NinjaTrader Review e Tutorial 2020

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Contents

NinjaTrader Review

Dan Schmidt
Contributor, Benzinga

1 Minute Review

NinjaTrader is a powerful derivatives trading platform specializing in futures, forex and options. The platform has a number of unique trading tools. A free version does exist without the extra goodies provided by Trader + and OrderFlow + but users can still break down charts, backtest strategies and trade without upfront payment. NinjaTrader hosts its own brokerage services but users have their choice of several different brokerage options. Accounts have minimums depending on the securities traded and commissions vary depending on the version of the platform. Advanced derivatives traders will have endless fun with the platform’s mighty array of tools and analyzers.

The free version, which is included with all brokerage accounts is a great starting platform for new traders without the financial commitment. As you grow in your trading and are ready for more tools and functionality, you can add more complexity.

Best For

  • Futures Traders
  • Traders looking for 24/7 action
  • Advanced Traders
  • Powerful analysis tools
  • Free download and simulated trading
  • Open source trading apps to enhance experience
  • Can only trade derivatives like futures and options

If you’re on the hunt for the best online brokerage, Ninja Trader is a great fit for both new investors and seasoned traders. Some of the key features in NinjaTrader’s futures brokerage service include:

  • Commissions as low as $.09 per Micro contract
  • Low $400 account minimum
  • Low day trading margins of $500 per contract for E-mini S&P 500 (ES), Nasdaq (NQ) and Dow Jones Industrial Average (YM) stock index futures contracts
  • $1,000 margins for Gold (GC) and Crude Oil (CL) futures contracts
  • Free version of NinjaTrader platform included with all brokerage accounts
  • Three platform license levels with varying feature sets and commission rates

In addition, the broker offers competitive spreads and a high-speed execution service for forex currency pairs.

Table of contents [ Hide ]

Who’s NinjaTrader For?

Futures Traders

NinjaTrader’s brokerage services cater directly to futures traders. It’s the ideal destination for those both active and new, with unlimited free use for advanced charting, market analysis, and simulation trading.

Advanced Traders

NinjaTrader’s state-of-the-art trading platform has a variety of features available across three license levels that allow traders to select the best fit for their trading approach. There are two upgrade feature sets available, Trader + and Order Flow +.

While advanced charting, market analysis, and simulated trading are included free for all users, licensing Trader + or Order Flow + gives you access to premium tools such as an enhanced SuperDOM, an advanced alerting system, semi-automated order execution, volumetric bars, and other sophisticated charting systems.

Active Traders

With commission among the lowest in the industry, traders can keep their costs low on a per contract basis. NinjaTrader’s low margins are also a great fit for active traders. With numerous technical analysis tools available, the trading platform can help users target opportunities and manage execution in volatile markets.

NinjaTrader’s Platform and Tools

NinjaTrader has their flagship advanced trading platform for Windows-based desktop computers. Other third-party platforms are supported and available by request. If you are a Mac user, you can run the software using a multi-boot utility like Apple Boot Camp.

NinjaTrader features a wide range of technical analysis functions that can be useful for those starting out with demo trading — especially if you want to learn how to trade futures .

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The broker uses CQG (Continuum) for order routing by default but also supports order execution through Rithmic. Kinetick is also available as a free end of day market data source for stock, futures and forex data optimized exclusively for use with NinjaTrader’s platform.

If you’re interested in trying out the NinjaTrader platform using futures data, you can register to get a free two-week trial.

A free version of the NinjaTrader platform is included with all funded brokerage accounts and has all the core features needed for live trading, with access to charts, market analysis, and simulated trading.

If you want to access some of its more advanced capabilities, you can either lease the software starting at a quarterly basis or purchase a Lifetime license, which includes free upgrades for life.

The advanced tool sets are where NinjaTrader really shines. For example, sophisticated order types known as automated trade management (ATM) strategies are included in the Trader + feature suite. These consist of a set of specific rules you create to manage a group of stop-loss and profit target orders to operate on all or part of an open position.

NinjaTrader’s third-party developer community, known as NinjaTrader Ecosystem, features thousands of third-party apps and add-ons you can use with its trading platform. From their website, you can use the keyword search and filters to scan hundreds of custom tools and trading indicators built to work with NinjaTrader.

If you have programming skills, you can build compatible software within its advanced C# based development environment.

NinjaTrader’s Research Tools

The NinjaTrader platform provides a high-performance backtesting engine which allows users to test and verify futures trading strategies using historical data. A wide range of useful educational materials are available if you’re unfamiliar with its platform and wat to enhance your skills.

These include daily training webinars designed to educate new users on the powerful tools available, hundreds of on-demand training videos, help guides, and an informative YouTube channel.

NinjaTrader’s Commission and Fees

Commission and margin requirements are among the lowest in the industry. A $1,000 minimum initial deposit is required to fund a new account and commissions go as low as $.09 per Micro contract with a Lifetime license. Day trading margins of $500 for ES, NQ and YM contracts, and $400 for GC and CL contracts are also very low.

