Why choose NinjaTrader
NinjaTrader is one of the best brokers out there for futures traders, impressing us with its low futures fees and sophisticated tool set. Their charting tools are perhaps the best that I’ve ever encountered. A word of warning though: setting up your trading platform at NinjaTrader can be a headache if you lack experience or aren’t particularly tech-savvy.
| ✅ Pro | ❌ Cons |
| ❖ Low trading fees ❖ Great platform and research ❖ Quality educational materials | ❖ High withdrawal fee ❖ No mobile app and desktop is only on Windows ❖ Only futures and options on futures |
NinjaTrader at a glance
| 🗺 Country of regulation | USA |
|---|---|
| 💰 US stock fee | Available if you connect brokers, like TD Ameritrade |
| 💰 Inactivity fee charged | Yes |
| 💰 Withdrawal fee | $0 |
| 💰 Minimum deposit | $0 |
| 🕖 Time to open an account | >3 days |
| 🎮 Demo account provided | Yes |
| 🛍️ Products offered | Options, Futures, Crypto |
Fees
Score: 4.3/5
NinjaTrader has low trading fees for futures and options on futures. The fee structure is transparent. On the negative side, there is a high withdrawal fee.
| ✅ Pro | ❌ Cons |
| ❖ Low trading fees ❖ Transparent fee structure | ❖ High withdrawal fee |
We compared NinjaTrader‘s fees with two similar brokers we selected, Optimus Futures and AMP Futures. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of NinjaTrader alternatives.
Low futures fees
US index futures fees are as follows – $0.35 per contract on Free license, $0.25 on Lease license, and $0.09 on Lifetime license.
| Broker | US micro e-mini stock index futures |
|---|---|
| NinjaTrader | $3.5 |
| Optimus Futures | $2.5 |
| AMP Futures | $1.4 |
The commission charged by NinjaTrader depends on the license you choose. Besides, you have to pay fees independent from NinjaTrader, like exchange or order routing fees.
| Free license | Lease license | Lifetime license | |
|---|---|---|---|
| Micro stock index futures | |||
| Commission | $0.29 | $0.19 | $0.09 |
| Exchange & NFA fee | $0.22 | $0.22 | $0.22 |
| Order routing fee* | $0.10 | $0.10 | $0.10 |
| E-mini stock index futures | |||
| Commission | $1.29 | $0.89 | $0.59 |
| Exchange & NFA fee | $1.25 | $1.25 | $1.25 |
| Order routing fee* | $0.10 | $0.10 | $0.10 |
*The default order routing fee is $0.10, as ‘Continuum' is the default connection. If you choose ‘Rithmic' connection, the order routing fee would be $0.25 per contract
NinjaTrader has also low options on futures fees. The commission, exchange, and order routing fees are the same as futures fees.
| Free license | Lease license | Lifetime license | |
|---|---|---|---|
| Commission | $1.19 | $0.89 | $0.59 |
| Exchange & NFA fee | $1.25 | $1.25 | $1.25 |
| Order routing fee | $0.10 | $0.10 | $0.10 |
High inactivity fee, high withdrawal fee
| Broker | Inactivity fee | Withdrawal fee |
|---|---|---|
| NinjaTrader | $0 | |
| Optimus Futures | $0 | |
| AMP Futures | $30 |
The account fee depends on the license you choose:
- No account fee at ‘Free' license
- $720 annual/$425 semi-annual/$225 quarterly fees at ‘Lease' license
- For a ‘Lifetime' license, there is a $1,099 single payment/$329 monthly payments for 4 months. This license is good for a lifetime
There is a $25 monthly inactivity fee, if you log in to the platform, but don't place any round trade (buy and sell).
Withdrawals have a high fee, too: $/€ 40 for international wire transfers and $30 for domestic wire transfers.
Safety
NinjaTrader is an introducing broker of brokers, like Phillip Capital or Dorman Trading. Your assets and cash will be held at these brokers, which are regulated by top-tier financial authorities, like the US CFTC or UK FCA. On the flip side, NinjaTrader is not a listed company and doesn't disclose its financials.
| ✅ Pro | ❌ Cons |
| ❖ Top-tier financial regulation | ❖ Not listed on stock exchange ❖ Financial information is not publicly available |
Is NinjaTrader regulated?
NinjaTrader is registered with the National Futures Association (NFA), which allows it to provide introducing broker service for companies, such as Phillip Capital or Dorman Trading. These companies are regulated by at least one top-tier financial authority, like the US CFTC or UK FCA.
What does NinjaTrader‘s introducing broker status mean? It means that your assets and cash are held at the broker, like Phillip Capital, but the platform, the fees, and customer support are provided by NinjaTrader.
Is NinjaTrader safe?
To be certain that a brokerage is safe, we highly advise that you check two facts:
- how you are protected if something goes wrong
- the background of the broker.
