NinjaTrader LLC is the company behind the NinjaTrader platform. The company was founded in 2004 and is located in Denver, form. NinjaTrader is the current trading platform, Kinetick is a data feed, and NinjaTrader Brokerage is a brokerage solution for forex and futures traders.
So you can get everything from an account, trading software, and data feed to an online brokerage solution from a single source. You’ll find out which combination I prefer and why a little later. With innovative and groundbreaking new functionalities, Version 8 will make private investors even better prepared for the daily challenges of the stock market and foreign exchange trading.
NinjaTrader has integrated stock screener and stock scanner functionalities along with programming options in C# and automated trading features. NinjaTrader is intended primarily for active day traders who are fearless in writing a few lines of program code in C#.
While the standard functionalities are indeed very well implemented, NinjaTrader can only develop its full power with the programming of individual trading strategies. As you know, I am a friend of automation and structured processes.
And this is where I see the particular strength of trading software. Because you can ultimately create fully automated trading systems, they trade up and down the markets for you according to your specifications.
NinjaTrader Indicators: Day Trade Like a Boss
NinjaTrader 8
NinjaTrader 8 is designed specifically for active traders who buy stocks, trade futures, and trade the forex market and favor one-click solutions and automated exchange transactions.
With more than 100,000 users, 1,000+ add-ons, and 600+ app developers, NinjaTrader is one of the world’s leading platforms. They have already won numerous awards and continue to develop their trading platform. One reason for its great popularity is the open-user framework.
This means nothing more than that it is by no means a closed system, but individual components such as indicators and strategies can be developed and used. The integration of third-party tools is also possible. Thus, software users can create their needles, drawing tools, layouts, and partially automated systems.
Features
NinjaTrader is an excellent addition to the trading tools of an online broker. This includes advanced charting functions, market analyses, the development of automated trading strategies, backtesting, market analytics, various optimization functions, and trading simulations.
Charts
Interested investors can test NinjaTrader 8 intensively and even place real-time simulated orders on the stock exchanges. Only traders who want to execute their live trades with a real money account need to buy a license or use the paid leasing model.
However, until then, it is possible to work efficiently without investing a single dollar in the trading platform. A clear plus. NinjaTrader can be used without restriction for simulated trading under natural market conditions (paper trading) to develop trading strategies.
The current version now also has a good trading journal that leaves nothing to be desired and has all essential vital figures firmly integrated. This makes the creation of a trading journal even easier.
Charting market data on your mobile device and mobile trading are currently not supported. We have to wait for a couple of reviews once the app, which is now in development, is published.
Trading Strategies
Whether day trading, swing trading, scalping, FOREX, futures, or equities, discretionary or automated, NinjaTrader 8 offers the perfect mix for every trader. The only thing that needs to be added is a self-learning functionality based on artificial intelligence.
With more than 1,000 apps and add-ons, the platform can be expanded according to your preferences and ideas. Private investors are supported, particularly by the free version, when learning to trade. This is because trading strategies can be created and tested with the integrated paper trading functionality.
A further advantage: The platform can be used free of charge for almost the entire range of functions. As soon as you are ready for live trading, various options are available for using the software, e.g., for order transfers to brokers.
As mentioned, the exchange software can be rented or purchased for unrestricted use. For investors who want to use NinjaTrader 8 Live over a long period, the Lifetime license offers the best price-performance ratio.
NinjaTrader also provides advanced features and tools that traders frequently seek, like optional order flow analysis capabilities, which can be considered an advanced charting feature. Hundreds of add-ons are provided within the community.
Kinetick
Besides, Kinetick provides a data feed for stock quotes that enables the unrestricted use of end-of-day data within the NinjaTrader 8 platform. (By the way, End of Day means that the smallest time unit is “days” and that hourly or minute charts, for example, cannot be displayed.)
The trading platform can be connected to the free Kinetick data with just a few mouse clicks. Once configured, NinjaTrader can be started simultaneously via the Kinetick feed, including the stock exchange prices.
I received feedback from a disappointed customer that he got charged for using Kinetick while thinking that the EOD data was accessible. There are two things to consider before taking action. First, you do not need a subscription to connect NinjaTrader to the free EOD data from Kinetick. You connect to Kinetick EOD data within your NinjaTrader software, and that’s it.
If you subscribe to the Kinetick data via their website, you will be charged for the service you chose, and you will not get your money back if you subscribed by mistake. In other words, subscribing to Kinetick makes sense if you want to use intraday data.
Kinetick Alternative
Here is a clever alternative for those who are okay with using NinjaTrader 7. You can connect NinjaTrader 7 to your brokerage account at TradeStation and use any data you have at TradeStation. That’s cool since intraday data doesn’t cost anything if you open an account with TradeStation. But there are two downsides too.
First, only NinjaTrader 7 can be used, and NinjaTrader 8 no longer supports that connection. Also, you need to be aware that you cannot use the TradeStation data feed to trigger live trades within NinjaTrader. As a result, this solution is an excellent choice for the trader who wants to test and develop strategies on a limited budget without having to pay for an exchange data subscription.