When it comes to platform fees, the broker’s advanced platform and live data are available free of charge for use in a demo account. For live trading, you can use their free platform with all the basic essentials or choose a paid license level for more advanced features and lower commissions.

If you lease or buy a Lifetime license for the trading platform software, you also gain access to a suite of premium features that include its advanced trading management (ATM) strategic order handling. Traders who purchase a lifetime license also get the Order Flow feature set which comes with free platform upgrades for life.

NinjaTrader’s Security

NinjaTrader is well-regulated in the United States by the National Futures Association and the Commodity Futures Trading Commission (CFTC).

NinjaTrader’s Customer Support

NinjaTrader’s online support team excels in prompt replies with inquiries addressed within 15 minutes during market hours. An active user community interacts directly with the NinjaTrader support team in their User Forum. They also host daily live training webinars, have hundreds of on-demand training videos, and more.

NinjaTrader can be reached by email, phone, and an online support form for customer service. For critical trade issues, NinjaTrader provides direct phone support for brokerage clients. International traders are also directly supported with dedicated Spanish, Russian and German brokerage service teams.

NinjaTrader’s Tradable Asset Classes

NinjaTrader brokerage offers a basic range of asset classes with a focus on futures trading on the CME, CBOT, NYBOT and Eurex exchanges. You can trade the following asset classes via NinjaTrader:

*The platform can also be used through other supporting brokers such as TD Ameritrade or Interactive Brokers to trade stocks.

NinjaTrader’s Ease of Use

After downloading the NinjaTrader platform, it’s best to spend some time on the forum and watch the tutorial videos provided. It may take some time to set-up your ideal dashboard.

While NinjaTrader’s platform is exceptionally customizable and offers numerous advanced features , it may not be considered easy to use when you first download the platform.

Final Thoughts

NinjaTrader is one of the top brokers for futures and forex trading. The unlimited use of its free platform is a great way to get acclimated to NinjaTrader before deciding to trade live.

The free platform is sufficient for new traders with more advanced tools available as need such as semi-automated execution. NinjaTrader’s low commissions and fees, free tools, and an active community forum will work to any trader’s advantage.

NinjaTrader is known for having some of the lowest commissions in the industry. Perfect for beginners and advanced traders alike, they won the True Edge Futures Broker of the Year Gold Award in 2020. You can get access to a free two-week trial of their software when you register today.

NinjaTrader Review 2020

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&#127942 Top 5 Forex Brokers:

Summary

Recommended for traders with vast experience and focusing on futures

NinjaTrader is a US-based software company, which provides a great trading platform with advanced research tools. The company was founded in 2003.

Besides providing the software, NinjaTrader is a registered NFA (National Futures Association) company and an introducing broker of brokers, like Phillip Capital or Dorman Trading. The introducing broker status means that your assets and cash are held with the broker, like Phillip Capital, but the platform, the fees, and customer support are provided by NinjaTrader.

In our review, we tested NinjaTrader’s platform and brokerage services through an account opened with Phillip Capital. Phillip Capital is a global broker, regulated by the top-tier financial authorities, such as US CFTC or UK FCA.

You can also connect the following brokerage accounts to NinjaTrader platforms: Interactive Brokers, TD Ameritrade, Oanda, Forex.com, FXCM, and City Index. The advantage of connecting these accounts is that you can trade other popular asset classes, like stocks, on NinjaTrader’s great platform.

NinjaTrader pros and cons

NinjaTrader has low trading fees, for example, the futures fees are one of the lowest. The desktop platform and research tools are great and ideal for experienced traders. You can use quality educational material to get you started.

On the negative side, NinjaTrader’s withdrawal and inactivity fees are high. There is no mobile trading platform and the desktop platform is available only on Windows. The product portfolio covers only futures and options on futures unless you connect an external brokerage account, such as an account with Interactive Brokers.

Pros Cons
• Low trading fees • High withdrawal fee
• Great platform and research • No mobile app and desktop is only on Windows
• Quality educational materials • Only futures and options on futures
NinjaTrader main features and highlights
��️ Country of regulation US
�� Trading fees class Low
�� Inactivity fee charged Yes
�� Withdrawal fee amount $40
�� Minimum deposit $400
�� Time to open an account >3 days
�� Demo account provided Yes
��️ Products offered Options, Futures, Crypto

Gergely Korpos

Author of this review

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

NinjaTrader review
Fees

NinjaTrader has low futures and options on futures trading fees. Also, the fee structure is transparent. On the negative side, there is high withdrawal and inactivity fees.

