Because photometric surveys of exoplanet transits are very promising sources of future discoveries, many algorithms are being developed to detect transit signals in stellar light curves. This paper compares such algorithms for the next generation of space-based transit detection surveys like CoRoT, Kepler, and Eddington, Five independent analyses of a thousand synthetic light curves are presented. The light curves were produced with an end-to-end instrument simulator and include stellar microvariability and a varied sample of stellar and planetary transits diluted within a much larger set of light curves. The results show that different algorithms perform quite differently, with varying degrees of success in detecting real transits and avoi...