MetaTrader 5 (MT5) vs NinjaTrader

Category: Trading Platforms | Author: Trading Brokers | Date: May 7, 2024

Platforms for trading that allow doing several types of analysis utilizing different types of charts, timeframes, and indicators include NinjaTrader and MetaTrader. Both programs are easy and straightforward. Although both MetaTrader and NinjaTrader can be used for several foreign markets, each program is more suited to a certain market. As a result, NinjaTrader is a fantastic instrument for negotiating futures contracts, whereas MT5 is the best platform for trading foreign exchange.

What is MetaTrader 5 (MT5)?

Modern multi-functional platform MT5 features extensive technical tools, copy trading, and auto trading systems. Compared to MetaTrader 4, MetaTrader 5 is built to support advanced trading across a wider range of asset classes. It is packed with features, has cutting-edge tools, and provides excellent execution. The professional trader may access more indicators, market orders, and instruments with MT5, which gives them all they need to succeed in today’s volatile markets. However, the comparable design guarantees a seamless transition from the MT4, the market standard.

MetaTrader 5 (MT5) Platforms

MetaTrader 5 (MT5) Platforms

The MetaTrader 5 multi-asset platform has been used by successful traders from around the world for trading forex, exchange instruments, and futures. The platform provides enhanced capabilities for technical and fundamental analysis in addition to sophisticated financial trading features. Through the use of trading robots and trading signals, MetaTrader 5 may also execute trades automatically. The platform is accessible from any device via the web in addition to its desktop and mobile versions.

What is NinjaTrader?

The business that created the NinjaTrader platform is called NinjaTrader LLC. The business was established in Denver in 2004. (USA). Day traders are the main users of NinjaTrader, one of the greatest stock analysis software platforms. The options are seemingly limitless, and the spectrum of functions is tremendous. However, this also means that people, especially those who are new to trading, can easily become lost in the details.



For busy traders who need a variety of technical analysis tools, the NinjaTrader platform is perfect. The platform offers top-notch charting, real-time analysis, programmable technical indicators, Chart Trader (an order entry tool based on charts), and numerous of add-ons and apps created by third parties.

Several user-friendly order entry interfaces are available to you, including Chart Trader, a fantastic tool that enables you to enter and manage trades right from a chart (NinjaTrader was one of the first platforms to offer this).

The platform supports all common order types, including advanced OCO (one cancels other) orders as well as market, limit, stop market, and stop-limit orders. If you’re interested in automatic trading, NinjaTrader’s ATM Strategies offer semi-automated options for managing positions for discretionary traders. As an alternative, you can fully automate a strategy utilizing NinjaTrader’s C#-based trading framework or a “point and click” interface for non-programmers.

MT5 vs NinjaTrader: which one should I use?

As both trading platforms offer their own unique features, each one has both pros and cons.

NinjaTrader Pros

  • Free demo mode and live mode for reasonable price
  • Plenty of brokerage offerings
  • Based on C# with its numerous advantages
  • Multiply types of charts
  • Good technical support on the related forums

NinjaTrader Cons

  • The number of supported brokers is significantly lower than in MetaTrader
  • Does not contain datafeed
  • Programming requires more time than in other similar platforms
  • Needs approval for using all third party products

MetaTrader Pros

  • Thousands brokers work with MT4
  • Absolutely free: both demo and live accounts are free to open
  • Plenty of different commercial features, such as Expert Advisors and Indicators
  • All the needed options are ready to use once you installed the app

MetaTrader Cons

  • Allows repainting indicators
  • MQL restrictions to trade related programming only
  • Does not record of bid and ask in the backtester

Conclusion: is NinjaTrader better than MT5?

With its straightforward design and practical features, MetaTrader provides a wide range of alternatives for both novice and experienced traders. Additionally, you can begin your trading career with a demo account, gain some expertise, and then begin trading with real money.

Great-looking charts with extensive customization and utility are available with NinjaTrader. Active forex and futures traders who want a reliable technical analysis platform are the target audience for the platform and brokerage. High-end pros can use NinjaTrader because of its intricate charts and capabilities.

NinjaTrader and MetaTrader both provide excellent functionality and quick performance. Nevertheless, you will have to make a decision based on your knowledge and skill set.

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