How you are protected
In the case of NinjaTrader, we recommend that you check the background of the broker where your assets and cash are held as NinjaTrader might be only an introducing broker.
We recommend NinjaTrader's services for professionals because trading with futures is not covered by investor protection schemes. In addition, there's no negative balance protection. If the balance on your account goes negative, you would be responsible for those losses.
Background
NinjaTrader was established in 2003. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.
We tested NinjaTrader's platform through an account opened with Phillip Capital. Phillip Capital is the one holding your assets and cash in this case. Phillip Capital publishes financial statements and it's regulated by a top-tier authority (USA). These are all great signs of safety.
If you choose to connect one of the following brokerage accounts to NinjaTrader, we recommend checking their backgrounds here:
Deposit and withdrawal
Score: 1.8/5
NinjaTrader‘s deposit and withdrawal services could be better. You can use only bank transfer and check, and there is a high fee for bank withdrawals. As a plus, there is no deposit fee and withdrawals are quick.
| ✅ Pro | ❌ Cons |
| ❖ No deposit fee ❖ Quick withdrawal, less than 1 business day | ❖ Credit/Debit card not available ❖ High withdrawal fee |
Account base currencies
At NinjaTrader, you can choose from the following 4 base currencies: USD, EUR, GBP, AUD.
This selection is average compared to competing brokers.
| Broker | Number of base currencies |
|---|---|
| NinjaTrader | 4 |
| Optimus Futures | 1 |
| AMP Futures | 10 |
Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you won't have to pay a conversion fee.
A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.
Deposit fees and options
NinjaTrader charges no deposit fees.
However, your intermediary bank might charge a fee, if you make an international bank transfer.
US residents can use checks for depositing.
Due to US regulations, US citizens cannot use credit cards to fund their brokerage accounts. They can only use debit cards, where available.
| Broker | Bank transfer |
|---|---|
| NinjaTrader | |
| Optimus Futures | |
| AMP Futures |
A bank transfer can take several business days. You can only deposit money from accounts that are in your name.
NinjaTrader review – Deposit and withdrawal – Deposit
NinjaTrader withdrawal fees and options
NinjaTrader has high withdrawal fees. The bank withdrawals costs $30, and an international bank transfer costs $/€ 40.
US residents can also make a withdrawal by using check. It's free at Dorman Trading, but has a $4 fee at Phillip Capital.
| Broker | Bank transfer |
|---|---|
| NinjaTrader | |
| Optimus Futures | |
| AMP Futures |
You can only withdraw money to accounts in your name.
How long does it take to withdraw money from NinjaTrader? We tested the international bank transfer and it took one day.
Finding out how we can initiate a withdrawal wasn't easy.
- First, open the online withdrawal form. You can find it, if you click on FAQ and select the ‘How do I withdraw funds?' category.
- Then, select the withdrawal method: check or wire.
- Fill out the form. You have to add information, such as your name, account number, and the amount you wish to withdraw. For wire transfers, you have to add the wire information, such as SWIFT code or your bank's name.
- Submit the request. NinjaTrader will send you an email confirming that they initiated the withdrawal.
NinjaTrader review – Deposit and withdrawal – Withdrawal
Account opening
Score: 3.8/5
NinjaTrader‘s account opening is fully digital and the minimum deposit is low, at $400. On the other hand, account verification can take a long time, as much as 4-5 business days, and the account opening process is a bit complicated.
| ✅ Pro | ❌ Cons |
| ❖ Fully digital ❖ Low minimum deposit | ❖ Slow |
Can you open an account?
Yes, you can open an account at NinjaTrader if you live in the United States!
the United States
What is the minimum deposit at NinjaTrader?
The required NinjaTrader minimum deposit is $0.
Account types
You can choose one of the following account types:
- Individual – account is owned by one individual
- Joint – account is owned by one or more individuals
- Corporate/LLC/Trust/Partnership – account is owned by a legal entity
- Retirement – tax-advantaged account, available only for US residents
NinjaTrader Licenses
NinjaTrader has three licenses, ‘Free', ‘Monthly' or ‘Lifetime'. These licenses differ in commission, price, and functionality.
| Free | Monthly | Lifetime/Own | |
|---|---|---|---|
| Commission for e-mini index futures | $1.19 | $0.89 | $0.59 |
| Price | $0 | $99/month | $1,499 one-time fee |
| Core functions (Advanced charting, market analysis, simulated trading) | Yes | Yes | Yes |
| Trader+ (stop-loss/take-profit orders, chart trading, advanced alert system, etc.) | No | Yes | Yes |
| Order Flow+ (volume profile indicator, market depth map, cumulative delta, etc.) | No | No | Yes |
| Besides NinjaTrader brokerage*, can you connect other brokers**? | No | Yes | Yes |
*At NinjaTrader brokerage, you can trade only futures and options on futures. If you choose NinjaTrader brokerage, your money will be held by either Phillip Capital or Dorman Trading. Both of them are US-based brokers.