Strategy Builder
The further development of the new Strategy Builder from NinjaTrader Broker enables less experienced trading beginners to design and develop new strategies without programming knowledge. A fully automated trading strategy can be created and designed by inexperienced traders via point-and-click with comparatively little effort.
However, the best results are only obtained with individual programming, even if the advertising sometimes suggests something different. The most significant advantage of the strategy builder is that you can look at the source code afterward, which can serve as a good foundation for your programming.
Discover trade ideas
The visualization with the chart and the market analysis from long-term historical price data does not necessarily make the trading software unique. Still, it is one of the most attractive trading tools for day traders.
Although the use of historical data as the basis for forecasting future price developments is highly controversial, technical analysis, in particular, is still often the first choice for private investors. Manual trading cannot make money with technical analysis but can with automated procedures.
The new backtest engine is advanced compared to the old NinjaTrader 7 version speed. Hundreds of trading instruments can be analyzed in real-time, alarms can be defined, and the new FX Board also offers modern concepts for forex trading. There are outstanding possibilities for individual visualization and even the opportunity to trade directly from the chart (deal through the diagram).
Backtesting Functionality
Looking back into the past, creating a system for use in current markets is possible. NinjaTrader 8 is a construction kit with many valuable trading tools. There are only a few limits to developing indicators and strategies, which an experienced system developer often recognizes.
Indicators, trading applications, charts, drawing tools, and automated trading systems can be installed or even independently developed and extended. Assuming you are familiar with the programming language C#, only through programming will you be able to extract everything from the software and close the gap with institutional investors’ capabilities.
Trade Simulation
Everyone knows the term “paper trading.” But paper is very patient. In NinjaTrader, strategies can be tested under actual market conditions in real-time before even a cent of risk capital is invested! Numerous options are available, and they are an excellent way to trade, such as in a demo account.
On the one hand, traditional buying and selling can be done from the chart. On the other hand, partially and fully automatic trading strategies can also be tested. What I find astonishing is that you can display the trades on the chart. A quick chart export and you have your perfect trading journal. In the chart itself, you can also add and save text annotations.
Tradeable Markets
NinjaTrader offers to transmit orders in the live system via API to brokerage accounts. The following asset classes can be traded:
- Stocks
- Futures
- Forex
- Options
- CFD’s
The primary target group is day traders, but swing traders and buy-and-hold investors can also have fun with the software. You can buy and sell stocks, trade currencies up and down, or trade futures on the CME or EUREX. All this is possible. Manual, semi-automated, and fully automated
NinjaTrader Data Providers
Unfortunately, it is only sometimes done with the NinjaTrader software itself. That means additional costs if you want to use a fast, real-time data feed for your day trading. Various data feed providers can be used for the market data connection.
Regarding saving money, NinjaTrader has the edge with its in-house data from Kinetick. At least if you need extensive stock market data (CME, EUREX, etc., and Level II). However, it would be best if you considered in advance which markets you would like to trade in and whether day trading is the right thing for you.
Because the data feed costs can quickly reach more than 100 dollars per month, with Kinetick, the in-house data service of NinjaTrader, you can use the end-of-day data, including an extensive data history, for free. This is, of course, only interesting if you are interested in something other than day trading.
Combined with the free version, this is a complete package that you can only get around with. After all, using state-of-the-art technologies free of charge is not a matter of course, even though it is a deliberately chosen concept of the software provider.
SpyBot SuperTrend Indicator for NinjaTrader 8
Plans, Costs, and Pricing
As mentioned several times, NinjaTrader can be used free of charge if no broker is connected to the software via API-Connect. Since NinjaTrader has its most significant strengths in automation and a broker connection is mandatory, you come to the point where you have to think about the license model sooner or later. A total of 3 (+1) different license models are offered.
“Purchase” with a one-time fee of $1,099 or 4 installments of $329.
“Rent” with a quarterly ($225), semi-annual ($425), or annual leasing fee ($720).
“Free of charge” for free use without live trading functionality
NinjaTrader offers its customers live trading for free when opening an account with NinjaTrader Brokerage. It is questionable whether one does oneself a favor by tying oneself to a specific broker to avoid license fees. But I thought you should know that.
At that time, I decided to buy the lifetime license once, and since version 7, I can use all versions without restrictions. The rental model was never an option for me because it would be disproportionately expensive for us in the long run. By the way, I used the free version until I knew exactly what I wanted to do with the program. A binding agreement with a single broker would be out of the question for me. As a result, I would still opt for the model “purchase” today.
Free Trial | Coupon Code
NinjaTrader can be used entirely free of charge with the Kinetick data feed for trading strategy development, simulated trading, and your first steps with this trading software.
For trading in smaller time frames, you need a real-time data feed, and for fast order execution, trading from the trading software is a significant advantage. But you have to pay for this advantage, not only with the license for the trading software but also with monthly fees for the stock exchange prices (data feed). It would be best to consider this in your business case once you switch from the demo account to the live trading account.
