NinjaTrader Review 2023
|By: Jeremy Biberdorf||Aprll 30, 2022|
In a Nutshell: NinjaTrader is a platform that features brokerage services and software resources for active traders. Users gain access to useful charts, and live trading. For a fee, NinjaTrader offers features such as back-testing and automated trading. It’s a one-stop-shop for active traders to find all the tools they need.
|Account Min||Platform Fee||Offerings||Resources||Mobile App|
|$400 for futures trading and $60 for forex||Starting from $60/month. Extras include software leasing fees and inactivity fees||Commission-free stocks, futures, options, forex||Charting tools, technical analysis tools, automated trading||Yes|
- Provides many useful trading resources and tools
- Allows for a lot of third-party add-ons
- Users can practice using the platform before investing their money
- Accessible customer support
- The platform charges an inactivity fee after one month of no activity
- No crypto trading
- Meant for active traders (not recommended for beginners)
Compare to Other Investment Platforms:
Platform FeeStarting from $60/month.
FeesStarts at $84/month
Fees$39 - $119/month
What is Ninja Trader?
NinjaTrader is a platform designed for a niche of traders who are active in their approach and require a lot of resources. It offers both brokerage services and software to its users and some features are free to use such as the charts, live trading, and analysis tools. The premium features do require an extra fee because users will need to buy the software, or there is the option to lease it for a cost per month.
Aside from what NinjaTrader brings to the table, it is also compatible with thousands of third-party app add-ons to support your needs.
NinjaTrader Review – The Features
A major aspect of what defines a good product or service is its interface and usability. NinjaTrader offers crisp and clean images and customizable charts for users to play with. You can change the colors, spacing, text, and fonts, among other things, to personalize your experience.
It’s very easy to make notes and add indicators with the tools NinjaTrader already integrates. It may take a little bit of time to learn everything as it is a very feature-packed platform.
NinjaTrader offers futures trading, options, forex, and CFD asset classes. When used in tandem with some other platforms such as TD Ameritrade, users can also access stocks.
As for the services, NinjaTrader offers two types – an online brokerage and an analysis platform complete with charts and tools. The former works with supporting brokers, such as the above-mentioned TD Ameritrade, and NinjaTrader connects you directly to it. The latter, the market analysis platform, has many integrated tools (and there are a lot!).
What’s great about NinjaTrader is its customizability. It’s perhaps one of the most customizable platforms available for trades as it allows the integration of thousands of apps.
There is a fair amount of fees attached to the platform. Users have to consider trading fees, which come with every transaction (may come as a flat fee), the commissions for each trade, and then there is the inactivity fee which you will be charged if you do not make any trades for over a month.
The margins and fees on NinjaTrader are considered on the low end compared to similar platforms and they are within the range of $0.10 to $0.50 per contract.
NinjaTrader’s focus is on market analysis tools and charts, which means it is lacking in certain other areas such as news and data. If you need financial statements and other economic data, we suggest searching for third-party apps that may have what you need or supplement NinjaTrader’s services with another platform.
Another unfortunate drawback is the lack of portfolio reports and analysis tools. While NinjaTrader does provide you with the resources to make your own decisions on trades, it does not have the reporting and analytical tools for asset allocation information. You may have what you need to make the decision, but not for data for guidance.
NinjaTrader also has educational resources which include webinars, videos, and documents, all for free.
The customer service representatives at NinjaTrader are pretty accessible via various channels such as email, phone, a live chat, and Twitter. There is also a support forum on their site that answers all the frequently asked questions users may have.
Who Should Use NinjaTrader?
NinjaTrader is dedicated to traders who are more hands-on, active, and have experience. Active traders will appreciate the low commissions, helpful tools, and the easy-to-use platform. Beginners may not benefit as much from NinjaTrader until they develop a deeper understanding of the market, the asset classes, and how to use the tools.
For futures and forex trading, NinjaTrader is a top contender. It has free features that can already provide a lot of value, but users have the option of accessing premium features for a fee. Get started with NinjaTrader here and start accessing its resources.