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NFA, CFTC
NinjaTrader is a brokerage for futures trading. Unlike other stock brokers, it focuses only on futures contracts. It’s a popular choice for trading stocks, futures, and forex, offering strong desktop and web platforms that you can tailor to your needs. In this review, we’ll explore what NinjaTrader provides, its pros and cons, and if it’s the right fit for your trading needs.
🏢 Headquarters | The United States, Denver, Colorado |
📅 Year founded | 2003 |
🗺️ Regulation | NFA, CFTC |
💻 Trading platform: | NinjaTrader 8 |
💰 Account currency: | EUR, USD |
📊 Accounts: | Futures account, Forex account, affiliates’ accounts |
💵 Withdrawal options: | Bank Transfer, Visa, Mastercard, and PayPal |
💵 Deposit options: | Bank Transfer, Visa, Mastercard, and PayPal |
🚀 Minimum deposit: | $50, For futures – $400 |
⚖️ Leverage: | Following the affiliates’ terms |
☪️ Islamic account (swap free) | No |
🎮 Demo Account | Yes |
💱 Spread: | Following exchange specifications and affiliates’ terms and conditions |
🔧 Instruments: | Derivatives market – instruments of exchanges CME, CBOT, NYMEX, COMEX, NYBOT, ICE US, ICE UK, EUREX |
📋 Orders execution: | Following the affiliates’ terms |
☎ Customer Support: | 24/7 |
📚 Education | Yes |
NinjaTrader is a Forex broker that has been offering brokerage services in the derivatives and foreign exchange markets since 2003. The company mainly focuses on the futures and futures options markets. It is a licensed company based in the United States, with offices in Germany and the Netherlands that serve mostly representative roles.
NinjaTrader doesn’t charge any fees for depositing money. ACH deposits, incoming checks, and incoming wire transfers are all free. However, there’s a $30 fee for bounced checks. ACH withdrawals are also free. Domestic wire transfers for withdrawals have a $30 fee, and international wire transfers cost 30 units in the originating currency.
Here are some other fees you should know about:
Pros | Cons |
---|---|
Offers algorithmic trading with over 850 proprietary systems | High trading costs due to commission fees, exchange and regulatory fees, and fees to the intermediary broker. |
Has a top-notch proprietary trading platform for the derivatives markets, similar to MetaTrader 4 for Forex | Requires an initial deposit of at least USD 400, which doesn’t include fees related to the US stock market. |
Competitive commissions | Only supports trading in US futures and options markets. |
No minimum deposit required | Users need a deep understanding of the derivatives market and exchange rules |
Low margins | No chat or phone support |
History of client risk neglect; fined in 2014 for regulatory irregularities | |
Not suitable for beginners | |
Mediocre mobile app and no support for mobile app; desktop platform only available on Windows | |
High withdrawal fees | |
Only offers futures trading |
NinjaTrader is registered with the National Futures Association (NFA), one of the world’s top regulators. This allows NinjaTrader to offer introducing broker services for companies like Phillip Capital and Dorman Trading. These companies are regulated by major financial authorities such as the US CFTC or UK FCA.
NinjaTrader’s deposit and withdrawal services need improvement. You can only use bank transfers and checks, and bank withdrawals have high fees. However, there are no deposit fees, and withdrawals are quick. NinjaTrader does not charge deposit fees, but your intermediary bank might if you make an international bank transfer. US residents can deposit using checks.
NinjaTrader has high withdrawal fees. Bank withdrawals cost $30, and international bank transfers cost $/€ 40. US residents can also withdraw using checks. It’s free at Dorman Trading but costs $4 at Phillip Capital.
A forex account at NinjaTrader is a trading account similar to your bank account, but it is mainly for trading currencies. Forex Islamic accounts, also called swap-free accounts, do not charge swap or rollover interest on overnight positions, which aligns with Islamic faith. The number and type of accounts a trader can open with a broker often vary depending on the country and the regulation authorities there.
NinjaTrader offers the following types of accounts:
Here’s how you can open a NinjaTrader account:
NinjaTrader offers three versions of its trading platform:
The research options on NinjaTrader are strong, but they only cover futures trading. They offer educational stuff on things like Futures 101 and how to use the NinjaTrader platform. You can also find market commentary, info about futures products, and technical analysis help.
One helpful thing on NinjaTrader is its livestreams. They happen before the markets open and close every weekday. During these livestreams, experts talk about the market, analyze it, and share trading tips. Some even show real-time futures trading, so you can see how others prepare and analyze the market.
We recommend NinjaTrader for traders because most reviews say clients are happy with it. It might take a few weeks to get the hang of it, especially for beginners. But there’s a big trading community, lots of learning materials, and you can customize it a lot. These things can help you trade better and make more money during the day. In short, NinjaTrader is great for traders who are into US futures and options.
Yes, the NFA and CFTC regulate NinjaTrader.
Yes, you can get details on commissions from customer support.
It might take several days for your money to be available, depending on your bank’s services.