NinjaTrader is a US-based trading software company and offers a world-class online trading platform with sophisticated research tools. NinjaTrader users benefit from the ability to connect their brokerage accounts to the NinjaTrader platforms.
In this NinjaTrader 2022 review, we cover all the key metrics, from fees and commissions to mobile trading and security, so you can choose the right broker for your trading needs.
With so many options available, it can be hard to make the right choice, but we've got everything you need to know in this full broker review.
What is Ninja Trader?
Launched in 2003, NinjaTrader is a US-based software company that offers a top-tier trading platform with a wide range of research tools.
In addition to providing software, NinjaTrader is registered as a National Futures Association company and an introductory broker. But what is an introductory broker?
In simple terms, this means that your assets and funds are held with another broker such as Interactive Brokers or TD Ameritrade, while commissions, trading platform, clients and brokerage services are managed by NinjaTrader.
Also, if you have a Forex.com, City Index, Oanda or FXCM brokerage account, you can connect it to the NinjaTrader platform. The main advantage of connecting other brokerage accounts with the NinjaTrader platform is that you can buy and sell other popular financial instruments like stocks on the NinjaTrader trading platform.
Advantages
- Low daily trading margins to trade Micro Futures from just $50
- Zero platform commission
- Practice simulated futures trading using a demo account
- 24 hour customer service
- 1000+ apps to customize your trading platform to your needs
- Microfutures offer you the ability to trade the latest stock index contracts for cost.
- Unlimited access to simulated futures trading
- High-end charting and analysis tools
- Over 100 different technical indicators and technical analysis tools
- Lots of third-party business apps
Disadvantages
- $25 minimum account activity fee after one month of inactivity
- Withdrawal fees for domestic transfers are USD 30 and USD 40 for international transfers.
- NinjaTrader does not support a mobile trading app
- The desktop platform is only compatible with the Windows operating system
- $400 minimum deposit
- No access to cryptocurrency trading
- Visit NinjaTrader today and trade futures contracts with Advanced Trade Management
What can you invest and trade on NinjaTrader?
NinjaTrader offers traders competitive intraday spreads of $50 for micro contracts and as little as $500 for hot futures markets like the E-mini S&P 500 and Mini-Dax.
NinjaTrade only supports futures contracts and options on futures contracts. This means that in order to trade other popular financial assets, such as stocks and forex trading, you will need to connect your brokerage account to NinjaTrader.
NinjaTrader Trading Assets
The futures exchanges covered by NinjaTrader are:
- CME
- CBOT
- COMEX
- NYMEX
- EUREX
But what are the benefits of futures trading? Futures contracts are derivative contracts that gain value from other assets, such as stocks, indices, and commodities, to name a few.
Futures contracts are popular with the trading community as they are effective at managing risk and protecting against potential losses.
Futures trading involves using a margin that is part of the value of the sum (typically 10% of the price of the futures contract). Futures trading allows traders to gain greater exposure to stocks and other assets without having to own the underlying asset.
Therefore, the potential profits can be multiplied if the market moves in the direction of the position they took. However, this also applies to potential losses.
For example, if a trader decides to invest $2,000 in Microsoft stock (MSFT) at a price of $200, they can buy 10 shares or a futures contract for 100 shares of Microsoft. Suppose there is also a margin of 10% for 100 shares of MSFT.
If Microsoft's stock price increased by $10, a trader who would invest $2,000 in a 100-stock MSFT futures contract would earn $1,000, versus $100 invested in the same stock.
Futures contracts gather a large volume of transactions on a daily basis, leading to high levels of liquidity. With a continuous flow of buyers and sellers in the futures markets, market orders can be filled quickly.
NinjaTrader also offers its users access to various options exchanges such as CME, NYMEX, CBOT and COMEX for futures trading options.
Futures options offer the right, as opposed to the obligation, to buy or sell an underlying futures contract at a predetermined price on or before a defined expiration date.
