NinjaTrader Review
NinjaTrader stands out as a robust trading platform for futures and forex. But is it right for you? Read on to find out.
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Get up to $250 in Futures Commission Rebates | |||
Overall Score | 4.5 | ||
Online Platform | 4.5 | ||
Customer Service | 5.0 | ||
Ease of Use | 4.0 | ||
Education | 4.0 | ||
Research | 5.0 | ||
Pros and Cons
- Low trading fees
- No minimum deposit
- Available training opportunities
- Limited available market
- Lifetime plan required for lowest trading fees
Bottom Line
Trading platform and brokerage service for active futures and forex traders
NinjaTrader combines advanced charting tools, a variety of order types, and highly customizable features to cater to professional and serious traders.
In this review, learn the key features, pros, and cons of NinjaTrader, so you can decide if it's right for you.
What Is NinjaTrader?
NinjaTrader is an online trading platform and broker for futures and forex. It supports futures contracts on indices, cryptocurrencies, commodities, etc.
Day trading margin starts at $50, and commissions can be as low as $0.09 with the lifetime plan.
You can use NinjaTrader on desktop, web, and mobile, making it super convenient to trade from anywhere.
One of the cool things about NinjaTrader is its advanced charting tools. You get free, customizable futures trading charts, simulated trading, live market streams, market trackers, and powerful analytical tools to help you make informed decisions.
NinjaTrader is a good broker. It is a favorite among futures traders, thanks to its powerful and customizable desktop and web platforms. Plus, it's a budget-friendly option with lower fees and margin requirements compared to many other brokers.
Who Is It Best For?
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NinjaTrader is best for:
- Experienced traders of futures and forex
- Active traders who are focused on technical analysis
Get up to $250 in Futures Commission Rebates
Open and fund a NinjaTrader account & receive up to $250 in commission rebates* for trades placed within 30 days of fund date.
Trade Futures Free for 30 Days
Offer valid for a limited time only. Commission rebate will be applied to the account holder's balance for trades placed within 30 days of fund date. Rebate will be based on trades linked to this promotion only, not any other funded account. Existing clients and inactive account holders are exempt and not eligible. Offer not combinable with other offers. Traders will receive a rebate for commissions up to $250. If applicable, a rebate will be applied by the middle of the following month. Available for individual accounts only. Joint, IRA and professional accounts are not eligible for this offer. Credits may be subject to US withholding taxes & any associated taxes are the customer's responsibility. Offer end date and program requirements are subject to change without notice. Exchange, clearing fee and NFA fees still apply.
Who Should Skip It?
You should skip NinjaTrader if you are:
- A trader who is focused on fundamental analysis
- A trader of stocks, options, commodities, and cryptocurrencies
NinjaTrader Pros and Cons
Pros:
- Low trading fees
- No minimum deposit
- Available training opportunities
- Can trade micro and e-mini futures
Cons:
- Limited available market
- Lifetime plan required for lowest trading fees
Pricing
| Plan | Fee | Commissions per Side (Micro Contract) | Commissions per Side (Standard Contract) |
|---|---|---|---|
| Free Plan | $0 | $0.35 | $1.29 |
| Monthly Plan | $99 per month | $0.25 | $0.99 |
| Lifetime Plan | $1,499 one-time fee | $0.09 | $0.59 |
NinjaTrader offers a free plan, monthly plan, and lifetime plan.[1]
- Free Plan
You'll face a higher fixed fee for each futures contract, making it a bit more costly per transaction. - Monthly Plan ($99/month)
You'll enjoy reduced commission per contract compared to the Free Plan. This means you save money on each trade, which can add up over time, especially if you trade frequently. - Lifetime Plan ($1,499 one-time)
The Lifetime Plan offers the lowest commissions of all. Although it requires a bigger upfront investment, the long-term savings on trading fees can be substantial, making it an excellent choice for committed traders.
You don't need to worry about a minimum account balance to get started at NinjaTrader. You can open an online futures brokerage account with any amount that suits you. However, to maintain a trading position, you'll need at least $50 for micro e-minis, $500 for e-minis, and $1,000 for commodities.
Key Features
Listed below are the key features of NinjaTrader.
Trading Platform
NinjaTrader offers three versions of its trading platform:
- NinjaTrader Desktop: The flagship platform with multi-monitor support and access to thousands of trading apps and add-ons.
