft custom options strategies tailored to their market perspectives, risk tolerances, and objectives. It offers insights into key aspects of each strategy, including payoff diagrams, option Greeks, breakeven points, maximum profit and loss, required margin, and probability of profit. Furthermore, users can adapt and personalize strategies to align with their preferences.
  • Virtual Portfolios: Users can engage in risk-free practice trading by creating virtual portfolios. This feature facilitates skill development and strategy refinement without real capital at stake. It also enables users to manage multiple virtual portfolios and track their performance over time. Additionally, users have the option to share their virtual portfolios or follow profitable traders verified by the platform.
  • Option Chain: Real-time access to option data is made easy with this tool, which presents information such as prices, open interest, implied volatility, option Greeks, and bid-ask spreads for all options contracts related to a specific underlying asset. Users can apply filters based on strike price, expiry date, option type, and more. Additionally, they can directly execute orders from the options chain interface.
  • Open Interest Analysis: Users gain insights into open interest distribution across various strike prices and expiry dates for a given underlying asset. The tool provides details on changes in open interest, net open interest, put-call ratios, max pain points, and option writing zones. Live charts depicting open interest, implied volatility, put-call ratios, and implied volatility percentiles are also available.
  • Option Greeks: This feature offers a comprehensive understanding of how option prices respond to factors such as underlying price, time to expiry, volatility, interest rates, and dividends. Users can view delta, gamma, theta, vega, and rho values for individual option contracts or combinations thereof. Interactive graphs illustrate the sensitivity of option Greeks to different variables.
  • Market Analysis: Sensibull supplies users with vital market insights encompassing trends, news, events, sentiment analysis, and price movements for various underlying assets. The platform integrates live price charts, technical indicators, candlestick patterns, support and resistance levels, and moving averages. Additionally, it provides historical volatility data, implied volatility percentiles, skewness, and kurtosis values.
  • Position Analysis: This tool empowers users to effectively manage their existing positions and optimize returns. Users can scrutinize vital details including current values, unrealized profits or losses, breakeven points, maximum profit or loss potential, margin requirements, and probability of profit for each position. Adjustments to positions, such as adding or removing contracts or altering expiry dates, can be executed. Users can also visualize payoff diagrams, option Greeks, and risk-reward ratios for each position.

Education

Sensibull places a strong emphasis on educating users to enhance their options trading skills. The platform offers a range of educational resources, catering to both free and premium subscribers:

  • YouTube Videos: Sensibull maintains an informative YouTube channel featuring a wealth of content covering diverse aspects of options trading. Users can access these videos at no cost and subscribe to the channel for regular updates.
  • Written Content: The platform hosts a blog where it publishes articles on various facets of options trading, encompassing concepts, tips, market insights, and more. These articles are available for free, and users can follow the blog for ongoing educational content.
  • Trader’s Manifesto: Sensibull offers a dedicated web page outlining essential principles and best practices for options trading. This resource serves as a valuable guide on critical aspects like risk management, discipline, and psychology, and it can be accessed without charge.
  • Strategies Cheat Sheet: Another web page provided by Sensibull offers insights into a variety of options strategies, complete with payoff diagrams and detailed explanations. Users can reference this resource for strategy selection and analysis, and it is accessible free of charge.
  • Platform Demo Videos: Sensibull maintains a playlist of instructional videos, demonstrating the effective use of its platform features and tools. These videos cover essential elements like strategy builder, virtual portfolios, option chain analysis, open interest insights, option Greeks, market analysis, and position analysis. They are available for free and serve as a valuable resource for users looking to optimize their trading experience.
  • Premium Education: Sensibull’s premium education offering provides structured courses covering a wide range of topics related to options trading, including market prediction, option strategies, and option Greeks, among others. Users can enroll in these courses for a fee of Rs 999 per month or Rs 4999 per year (for Zerodha and Angel One users) or Rs 1499 per month or Rs 7499 per year (for other brokers). Upon enrollment, users gain access to a comprehensive learning experience, featuring milestones to track progress, quizzes for assessment, supplementary text content for deeper understanding, and forums for interactive discussions. Certificates of completion are awarded to acknowledge the successful conclusion of courses. Additionally, users can leverage the platform’s interactive features to seek clarification on doubts and receive feedback from instructors and peers, enhancing their overall learning journey.

