Which Backtesting Software is Best for Systematic Traders?

MultiCharts VS Optuma: Which Trading Software is the Best? - Table of Contents

MultiCharts vs Optuma: Comparing Backtesting Software for Systematic Trading

If you’re choosing between MultiCharts and Optuma for backtesting and developing your trading systems, the best choice depends on your priorities.
MultiCharts is stronger for serious quantitative traders who need flexible scripting, multi-broker integration, and powerful backtesting. Optuma shines for institutional-grade visualization, custom indicators, and market breadth analysis but is weaker in system development realism.

For most systematic traders focused on consistent execution, MultiCharts offers more versatility and better long-term value. But there’s nuance – so let’s break it down.

MultiCharts vs Optuma at a Glance:

Short on time? Here’s how MultiCharts vs Optuma compare side by side.

Feature	MultiCharts	Optuma
Operating System	Windows only	Windows; Cloud version (Enterprise only)
Scripting Language	PowerLanguage (EasyLanguage compatible)	OSL (proprietary)
Strategy Backtesting	Portfolio-level backtesting & walk-forward	Basic testing; portfolio-level in Enterprise
Optimization	Genetic, exhaustive, walk-forward	Brute force, no walk-forward (unless Enterprise)
Charting	Advanced multi-timeframe	Highly customizable & institutional-grade
Automation	With brokers (IB, CQG, TradeStation, etc.)	Limited execution (IB only)
Learning Curve	Moderate (especially if familiar with EasyLanguage)	Steep for scripting; GUI easier
Cost	Lifetime or subscription	Subscription only (from ~$810/year)
Documentation & Support	Solid knowledge base & forum	Steep learning curve; documentation mixed

Platform Overview, Cost & Compatibility

MultiCharts is a Windows-only platform designed for traders needing high-performance backtesting, charting, and execution. It supports multiple brokers and uses PowerLanguage, which is very similar to EasyLanguage. You can choose between a lifetime license or a subscription.

Optuma, by contrast, is positioned more toward institutional analysts and technical researchers. It’s also Windows-based but offers a cloud version for enterprise users. The subscription model ranges from ~$810/year (Trader edition) to over $3,000/year for full features.

If you’re trading systematically with your own capital, MultiCharts gives better flexibility and a more scalable cost structure.

MultiCharts Main View:

Optuma Main View:

Market Access & Data Support in MultiCharts vs Optuma

MultiCharts integrates directly with a wide range of brokers and data providers – Interactive Brokers, CQG, Rithmic, and more. This means you can backtest and trade live from one platform without switching tools.

Optuma also supports Interactive Brokers but is less versatile for automated live trading. Its data integration is excellent for institutional feeds (Bloomberg, Reuters), but overkill for the average independent trader.

Verdict: MultiCharts wins on integration and practical connectivity for retail traders.

MultiCharts Backtesting Interface:

Optuma Backtesting Interface:

Building & Customizing Trading Strategies

MultiCharts uses PowerLanguage, which is similar to EasyLanguage, making it relatively easy to get started if you’ve used platforms like TradeStation or AmiBroker.

Optuma has a proprietary scripting language (OSL), which is more complex and less widely adopted. While its GUI builder is useful, system developers will find the scripting less intuitive than MultiCharts.

MultiCharts supports modular strategy development, multiple timeframes, and portfolio-level simulations, making it a more robust option for serious trading system development.

Check Out: Trading System Development

MultiCharts Code Editor (PowerLanguage):

Optuma Code Editor (Script Manager):

Backtesting Performance, Speed & Realism

MultiCharts provides fast, event-driven backtesting, including portfolio-level simulation and walk-forward testing out of the box.

Optuma’s backtesting is more focused on single-symbol testing and requires the Enterprise version for true portfolio-level testing and walk-forward analysis. There’s also less transparency on slippage modeling, position sizing, and execution constraints.

If you’re building strategies that require realism – including drawdown control, slippage, or dynamic position sizing – MultiCharts is clearly superior.

Check out: Backtesting | Drawdown

MultiCharts Backtest Report:

Optuma Backtest Report:

Strategy Optimization & Stress Testing Tools

MultiCharts includes genetic and exhaustive optimizers, as well as walk-forward analysis and custom fitness functions. You can simulate real-world variability in inputs to test robustness against curve fitting.

Optuma does support parameter optimization, but walk-forward testing and Monte Carlo are only available in higher Enterprise tiers, making it less accessible for independent traders.

Robustness testing is critical to avoid curve fitting. With MultiCharts, you get more transparency and more tools without needing institutional licenses.

Check Out: Trading System Optimization

MultiCharts Walk-Forward Parameters:

Charting Features, Signal Exploration & Live Execution

Optuma’s strength lies in its highly customizable charts, breadth indicators, and institutional-grade scanning tools. If your work leans heavily on technical analysis or market breadth studies, Optuma offers unique capabilities.

MultiCharts offers advanced multi-timeframe charting, indicator overlays, and scanning, though not as visually polished as Optuma. However, it integrates directly with brokers for automated execution, which Optuma does not (except via limited IB support).

If your workflow depends on execution automation, MultiCharts is the better choice.

Check Out Order Types | Automated Trading Systems

MultiCharts Automation Set Up:

Optuma Automation Set Up:

Support, Documentation & Learning Resources

MultiCharts has a comprehensive online knowledge base, a responsive forum, and plenty of third-party resources due to its EasyLanguage compatibility.

Optuma’s documentation is more fragmented, and its proprietary scripting language adds to the learning curve. GUI workflows are easier, but complex system development requires more effort.

For traders who value time efficiency, MultiCharts wins again.

MultiCharts Forum Front Page is illustrated down below:

Optuma Forum Front Page is illustrated down below:

MultiCharts vs Optuma: Which One Should You Use?

For systematic traders who want to develop, test, and automate trading systems quickly and realistically, MultiCharts offers more power, realism, and flexibility.

Optuma is best suited for advanced discretionary traders, researchers, or institutions doing technical market analysis, but it lacks the robustness tools and automation retail system traders need.

Our Recommendation

If you’re serious about systematic trading, building your edge, and saving years of trial-and-error, choose MultiCharts. It gives you the tools to build, backtest, optimize, and even automate your trades with more realism and control.

That said, if charting, visualization, and research are your priority, and you’re not concerned with automation or portfolio-level backtests, Optuma may serve your needs.

But for most traders who want consistency, automation, and confidence in their trading rules – MultiCharts is the better backtesting software.

Want The Rest of the Puzzle?

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Trading and Backtesting Software Review List

Check our our Trading and backtesting software review hub

Adrian Reid Founder and CEO

Adrian is a full-time private trader based in Australia and also the Founder and Trading Coach at Enlightened Stock Trading, which focuses on educating and supporting traders on their journey to profitable systems trading. Following his successful adoption of systematic trading which generated him hundreds of thousands of dollars a year using just 30 minutes a day to manage his system trading workflow, Adrian made the easy decision to leave his professional work in the corporate world in 2012. Adrian trades long/short across US, Australian and international stock markets and the cryptocurrency markets. His trading systems are now fully automated and have consistently outperformed international share markets with dramatically reduced risk over the past 20+ years. Adrian focuses on building portfolios of profitable, stable and robust long term trading systems to beat market returns with high risk adjusted returns. Adrian teaches traders from all over the world how to get profitable, confident and consistent by trading systematically and backtesting their own trading systems. He helps profitable traders grow and smooth returns by implementing a portfolio of trading systems to make money from different markets and market conditions.

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MultiCharts VS Optuma: Which Trading Software is the Best?