- NinjaTrader Web: A cloud-based platform accessible from any PC or Mac browser.
- NinjaTrader Mobile App: Available for both Android and iPhone devices.
Order Types
NinjaTrader supports all standard order types, including market, limit, stop market, stop-limit, and advanced OCO (one cancels other) orders.
For those interested in automated trading, NinjaTrader's Advanced Trade Management (ATM) Strategies provide semi-automated features to help manage positions.
Charting Tools
You can easily add and customize technical indicators, strategies, and drawing tools within the chart.
The platform offers various bar types—like time-based, tick, volume, range, Heiken Ashi, Kagi, Renko, and Point and Figure—plus different chart styles, including candlesticks, OHLC, Kagi Line, and Mountain.
You'll have access to user-friendly order entry interfaces, such as Chart Trader, which lets you place and manage trades directly from the chart.
News and Research
Because NinjaTrader focuses mainly on futures and forex, it lacks financial statements, news, and economic data found on other platforms. While the technical data is comprehensive, you'll need another resource for fundamental analysis.
NinjaTrader offers advanced charting and market depth tools but has limited resources for research or insights. It's designed for active futures and forex traders, providing all the necessary tools and highly customizable features for success in these markets.
Education
NinjaTrader offers a free, accessible, and comprehensive collection of educational resources. While much of this content is provided by vendors and includes promotional material, it adds value by keeping the flow of education and ideas fresh.
The platform offers several weekly webinars and a library of recorded videos to help users maximize their experience.
The video library is organized into sections like Order Entry, SuperDOM, Market Analyzer, Charts, and Strategy Backtesting, and Optimization for easy navigation.
There's also some non-platform educational content on the NinjaTrader blog.
Customer Service
NinjaTrader offers 24/5 and weekend technical support, plus a 24-hour trade desk for emergencies and live orders. Live chat is available on weekdays with reasonable response times. For assistance, visit the Contact Us page to call, email, or submit a support request.
Phone: 1-800-496-1683
The support forum on the NinjaTrader website is also a helpful resource for finding answers or posting questions.
User Testimonies
Alternatives
Tradovate and TradeStation are some alternatives to NinjaTrader.
Tradovate
Tradovate is a futures trading platform that focuses exclusively on futures investing. It typically offers a 14-day free trial and has three plans: free, monthly, and lifetime.
The monthly plan is $99 per month, while the lifetime plan is available for a one-time payment of $1,499 or 4 installments of $499.[2] Fees for standard and micro contracts are similar to NinjaTrader's.
You can trade from desktop, mobile, or tablet, and access over 40 advanced trading tools. Day trading margin requirements start at just $10, allowing you to start with any amount.
TradeStation
TradeStation offers a wide range of investment options, including futures, stocks, ETFs, options, and mutual funds. For futures, it provides traditional and E-mini-futures contracts, along with tools like simulated trading, backtesting, and charting.
If you want diverse investment options, TradeStation is ideal. But if your focus is on futures trading, NinjaTrader is the better choice.
Thinkorswim is great for accessibility and ease of use, but if you're after something more robust, NinjaTrader is a fantastic choice. Its desktop-based approach offers enhanced performance and advanced features that really stand out. For traders who value stability, customization, and the ability to do algorithmic trading, NinjaTrader is the better contender.
Bottom Line
NinjaTrader is a top choice for active futures and forex traders seeking a robust, customizable platform. With advanced charting tools, a wide range of order types, and a supportive educational ecosystem, it offers everything needed for effective trading.
Reliable 24/5 customer support and comprehensive resources further enhance its appeal. However, those needing extensive research or fundamental data might need to supplement with other resources.
References
- ^ NinjaTrader. Pricing, Retrieved 07/03/2024
- ^ Tradovate. Commission Plans, Retrieved 08/11/2024
Get up to $250 in Futures Commission Rebates
Open and fund a NinjaTrader account & receive up to $250 in commission rebates* for trades placed within 30 days of fund date.
$20 Investment Bonus
- Open an Acorns account (new users only)
- Set up the Recurring Investments feature
- Have your first investment be made successfully via the Recurring Investments feature
Deposit $100 and Get $10 from eToro USA LLC
- Sign up for an eToro account
- Deposit $100
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