Pros Cons
• Low trading fees • High non-trading fees
• Transparent fee structure
NinjaTrader fees snapshot
Assets Fee level Fee terms
US stock Available if you connect brokers, like TD Ameritrade
EURUSD Available if you connect brokers, like FXCM, Forex.com, or Oanda
Mutual fund Not available
Inactivity fee High $25 per month after one month of inactivity

How we ranked fees

We ranked NinjaTrader’s fee levels as low, average or high based on how they compare to those of all reviewed brokers.

To get things rolling, let’s go over some lingo related to broker fees. What you need to keep an eye on are trading fees, and non-trading fees.

  • Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
  • Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below, you will find the most relevant fees of NinjaTrader for each asset class. For example, in the case of stock investing the most important fees are commissions.

We also compared NinjaTrader’s fees with those of two similar brokers we selected, Interactive Brokers and Saxo Bank. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of NinjaTrader alternatives.

To have a clear overview of NinjaTrader, let’s start with the trading fees.

NinjaTrader trading fees

NinjaTrader trading fees are low.

NinjatTrader has three licenses you can choose from. In this review, we tested the ‘Free’ license. If you upgrade to Lease or Lifetime licenses, the trading fees are even lower.

Futures fees

NinjaTrader futures fees are low for US stock index futures and very low for other future products.

NinjaTrader stock index futures commission of 10 contracts*

NinjaTrader Interactive Brokers Saxo Bank
US stock index futures $11.9 $8.5 $40.0
UK stock index futures $11.9 $20.4 $36.0
German stock index futures $11.9 $22.0 $44.0

*We calculated the fees for the E-mini stock index futures

The commission charged by NinjaTrader is different among the licenses you choose. Besides, you have to calculate fees independent from NinjaTrader, like exchange or order routing fees.

NinjaTrader stock index futures fees per contract

Free license Lease license Lifetime license
E-mini stock index futures
Commission $1.19 $0.89 $0.59
Exchange & NFA fee $1.25 $1.25 $1.25
Order routing fee* $0.10 $0.10 $0.10
Micro stock index futures
Commission $0.29 $0.19 $0.09
Exchange & NFA fee $0.22 $0.22 $0.22
Order routing fee* $0.10 $0.10 $0.10

*The order routing fee is $0.10 for default as the connection is with Continuum at default. If you choose Rithmic connection, the order routing would be $0.25 per contract

Options on futures fees

Just like the future fees, NinjaTrader has low options on futures fees.

NinjaTrader stock index options on futures commission of 10 contracts

NinjaTrader Interactive Brokers Saxo Bank
US stock index futures $11.9 $8.5 $40.0

The commission, exchange, and order routing fees are the same as at futures.

NinjaTrader stock index options on futures fees per contract

Free license Lease license Lifetime license
Commission $1.19 $0.89 $0.59
Exchange & NFA fee $1.25 $1.25 $1.25
Order routing fee $0.10 $0.10 $0.10

Non-trading fees

NinjaTrader has high non-trading fees.

NinjaTrader non-trading fees

NinjaTrader Interactive Brokers Saxo Bank
Account fee No No No
Inactivity fee Yes Yes Yes
Deposit fee $0 $0 $0
Withdrawal fee $40 $0 $0

The account fee depends on the license you choose:

  • No account fee at ‘Free’ license
  • $720 annual/$425 semi-annual/$225 quarterly fees at ‘Lease’ license
  • For ‘Lifetime’ license, there is a $1,099 single payment/$329 monthly payments for 4 months. This license is good for the lifetime

There is a $25 monthly inactivity fee after one month of inactivity.

The withdrawals have also high fee: $/€ 40 for international wire transfers, while $30 for domestic wire transfers.

NinjaTrader review
Account opening

NinjaTrader’s account opening is fully digital and the minimum deposit is low, $400. On the other hand, the account verification can take long, even 4-5 business days, and the account opening process is a bit complicated.

Pros Cons
• Fully digital • Slow
• Low minimum deposit

Can you open an account?

What is the minimum deposit at NinjaTrader?

The required minimum deposit is $400 .

NinjaTrader Licenses

For using NinjaTrader, you have to choose one of their licenses. These licenses differ in commission, price, and functionality.

NinjaTrader licenses

$1,099 one-time fee

$329 monthly fee for 4 months

(Advanced charting, market analysis, simulated trading)

(stop-loss/take-profit orders, chart trading, advanced alert system, etc.)

(volume profile indicator, market depth map, cumulative delta, etc.)

Free Lease Lifetime/Own
Commission for e-mini index futures $1.19 $0.89 $0.59
Price $0 Yes Yes Yes
No No Yes
Besides NinjaTrader brokerage*, can you connect other brokers**? No Yes Yes

*With NinjaTrader brokerage, you can trade only futures and options on futures. If you choose NinjaTrader brokerage, your money will be held by either Phillip Capital or Dorman Trading, two US-based brokers.