Community and Customer Service
Customer service takes care of your requests while you can still ask your questions within the community. Whatever trading strategy you use, active traders and beginners will find answers by contacting customer service and the community.
Provider Checklist
Founded: 2003
Number of users: >100,000
Check the following company address: NinjaTrader LLC, 1422 Delgany Street, Suite 400 Denver, CO 80202 | USA + 312.262.1289
Free trial: Yes, there is a free version for simulated trading.
Free resources: Yes, free EOD-Data, YouTube, and guiding assistance.
Price range: from $0 up to $1,099 for the lifetime license
Free NinjaTrader Trading Indicators
Ninjacators offers a range of trading indicators for NinjaTrader. Those indicators may be combined with the free NT8 version and Kinetick data feed. Please read the detailed Ninjacators review for more insights.
Who Is NinjaTrader Suitable For?
NinjaTrader is one of the few tools giving day trading beginners an excellent chance to start effectively and efficiently. Why? Because it can be used for free and you get a good understanding of how financial markets work,
Trading beginners will have a hard time initially due to the enormous range of functionalities. The trading platform is easy to use as soon as you have worked with NinjaTrader for a few hours. And if you still need to get a real-time feed, you can also take a closer look at the in-house Kinetick data feed.
NinjaTrader is best for day traders, but investors will enjoy free resources and end-of-day charting. However, for investors relying on technical analysis, TradingView is an intelligent alternative too.
NinjaTrader Review Summary
If you’ve made it to the bottom line, there are almost 3,500 words behind you. I hope I avoid as much technical jargon as possible and that you have a solid impression of NinjaTrader 8 and my experience with the trading software.
Futures trading can be done using the NinjaTrader platform, but other assets like stocks are also supported.
I especially like that the trading software can be used almost entirely free of charge. Perfect is also the fact that different data feeds can be connected for free.NinjaTrader 8 is a thoroughly excellent trading tool. However, new standards still need to be set.
As with MetaTrader, NinjaTrader can play to its exceptional strengths with expert advisors. In other words, with individually programmed systems. To use these strengths, you need a lot of experience with C# or to be a good programmer. I think only a little of connectable third-party tools.
I certainly don’t want to pay for a “black box” whose content I don’t understand. There is nothing against installing NinjaTrader on your PC and testing the free version extensively.
As soon as you have developed profitable trading strategies and these have been verified by backtesting and forward testing, you can still invest money and buy a license. However, keep your money together before that and only invest if you can earn more than your investment.
With one-time costs of $1,099 plus several hundred dollars per month for stock market prices, you should also have significant buying power within your brokerage account. Otherwise, this investment is not worth it.
For me, trading ideas is the better alternative. You can learn C# to develop trading strategies. You can connect to the best brokerage, Interactive Brokers, which provides exceptionally low-cost trading for stocks and futures.
Trading strategies are evaluated automatically daily, and tons of pre-configured strategies are available. A good starting point is the free Trade Ideas trading chat room.
NinjaTrader Brokerage
Ninja Trader’s brokerage services can be used for futures and forex trading. Futures and forex traders might consider opening an account to directly connect trading systems from NT7 and NT8 with the brokerage account.
Futures traders hold their accounts with one of leading futures brokers, like Dorman Trading or Phillip Capital. In contrast, forex traders chose between brokerage accounts at FXCM in Europe and the UK and Forex.com in the United States.
The commission structure for trading futures is competitive. The minimum account deposit starts at $400; the margin for micros is $50 per contract, and for E-Mini, $500 per contract. Active traders consider the NinjaTrader platform. The order execution speed of futures contracts is usually fast since the futures market is highly liquid and operates independently from the medium used.
Traders looking for demo accounts can directly use the free platform version to test all advanced features, technical indicators, the mobile app for mobile trading, order types, and market analysis tools.
Various other reviews confirm that using the trade simulation within the NinjaTrader trading platform is a significant advantage before going live. And if someone wants to code a strategy, he can do it on his own or use the developer community to find the right person for the job.
Make sure to check the site of the Commodity Futures Trading Commission if you have any open questions about regulatory aspects.
NinjaTrader Review: Questions and Answers
Is NinjaTrader free?
NinjaTrader is free to use for simulated trading. Once trading systems are connected via the NinjaTrader API with a brokerage account, additional fees need to be paid.
What is the NinjaTrader platform?
NinjaTrader is a robust trading tool for beginners and an outstanding one for traders who need to write their trading strategies with NinjaScript. The API with Interactive Brokers works well.
How do I use NinjaTrader?
Traders can download NinjaTrader 8 here: http://ninjatrader.com/. The software has to be installed on a personal computer. The software can be installed on Windows systems only.
Can you use NinjaTrader on a Mac?
NinjaTrader only runs on Windows systems. Using a Mac makes it necessary to use a Windows-based partition to run NinjaTrader properly on that partition.
Which brokers support NinjaTrader?
Brokers like Interactive Brokers support NinjaTrader. They cooperate with Phillip Capital and Dorman Trading for trading futures and FXCM and Forex.com for forex trading.