Forex Ninjatrader
Kylee Evancho
Through NinjaTrader, you can tap into the Market Analyzer for rapid real-time scans of forex opportunities based on custom data points like price, time, and indicator values. Additionally, Forex.com offers access to Trading Central services, featuring valuable technical insights and expert opinions. Their in-house market research is also noteworthy and provides substantial value.
During our live fee test, I found the spread for EUR/USD during the London and New York sessions averaged 0.25 pips with a low commission of 2 USD per lot. This is much better than the industry average commission of 3.50 USD. On top of NinjaTrader, you can access the award-winning IBKR Trader Workstation (TWS) platform which provides a large range of technical indicators and drawing tools, free customizable market scanners, and real-time news from Reuters and Dow Jones.
While NinjaTrader provides an advanced trading platform to trade from, it partners with third-party brokers to link your trading account to its platform. Therefore, it is important you choose a reliable broker regulated by an established financial jurisdiction.
Most NinjaTrader brokers offer a variety of trading accounts. Generally, account types can be categorized into a commission-free with higher spreads account or commission-based with lower spreads account.
For novice traders, a commission-free account may be appealing, as most costs are incorporated into the spread. This simplifies both trading and quick risk assessment. On the other hand, seasoned traders might opt for an account with lower spreads, treating commissions as a separate end-of-trade expense.
Through third-party brokers, you can trade a variety of asset classes from NinjaTrader, and each asset class has a different leverage/margin ratio. You can check the amount of leverage available with your broker on its product page or terms and conditions document.
FX Empire has been leading the way in providing high-quality, detailed, and transparent broker reviews for more than a decade. The review process has evolved over the years to now include over 250 research data points across nine core categories which include:
The team of forex and CFD writers and editors at FX Empire is composed of trading industry professionals and seasoned financial journalists. Our writers have been published on leading financial websites such as Investopedia and Forbes. In addition, they all have extensive trading experience.
Get to Know Our AuthorsDan BlystoneBroker AnalystDan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.
NinjaTrader is a popular trading platform widely used by traders in the financial markets. It provides a comprehensive set of tools and features for analyzing and executing trades across various asset classes, including stocks, CFDs, futures, and forex.
FOREX.com is a highly trusted brand with a long history of offering forex in the U.S. and across the globe. FOREX.com offers its own flagship trading platforms for web and desktop, as well as the full MetaTrader suite. Though its pricing is higher than average, FOREX.com is a balanced choice for traders of all experience levels. Read full review
FXCM is a highly trusted brand that offers multiple trading platforms for algorithmic trading and social copy trading, along with a proprietary platform suite and access to MetaTrader 4. FXCM is great for beginners due to its wide range of educational content. It's worth noting that pricing at FXCM is just average. Read full review
Interactive Brokers is a highly trusted broker regulated across the globe that delivers access to over 100 markets, including forex and CFDs. Its Trader Workstation (TWS) platform offers a variety of advanced trading tools for experienced traders, and IBKR's web-based platform is great for beginner forex traders. Read full review
TD Ameritrade, part of financial conglomerate Charles Schwab, is a leader in platform technology and trusted by millions of investors globally with trillions in assets under its brands. Available exclusively to U.S. residents, TD Ameritrade's forex offering consists of just over 70 currency pairs, along with powerful research and trading tools.
NinjaTrader is a powerful and versatile forex trading platform that has gained popularity among traders worldwide. Designed specifically for the forex market, NinjaTrader provides a comprehensive suite of trading tools and enhanced features.
NinjaTrader's forex trading software offers advanced charting capabilities, allowing traders to analyze price movements and identify potential trading opportunities. The platform also provides access to real-time market data, enabling traders to stay updated with the latest market trends.
One of the key advantages of using NinjaTrader is its extensive library of third-party add-ons and indicators. Traders can customize their trading strategies by incorporating these tools into their analysis and decision-making process.
NinjaTrader also offers a wide range of order types and execution options. Whether you are scalping, day trading, or swing trading, NinjaTrader provides the ability to adapt to different trading styles.
NinjaTrader's user-friendly interface makes it accessible for both beginner and experienced traders alike. The platform offers comprehensive educational resources and support materials that assist traders in understanding its features and utilizing them effectively.
One of the key advantages of NinjaTrader is the flexibility granted by its customization options. Traders can create their own indicators, strategies, and alerts using NinjaScript, a proprietary programming language developed by NinjaTrader. This allows for greater adaptability to individual trading styles and preferences.
NinjaTrader also offers direct market access (DMA) functionality, enabling traders to execute trades directly with liquidity providers without any intermediaries. This can result in faster order execution.
In conclusion, NinjaTrader is a robust trading platform that offers advanced charting capabilities, automated trading options, and a wide range of third-party integrations. However, it does have a learning curve and may not be suitable for all types of traders or asset classes. Traders should carefully evaluate their needs and consider the pros and cons before deciding if NinjaTrader is the right platform for them.
One of the key features of NinjaTrader is its advanced charting tools. These tools provide traders with a comprehensive view of the market, allowing them to analyze price movements, identify trends, and make informed trading decisions.
In addition to charting tools, NinjaTrader also offers robust order entry and execution features. Traders can easily place orders and manage their positions directly from the platform, ensuring quick and efficient trade execution. This feature is particularly valuable for forex traders who need to act swiftly in fast-paced markets.
Furthermore, NinjaTrader provides a variety of market analysis tools that help traders gain deeper insights into market dynamics. These tools include technical indicators, drawing tools, and customizable strategies. Traders can utilize these features to perform detailed analysis and develop effective trading strategies.
FOREX.com is the best forex broker that supports NinjaTrader. FOREX.com, part of the StoneX Group, is a highly trusted brand with a long history of offering forex in the U.S. and across the globe. We love FOREX.com's flagship trading platforms for web and desktop (TradingView's powerful charting is fully integrated within the broker's web platform), and MetaTrader loyalists will appreciate that FOREX.com offers both MetaTrader 4 and MetaTrader 5. An impressive number of CFDs are available within the broker's proprietary platform (though fewer are available on MetaTrader). FOREX.com's pricing is great for active traders, but our research found that FOREX.com is slightly expensive compared to the industry average. Overall, FOREX.com is a well-balanced choice for traders of all experience levels.
2. 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.
3. Start NinjaTrader. Navigate to 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.
Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.
All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.
Note: The online brokers on our site provide the ability to trade forex in one or more ways, such as non-deliverable spot forex (i.e., rolling spot contracts), contracts for difference (CFD), or other derivatives such as futures. The availability of specific markets or features will depend on your country of residence and the broker's applicable brand or entity that services your account(s).
We use proprietary AI technology to assist in some aspects of our content production. However, our scores, ratings, and rankings of online brokers are based on our in-depth product testing and thousands of hand-collected data points. Learn more about our AI Policy and How We Test.
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