** You can connect one or more of the following brokerage accounts: Interactive Brokers, TD Ameritrade, Oanda, Forex.com, FXCM, and City Index. In these cases, your money will be held by your existing broker and NinjaTrader will just provide the platform. The advantage of connecting these accounts is that you can also trade with other asset classes, like stocks, spot forex, CFD, etc.

In this review, we tested the Free license and NinjaTrader brokerage through Phillip Capital.

Account types

You can choose one of the following account types:

  • Individual – account is owned by one individual
  • Joint – account is owned by one or more individuals
  • Corporate/LLC/Trust/Partnership – account is owned by a legal entity
  • Retirement – tax-advantaged account, available only for US residents

How to open your account

The opening of a NinjaTrader account via PhilipCapital is fully digital and straightforward. However, the approval of the account is rather slow. It took 5 business days for us.

The account opening process is a bit complicated, there are a lot of steps to open your account with NinjaTrader:

  1. On NinjaTrader’s website, choose the asset you would like to trade: futures, options, forex.
  2. We selected futures. In this case, you can open the account at either Phillip Capital or Dorman Trading.
  3. We selected Philip Capital and were directed to Phillip Capital’s account opening process.
  4. Select the account type, like individual or corporate.
  5. Give your personal information, such as name, date of birth, or address. You have to answer a few questions about your financial and employment situation.
  6. You have to verify your identity and address. National ID, passport, and driver’s license are accepted for ID verification, while you can upload utility bill and bank statement as proof of address.
  7. Answer a few questions about the usage of your account, like you would like to use it for speculation or not.
  8. Accept customer and disclosure documents.

After we made the online registration, we also got an email from NinjaTrader to fill out an Options Request Form. We had to fill out which markets and what positions limits we would like to trade.

NinjaTrader review
Deposit and withdrawal

NinjaTrader’s deposit and withdrawal can be improved. You can use only bank transfer and check, and there is a high fee for bank withdrawals. As a plus, there is no deposit fee and the withdrawals are quick, took only one day for us.

Pros Cons
• No deposit fee • Credit/Debit card not available
• Quick withdrawal, less than 1 business day • High withdrawal fee

Account base currencies

At NinjaTrader, you can hold your cash in of these 3 account base currencies: USD, EUR, GBP .

Base currencies at NinjaTrader vs similar brokers

NinjaTrader Interactive Brokers Saxo Bank
Number of base currencies 3 19 19

Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don’t have to pay a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. Revolut or Transferwise both offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Deposit fees and options

NinjaTrader doesn’t charge any deposit fee. However, your intermediary bank might charge if you are sending an international bank transfer.

US residents can also use checks for depositing.

NinjaTrader deposit options

NinjaTrader Interactive Brokers Saxo Bank
Bank transfer Yes Yes Yes
Credit/Debit card No No Yes
Electronic wallets No No No

A bank transfer can take several business days.

You can only deposit money from accounts that are in your name.

NinjaTrader withdrawal fees and options

NinjaTrader has high withdrawal fees. The bank withdrawals costs $30, and an international bank transfer costs $/€ 40.

US residents can also withdraw by using check. It’s free at Dorman Trading but has a $4 fee for Phillip Capital.

NinjaTrader withdrawal fees and options

NinjaTrader Interactive Brokers Saxo Bank
Bank Transfer Yes Yes Yes
Credit/Debit card No No No
Electronic wallets No No No
Withdrawal fee $40 $0 $0

How long does it take to withdraw money from NinjaTrader? We tested the international bank transfer and it took 1 day.

How do you withdraw money from NinjaTrader?

It was not a piece of cake finding how we could initiate the withdrawal.

  1. First, you have to open the online withdrawal form. You can find it if you click on FAQ and select the ‘How do I withdraw funds?’ category.
  2. After, select the withdrawal method: check or wire.
  3. Fill out the form. You have to add information, like your name, account number, and the amount you wish to withdraw. For wire transfer, you have to add also the wire information, such as SWIFT code or Bank’s name.
  4. Submit the request. After, NinjaTrader will send you an email confirming that they initiated the withdrawal.

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NinjaTrader review
Web trading platform

At the time of the review, NinjaTrader provided only a desktop platform. The only way to use a web trading platform along with NinjaTrader’s desktop trading platform is if you connect an external brokerage account, such as brokerage account with Interactive Brokers or Oanda.

NinjaTrader platforms to choose from
Trading platform Score Available
Web No
Mobile No
Desktop 4.8 / 5 stars Yes

NinjaTrader review
Mobile trading platform

At the time of the review, NinjaTrader provided only a desktop platform. We think that a mobile trading platform is a big miss as traders can’t follow their positions on the go. Similarly to the web platform, the only way to use a mobile trading platform along with NinjaTrader is to connect an external brokerage account, such as a brokerage account with Interactive Brokers or Oanda.

NinjaTrader review
Desktop trading platform

NinjaTrader’s desktop platform is great for advanced traders. It’s highly customizable with many advanced features. The platform is well organized but might feel complicated at first. Also, it lacks a two-step login.

