Best Ninja Trader Forex Brokers
Written by BrokerNotes.co
The NinjaTrader Trading Platform
NinjaTrader is a retail trading platform which is owned by NinjaTrader LLC, an American-based company. NinjaTrader LLC is a member of the National Futures Association (NFA #0339976), providing brokerage services to traders of futures and forex products. The NinjaTrader platform is presently in its 8th version.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.Best Forex Brokers for NinjaTrader
The NinjaTrader platform can be used to trade CFDs, stocks, forex as well as futures contracts. The NinjaTrader platform is used by several popular brokers. These are:
-
FOREX.com
- 9.3/10 Overall
-
FXCM
- 8.5/10 Overall
- Interactive Brokers - 9.7/10 Overall
- TD Ameritrade - 9.5/10 Overall
Overall Rating
Minimum Deposit
Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.
| Average Spread EUR/USD - Standard | 1.0 |
| All-in Cost EUR/USD - Active | 1.0 |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | No |
| Visa/Mastercard (Credit/Debit) | Yes |
| Year Founded | 1999 |
| Publicly Traded (Listed) | Yes |
| Bank | No |
| Tier-1 Licenses | 4 |
| Tier-2 Licenses | 2 |
| Forex Trading (Spot or CFDs) | Yes |
| Mobile Trading - Forex or CFDs | Yes |
| Tradeable Symbols (Total) | 5500 |
| Forex Pairs (Total) | 91 |
| Bitcoin | Yes |
| Virtual Trading (Demo) | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
| Proprietary Platform | Yes |
| Social Trading / Copy Trading | No |
| Charting - Indicators / Studies (Total) | 203 |
| Android App | |
| Apple iOS App | Yes |
| Education (Forex or CFDs) | Yes |
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | Yes |
| Economic Calendar | Yes |
Overall Rating
Minimum Deposit
Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.
| Average Spread EUR/USD - Standard | 1.38 |
| All-in Cost EUR/USD - Active | 1.38 |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | Yes |
| Visa/Mastercard (Credit/Debit) | Yes |
| Year Founded | 1999 |
| Publicly Traded (Listed) | Yes |
| Bank | No |
| Tier-1 Licenses | 3 |
| Tier-2 Licenses | 3 |
| Forex Trading (Spot or CFDs) | Yes |
| Mobile Trading - Forex or CFDs | Yes |
| Tradeable Symbols (Total) | 440 |
| Forex Pairs (Total) | 41 |
| Bitcoin | Yes |
| Virtual Trading (Demo) | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | No |
| Proprietary Platform | Yes |
| Social Trading / Copy Trading | Yes |
| Charting - Indicators / Studies (Total) | 59 |
| Android App | |
| Apple iOS App | Yes |
| Education (Forex or CFDs) | Yes |
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | Yes |
| Economic Calendar | Yes |
Overall Rating
Minimum Deposit
Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.
| Average Spread EUR/USD - Standard | 0.6 |
| All-in Cost EUR/USD - Active | 0.6 |
| PayPal (Deposit/Withdraw) | No |
| Skrill (Deposit/Withdraw) | No |
| Visa/Mastercard (Credit/Debit) | No |
| Year Founded | 1977 |
| Publicly Traded (Listed) | Yes |
| Bank | No |
| Tier-1 Licenses | 8 |
| Tier-2 Licenses | 1 |
| Forex Trading (Spot or CFDs) | Yes |
| Mobile Trading - Forex or CFDs | Yes |
| Tradeable Symbols (Total) | 8500 |
| Forex Pairs (Total) | 90 |
| Bitcoin | Yes |
| Virtual Trading (Demo) | Yes |
| MetaTrader 4 (MT4) | No |
| MetaTrader 5 (MT5) | No |
| Proprietary Platform | Yes |
| Social Trading / Copy Trading | No |
| Charting - Indicators / Studies (Total) | 128 |
| Android App | |
| Apple iOS App | Yes |
| Education (Forex or CFDs) | Yes |
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | Yes |
| Economic Calendar | Yes |
Overall Rating
Minimum Deposit
Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.
