NinjaTrader Logo

SIPC:

 

Dependent on the broker used

FDIC insured:

 

Dependent on the broker used

AUM:

 

Undisclosed

Regulated by:

 

NFA, CFTC

Editorial Rating

NinjaTrader Logo

Editorial Rating

NinjaTrader Review

Advertiser disclosure This page may contain links to our partners’ products and services, which allows us to keep our website sustainable. This means that spendmenot.com may receive a compensation when you sign up and / or purchase a product or a service using our links. However, all opinions expressed in this article are solely ours, and this content is in no way provided or influenced by any of our partners.

SIPC:

 

Dependent on the broker used

FDIC insured:

 

Dependent on the broker used

AUM:

 

Undisclosed

Regulated by:

 

NFA, CFTC

Minimum deposit:

 

$400

Account types:

 

Individual, Joint, Corporate, LLC, Partnership, Trust, and Retirement

Mobile app:

 

No

Support:

 

Phone, email, live chat

NinjaTrader Logo

Editorial Rating

NinjaTrader is an advanced trading platform that specializes in forex, futures, and options trading. The company partners with several brokerages, and it’s a popular choice among active traders.

Check out our NinjaTrader review to learn how to use this platform and what to expect from its numerous features!

What Is NinjaTrader?

Launched in 2003, NinjaTrader is a software development company based in the US. It’s best-known for its trading platform, which is used by millions to trade in forex, futures, and options.

But NinjaTrader doesn’t operate as a regular broker. Instead, it’s an ‘introducing broker’. This means you can use the NinjaTrader platform when you open a brokerage account with specified brokers, such as Phillip Capital or Dorman Trading.

In addition, NinjaTrader can be linked to other online brokerage accounts, including Oanda, Interactive Brokers, FXCM, TD Ameritrade, City Index, and Forex.com. By integrating these accounts with NinjaTrader, you can access a broader range of trading options and markets.

How to Use NinjaTrader

To start using NinjaTrader, you’ll need to register on the platform and create an account with one of the specified brokers. Once you’ve done this, you’ll be able to fund your account and begin trading.

What are the account requirements?

To open an account with NinjaTrader, you’ll need to visit the website and choose an asset type to trade. You also need to decide what kind of license you want to purchase.

Depending on whether you select futures, options, or forex, you’ll be given a range of brokerage firms to choose from. We recommend reading NinjaTrader brokerage reviews to pick the best one.

Opening an account with a brokerage firm is relatively straightforward. You’ll need to submit some personal details, including your name, address, contact, and employment status information. You will then have to verify your identity, usually by uploading a scanned copy of a government-issued ID, such as a passport. You may also need to answer a few questions about how you intend to use the NinjaTrader software.

Once you’ve submitted the relevant information and the brokerage firm verifies your identity, your account will be up and running. You can then expect to receive an email from NinjaTrader with a trading request form. This typically confirms your personal information and tradable assets of choice. Upon completing and submitting this form, your NinjaTrader account will also be opened.

How to start trading

Before you deposit, you may want to try the NinjaTrader free trading simulator. This feature allows you to practice your trades risk-free and get familiar with the platform’s functionalities.

And when you’re ready for a real-money experience, you can fund your account via bank transfer or check. Note that the NinjaTrader minimum deposit is $400.

Then the trading process is pretty standard — you access the platform, select an asset and place an order. Notably, day trading is also accessible through NinjaTrader.

We’ll tell you more about the different tools you can leverage later in this NinjaTrader review.

What can you trade?

You can trade options, futures, and forex using the NinjaTrader platform, providing you have an account with one of their specified brokerage firms. However, if you link NinjaTrader to other accounts, such as Forex.com or City Index, you may be able to trade different assets.

What tools are available?

As well as providing a useful NinjaTrader paper trading platform, NinjaTrader offers a variety of tools to assist users. This includes:

  • 125 technical indicators
  • Thousands of indicators available via the developer community
  • NinjaTrader Ecosystem
  • Advanced charting
  • Custom notifications and orders
  • Option Chain to quickly manage expirations
  • Hot Lists
  • Level II
  • News
  • Time & Sales analysis

When using NinjaTrader, you can also access an advanced backtesting tool. This allows you to test futures trading strategies using actual historical data. In addition to developing your NinjaTrader strategy with backtesting, NinjaTrader provides access to various educational content, such as YouTube videos, webinars, and help guides.

How does the platform work?

By default, NinjaTrader uses CQG (Continuum) to facilitate order routing. However, order execution is also supported by Rithmic. In addition, users can access Kinetick as a free market data source. The content available via Kinetick is optimized for NinjaTrader users and features information relating to forex, futures, and different types of stocks.

Is there a client portal?