Pros Cons
• Clear fee report • No two-step (safer) login
• Good customizability (for charts, workspace) • Available only on Windows
• Good variety of order types
• Many great tools for technical analysis

NinjaTrader is specialized in providing a trading platform for advanced traders.

While NinjaTrader version 7 is still available, we tested NinjaTrader 8. NinjaTrader 8 incorporates over 500 changes and enhancements, largely collected from client feedback. The desktop trading platform is available in English, Spanish, Russian, German, Portuguese.

Look and feel

The NinjaTrader desktop trading platform might feel complex for beginners, but for advanced users, this is where NinjaTrader really shines. Day-traders who like to trade from the chart will especially like NinjaTrader.

The desktop platform is highly customizable and there are there are thousands of apps and add-ons in the NinjaTrader Ecosystem to personalize your platform. How is that possible? NinjaTrader offers a standards-based (.NET) programming environment for indicators and strategies that created a vibrant developer community.

The functionality of the platform differs based on the License you choose:

  • Free license: you can use only the core functions, like advanced charting, market analysis, or simulated trading.
  • Lease license: you can also setup automated trading, backtesting, automatic protective stop loss and profit target orders (ATM Strategies) among many other features.
  • Lifetime/Own license: you can use Order Flow+ features. It can help you with identify buying and selling pressure to confirm market movement in a specific direction as the trading action unfolds through visualization of the order flow.

Login and security

NinjaTrader provides only a one-step login. A two-step login would be more secure.

At the first time when you want to use your account, you have to set your license key and the credential for the connection:

  • You can set the license key if you click on ‘Help’ and ‘License Key’.
  • You can set the credentials if you click on ‘Connections’ and select ‘Configure’.

Next times, you can simply log in if you click on the connection you set up, such as ‘My NinjaTrader Continuum’. After it’s activated (becomes green), you’ll see your positions and can start trading.

Search functions

The search functions work well. There are multiple ways to find an asset to trade.

Maybe the easiest if you click on ‘Tools’ and then go to ‘Instrument Lists’. Here, you can compile your own instrument lists or edit the pre-defined lists, like Futures or Forex. When you add a new asset to your list, you can search by typing its name or search through categories.

Placing orders

NinjaTrader has many order types, including more sophisticated ones, like OCO:

  • Market
  • Limit
  • Stop limit
  • Stop-loss
  • Market if Touched (MIT)
  • One-Cancel-Other (OCO)

If you are not familiar with the basic order types, read this overview.

There are also order time limits you can use: Good ‘til Canceled (GTC), Good-Til-Date (GTD), Day.

Alerts and notifications

You can set alerts and notifications on the desktop trading platform. Advanced alerting system is only available in the paid version.

Some example of the available alerts:

  • Simple Moving Average Crossover: triggers when the current market price crosses above a 20-period Simple Moving Average.
  • New Intraday High
  • Price and Fibonacci Retracements

Portfolio and fee reports

NinjaTrader has clear portfolio and fee reports. Using the ‘Trade Performance’ window, you can see your net profit or the commissions you paid. We also liked that the platform will calculate Sharpe ratio, Sortino ratio and the Ulcer index among many others.

NinjaTrader Review and Tutorial 2020

Go to the Brokers List for alternatives

NinjaTrader Facts & Figures

NinjaTrader offer Traders Futures and Forex trading. Use Auto-trade algorithmic strategies and configure your own trading platform, and trade at the lowest costs.

Instruments CFD, Forex, Futures, E-minis
Demo Account Yes
Min. Deposit $50
Min. Trade Varies by asset
Regulated By NFA, CFTC
MT4 Integration Yes
MT5 Integration
Mobile Apps
Auto Trading Yes. NinjaTrader is a dedicated platform for Automation.
Trade Signals Yes
Islamic Account No
CFD
FTSE Spread
GBPUSD Spread
Oil Spread
Stocks Spread
Forex
GBPUSD Spread 1.6 pips
EURUSD Spread 1.3 pips
EURGBP Spread 1.6 pips
Assets 50+

NinjaTrader’s award-winning online trading platform aims to directly support day traders interested in the futures, forex, CFDs and stock markets. This page will guide you through the NinjaTrader 8 platform, covering features, indicators, charts, demo accounts, plus compatibility with top brokers including NinjaTrader Brokerage.

Brief History

Since getting started in 2004, the privately held company headquartered in Denver, Colorado and Chicago, Illinois, has attracted over 60,000 users and 450+ developers. They offer a sophisticated trading platform with multiple charts and a range of features plus market data services. Thousands of apps of 3rd party apps, as well as add-ons, allow for ample customisation, fast order execution, and advanced market analysis.

In addition, NinjaTrader provides brokerage services to support both forex and futures traders with discount pricing.