** You can connect one or more of the following brokerage accounts: Interactive Brokers, TD Ameritrade, Oanda, Forex.com, FXCM, and City Index. In these cases, your money will be held by your existing broker and NinjaTrader will just provide the platform. The advantage of connecting these accounts is that you can also trade with other asset classes, like stocks, spot forex, CFD, etc.
In this review, we tested the Free license and NinjaTrader brokerage through Phillip Capital.
How to open your account
The opening of a NinjaTrader account via PhilipCapital is fully digital and straightforward. However, the approval of the account is rather slow. It took 5 business days for us.
The account opening process is a bit complicated, there are a lot of steps to open your account with NinjaTrader:
- On NinjaTrader's website, choose the asset you would like to trade: futures, options, forex.
- We picked futures. In this case, you can open the account at either Phillip Capital or Dorman Trading.
- After selecting Philip Capital, we were redirected to Phillip Capital's account opening process.
- Choose an account type: individual or corporate.
- Give your personal information, such as name, date of birth, and address. You have to answer a few questions about your financial and employment situation.
- You have to verify your identity and address. National ID, passport, and driver's license are accepted for ID verification, while you can upload utility bill and bank statement as proof of address.
- Answer a few questions about how you want to use your account: for example, for speculation, etc.
- Accept customer and disclosure documents.
After the online registration, we received an email from NinjaTrader to fill out an Options Request Form. We had to say which markets and what positions limits we would like to trade.
NinjaTrader review – Account opening
Mobile app
Score: 4.5/5
At the time of the review, NinjaTrader provided only a desktop platform. We think that a mobile trading platform is a big miss as traders can't follow their positions on the go. Similarly to the web platform, the only way to use a mobile trading platform along with NinjaTrader is to connect an external brokerage account, such as an account with Interactive Brokers or Oanda.
The mobile trading platform is available in several languages.
| English | Spanish | Russian |
| German | Portugese |
Look and feel
NinjaTrader review – Mobile trading platform
Login and security
NinjaTrader provides only a one-step login for its mobile platform. A two-step authentication would be more secure and adding this feature should be high on any company's list of security changes.
You can log in using biometric authentication, which is a convenient feature.
Search functions
The search functions are good.
NinjaTrader review – Mobile trading platform – Search
Placing orders
You can use the following order types on the mobile trading platform:
- Market
- Limit
- Stop limit
- Stop-loss
- Market if Touched (MIT)
- One-Cancel-Other (OCO)
There are also order time limits you can use:
- Good 'til Canceled (GTC)
- Good-Til-Date (GTD)
- Day
NinjaTrader review – Mobile trading platform – Order panel
Alerts and notifications
You can set alerts and notifications on the NinjaTrader mobile platform.
Desktop platform
At the time of the review, NinjaTrader provided only a desktop platform. The only way to use a web trading platform along with NinjaTrader's desktop trading platform is if you connect an external brokerage account, with a broker like Interactive Brokers or Oanda.
NinjaTrader is specialized in providing a trading platform for active traders.
While NinjaTrader 7 is still available, we tested NinjaTrader 8. NinjaTrader 8 incorporates over 500 changes and enhancements, largely collected from client feedback.
The desktop trading platform is available in many languages.
| English | Spanish | Russian |
| German | Portugese |
Look and feel
The NinjaTrader desktop trading platform might be too complex for beginners, but for advanced users, this is where NinjaTrader really shines. Day-traders, who like to trade from the chart will especially like NinjaTrader.
The desktop platform is highly customizable and there are thousands of apps and add-ons in the NinjaTrader Ecosystem to personalize your platform. How is that possible? NinjaTrader offers a standards-based (.NET) programming environment for indicators and strategies that created a vibrant developer community.
The functionality of the platform depends on the license you choose:
- Free license: you can use only the core functions, like advanced charting, market analysis, or simulated trading.
- Lease license: you can also set up automated trading, backtesting, automatic protective stop loss and profit target orders (ATM Strategies) among many other features.
- Lifetime/Own license: you can use Order Flow+ features. It can help you identify buying and selling pressure to confirm market movement in a specific direction as the trading action unfolds through visualization of the order flow.
NinjaTrader review – Desktop trading platform
Login and security
NinjaTrader provides only a one-step login. A two-step authentication would be more secure and adding this feature should be high on any company's list of security changes.
The first time you want to use your account, you have to set your license key and the credential for the connection:
- You can set the license key, if you click on ‘Help' and ‘License Key'.
- You can set the credentials, if you click on ‘Connections' and select ‘Configure'.
Now you can simply log in, if you click on the connection you set up, such as ‘My NinjaTrader Continuum'. After it's activated (becomes green), you'll see your positions and can start trading.