| Average Spread EUR/USD - Standard | 1.25 |
| All-in Cost EUR/USD - Active | 1.25 |
| PayPal (Deposit/Withdraw) | No |
| Skrill (Deposit/Withdraw) | No |
| Visa/Mastercard (Credit/Debit) | No |
| Year Founded | 1955 |
| Publicly Traded (Listed) | Yes |
| Bank | Yes |
| Tier-1 Licenses | 4 |
| Tier-2 Licenses | 0 |
| Forex Trading (Spot or CFDs) | Yes |
| Mobile Trading - Forex or CFDs | Yes |
| Tradeable Symbols (Total) | 0 |
| Forex Pairs (Total) | 73 |
| Bitcoin | Yes |
| Virtual Trading (Demo) | Yes |
| MetaTrader 4 (MT4) | No |
| MetaTrader 5 (MT5) | No |
| Proprietary Platform | Yes |
| Social Trading / Copy Trading | No |
| Charting - Indicators / Studies (Total) | 360 |
| Android App | |
| Apple iOS App | Yes |
| Education (Forex or CFDs) | Yes |
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | Yes |
| Economic Calendar | Yes |
- NinajTrader Brokerage services
- Forex.com (StoneX Financial Ltd)
- FXCM
- Interactive Brokers
- TD Ameritrade
- MB Trading (offers NinjaTrader 7 only).
Unlike other trading platforms of its kind, the NinjaTrader is not entirely free. There is a free version that offers basic functionality, but the advanced versions of the NinjaTrader platform come with a price.
Obtaining the NinjaTrader Platform
The NinjaTrader platform can be obtained in the following ways:
- Through an outright purchase of a lifetime license for $999 or 4 monthly payments of $299.
- Through a lease arrangement. It costs $600 per annum, $330 every 6 months or $180 per quarter.
- Free, by opening an account with the NinjaTrader brokerage.
There are ways of securing the lifetime license as well as the lease for reduced prices. For instance, by opening and funding a NinjaTrader brokerage account with the sum of $1000, it is possible to get the lifetime license for $799 (a savings of $200). For those who use the same deposit funding option, they get to pay $180 less, which in effect is three months of free usage on the quarterly lease.
NinjaTrader Available Formats
There are several versions of the NinjaTrader retail forex platform. These are as follows:
- NinjaTrader webtrader
- NinjaTrader desktop
The desktop version of its platform can be downloaded and set up to work on a Windows PC or laptop. The NinjaTrader downloadable platform is presently in its 8th version. Traders can check out Mac friendly platforms here.
NinjaTrader Installation Guide
Here is how to download and install the NinjaTrader platform. In order to do this, you need to have the following minimum computer requirements:
- Windows Software: Windows 7, Windows 8, or Windows 10
- Minimum screen resolution of 1024 x 768
- Minimum P4 Processor or higher
- 2GB RAM
- Microsoft .NET Framework 3.5 (pre-installed on most PC’s). If not available the setup file will automatically prompt you to download it, after which the download of NinjaTrader can be continued.
Download and install the NinjaTrader setup file. You have to grant NinjaTrader permission to access the internet so as to bypass the firewall settings on your computer.
You can proceed to Platform Activation for Live Trading. However, if you registered for the free simulation version, you do not need to do this. Obtain your license key to activate live trading from your email to complete your purchase.
Start NinjaTrader, select the menu Help > License Key within the Control Center and enter your license key into the space provided. Once the installation of the NinjaTrader platform files is complete, read the Connection Guide to setup the connection to your broker or market data feed service provider.
Trading With The NinjaTrader Platform
In this section, some of the basic functions of the NinjaTrader platform will be explored. The basic functions, especially those used for the core aspects of trading will be looked at, as well as some new features of the NinjaTrader8 platform.
Order Entry
There are several windows for Order Entry which can be opened by left-clicking your computer mouse button on the “New” menu tab, located within the NinjaTrader Control Center. Once this is clicked, the name of the Order Entry window can be clicked.
The basic entry order windows are:
- Basic Entry
- Chart Trader
- FX Pro
- FX Board
- Order Ticket
- SuperDOM
The interfaces for the Basic Entry, Chart Trader, Order Ticket, and SuperDOM can be used to trade any of the asset classes listed on NinjaTrader. However, the configuration of the order entry windows aims to assign each one to specific asset classes. For instance, the order entry windows which are built specifically to trade forex assets are FX Pro and FX Board windows. Let us now focus on the order entry windows built for forex and CFDs; the FX Pro and FX Board windows.
FX Pro Overview
To open the FX Pro window, click on the “New” menu within the NinjaTrader Control Center, then select the “FX Pro” menu item.
The image below shows each of the 5 sections in the FX Pro window:
- Order Grid
- Optional Level II panel
- Position and Level 1 (current inside market) display
- Action Buttons
- Order entry and ATM Strategy management
The FX Pro order entry window is comprised of several components: the Order Grid, the Level II panel (optional), position and level 1 display, as well as order entry and ATM Strategy management.
