By: Jeremy Biberdorf
March 30, 2023
NinjaTrader is a popular trading platform known for its advanced charting, customizable interface, and comprehensive range of trading tools. However, when considering any trading platform or brokerage service, it’s crucial to ask, “Is NinjaTrader legit?” In this article, we will explore NinjaTrader’s background, features, and services to help you determine if it’s a legitimate platform for your trading needs.
For an in-depth look into The NinjaTrader check out our full review.
Company Background
Established in 2003, NinjaTrader has evolved into a comprehensive trading platform that caters primarily to active and experienced traders. It specializes in providing advanced trading tools for futures markets, forex trading, and other asset classes. In addition to its trading platform, NinjaTrader also offers brokerage services through NinjaTrader Brokerage, which partners with several clearing firms, including Dorman Trading, Phillip Capital, and Interactive Brokers.
NinjaTrader’s user base consists mainly of advanced traders, professional traders, and experienced traders who demand advanced charting, market analysis tools, and the ability to develop and deploy custom trading strategies. The platform boasts a vibrant online community of thousands of apps, indicators, and trading strategies created by both the company and third-party developers.
Is NinjaTrader Worth It?
To determine if NinjaTrader is a legitimate and worthwhile trading platform, we will examine its features, services, and suitability for various types of traders.
Ideal for:
- Active traders: NinjaTrader is designed for active traders who require a powerful and flexible trading platform to execute trades quickly and efficiently. The platform offers advanced charting, numerous technical indicators, and customizable trading tools that cater to the demands of active traders.
- Futures traders: NinjaTrader specializes in providing advanced trading tools and resources for futures markets. The platform supports futures trading through its partnerships with Dorman Trading, Phillip Capital, and other clearing firms. Futures traders will find the platform’s features tailored to their specific needs.
- Forex traders: In addition to futures markets, NinjaTrader also supports forex trading. Forex traders can take advantage of the platform’s advanced charting, market analysis tools, and customizable interface to develop and execute trading strategies in the forex market.
- Experienced traders and professional traders: The advanced features and tools available on the NinjaTrader platform cater to experienced traders and professional traders who require a high level of customization, automation, and analytical capabilities.
Not ideal for:
- Beginner traders: NinjaTrader’s advanced features and tools may be overwhelming for beginner traders who lack the necessary knowledge and experience to utilize them effectively. These traders might find more beginner-friendly platforms that offer educational resources and a simpler interface to be a better fit.
- Long-term investors: NinjaTrader is primarily focused on active trading, and its features may not be as well-suited to long-term investors or those with a buy-and-hold strategy. These investors might prefer other platforms that offer more robust research tools and financial planning services.
Trading Platform and Tools
NinjaTrader’s trading platform provides a range of advanced trading tools designed to meet the diverse needs of its users. Key features of the platform include:
Advanced charting: NinjaTrader offers advanced charting capabilities that allow traders to analyze market data, identify trends, and develop trading strategies. Users can customize their charts with various technical indicators, drawing tools, and timeframes to suit their trading style.
Trading strategies: The platform supports the development and deployment of custom trading strategies using NinjaScript, a C#-based programming language. This enables experienced traders to create, test, and optimize their trading strategies and automate their trading.
Trade simulation: NinjaTrader provides a simulated trading environment that allows users to practice their trading skills and test their strategies without risking real capital. This feature is particularly useful for beginners who want to learn the ropes and experienced traders looking to fine tune their strategies before committing real money.
Mobile app: NinjaTrader offers a mobile app that allows users to monitor their trades, manage their accounts, and access real-time market data from their smartphones or tablets. This makes it easier for traders to stay connected and informed while on the go.
Thousands of apps and add-ons: The platform boasts a vibrant community of developers who create and share custom indicators, strategies, and other add-ons that can be integrated into the NinjaTrader platform. This offers users a wealth of resources to enhance their trading experience.
Brokerage Services
NinjaTrader Brokerage provides online brokerage services for futures and forex trading. The brokerage partners with clearing firms such as Dorman Trading, Phillip Capital, and Interactive Brokers to offer its clients competitive rates and access to a wide range of markets. Brokerage clients can take advantage of the platform’s advanced trading tools and resources to execute their trades.
Minimum Deposits and Account Requirements
NinjaTrader requires a minimum deposit for brokerage accounts, which varies depending on the clearing firm chosen by the trader. For example, Dorman Trading requires a minimum deposit of $1,000, while Phillip Capital requires a minimum deposit of $400. It’s essential to check the specific requirements of the chosen clearing firm to ensure it aligns with your financial situation.
Lifetime License and Pricing
NinjaTrader offers a free version of its trading platform for trade simulation, strategy development, and other uses. However, to access the platform’s advanced features and brokerage services, users can purchase a lifetime license, which costs $1,099. This one-time payment unlocks all the platform’s features and offers access to priority customer service.
Customer Service
NinjaTrader’s customer service is available via phone, email, and live chat to assist with account setup, platform inquiries, and trading-related questions. The company is known for its responsive and knowledgeable support team, which has helped it maintain a positive reputation among its users.
Final Thoughts – Is NinjaTrader Legit?
NinjaTrader is a legitimate trading platform and brokerage service that caters to active traders, experienced traders, futures traders, and forex traders. Its advanced charting capabilities, powerful trading tools, and customizable features make it an attractive option for those seeking a comprehensive trading platform.
However, it may not be the ideal choice for beginner traders or long-term investors, as its features and tools may be overwhelming for those new to trading or focused on a buy-and-hold strategy. Furthermore, the platform’s minimum deposit requirements and lifetime license cost may not appeal to all traders.
Overall, if you’re an active or experienced trader looking for a versatile and powerful trading platform, NinjaTrader could be a suitable option. It offers a wide range of advanced tools and resources, as well as access to brokerage services, making it a comprehensive solution for your trading needs. Click here to get started today!
