NinjaTrader is an award winning software designed for online trading of CFDs, stocks, forex and futures contracts. The software was designed by an American company known as NinjaTrader Group, LLC with headquarters in Denver, USA and office locations in Chicago, IL (USA) and Germany. The company also owns NinjaTrader Brokerage which is a National Futures Association (NFA) registered introducing broker (NFA #0339976) providing brokerage services to traders of futures and foreign exchange products.
NinjaTrader was developed in 2003 and has evolved over the years. Today, the latest edition is version 8. NinjaTrader has over 1,000 add-on apps and over 60, 000 users from over 150 countries across the world.
NinjaTrader Platform Costs
Unlike the MT4 or MT5, usage of NinjaTrader is not free: it comes with a cost. Three payment options exist.
Free Version: To use the free version, you must open an account with the NinjaTrader brokerage and fund the account. This version provides all the basic features required for trading.
Lease: This version includes all the premium features of the platform. You can either use the NinjaTrader brokerage or choose any of the supported brokers offering the platform. The lease costs $225 quarterly, $425 every 6 months or $720 annually.
Outright Purchase: To buy a lifetime license of NinjaTrader, an outright payment of $1,099 is required. Alternatively, 4 monthly payments of $329 is accepted.
Here’s how to install NinjaTrader on your trading computer.
- From the website (www.ninjatrader.com), download the installation file. Ensure that your PC meets the minimum requirements of Windows 7 or later, 2GB RAM, DirectX10 compatible graphic card, Microsoft .NET framework 4.5, and screen resolution of 1024 X 768.
- Run the setup file.
After installation, run the application and proceed to platform activation for Live Trading. But, if you registered for a demo account, you will receive a user name and password in your email which will be used to access the platform. Select the connection type, enter the login details and click ‘connect’.
Platform Features of NinjaTrader
The NinjaTrader is a sophisticated platform with multiple tools. Here are some of its features:
Fully Customizable: The entire platform consists of floating windows that can be minimized, linked, maximized or closed. Several tabs can be used to display many features in a single window. The interface, appearance, colors, etc can be customized to suit the trader’s preference.
Advanced Trade Management (ATM): The NinjaTrader platform is built to minimize risks to the trader. Once a trade is activated, the system stores the trading parameters which include ‘stop loss’. If a system failure, internet disconnection, etc is later experienced, the inputted order parameters are still effected by the system. This helps to curb losses to the trader. The SuperDom and ATM provides enhanced features for order entry, adjustment, cancellation and closing. Order types available include stop market, market, stop limit, limit and MIT. Risk management tools are also available.
Charting: The NinjaTrader comes with sophisticated charting capabilities. The charts can be displayed on multiple timeframes. There are about 16 chart styles such as box, candlestick, kagi line, equivolume, etc.
Indicators: There are about 100 inbuilt technical indicators that came with the NinjaTrader 8. Also, there are over 100 custom built indicators that can be installed as add-ons to the platform. Some of the popular indicators are MACD, Bollinger, Moving average ribbon, Zig zag, etc. There are over 30 drawing tools.
Trade automation: Many traders are embracing trade automation. This is because after testing and perfecting strategies, technology can help automate it through softwares that will recognize the pattern, then, enter and exit trades automatically. NinjaTrader allows trade automation using Ninjascript. Also, there are several vendor developed applications that can execute automated strategies, process trading signals and sound alerts when trades should be entered and exited.
Market Replay: This is a tool that downloads historical data. It is beneficial for strategy development, testing and perfection.
Market Analyzer: This tool monitors the markets in order to identify trading opportunities. It can be customized using price, indicator values, etc.
List of NinjaTrader Forex Brokers
NinjaTrader brokerage is the only broker that offers the free version of the NinjaTrader platform. There are other brokers that support the NinjaTrader platform. Some of them are: Forex.com, Oanda, FXCM, City index, Interactive brokers, TD Ameritrade, CQG and Multibroker.
Forex.com is a global online forex/CFD broker that is owned and operated by the Gain Capital Holding Inc., with Head Office in New Jersey, USA. Gain Capital was founded in 1999 and has become a global brand with 12 offices in North America, Europe and Asia Pacific. It is publicly traded on the New York Stock Exchange (NYSE) with the ticker symbol; GCAP. Forex.com is regulated in the United States by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). They are also regulated in six other countries across the world. Forex.com offers low spreads on cutting edge platform. The broker offers all the full features of NinjaTrader 8.
FXCM is an online forex/CFD provider. The company was established in 1999. The headquarters is in London with 9 other offices around the world. The broker is regulated by the FCA in UK, FSCA in South Africa and ASIC in Australia. FXCM states that its goal is to provide traders with the ultimate trading experience. The broker offers low spreads on multiple trading instruments.
Related: Forex.com vs FXCM
FXCM provides competitive pricing and speedy executions on the NinjaTrader platform. The broker also provides their clients a link to download the demo version of NinjaTrader on the platform developer’s website.
Founded in 1996 in the United States, Oanda has grown to become a global forex/CFD broker. It is a registered FCM and RFED with the CFTC and a member of the NFA. Oanda is regulated by the FCA in UK, ASIC in Australia, MAS in Singapore and the IIROC in Canada.
Related: Forex.com vs OANDA
Oanda offers quality executions, pricing transparency and a commitment to provide excellent services. Over 100 assets are tradable on modern platforms. NinjaTrader provided by Oanda broker comes with low spreads and quality executions.