Quick Orders
It is also possible to execute trade orders using Quick Buttons. The Quick Order buttons are displayed in the snapshot below:
- The “Buy Bid” button submits a Buy Limit order at the best bid price.
- The “Sell” button submits a Sell order based on the current Order conditions.
- The “Buy” button submits a Buy order based on the current Order conditions.
- The “Sell Ask” button submits a Sell Limit order at the best Ask price.
Custom Orders
It is also possible to place customized orders by using the order parameters provided below:
- Choose the order Type
- Set the Limit price (if applicable)
- Set the Stop price (if applicable)
- Left mouse click either the BUY or SELL button
FX Board Overview
The FX Board provides a real-time dealing rates interface. This interface is used to execute custom orders for currencies and CFD assets. The FX Board has two sections:
- There is the Market Data Display section.
- Order Grid Display.
To open the FX Board window, click the “New” menu within the NinjaTrader Control Center, then select the “FX Board” menu item.
Quick Orders
It is possible to execute orders directly from the instrument tile.
- Set the order Quantity field
- Set the ATM Strategy option
- Press the Sell button to execute a Sell Market order
- Press the Buy button to execute a Buy Market order
- Hold down the Ctrl key to switch the quick entry button to submit an order at the bid or ask.
You can place a custom order by setting order parameters as shown below.
- Set the order Quantity field.
- Choose the order Type.
- Set the Limit price or the Stop price, depending on which is applicable.
- Set the ATM Strategy option.
- Click on the Sell button to submit a SELL order OR the Buy button to submit a BUY order (6 and 7 in the snapshot below).
Conclusion
The NinjaTrader is a more complicated retail trading platform than the MT4. Therefore, this platform requires a lot of study and practice for the trader to get familiar with it. There are many more functions that need to be explored apart from the order functions.
BrokerNotes.co 2023 Overall Rankings
To recap, here are our top forex brokers for 2023, sorted by Overall ranking.
| Company | Overall Rating | Minimum Deposit | Average Spread EUR/USD - Standard | Trust Score | Tradeable Symbols (Total) | Read Review | Visit Site |
 IG
|
9.9 | £250.00 | 0.86 | 99 | 19537 | IG Review |
Visit Site
|
 Saxo Bank
|
9.7 | €2,000 | 0.9 | 99 | 60000 | Saxo Bank Review | |
 Interactive Brokers
|
9.7 | $0 | 0.6 | 99 | 8500 | Interactive Brokers Review | |
 CMC Markets
|
9.6 | $0 | 0.51 | 99 | 12377 | CMC Markets Review | |
 TD Ameritrade
|
9.5 | $0 | 1.25 | 99 | 0 | TD Ameritrade Review | |
 FOREX.com
|
9.3 | $100 | 1.0 | 99 | 5500 | FOREX.com Review |
Visit Site
|
 City Index
|
9.2 | £100.00 | 1.0 | 99 | 13500 | City Index Review | |
 XTB
|
9 | $0 | 1.07 | 95 | 12000 | XTB Group Review | |
 eToro
|
8.8 | $10-$10,000 | 1 | 93 | 3458 | eToro Review | |
 Swissquote
|
8.7 | $1000 | N/A | 99 | 466 | Swissquote Review | |
 AvaTrade
|
8.6 | $100 | 0.92 | 93 | 1260 | AvaTrade Review | |
 FXCM
|
8.5 | Starts from $50 | 1.38 | 96 | 440 | FXCM Review |
Visit Site
|
 Plus500
|
8.5 | €100 | 0.8 | 98 | 2800 | Plus500 Review | |
 Capital.com
|
8.4 | $20 | 0.65 | 85 | 3152 | Capital.com Review | |