Markets

Sensibull caters to options traders in the Indian market, offering a diverse range of underlying assets for options trading. Users can engage in options trading across various asset types, including:

  • Indices: Sensibull provides options trading opportunities on major indices from the National Stock Exchange (NSE), including Nifty 50, Bank Nifty, Nifty IT, and Nifty FMCG. Users have the flexibility to trade options with different expiry dates, spanning from weekly to monthly durations.
  • Stocks: With a selection of over 200 stocks listed on the NSE, including big names like Reliance, HDFC Bank, TCS, and Infosys, Sensibull empowers users to trade options based on their preferred stocks. Similar to indices, options on stocks offer various expiry dates, ranging from weekly to quarterly.
  • Currencies: Sensibull facilitates options trading on major currency pairs actively traded on the NSE, encompassing pairs like USD/INR, EUR/INR, GBP/INR, and JPY/INR. Traders can explore options with diverse expiry dates, extending from weekly to monthly durations.
  • Commodities: Sensibull opens up options trading opportunities on key commodities featured on the Multi Commodity Exchange (MCX), including gold, silver, and crude oil. Traders can access options with different expiry dates, spanning from weekly to monthly.

Accounts

Sensibull offers three types of Accounts for its users: Free, Lite, and Pro. The Free plan is available for Zerodha and Angel One users, while the Lite and Pro plans are available for all brokers. The features and prices of each plan are as follows:

  • Free Plan: This plan offers basic features, such as option chain, open interest analysis, market analysis, position analysis, and virtual portfolios. Users can also access some educational resources, such as Youtube videos, written content, trader’s manifesto and strategies cheat sheet. This plan is free for Zerodha and Angel One users.
  • Lite Plan: This plan offers all the features of the Free plan, plus some additional features, such as strategy builder, option Greeks, live OI chart, IV chart, PCR chart, and IVP chart. Users can also access some premium education courses on market prediction and option strategies. This plan costs Rs 499 per month or Rs 2499 per year (for Zerodha and Angel One users) Rs 799 per month or Rs 3999 per year (for other brokers).
  • Pro Plan: This plan offers all the features of the Lite plan, plus some advanced features, such as futures conversion, event calendar, trade alerts, and unlimited virtual portfolios. Users can also access all the premium education courses on various topics related to options trading. This plan costs Rs 999 per month or Rs 4999 per year (for Zerodha and Angel One user) Rs 1499 per month or Rs 7499 per year (for other brokers).

Funding

Sensibull operates as an intermediary platform, facilitating connections between users and their respective brokers, while also providing essential options trading tools and guidance. Notably, Sensibull does not impose brokerage fees or commissions on its users.

To fund their trading accounts with affiliated brokers, users can avail themselves of various payment methods, including credit cards, debit cards, net banking, UPI, or digital wallets. Similarly, withdrawing funds from broker accounts can be executed using the same array of payment methods. It’s important to note that the funding and withdrawal procedures may vary depending on both the chosen broker and the selected payment method. Users are encouraged to review the specifics and associated charges for the funding and withdrawal processes directly with their respective brokers.

Conclusion

In summary, Sensibull emerges as a robust options trading platform tailored for the Indian market, providing an array of powerful tools and educational resources. With its SEBI registration and support from leading brokerage firms, Sensibull offers a secure environment for traders to engage in options trading. The platform’s features, including the Strategy Builder, Virtual Portfolios, and Market Analysis, equip users with the necessary tools to make informed decisions and improve their trading strategies.

Nevertheless, it’s essential to acknowledge that while Sensibull boasts strong features, there are other brokers with longer-standing reputations in the industry that may be worth exploring as alternative options. For a broader spectrum of choices, we encourage you to delve into our trading broker reviews.

Sensibull Logo

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Sensibull is an options trading platform that integrates with several leading brokers in India and offers various features and tools to help traders create, analyze and execute options strategies.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.


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