Key Details

So we know NinjaTrader can be used in a number of markets, but what are the key details to be aware of before you download the latest version?

Firstly, there are no fees for using NinjaTrader’s standard features. This ensures free access to the following:

  • Trade simulation
  • Market analytics
  • Advanced charting
  • Backtesting & optimisation
  • Automated strategy development

NinjaTrader is an open source system, much like the MetaTrader 4 (MT4) platform. The difference is that whilst MT4 attracts mainly forex day traders, NinjaTrader is also popular amongst futures day traders.

You can run NinjaTrader on Mac OS, Windows, and Linux if you port it over.

NinjaTrader 8

The platform is regularly updated, the latest version in NinjaTrader 8. This delivered over 500 enhancements, including charting changes (more configurability), improvements to the alerting, an enhanced platform, plus data and performance upgrades. The developers will not stop there though, and more user-led improvements are planned.

Why NinjaTrader?

A quick look at trading blogs and forums and you will see plenty of people want to know how NinjaTrader measures up vs MT4, MT5, TradeStation, and MultiCharts. So, with so many options available, what separates NinjaTrader 8 from the rest?

  • Customisability – Their straightforward platform has been designed for traders who want to customise their platform and technical indicators. You will find floating windows and indicators that are simply not available on other platforms.
  • Set up – They have carefully engineered their platform to allow for a quick and hassle-free setup. In less than ten minutes you can have downloaded NinjaTrader 7 or 8 and be up and running.
  • Scripts – Experienced day traders often like having access to plenty of scripts. NinjaTrader 7 was fantastic for this and NinjaTrader 8 has programmers porting over scripts to their new updated version.
  • Free simulation – This free trial uses either random data or live data updated once per day. Once you have honed an effective strategy you can then upgrade to live trading with real capital.
  • Stop-loss capabilities – NinjaTrader has an intelligent system that allows you to build your strategy so both stop-losses and target orders are sent out as soon as you enter a trade. This means if you lose your internet connection, or you are disconnected from your broker, your stop-losses and target orders could prevent a costly disaster.

Drawbacks

Despite the number of NinjaTrader benefits, there are certain drawbacks and risks to be aware of. These include:

  • Market Analyser Speed – Some reviews highlight concerns over the speed of the Market Analyser when running scans if you are using over 100 symbols.
  • Apps – Those hoping for a native NinjaTrader mobile app for their Android or Apple devices will be left disappointed. Access to CQG Mobile is available for those using NinjaTrader Brokerage. In addition, there have been discussions about a native mobile app so iOS and Android users may soon be in luck.
  • Difficult to learn – This was particularly true for the NinjaTrader 7 version. However, to a certain extent this has been remedied with their latest offering, NinjaTrader 8. You can also now find a range of online video tutorials, guides, and websites that will assist you along with free daily webinars hosted by their support team.
  • Narrow focus – Today’s day traders are increasingly interested in bitcoin and cryptocurrency markets. NinjaTrader does provides charting and analysis capabilities with Coinbase data integrated directly to the platform but order execution is not currently available. For live trading, NinjaTrader is currently best at serving those trading trade futures, forex, stocks and CFDs.

NinjaTrader Tools & Features

One of the first questions many prospective day traders will have is regarding the trading tools and features on offer. Fortunately, p latform and brokerage reviews report high levels of satisfaction with both.

Charting

In terms of charting capabilities, NinjaTrader scores highly. Their comprehensive tools will compliment your trading ideas with user-friendly and highly customisable systems.

  • Clear and powerful market visualisation
  • Multi-time frame plus multi-instrument analysis
  • In excess of 100 pre-built customised indicators, as well as hundreds of optional third-party indicator add-ons.

You can expect access to the following:

  • Gap indicators
  • News indicators
  • Trend indicators
  • Swing indicators
  • Volume oscillators
  • Reversal indicators
  • Volatility indicators
  • Value area indicators
  • Divergence indicators
  • Elliott wave indicators
  • Average daily range indicators

Trade Management

NinjaTrader’s SuperDOM order entry and trade management system allows for enhanced customisability. You will benefit from the following:

  • Straightforward trade visualisation
  • Single click order entry, modification, plus cancellation
  • It can also be used with the Advanced Trade Management (ATM) module

Advanced Trade Management

The NinjaTrader ATM module is a strong selling point. Their sophisticated technology enables you to pre-define personal trade management strategies. These include:

  • Numerous profit targets and stop-loss orders
  • One-cancels-other (OCO) orders
  • Auto-breakeven stops
  • Trailing losses

This could help you yield greater profits as it automatically submits entry/exit orders within milliseconds. Not to mention, it may reduce the time and stress of manually managing multiple exit orders in volatile markets.

Automation

Day trading volume is increasingly being represented by machine learning algorithms. This is because i f you have developed a consistently effective strategy, then automating it may increase your takings.

