NinjaTrader

NinjaTrader offers software and brokerage services for traders, and has become especially popular among daytraders who are into forex, stocks, and futures. Contracts for Difference (CFD:s) are available. As a brokerage, NinjaTrader focuses on futures and forex, but has partnered with several other brokers (including TD Ameritrade and Interactive Brokers) to give trader access to other markets, such as equities, options on futures, and contracts for difference (CFD).

In addition to trading, the NinjaTrader platform can be used for charting, market analysis, and more. Data service is available. The platform supports thousands of third-party apps, add-ons, and similar. This allows for a high degree of customisability, e.g. to achieve even faster order executions and more in-depth and complex market analysis.

NinjaTrader is popular among very active traders, particularly those involved in technical analysis. The platform comes with excellent charting abilities, customisability for the technical indicators, and a chart-based order entry tool called Chart Trader.

The privately held company behind NinjaTrader was started in the early 2000s. Its main offices are in Denver, Colorado and Chicago, Illinois.

At the time of writing, the most recent version of the NinjaTrader is NinjaTrader 8. NinjaTrader8 was fitted with a variety of improvements, including data and general performance upgrades. It offers better configuration abilities for charts and better alters.

Basic version or premium version

In order to access the platform’s premium features, such as automated trading, back-testing and advanced order types, you need to lease or buy the software. At the time of writing, buying costs 1,099 USD while leasing is available from 60 USD/month, but always double-check these number directly with NinjaTrader before you make any decision as they can have changed since this article was last revised.

A lifetime license is required to access the Order Flow+ suit, which is a powerful analysing software that can be used to analyse trade activities based on parameters such as order flow, volume bars, and market depth.

Downsides

• You have to pay to get access to the premium features.
• It can feel a bit complicated with the set-up where NinjaTrader (in the role of broker) offers trading on certain market and the other supporting brokers are needed for other markets.
• If NinjaTrader is your broker, you can use the CQG mobile app for trading. It is available for iOS and Android. This app does not use the NinjaTrader platform. Also, it is not available unless you have NinjaTrader as your broker. NinjaTrader has indicated that they have plans to create and launch a NinjaTrader platform app in the future.

Using the NinjaTrader platform

The platform is well designed and easy to navigate. You can customize it in many different ways, and that is true for the charts as well.

All the normal order types are supported, including market, limit, stop market, and stop-limit orders. You can also use more advanced OCO (one cancels other) orders.

Data providers

The primary data provider for NinjaTrader is CQG Continuum (for live brokerage accounts), but Rithmic is supported as well.

For full market depth, you need to pay a monthly fee. Top of book data is available for a reduced fee.

Data fees will vary depending on several factors, so make sure you read the fine print.

At the time of writing, full market depth data on CME costs 7 USD per month. The CME bundle (CME, CBOT, NYMEX, COMEX) costs 21 USD.

Customer service

The NinjaTrader customer support is only open on weekdays, not on weekends. During weekdays, it is open around the clock.

Phone number: 1-800-496-1683

Live chat: Visit https://ninjatrader.com/ContactUs

Email: platformsupport@ninjatrader.com

There is also a support forum on the Ninja Trader site.

Can I open a free NinjaTrader Demo Account?

Yes, you can open a NinjaTrader Demo Account without making any deposit. It is a great way to get to know this platform without risking any real money. You will need to enter your email address when you request a Demo Account, and information about how to log into your new Demo Account will be sent to that email address.