At this point, I would like to emphasize again that you should think about how and what you would want to trade on the stock exchange in advance. CME Group is one of the world’s largest exchanges, offering a wide array of futures and options on futures products across different markets. For example, if a day trader only trades for the first two hours of the trading session, typically they need to wait a full day between each trading session. With Market Replay, a trader can download multiple days and trade that specific 2-hour period back to back to back, which provides much more practice in a shorter period of time. To connect with Market Replay, select it as the Connection type. Trade simulator reviews speak highly of this service and it isn’t hard to see why.
- Similar to crude oil futures, natural gas futures have significant liquidity throughout trading sessions.
- Take control of your trading journey and trade how you want, where you want.
- NinjaTrader has its flagship advanced trading platform for Windows-based desktop computers.
- First, only NinjaTrader 7 can be used, while NinjaTrader 8 does not support that connection anymore.
I did use the free version until the program was exactly what I needed. NinjaTrader is free to use as long as no brokers are connected via API-Connect. However, NinjaTrader’s greatest strengths are automation, so a broker connection is required.
For live trading, you can use their free platform with all the basic essentials or choose a paid license level for more advanced features and lower commissions. Futures and forex trading can be done using NinjaTrader’s brokerage services. Futures and forex traders may want to open an account to connect trading systems starting at NT7 +/- NT8 directly with the brokerage account. NinjaTrader offers advanced features and tools traders often need, such as optional order flow analysis capabilities.
Traders can quickly access fully automated services through the ‘point and click’ construction which is suitable for non-programmers. Alternatively, the C# based trading framework is available for more experienced investors. The platform interface offers high-level https://broker-review.org/ customization, including backgrounds, fonts and bar spacing. Users can also insert technical indicators and drawing tools as well as change overall chart layouts. NinjaTrader can be reached by email, phone and an online support form for customer service.
A great feature of the platform worth mentioning is the ability to place simulated trades, complete with an imaginary account and profit/loss summary. The fact that NinjaTrader has been around since 2003 is definitely a good sign. If you’re curious how NinjaTrader fees look overall, the platform does offer an “all-in fee guide” that outlines futures commissions for each of its plans based on the type of futures being traded. Customize your futures trading platform without a programming background.
Finally, investors can use NinjaTrader to simulate trading (“paper trading”) for free. This allows you to learn and use the system, with data provided by NinjaTrader. Consider working with a financial advisor as you sort through the many online investing platforms to find one that fits your skills and goals. NinjaTrader is lagging behind when it comes to payment methods, as the majority of brokers support payments via credit cards, debit cards, and e-wallets. It typically takes between one and two business days for deposits and withdrawals at NinjaTrader to be processed. In terms of the account opening process, this follows standard protocols including KYC policies and providing proof of ID and address, as well as other personal information and contact details.
How Much Does NinjaTrader Cost?
It is possible to look back at the past and create a system used in today’s markets. NinjaTrader 8 comes with many trading questrade review tools and is a great construction kit. However, the development of strategies and indicators is not without limitations.
Depth of Market Tools
This is something that an experienced system developer will be able to recognize. Even though it is controversial to use historical data for future price movements, technical analysis is often the first choice of private investors. My opinion is that manual trading can’t make money using technical analysis. It is still possible to work cost-effectively while not investing one dollar on the trading platform—a clear plus. In addition, NinjaTrader can simulate trading in real market conditions (paper trading) and develop trading strategies.
The company also has a YouTube channel which hosts additional content. The key to making the most of the services on offer is to spend some time exploring their video library and educational services once you’ve logged in. One of the best back testing software around, create any indicator you can think of, (Coding in Pine Script is Easier – But extremely limiting).
Trade futures with the industry leader
Our comprehensive training library and education resources are designed to help you learn at your own pace. Even if you can’t find the right functions at Tradovate, rest assured that there are other options available on integrated platforms like Bookmap or TradingView. In the latest update version, NinjaTrader has enabled users to download and utilize the software free of charge. Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns). There are no guarantees that working with an adviser will yield positive returns.
Who’s NinjaTrader For?
The free version, which is included with all brokerage accounts is a great starting platform for new traders without the financial commitment. As you grow in your trading and are ready for more tools and functionality, you can add more complexity. Although the software is not unique, the visualization of the chart and market analysis using long-term price data makes it one of the most appealing trading tools for day traders. The platform supports all the usual order types, including market, limit, stop market, and stop-limit orders as well as advanced OCO (one cancels other) orders. If you’re interested in automated trading, NinjaTrader’s ATM Strategies provide discretionary traders with semi-automated features to manage their positions. Alternatively, you can fully automate a strategy using a “point and click” construction for non-programmers, or by using NinjaTrader’s C#-based trading framework.
Advantages of NinjaTrader
NinjaTrader is a powerful derivatives trading platform specializing in futures, forex and options. A free version does exist without the extra goodies provided by Trader + and OrderFlow + but users can still break down charts, backtest strategies and trade without upfront payment. NinjaTrader hosts its own brokerage services but users have their choice of several different brokerage options. Accounts have minimums depending on the securities traded and commissions vary depending on the version of the platform.
Top 3 Alternatives to NinjaTrader
Aspiring scalpers can hone their craft on Heiken-Ashi charts, whilst having access to playback functions, market and volume profiles, and more. The core essentials NinjaTrader software package is available free of charge. This is the platform’s most basic offering and covers only the key features needed for live trading.
NinjaTrader’s low commissions and fees, free tools, and an active community forum will work to any trader’s advantage. NinjaTrader is one of the top brokers for futures and forex trading. The unlimited use of its free platform is a great way to get acclimated to NinjaTrader before deciding to trade live. The fact that trading software is almost completely free of charge is something I love.
The minimum deposit for opening an account with NinjaTrader is $400. Additionally, there are three different licenses to choose from with varying account fees and commissions. When it comes to customer services, you can contact the NinjaTrader customer support via telephone, Live Chat, email, and a support forum. Furthermore, you can also submit questions or request and receive a fast response from the support team in a matter of minutes. You can also set up alerts and notifications on the desktop platform such as new intraday high alerts and price alerts. Future contracts gather a large trading volume daily which leads to high levels of liquidity.