Once you have programmed in your criteria, an algorithm/bot will enter and exit trades as soon as your criteria have been met. This could allow you to make far more trades than you ever could manually.

NinjaTrader allows you to automate your trading strategy if it was developed using NinjaScript or if it were in an outside application.

You have the ability to:

  • Develop and buy automated strategies
  • Analyse and execute automated strategies
  • Process trading signals from outside applications
  • Either create or purchase third-party custom chart indicators

Market Replay

NinjaTrader offers an extremely useful market replay function. It downloads historical data so you can rewind to a specific day and practice trading in that market as if it were live. This is brilliant for developing a strategy, or getting to grips with Fibonacci levels, for example.

Other Analytical Tools

The NinjaTrader offering also extends to trade performance tools, plus market and strategy analysers. All of which could help enhance your day trading performance.

In addition, minimum system and hardware requirements for NinjaTrader are industry standard, so most people should be able to download full versions of 7 and 8. Programming and coding manuals can then be found in their video library.

Overall, in terms of trading tools and features, you get a range of customisable charts and trade simulation programmes. You also have extensive data feeds, indicator lists, intelligent programming capabilities, plus a reliable support forum.

The key to making the most of their services is spending some time exploring their video library and educational services once you’ve logged in.

NinjaTrader Education

Getting to grips with a new platform can prove challenging. Fortunately, NinjaTrader provides an array of education and support to enhance your use of their trading software. They provide daily webinars, training videos, help guides, plus there is an active user community you can turn to.

The above methods should be able to help you with:

  • Price quotes
  • Stock scanners
  • Different plugins
  • Data subscriptions
  • Order types and quantity
  • Strategy templates & tutorials
  • Brokerage withdrawals and funding
  • Output windows and stop limit orders

However, if you still have unanswered questions, y ou can contact NinjaTrader via email or their support forum. They have a help desk team that’s 20-strong, formed of NinjaTrader specialists to ensure you get the most out of their platform.

How To…

Many of the educational materials available revolve around frequently asked questions from traders. The majority are “How to’s”, for example:

  • How to place a stop loss
  • How to delete strategies
  • How to trade futures
  • How to use Ninjatrader 9

These queries are often answered directly via webinar, or video tutorials. The videos last around 2 or 3 minutes and cover very specific topic such as charts, or getting connected to the platform. The Youtube channel also hosts videos, but these are particularly short.

Webinars last much longer and traders need to sign up, but these get into much more detail and offer more depth.

Demo Account

The NinjaTrader demo account is a fantastic opportunity for beginners to get familiar with both markets and the trading platform. Plus, downloading their demo account software is straightforward.

Simply head over to their website and click on Trade Futures or Trade FX. Then scroll down and enter your information for a demo account. All you will need is an email address and to fill in your location. You will then be emailed your login details and the steps to download their platform if you haven’t already done so.

Overall, trade simulator reviews speak highly of this service and it isn’t hard to see why. Aspiring scalpers can hone their craft on Heiken-Ashi charts, whilst having access to playback functions, market and volume profiles, and more.

Then once you have built up your confidence, you can open a live trading account, funded with real capital.

Once you sign up and log in with a demo account, you will also be sent information from the NinjaTrader brokerage. This will detail exchange fees and other costs associated with their broker’s services.

The key costs are as follows:

  • The minimum deposit for a futures trading account is $1,000.
  • The minimum deposit for a forex trading account is $50.
  • Day trading margins for popular futures such as the S&P 500 emini are $500.
  • Both Mini Dax and FTSE 100 futures have margins of $1000.
  • You will find commissions start at around $0.53 per contract. However, this will depend on whether you buy the NinjaTrader platform, or whether you lease it, or use the free version.
  • A lifetime license for NinjaTrader will cost you $1099. Alternatively, you can pay four monthly payments of $329. It will cost $720 per year, $425 for six months, and $225 quarterly if you choose to lease.

A lifetime license for NinjaTrader will cost you $999. Alternatively, you can pay four monthly payments of $299. It will cost $600 per year, $330 for six months, and $180 quarterly if you choose to lease.

Also, it’s worth noting if you opt for using the free version of NinjaTrader, commissions may be slightly higher.

NinjaTrader 7 vs NinjaTrader 8

The NinjaTrader 8 release was highly anticipated. The 8 system requirements remain similar to that for the 7, so if you have one you should be able to migrate to the other without too much hassle. You can use the 8 on Mac or Windows.

The 8’s major enhancements out of the 500 changes include:

  • Increased speed
  • Historical bid-ask data
  • Substantial charting improvements
  • Sub-second market data time stamps
  • The ability to add custom columns and indicators to SuperDOM

8 reviews show customers are content with many of the changes, however, if you don’t want to download the latest version, the full 7 version should do the job just fine. In fact, many traders point out much of your knowledge and experience on NinjaTrader 7 will be directly applicable in the 8 download.