Search functions
The search functions are good.
There are multiple ways to find an asset to trade.
Maybe the easiest way is to click on ‘Tools' and then go to ‘Instrument Lists'. Here, you can compile your own instrument lists or edit the pre-defined lists, like ‘Futures' or ‘Forex'. When you add a new asset to your list, you can search by typing its name or you can search through categories.
NinjaTrader review – Desktop trading platform – Search
Placing orders
The following order types are available on the desktop platform::
- Market
- Limit
- Stop limit
- Stop-loss
- Market if Touched (MIT)
- One-Cancel-Other (OCO)
There are also order time limits you can use on the desktop platform:
- Good 'til Canceled (GTC)
- Good-Til-Date (GTD)
- Day
NinjaTrader review – Desktop trading platform – Order panel
Alerts and notifications
You can set alerts and notifications on the desktop trading platform.
Advanced alerting system is only available in the paid version.
Some example of the available alerts:
- Simple Moving Average Crossover: triggers when the current market price crosses above a 20-period Simple Moving Average.
- New Intraday High: triggers when a new High is formed intraday.
- Price and Fibonacci Retracements: compares the current market price to the 50% line drawn by a Fibonacci Retracements Drawing Tool.
Portfolio and fee reports
NinjaTrader has clear fee reports.
Using the ‘Trade Performance' window, you can see your net profit or the commissions you paid. We also liked that the platform will calculate Sharpe ratio, Sortino ratio and the Ulcer index, among many others.
Product selection
Score: 2.1/5
At NinjaTrader Brokerage you can trade only futures and options on futures. To trade popular asset classes like stocks or spot forex, you have to connect your existing brokerage account to NinjaTrader.
NinjaTrader‘s asset classes and the individual assets within each asset class lag behind other brokers.
| Broker | Stocks |
|---|---|
| NinjaTrader | |
| Optimus Futures | |
| AMP Futures |
This selection is average compared to competing brokers.
Options
NinjaTrader gives access to a few options markets. In these markets, you can trade only options on futures.
| Broker | Options markets (#) |
|---|---|
| NinjaTrader | 4 |
| Optimus Futures | 14 |
| AMP Futures | 10 |
This selection falls behind competing brokers. Both Optimus Futures and AMP Futures offer more option markets to trade on.
Options on futures cover the following exchanges and products:
- CME: Equity Indexes, Interest rates, Agricultural, FX
- NYMEX: Energies
- CBOT: Dow E-mini, Interest rates, Agricultural
- COMEX: Metals
Futures
NinjaTrader has an average futures selection.
| Broker | Futures markets (#) |
|---|---|
| NinjaTrader | 7 |
| Optimus Futures | 14 |
| AMP Futures | 10 |
This selection falls behind competing brokers. Both Optimus Futures and AMP Futures offer more futures markets to trade on.
You can trade ~70 assets on these markets, covering stock indices, bonds, forex, and commodities.
The following exchanges are available for futures trading:
- CME: Chicago Mecantile Exchange
- CBOT: Chicago Board of Trade
- COMEX: Commodity Exchange Inc.
- NYMEX: New York Mercantile Exchange
- EUREX: futures and options market, which deals primarily with Europe-based derivatives
- ICE: Intercontinental Exchange
- ICE UK
The CME, CBOT, NYMEX and COMEX exchanges are part of the CME group. Eurex is part of the Eurex Group and is owned by Deutsche Börse AG.
FAQ
We recommend NinjaTrader for active traders focusing on futures.
Below you can find links to all aspects of NinjaTrader in this comprehensive collection.
Lower fees, lower costs?
We detailed this in our NinjaTrader fees article.
What about the minimum deposit?
Our ultimate guide to the NinjaTrader minimum deposit is updated regularly.
How to start your NinjaTrader account?
Look no further than our evaluation of the NinjaTrader account opening.
Is the quality of customer service satisfactory?
All you need to know about the NinjaTrader customer service.
Legit or scam?
Is NinjaTrader legit features all the key aspects you need to look at to see if a broker is safe and legit.
Free or premium? Or both?
A glance at actual costs and whether NinjaTrader is really free.
Is this broker good for beginners?
We checked it in Is NinjaTrader good for beginners.
Should you buy your silver bullets on NinjaTrader?
Research for silver bugs in the Silver buy on NinjaTrader guide
I want to trade options, are they available at NinjaTrader?
We explored the topic in Can you trade options on NinjaTrader?
What is the minimum account balance at NinjaTrader?
Check out the current account balance requirements at NinjaTrader in our What is the minimum account balance at NinjaTrader article.
Looking for commission and fees data for NinjaTrader?
We collected them in NinjaTrader commission and fees.
How do you withdraw money from NinjaTrader?
We tested it and collected the options and costs in How to withdraw money on NinjaTrader.