NinjaTrader is a brokerage firm that was founded in 2003, the firm provides brokerage services and software for functional traders. The brokerage offers different functionalities such as charting, market analysis, and live trading.
Ninjatrader as Platform
The Ninjatrader trading platform is good for traders who make use of technical analysis in their daily trades. The platform provides a lot of technical analysis tools. It offers real-time charting tools, real-time chart analysis, and technical indicators that can be easily customized to fit the trader’s strategy or plan. They also provide various third-party apps and add-ons from other trading establishments.
While analyzing the NinjaTrader platform, a test was carried out via an opened account with Philip Capital. This broker is regulated by top regulatory bodies such as the CFTC which is the US Commodity Futures Futures Trading Commission, and also FCA which is the UK’s Financial Conduct Authority.
Other brokers can also be connected with, like Interactive Brokers, TD Ameritrade, Forex.com, Oanda, FXCM, and City Index. The pros of connecting to these thrift party brokers are the ability to trade other financial assets without any hiccups on the NinjaTrader platform.
However, the platform provides various types of features for different types of accounts. The premium features are only accessible to traders who operate the premium accounts. These features include automated trading, advanced order types, and backtesting. The premium account is available for a fee of $60 per month, and a lifetime payment to buy at $1,099. These premium accounts offer traders an advanced order flow which allows them to trade using volume bars, and market depth.
However, the trading platform also offers traders a free version. The free version includes all brokerage accounts and it is a great start-up point for amateur traders. This is because the account features have less complexity and are suitable for a new trader. As the trader expands their trading knowledge, they can opt for an advanced trading account with complex trading features.
Ninjatrader as Brokerage
As a brokerage firm, NinjaTrader provides access to various trading platforms such as futures and forex markets. The firm has patterned with various brokers such as TD Ameritrade. These supporting brokers help the firm provide their traders access to various tradable assets such as futures, options, CFDs, and stocks.
The company is a US-based company that offers its traders a great trading platform with advanced technical analysis tools. The trading company is registered with the NFA which is the National Futures Association. They also are in partnership with brokers such as Philp Capital and Domain trading. This means that the supporting brokers provide traders with access to financial markets. That is, the cash and the trade are held and carried out by the brokers like TD Ameritrade, but the customer support and fees are offered by NinjaTrader.
What Are The Benefits Of Futures Trading?
Futures are derivative contracts that generate profits from other assets such as indices, commodities, and Stocks. These financial assets are well-known in the trading sector because they are used in risk management strategies such as hedging. These risk management strategies are used by most traders to curtail losses.
Trading futures contracts enable traders to have access to stocks and other financial assets without the need of purchasing the underlying asset. The profits are generated based on the volatility of the market. If the market moves in the position picked, it indicates potential profits, and if the market moves in the opposite direction, it indicates a loss. To trade a futures contract only a portion of the total equity is required, which is the 10% margin.
For example, if a trader invests $7,000 into Tesla (Tsla) stock priced at $700, the trader can only purchase 10 stocks, or a futures contract worth 100 Tesla stocks. For instance, there is a 10% margin for 100 Tesla stocks. If the value of Tesla increased by $35 the retailer who traded with $7,000 in a futures contract holding 100 tesla stocks would generate an income of $3,500, compared to a $350 revenue when trading the underlying stock.
Future contracts generate a big volume of trades daily which results in high liquidity. With a constant inflow of traders in the future market.
NinjaTrader provides access to numerous options markets for futures traders such as CME, COMEX CBOT, and NYMEX. Trading options on the futures market provide traders access and right but not an obligation to either buy or sell an underlying futures contract at an agreed price on or before the fixed expiration date.
Traders can also have access to the Forex markets, commodities, or indices by trading futures like E-Mini, and E-micro futures. The E-Mini NASDAQ 100 Futures, E-Mini Crude Oil Futures, E-Micro EUR/USD Futures, EUR/USD Futures, and E-Micro EUR/USD futures, etc.
Ninjatrader Trading Technology
NinjaTrader’s main data provider for its live brokerage accounts is the CQG Continuum. However, monthly data fees are charged with a full option for market depth. However, in the middle of 2019, the trading platform released a new version that allows its traders to get top-of-book data for lesser fees.
Data fees are based on the exchange. For instance, a full market depth on CME is charged $7 per month. If you want to access additional instruments, you can apply for the CME bundle, which consists of CME, COMEX, NYMEX, and CBOT, charged at $21 per month.
These features allow the trader to play, pause, and rewind previous price data on a tick-by-tick basis. This is done using the NinjaTrader’s Market Replay option, a feature that enables backtesting, trade practice, etc.
NinjaTrader offers a free account that allows live trading, free charting, and free market analysis. However, this account had to be funded with at least $400 for futures and $59 for Forex. Note: for SIM trading you don’t need a funded account. Installing the software is straightforward and user-friendly. Installation is easily done, after the installation, traders are given access to market charts, enabling traders to easily customize these charts and incorporate indicators.
The platform is filled with lots of equipment and resources, and knowing how to fully navigate these features might take a little while. Thankfully, NinjaTrader offers free daily webinars to aid traders. They offer various webinar topics like one-click order entry, strategy automation, how to create a workspace, fundamental chart formation, and connecting to data.