NinjaTrader 8 tutorials, strategy builders, and backtesting guidance can all be found by heading to their trading forum or library of training videos.

Also, it is worth noting that, unfortunately, there are zero NT 8 mobile capabilities.

Brokerage Compatibility

NinjaTrader exists as a broker independent trading platform. However, there are a number of supported brokers from the UK and elsewhere. In effect, NinjaTrader holds a multi-broker license. This gives you, the trader, the choice on where you execute your trades.

However, there is some risk of communication delays between some platforms. So, if you want a smooth transition from platform to broker, you may want to select one of the brokers currently available through the NinjaTrader Brokerage. They also support the majority of leading independent market data service providers, such as Kinetick.

Overall you have a generous choice of forex brokerages and futures brokers where you can use your NinjaTrader software. In fact, you can choose from a number of internationally supported broker technologies, including:

NinjaTrader further supports a number of additional market data vendors, including:

  • eSignal
  • TradeStation
  • Yahoo Finance
  • Metastock Import
  • IQFeed from Telvent DTN
  • Text file based historical data import

See their brokerage website for a full instrument list, including equities, forex, and futures.

NinjaTrader Customer Service

In the day trading game, every second costs money. So, you don’t want to be sat around for hours waiting for NinjaTrader to fix a technical glitch or account problem. Fortunately, they offer 24/5 technical support, plus 24/7 emergency trade support in a number of languages, so no matter your time zone, someone will be around.

You can expect to receive help with the following:

  • Setting up alerts
  • Getting your account balance
  • Ensuring you understand prices
  • How to place stop losses and get currency prices
  • Initial margin requirements and daily loss limits
  • Directions to their strategy builder and examples
  • Finding tick charts and automated trading strategies
  • Information on holiday hours and important calendar dates
  • Understanding license and leverage conditions, including intraday margin requirements and inactivity fees

Whilst you can get technical and brokerage support in the hours you need them, NinjaTrader does lack a live chat service function, which could increase remedial speed. Overall though, emails are answered promptly and their support is fairly industry standard.

For the emergency trade phone number where you are located, see their website.

Issues with connecting, or the system not starting can often be traced initially on the Support forum, which is a great resource. Any downtime (scheduled or otherwise) will be reported there first.

Final Word

If you are looking for powerful software and market data, NinjaTrader could well be worth exploring. Having said that, the program may take several weeks to get familiar with, particularly for beginners. Although they lack a native iPhone or iPad app, or Android equivalent, if using NinjaTrader brokerage you can access your account on the go using CQG Desktop.

Overall though, you get an active trading community, a range of educational resources and a high level of customisability. All of which may enhance your trading performance and bolster those all-important intraday profits If choosing NinjaTrader Brokerage, low margins and commissions can come in handy as well to keep costs low.

Accepted Countries

NinjaTrader only accepts traders from United States, Netherlands, New Zealand, Norway, Nigeria, Poland, Portugal, Russian Federation, Saudi Arabia, Singapore, Spain, Sweden, Tokelau, Australia, Austria, Bulgaria, Belgium, Brazil, United Kingdom, Cyprus, Czech Republic, Denmark, Finland, Egypt, France, Switzerland, Germany, Hong Kong, India, Japan, Argentina, Chile, Mexico, Bolivia, Colombia.

How much does NinjaTrader cost? Is it free to use?

NinjaTrader is free. There are no platform fees and the system is free across all brokerage accounts. Core Essentials for charting, strategy and trade simulation.

Trader + and Order Flow + and paid services that traders can upgrade to, but the core essentials are free for the lifetime of the account.

How to use NinjaTrader

NinjaTrader offer a huge range of help guides, video tutorials and webinars, both for beginners, and also for advanced traders looking to get the most out of the system. There is also well informed customer support team, and lively user support forum.

Any gaps in knowledge can be rectified using any or all of the above educational tools.

Can you use NinjaTrader on a Mac?

At present, NinjaTrader is a windows based platform which relies on the .NET framework. That framework does not work on Macs. There are methods using Parallels or VMWare to get Ninjatrader working on Macs, but the these are not officially supported.

NinjaTrader are monitoring demand for a Mac version of the platform, and one may be developed, but as yet, there are no plans to do so.

Does NinjaTrader work with MT4

No. NinjaTrader has no integration with MetaTrader 4 (MT4).

Is NinjaTrader a safe, ‘legit’ service?

Yes. NinjaTrader are NFA Registered (#0339976) and boast more than 60,000 clients. Customer satisfaction can be judged from the feedback and comment on the User Support Forum.

Is there a NinjaTrader App?

No. The platform runs on the Windows operating system, utilising the .NET framework. Adapting this setup for mobile devices running iOS or android is not currently on the Ninjatrader development path.

Which brokers support NinjaTrader?

The most popular brokers supporting NinjaTrader currently include:

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