 XM Group
|
8.4 | $5 | 1.6 | 90 | 1429 | XM Group Review | |
 Pepperstone
|
8.4 | $200 | 0.77 | 93 | 2342 | Pepperstone Review | |
 OANDA
|
8.4 | $0 | 1.26 | 92 | 124 | OANDA Review | |
 Admiral Markets
|
8.3 | $100 | 0.8 | 88 | 6942 | Admiral Markets Review | |
 FP Markets
|
8.3 | $100 AUD | 1.2 | 86 | 10000 | FP Markets Review | |
 IC Markets
|
8.2 | $200 | 0.62 | 86 | 3583 | IC Markets Review | |
 Markets.com
|
8.2 | $100 | 1.9 | 98 | 2179 | Markets.com Review | |
 FxPro
|
8.1 | $100 | 1.51 | 90 | 2249 | FxPro Review | |
 Tickmill
|
8.0 | $100 | 0.51 | 82 | 725 | Tickmill Review | |
 Fineco Bank
|
8.0 | $0 | N/A | 92 | 126 | Fineco Bank Review | |
 BlackBull Markets
|
7.9 | $0 | 0.827 | 74 | 26000 | BlackBull Markets Review | |
 DooPrime
|
7.8 | $100 | N/A | 84 | 10000 | DooPrime Review | |
 Vantage
|
7.8 | $50 | 1.30 | 89 | 1000 | Vantage Review | |
 BDSwiss
|
7.8 | $100-$5000 | 1.6 | 83 | 1081 | BDSwiss Review | |
 TMGM
|
7.8 | $100 | 0.96 | 79 | 12000 | TMGM Review | |
 HFM
|
7.8 | $0 | 1.2 | 85 | 3500 | HFM Review | |
 FlowBank
|
7.7 | $0.00 | N/A | 77 | 408600 | FlowBank Review | |
 HYCM (Henyep)
|
7.7 | $100 | 0.6 | 86 | 362 | HYCM Review | |
 Trading 212
|
7.6 | EUR 10 | N/A | 77 | 1785 | Trading 212 Review | |
 Eightcap
|
7.6 | $100 | 1.0 | 87 | 736 | Eightcap Review | |
 Trade Nation
|
7.5 | $0 | 0.6 | 83 | 601 | Trade Nation Review | |
 Moneta Markets
|
7.5 | $50 | 1.27 | 71 | 965 | Moneta Markets Review | |
 ThinkMarkets
|
7.4 | $250.00 | N/A | 86 | 1674 | ThinkMarkets Review | |
 VT Markets
|
7.4 | $200 | 1.2 | 71 | 168 | VT Markets Review | |
 ACY Securities
|
7.4 | $50 | 1.2 | 75 | 1600 | ACY Securities Review | |
 easyMarkets
|
7.3 | $100 | 0.9 | 84 | 199 | a href="/reviews/easymarkets">easyMarkets Review | |
 RoboForex (RoboMarkets)
|
7.3 | $100 | 1.4 | 69 | 12000 | Roboforex (RoboMarkets) Review | |
 IronFX
|
7.2 | $50 | 1.2 | 84 | 340 | IronFX Review | |
 Exness
|
7.2 | $1 | 0.9 | 74 | 112 | Exness Review | |
 Spreadex
|
7.2 | $0 | N/A | 70 | 2000 | Spreadex Review | |
 Trade360
|
7.1 | $250 | N/A | 75 | 1062 | Trade360 Review | |
 AxiTrader
|
7.1 | 0 | N/A | 83 | 175 | Axitrader Review | |
 GKFX
|
7.1 | $0 | N/A | 66 | 354 | GKFX Review | |
 Vestle
|
7.1 | -1 | N/A | 79 | 750 | Vestle Review | |
 OctaFX
|
7 | $25 | 0.9 | 69 | 229 | OctaFX Review | |
 FXOpen
|
7 | $100 | N/A | 80 | 87 | FXOpen Review | |
 TeleTrade
|
7 | $100 | N/A | 67 | 500 | Teletrade Review | |
 FXPrimus
|
6.9 | $100 | N/A | 69 | 140 | FXPrimus Review |
Visit Site
|
 Forex4you
|
6.9 | $0 | N/A | 62 | 150 | Forex4you Review | |
 LegacyFX
|
6.9 | $500 | N/A | 66 | 425 | LegacyFX Review | |
 GBE brokers
|
6.8 | $500 | N/A | 69 | 500 | GBE Brokers Review | |
 Alpari
|
6.8 | $20 | N/A | 67 | 105 | Alpari Review | |
 TopFX
|
6.7 | Depends on payment method | N/A | 67 | 655 | TopFX Review | |
 Libertex (Forex Club)
|
6.7 | $10 | N/A | 72 | 300 | Libertex Review | |
 ATFX
|
6.6 | $500 | N/A | 70 | 150 | ATFX Review | |
 UFX
|
6.6 | $100 | 3 | 67 | 619 | UFX Review | |
 Xtrade
|
6.5 | $250 | N/A | 80 | 142 | Xtrade Review | |
 Tradeo
|
6.4 | $200 | N/A | 67 | 256 | Tradeo Review |
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There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.
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