You can gain exposure to the commodity, indices and currency markets by investing in many futures, E-Mini and E-Micro, such as E-Mini NASDAQ 100 Futures, EUR/USD Futures, E-Micro EUR/USD Futures and E-Micro Futures. Mini Crude Oil Futures, to name a few.
NinjaTrader Fees and Commissions
Generally speaking, the fees and commissions NinjaTrader charges are relatively low, making it a great partner for active day traders.
In addition to the commission NinjaTrader charges, you incur separate fees such as exchange and NFA, as well as order routing fees. By default, the order routing fee is $0.10 per contract through the Continuum connection.
There is also the option to choose the rhythmic connection, which has an order routing fee of $0.25 per contract.
Now let's look at the non-trading fees that NinjaTrader charges:
- Deposit fees
- Domestic bank transfer withdrawal fee: $30
- International bank transfer: $40
- Minimum Account Activity Fee Existing accounts that log into their business account but do not transact during the month will be charged a $25 inactivity fee
- Tier II Market Data Subscription $39 per month including all 4 trades or $15 per month per trade
- $50 margin call
- Account fee $0 for free license, annual rent $720 per rental license, one-time payment $1,099 for lifetime license
Ninja Trader user experience
The most impressive thing about NinjaTrader is that it only offers a desktop trading platform that is only compatible with Windows operating systems.
Also, the only way to use a web trading platform in conjunction with the NinjaTrader desktop platform is to connect an existing third-party brokerage account such as Interactive Brokers or TD Ameritrade.
Also, NinjaTrader does not offer a mobile trading app which is a definite disadvantage for traders especially in current times when the emphasis is on instant services and user convenience.
Therefore, the only way to manage your trading account using a mobile app is to connect a third-party brokerage account to the NinjaTrader desktop platform.
NinjaTrader trading platform
With customizable charts and other advanced tools and features, the NinjaTrader desktop platform is perfect for active traders. As for the user experience for novice traders, it can be quite intimidating and difficult for someone with little online trading experience.
The desktop platform facilitates full customization along with the ability to integrate thousands of different application plugins. It should be noted that the functionality of the platform varies depending on the type of license.
For example, with the rental license, you can access all the basic features such as charts, market analysis, paper trading, as well as automated trading, automatic stop-loss orders and much more.
NinjaTrader Chart Indicators
As far as the search functionality is concerned, it is also very good because it is simple and easy to use. Just open the Tools menu and click Instrument Lists. To add new assets to the list of instruments, simply type the name in the search bar or browse the relevant asset categories.
You can also set up alerts and notifications on the desktop platform, such as new intraday bullish alerts and price alerts.
NinjaTrader's help guide and webinars are excellent tools for beginners and advanced traders looking to get started with the desktop trading platform.
The help guide is well thought out and you can find exactly what you are looking for through the downloadable content on the web or in PDF format.
NinjaTrader Market Analyzer
When it comes to research tools and charting features, NinjaTrader offers a wide range of research and charting tools. The charts are easy to use and offer various technical indicators such as Bollinger bands and Fibonacci extensions. Additionally, NinjaTrader clients have access to automated trading tools like Bloodhound, which provide visual feedback on their trading charts by broadcasting trading signals.
What about trading ideas and fundamental data? NinjaTrader does not offer trading information or background, but there is a helpful blog where concise articles dealing with topics investors may be interested in are regularly posted.
NinjaTrader account type
NinjaTrader offers three different licenses, Free, Rental and Lifetime, all with different commissions, prices and features.
If you choose the free license, your funds will be handled by Dorman Trading or Phillip Capital. Alternatively, you can connect an existing brokerage account with one of the following brokers: Interactive Brokers, TD Ameritrade, Oanda, FXCM, Forex.com and City Index. In this case, your funds will be held by the third party broker and NinjaTrader will be used for your desktop trading platform.
NinjaTrader Licenses
The main advantage of connecting your existing brokerage account with the NinjaTrader account is that you can access other financial instruments, such as spot forex trading and CFDs, as well as the ability to use online trading platforms. online and mobile along with the NinjaTrader trading platform.
