While many brokerage firms and trading platforms are registered in miscellaneous jurisdictions to benefit from more flexible legal regulations, Ninja Trader has its HQ office in the United States. It is also among the oldest trading platforms in the world. In fact, it was established back in 2003.
Right now, it is definitely one of the first choices when it comes to trading platforms and also financial brokers. So let’s look at NinjaTrader together and find out about its various features and functionalities.
A Basic Appraisal of Ninjatrader
Ninja Trader is very well-known for its advanced technical analysis tools and also functionalities that make it possible for traders to engage in automated trading.
It is especially popular with forex traders, among other traders who want to trade various financial instruments. As such, Ninja Trader also offers trading in futures contracts, foreign currencies, options, and CFDs.
It is also worth mentioning that NinjaTrader is a brokerage firm that is also a trading platform. This is the case with a lot of brokers, where they also have their own trading platform with the same name. Therefore, the following analysis would naturally apply both to the broker and the trading platform known as NinjaTrader.
What Are the Advantages of Ninjatrader?
Ninja Trader offers many features that can be regarded as its advantages. First and foremost, as we said this broker also has its trading platform.
This is exactly one of its advantages. The trading platform of NinjaTrader is designed in a way that it can meet the needs and demands of different types of traders. This includes traders who do not have a lot of experience in the market and would like to trade with a platform that is more straightforward and easier to use.
At the same time, this trading platform features functionalities that also make it suitable for highly advanced traders who are looking for tools and techniques that are more advanced and allow for more sophisticated analysis.
Ninja Trader is also a great trading platform for automated trading, as it allows for adding and implementing various tools that are part of automated and algorithmic trading. This includes countless expert advisors and add-ons from numerous third parties.
In addition to excellent capabilities that are related to technical analysis and also charting, Ninja Trader also provides greatly valuable education resources that can be used by any trader, no matter how much the degree of experience.
There are many video contents and other tutorials that are available in addition to a number of daily webinars that all traders can use to hone in their trading skills and improve upon the already existing ones.
What Are the Disadvantages of Ninjatrader?
There are a number of cons that can be considered for NinjaTrader. The biggest one perhaps has to do with fees and commissions. First of all, the minimum deposit fee is $400 which is quite high for some users who do not have a high initial equity. This is especially true if you compare this figure with that of other brokers.
Additionally, there is a fee for inactivity. This is a fee that is calculated on a daily or monthly basis for the time that your account is left active and does not include an open position. Some brokers do not consider this fee for their users. This is why brokers that do, will have this feature counted as a con for sure.
But that is not where it ends. Another fee that is definitely a con for NinjaTrader is the withdrawal fee. While many brokers have decided to place a really low withdrawal fee or forego on the matter altogether, Ninja Trader has decided to go another direction! Hence the $40 withdrawal fee. Of course depending on your method for withdrawal, there can be other added fees associated with withdrawing your funds from the platform.
But other than these and some other minor issues, Ninja Trader rounds up as a pretty advanced platform. Especially given the fact that it offers various account types to meet all the demands of users.
Different Account Types of Ninjatrader
A significant feature of any broker or trading platform are the different account types that are supported by the platform. Different platforms divide account types by various factors.
Ninja Trader has done so based on the size of the market participant and also their impact on the market. As a result, there are 4 main account types:
- Individual – this type of account is the most common type that is used by most traders. As the name suggests, this account type is more suited to the needs of individual traders. And of course, by sheer number, individual traders make up the highest portion in any market.
- Joint – of course this type of account is rather unique, in that many brokers do not in fact offer this type of account. A joint account at NinjaTrader is operated and indeed shared by more than an individual trader.
- Corporate – as you know, some of the most important market participants who actually bring a lot of equity in the market are institutional traders. This account type is specifically for hedge funds, companies, firms, organizations, and any participant that is basically a legal entity.
- Retirement – this is another account type that is rather unique to NinjaTrader. Although it is only possible for users who are residents of the United States, this account type offers ideal features for tax purposes, hence making it suitable for retirement.
What Are the Fees and Commissions?
We already discussed a little bit of the fees associated with this platform. But let’s take a better look at them.
Other than the $400 minimum deposit and also the $40 withdrawal fee, the fees related to trades can range from $0.59 and $0.09 per trade.
We also mentioned the inactivity fee, which is equal to $25 on a monthly basis for any account that remains inactive. Also, for the accounts themselves, users will have to pay for advanced options. There is a free license, but it does come with limitations.
This would include $720 for the annual license and another option which is paid every four months for a lifetime license that is equal to $1,099.
Legality and Regulatory Framework of Ninja Trader
NinjaTrader is officially registered in the United States. As a result, it is under the regulatory framework of NFA or the National Futures Association. Given the reputation of the NFA, you can see just how reliable NinjaTrader is. So as far as regulation is concerned, NinjaTrader is covered.
Ninja Trader is a financial brokerage firm and also trading platform that was founded in 2003 in the US. This platform offers highly advanced tools and functionalities that make this platform a top choice for advanced traders.