One of the best features offered by this trading platform is the ability to trade using a SIM account. SIM trade is very important, especially for new traders, who do not understand the ins and outs of the market. This stimulating trading helps them to get awaited with the trade g platform and could cause costly mistakes such as making a wrong trade entry, like hitting the SELL instead of BUY. It also helps new traders test their trade g plan and strategies before going live.
Ninjatrader Tradable Assets
NinjaTrader provides various financial assets. They offer about $500 for popular futures markets like the Mini-Dax, the E-mini S&P 500, and $50 intraday margins for Micro contracts.
NinjaTrade accepts only futures and options on futures trading. That means trading other tradeable assets such Forex, stocks, commodities, indices, and cryptocurrencies requires the connection of your broker account to NinjaTrader. There are numerous brokers patterning with NInjaTrader that can easilybe connected with. These brokers are highly regulated and provide a good trading environment for their clients.
The Futures Exchange Supported By Ninjatrader Includes:
Ninjatrader Customer Care Service
The trading platform offers 24 hours 5 days a week customer service. They also provide a 24-hour trade desk for live trade orders and emergencies. The live chat support is accessible on weekdays via the NinjaTrader website, and they reply promptly. You can access all these support channels by visiting their contact us page on their website. They can also be contacted via Email, call, or by filling out a request form. They also have their social media accounts linked to their website.
The platform also provides a support forum, which is a good place for questions and answers. The support forum is grouped into five different sections:
The News and Announcements
The NinjaTrader 7 (legacy release),
The Suggestions and Feedback.
The NinjaTrader 8 (the current release)
The NinjaScript File Sharing
Ninjatrader Educational Materials
The trading platform provides a wide range of educational materials. These materials include educational webinars, videos, and documentation. They provide daily recorded videos, and webinars to help traders navigate the market sector, and also make important trading decisions. The video library is divided into numerous parts, such as Strategy Backtesting and Optimization, Order Entry, Market Analyzer, Charts, and SuperDOM. This grouping makes it easier for traders to easily find what they are looking for. They also have a blog where they publish articles and educational content. These contents can easily be accessed on their website for free, by anyone either registered or not.
Except for the provision of advanced charting tools and market depth provided by the platform, they lack resources that provide more information within the platform. As earlier stated, this trading platform is limited to a particular financial asset, it is focused on forex trading and active futures. Judging by that, they do not provide educational tools or trading tools that complement other financial assets. NinjaTrader platform only provides indicators and customizable features that compliment the future and forex trading platforms.
Educational content such as economic calendars, financial statements, and news associated with other financial assets are not featured on the platform. For a trader who is interested in trading other financial assets, it is paramount to find other fundamental mediums that provide the needed educational content.
Ninjatrader Commission And Fees
The platform provides its live data and advanced platform for free on the demo trading account. For live trading, they provide a free trade platform where you can access all the basic tools. They also offer a paid account where they provide advanced trading features with fewer commissions.
The paid version varies, a monthly payment of $60 is charged, and a lifetime payment of $1,099. The lifetime payment comes with lots of packages such as access to numerous premium features, premium trading management, and advanced order handling. They also have access to free upgrades for life, and order flow sets.
The platform charges low commission and margin requirements. A new account is funded with a $1,000 initial deposit and a commission of $.09 is charged per Micro contract. They also charge low commission for other day trading margins of $400 for GC and CL contracts, and $500 for ES, YM, and NQ contracts.
NinjaTrader is highly regulated and governed by the CFTC, which is the Commodity Futures Trading Commission, and the National Futures Association in the United States.
Ninjatrader Pros & Cons
Just like every other trading platform out there, they each have its advantages and disadvantages. Let’s take a look at them.
Pros of Ninjatrader
- The platform offers a low day training margin for Micro Futures
- It offers a trade of $50
- It offers SIM trading through a demo account
- Provides 24-hour customer care service.
- They provide easy-to-customize apps to perfectly suit the trader’s trading strategy.
- Micro futures allows traders to speculate on popular stock index contracts at a margin.
- Constant access to SIM futures trading
- They provide top-notch tools for technical analysis
- They offer over 100 different technical indicators and analytic tools.
- They offer numerous third-party trading platforms, brokers, and apps.
Cons of Ninjatrader
- NinjaTrader does not offer access to cryptocurrency trading.
- The desktop trading platform is not compatible with any other operating system, except Windows.
- $25 fee after one month of inactivity.
- $30 withdrawal fee charge and international wire transfers are charged $40.
- They do not offer a mobile training app.
- The minimum deposit is $400.
Is It Safe To Trade With Ninjatraders?
Apart from its regulation by the Commodity Futures Trading Commission, and the National Futures Association, the platform employs the use of encryption for its login process.
Ninjatrader is one of the most trusted futures platforms and brokerages in the market, however, if you don’t secure your accounts properly, there is a possibility of a loss of funds during trades. It is important to do adequate research before going into any trade.
In conclusion, NinjaTrader is a versatile trading platform and brokerage firm that caters to futures and forex traders. It offers a comprehensive suite of technical analysis tools, customizable charts, and a wide range of educational materials. The platform is highly regulated and secure, making it a reliable choice for both novice and experienced traders. However, it is worth noting that NinjaTrader does not offer access to cryptocurrency trading and has limited compatibility with operating systems other than Windows. Additionally, the platform does not offer a mobile trading app, which may be a drawback for traders who prefer to trade on-the-go. Despite these limitations, NinjaTrader remains a popular and reliable choice for traders looking to delve into futures and forex markets.