Matlab alternatives: The reviews of Octave vs Scilab

(Last Updated On: May 10, 2010)

Matlab alter naives: The reviews of Octave vs Scilab
Ok. I am not a student nor can if really afford a $1000 license for Matlab. As I am reading Ernest Chan’s killer book, “Quantative Trading: How to Build Your Algorithmic Trading Business|”, I started to realize the importance of some software tool like Matlab for back testing. I have always known about the Matlab alternatives like Scilab and Octave.

Here is what I have dug up so far.
1. Both are free. Yeah for that so they seem to be pretty good alternatives and are GNU based especially Octave.
2. This brings me to the debate which is better or better, when do you use one over the other?

From my Google online research, it seems Octave is more of a command line based tool. It seems to have no Graphic User Interface so it becomes command line only. It also seems that Octave is much closer to Matlab in terms of compatibility. Students are reporting that when they do their projects Octave, they are reported to be pretty compatible with Matlab. Even Matlab programs (.m) file are running in Octave and vice versa. This leads me to think this is the way to run something like Ernest Chan’s Matlab program files.
I get a little confused on if Scilab could be more compatible with Matlab. This one has an integrated developer environment meaning it is possible more complex than Octave. It also has been reported that there is more of a learning curve with Scilab versus Octave.

As you know, the only way to determine which is better is by giving them a run trough. Although, both Scilab and Octave seem more than productive, I shall give my own personal view point to see which one runs better. So be on the lookout for a future review of both and if there is any compatibility issues with Ernest Chan’s Matlab program files.

NOTE I now post my TRADING ALERTS into my personal FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!
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