Forex Brokers with NinjaTrader

Richard Montana | November 16, 2022

NinjaTrader is a third-party platform provider you can use to trade on accounts with forex brokers that support the NinjaTrader platform. Its known for having advanced charting options, an abundance of market analysis tools and support for automated strategy development. With over 100 technical indicators and lots of customisation options available, it serves forex traders very well as an advanced and modern trading platform. You can simply connect your account and then take advantage of the award-winning NinjaTrader charting software. They also provide an in-house brokerage if you prefer to trade directly through them.

What is NinjaTrader?

Founded in 2003, NinjaTrader has evolved into an industry leader supporting over 500,000 traders around the globe with best-in-class technology, deep discount commissions and world class support. The NinjaTrader Group, LLC together with its subsidiaries provides award winning trading software and brokerage services to active traders whether that is directly or via third-party integration.

NinjaTrader is a next generation trading platform that has been developed using modern design techniques, allowing it to achieve greater performance and flexibility. NinjaTrader is free to use for advanced charting, market analytics, backtesting and trade simulation. You can use it for all of your manual and automated forex trading strategies.

NinjaTrader

NinjaTrader

Market Analysis

You can conveniently monitor the forex market and all of your favourite currency pairs in real-time based on your predefined conditions to quickly uncover opportunities. Customize lists through a variety of data points including price and time data, PnL, and even indicator values. Trigger alerts or display graphs when your pre-defined conditions are met.

Advanced Charting

Visualize the forex markets through fully customisable and actionable charts. The platform includes 100s of indicators with various chart styles and timeframes to aid in your technical analysis. There are powerful drawing tools easily accessible to measure the market with precision. You can load corresponding markets on a single chart to identify developing patterns with speed and ease

Automated Trading

NinjaTrader provides multiple solutions to automate forex trade execution with no programming needed, including attaching orders to indicators for automated order execution. If you have an idea for an algorithmic forex strategy in mind, chances are you can build it using NinjaTrader’s modern C# based trading framework.

Advanced Trade Management

Integrated directly into the FX Board, Advanced Trade Management strategies can help to eliminate emotion through the use of pre-configured rules and conditions. They allow you to automatically submit stop loss and profit target orders in milliseconds while managing trade exits.

Order Entry

NinjaTrader provides multiple order entry interfaces designed for fast order execution. You can conveniently place orders on charts, through the FX Board or through customizable Hotkeys. There are OCO orders to protect an open position. When one fills, the other is automatically cancelled.

Can you trade forex with NinjaTrader?

Yes, NinjaTrader empowers forex traders with industry leading charting, analysis and automation capabilities. Forex traders can use this top-class trading platform to uncover hidden opportunities and optimize order execution using some of the most advanced trading technologies.

You can even trade for free in NinjaTrader’s simulation environment, which is designed to mimic live trading as closely as possible. For those new to the markets, paper trading futures and forex in real-time using live market data provides valuable practice.

How does NinjaTrader work?

That NinjaTrader software provides you with data charting, customization and trading tools. You then select a brokerage or market data feed to work with. NinjaTrader connects to that service, and you use this trading software to see your third-party brokerage’s data and order trades.

MetaTrader vs NinjaTrader

MetaTrader are NinjaTrader extremely popular platforms for trading that allow performing multiply kinds of analysis, using various kinds of charts, timeframes and indicators. NinjaTrader is a great platform for making deals with futures, while MetaTrader is perhaps the number one solution for online forex trading.

MetaTrader is used by millions of forex traders all over the globe. It is also packed with trading tools for in-depth market analysis and supports automated trading via expert advisors (EAs).

There are many MetaTrader brokers which is advantageous because it means you have lots more choice should you switch brokers down the line compared to NinjaTrader which is much more limited. I still use the MetaTrader 4 platform and have done so for over a decade. I have never felt then need to change to anything else as it can handle all of my manual and automated forex systems.

However, NinjaTrader supports more order types which can be a huge advantage for scalpers, especially given that the platform also gives the true market depth. The MetaTrader 5 platform also has depth of market pricing but NinjaTrader edges it when it comes to technical analysis tools.

If you are a forex trader looking to run complex trading strategies, then you might want to give serious consideration to NinjaTrader. On the other hand, if you are a novice trader that is just looking to buy and sell currency pairs, I think MetaTrader is more user-friendly.

Best forex brokers with NinjaTrader

There are not many forex brokers who support the NinjaTrader platform, but they do provide a brokerage service themselves as you can see from out NinjaTrader Review. The NinjaTrader brokerage supports futures, options on futures, and forex trading.

They are also integrated with some of the best forex brokers in the industry. If you want to trade forex on the NinjaTrader platform, you can go through one of NinjaTrader’s supporting brokers, including those in the table below.

Broker
Rating
Regulated
Min. Deposit
Founded
Max. Leverage
1.
City Index Review

ASIC, FCA, MAS

$100

1983

1:200

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
2.
Forex.com Review

ASIC, CIMA, CFTC, FCA, FSA, IIROC, JFSA, NFA, SFC

$100

2001

1:50

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
3.
Interactive Brokers Review

ASIC, CFTC, FCA, IIROC, NFA, SFC

$1

1978

1:200

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
4.
TD Ameritrade Review

FINRA, SEC, SFC

$0

1975

N/A

All investments involve risk, including loss of principal. Past performance does not guarantee future results.
5.
FXCM Review

ASIC, CySEC, FCA, FSCA, ISA

$50

1999

1:400

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
6.
NinjaTrader Review

CFTC, NFA

$0

2003

N/A

Futures, foreign currency, and options trading contains substantial risk and is not for every investor.

Advantages of NinjaTrader brokers

  • Award-winning professional charts
  • Highly sophisticated trading interface
  • Fully customisable platform layouts
  • Manual and automated forex trading
  • Top class trading conditions
  • Advanced analytical tools
  • Third party addons available
  • Excellent support

Disadvantages of NinjaTrader brokers

  • Not many forex brokers supported
  • Quite complex for beginners
  • Can take time to setup

Conclusion: should I use a NinjaTrader broker?

If you want to trade forex with some of the best brokers in the industry using a professional trading platform, then it doesn’t really get much better than NinjaTrader. The NinjaTrader platform is ideal for active forex traders who want access to plenty of technical analysis tools. The platform boasts excellent charting, real-time market analysis, fully customisable technical indicators, Chart Trader (a chart-based order entry tool), along with a plethora of handy apps and add-ons from 3rd-party developers.

About the Author

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Richard Montana
Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others.

Review Methodology

For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs. You can read more about our review process.


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