Upon logging into your NinjaTrader broker account, you’ll be able to access trading platforms, manage your account, and contact support if you need to. Additionally, the third-party development community, NinjaTrader Ecosystem, is also available to clients.

NinjaTrader Fees

Most people look for NinjaTrader reviews because they want to know more about the fees!

Ultimately, the fees you’ll pay to NinjaTrader depend on the type of license you choose. Three types of licenses are currently available:

  • Free – no account fee
  • Lease – NinjaTrader fees

Note that the NinjaTrader cost for order routing can vary, depending on which connection is used.

And here’s a list of the non-trading fees:

Inactivity Fee $25 monthly if no round trades are made
Withdrawal Fees $40 for international transfers, $30 for domestic transfers
Deposit Fees $0
Account Fee Dependent on the type of license

NinjaTrader Mobile App

NinjaTrader does not currently offer a mobile app. However, they have stated that there could be one coming in the near future.

Ninjatrader Customer Service

As most NinjaTrader reviews will agree, the customer service offered is of a high level. The platform provides 24/7 emergency trade support as well as 24/5 technical assistance. You can contact the Support team via phone, email, and live chat. There is also a Support Forum where you can seek input from other users.

NinjaTrader Alternatives

There are many alternatives to NinjaTrader, so let’s take a look at three of its main competitors:

TradeStation vs NinjaTrader

Although TradeStation offers a broader range of markets than NinjaTrader, it doesn’t facilitate Forex trading. In addition, NinjaTracker’s customer service typically rates higher than TradeStation’s, which might persuade some users to switch to the NinjaTrader platform.

It’s also worth mentioning that both platforms feature a wide range of trading tools, and their fees are rated similarly. Yet TradeStation’s mobile app could be a big draw for users who want to trade on the go. You can read this TradeStation review for more information.

NinjaTrader vs thinkorswim

Owned by TD Ameritrade, thinkorswim is an online trading platform that offers a variety of markets and accounts, including margin trading and managed portfolios. However, it’s a fairly intricate platform that is best suited to experienced traders. Commission-free trades are available on stocks on thinkorswim, including the best-performing stocks. Yet you’ll need to pay $2.25 per contract plus exchange and regulatory fees on futures.

NinjaTrader vs MetaTrader

MetaTrader, particularly MT4, is one of the most used trading platforms. But how does it stack up to NinjaTrader?

Brokers using MT4 or MT5 typically charge higher trading fees due to the costs associated with the platform. Despite this, the vast range of automated trading options makes it a popular choice among users. Similarly, many online brokers using the MT4 platform also offer a mobile app, which NinjaTrader lacks.

NinjaTrader vs Interactive Brokers

Also based in the US, Interactive Brokers is a highly rated platform that offers low fees. It provides a wider range of markets than NinjaTrader, which will appeal to users who want to trade in numerous assets. However, withdrawals typically take longer via Interactive Brokers than they do with NinjaTraders. Check out our Interactive Brokers review to find out more about this platform.

Wrap Up

We hope that you have found this NinjaTrader review helpful. As you can see, there are many benefits associated with this platform.

While you may need to integrate a separate broker account to trade in more assets, this shouldn’t be a drawback. NinjaTrader partners with a range of brokerages and offers the option to upgrade to a Lease or Lifetime license. This, combined with relatively low fees, outstanding customer service, and a backtesting tool, makes the platform an excellent choice for both new and experienced traders.

Pros

  • Intuitive platform
  • Low to average trading fees
  • Free account option
  • Great range of analysis tools

Cons

  • Limited trading options
  • It can take 4-5 days to open an account
  • High withdrawal fee
NinjaTrader Logo

Editorial Rating

FAQ

Is NinjaTrader free?

NinjaTrader offers three types of licenses: Free, Lease, and Lifetime. Although you won’t have to pay an account fee when you use a Free license, you may still be liable to pay inactivity fees, withdrawal fees, and commission on trades.

Is NinjaTrader safe?

Based in the US, NinjaTrader is considered to be safe. As an introducing broker, funds are held by regulated brokerage firms rather than NinjaTrader itself.

Is NinjaTrader legit?

Yes. NinjaTrader was founded in 2003 and has maintained a great track record since.

How good is NinjaTrader?

Although NinjaTrader doesn’t offer the widest variety of assets and markets, it’s very good at what it does. The relatively low fees, useful tools, and intuitive platform make NinjaTrader one of the best trading venues out there.

Can you trade stocks on NinjaTrader?

You can only trade stocks on NinjaTrader if you integrate a separate account with the platform.

Can you day trade on NinjaTrader?

Yes, it is possible for you to day trade on NinjaTrader.

Can you trade forex on NinjaTrader?

Yes. If you’re looking to trade forex, you can do so on NinjaTrader. As discussed in our NinjaTrader review, this is one of the main markets available through the platform.