If you choose NinjaTrader's free license and brokerage through Dorman Trading or Phillip Capital, you can select one of the following account types:
- individual account
- LLC/trust account
- Joint account
- retirement account
NinjaTrader Compatible Brokers
Regarding the account opening process, the account follows standard protocols, including KYC policies and proof of identity and address, as well as other personal and contact details. Once you have accepted the terms and conditions, the verification process may take up to 5 business days.
NinjaTrader Mobile App Review
As already mentioned, NinjaTrader does not offer a mobile trading app. Therefore, if you wish to trade using your mobile device, you will need to connect your existing brokerage account to use it in conjunction with the NinjaTrader desktop platform.
NinjaTrader Payments
NinjaTrader supports 3 account base currencies including US Dollar, British Pound and Euro which helps reduce overall trading costs because if you fund your trading account with the same currency as your bank account, or if you buy and sell financial instruments in the same currency. As the base currency of your account, you can avoid having to pay conversion fees.
Although there are no deposit fees or fees for incoming checks or transfers, the only payment options available are by bank transfer and check.
Also, the withdrawal fee for a domestic wire transfer is $30, while the fee for international wire transfers is $40.
NinjaTrader lags behind when it comes to payment methods, as most brokers support payment via credit cards, debit cards, and e-wallets. Deposits and withdrawals at NinjaTrader typically take between one and two business days to process.
NinjaTrader Contact and Customer Support
As for customer support, you can contact NinjaTrader customer support via phone, live chat, email, and a support forum.
In addition, you can also submit questions or requests and receive a quick response from the support team within minutes.
All you have to do is enter your name, email address and phone number, then enter your question or problem and click Submit Request.
There is also a useful and practical FAQ page that contains a wide range of answers to general questions about the NinjaTrader software and trading platform.
Is NinjaTrader safe?
When you choose a license and open an account with NinjaTrader, your assets and capital are held by third party brokers such as Phillip Capital, Dorman Trading, TD Ameritrade and Interactive Brokers.
These third-party brokers are regulated by major financial authorities, such as the US Commodity Futures Trading Commission, the UK Financial Conduct Authority, and the US Securities and Exchange Commission.
NinjaTrader, for its part, is not listed on any major exchange and therefore does not publish its financial statements. However, NinjaTrader is registered with the National Futures Association and is therefore licensed to offer introductory broker services to other brokers.
In terms of protecting client funds, our research revealed that NinjaTrader would be best suited for more experienced and advanced traders, as futures trading does not qualify for investor protection programs as well as the fact that there is no balance protection.
Simply put, if your account balance drops below zero, you are responsible for paying the losses.
How to start trading with NinjaTrader
The minimum deposit to open an account at NinjaTrader is $400. Also, you can choose between three different licenses with different account fees and commissions.
- Step 1: Account opening
To open an account with NinjaTrader through a third party broker, simply go to the NinjaTrader website and select the financial instrument you wish to trade. For futures trading, you can open a brokerage account with Dorman Trading or Phillip Capital.
- Step 2: Provide your personal information
In accordance with strict KYC policies and regulations, you will be asked to provide certain personal information, such as your name, date of birth, email address and phone number, as well as answers to various financial questions.
- Step 3: Verify your account
You will then need to verify your identity and address by submitting copies of your passport, driver's license, utility bills and bank statements that are no more than 6 months old.
- Step 4: How to buy and sell assets
To start the process, log in to your NinjaTrader account and go to the Control Center. Click the menu header called New and select Basic Entry. From here, you will need to choose the account you want to trade from and the ATM strategy. You can then specify the instrument (which can be EUR/USD, for example). Next, depending on whether you want to buy or sell the market, click on the corresponding order in the trading window.
Conclusion NinjaTrader
During our research, we found eToro to be a better option for novice traders. The interface is easy to use and all trades are included instead of demo or live trading.
Also, if you want to adopt passive trading methods like copy trading or want to trade stocks without paying a penny in commissions, just follow the link below and open an eToro account today!