NinjaTrader review: Desktop platform & third-party addons

When it comes to trading platforms, NinjaTrader holds the stable #1 position and is supported by a vast community of traders at every level. This award-winning platform offers a variety of trading options like futures or forex, with unique features.

If you are in pursuit of an online brokerage, this NinjaTrader review is tailor-made for you. We will walk you through a detailed analysis of every aspect, including the most prominent feature - third-party add-ons.

NinjaTrader Overview

Founded in 2003, NinjaTrader constantly upgrades and expands to meet the needs of thousands of traders globally.

It is a privately held company, owned and operated by NinjaTrader, LLC, an affiliate company of NinjaTrader Brokerage.

To be the survival of the fittest in a growing market like trading, this platform has the urge to provide users with multiple charting tools and a variety of features including brokerage services for futures and forex traders.

Nevertheless, customization has never been that easy with a bunch of third-party add-ons and apps.

The open-user framework allows for the integration of indicators for advanced market analysis and fast order execution.

We will take a closer look at this NinjaTrader review to check all aspects.

Pros

• Integration of thousands of add-ons and apps for indicators from third-party developers
• Free daily webinars, platform instructions, and educational resources
• Simulation trading
• Excellent charting and market analysis tools
• Easy to access and use for traders at every level

Cons

• Some funding methods require a withdrawal fee
• Non futures and forex traders have to sign up with partner brokers

Brief Review of NinjaTrader 8

NinjaTrader 8 (NT8) is the latest update from NinjaTrader.

This software is specially designed for futures/forex traders and stock buyers who prefer automated exchange transactions and single-click solutions.

NT8 supports all standard order types and offers automated trading options through its ATM Strategies or the C#-based trading framework.

The platform's interface offers users flexible customization options for changing chart layouts.  Even better, it allows you to insert technical indicators from third-party developers and drawing tools to enhance your trading strategy.

NinjaTrader Review: Features & Tools

Charting 

Charting is one of the most prominent features of NinjaTrader, allowing you to completely design your own chart windows and customize the layout to your liking. 

Moreover, as an open framework, it enables third parties to offer effective apps and add-ons. The NinjaTrader indicators serve as effective assistants, providing highly reliable signals of the market. The platform offers an extensive range of bar types, including tick, time-based, volume, range, Renko, Heiken Ashi, Kagi, Point, and Figure bars.  Additionally, it provides a diverse selection of chart styles, such as candlesticks, Kagi Line, Mountain charts, and OHLC (with variants). NT8 provides traders with multiple intuitive order entry interfaces, among them, Chart Trader outshines as a fantastic tool. It enables you to place and manage trades directly from a chart.

Trading Strategies

NinjaTrader offers comprehensive support for both partial and fully automated trading strategies. With over 1000 unique automated strategies available on the platform, it caters to a diverse range of trading styles. Investors who are not tech-savvy can gain full access to the automated systems effortlessly with a few clicks. On the other hand, experienced traders can get benefit from the C# based trading framework.

The platform's versatility extends beyond its native language, NinjaScript, as it also accommodates third-party applications for automated trading.

And importantly, advancements in machine learning have opened up a whole new world of automated trading.

Kinetick

Kinetick offers a historical data feed for stock quotes, which gives you access to free end-of-the-day data to use with the NT8 platform.

You can connect to the free Kinetick data through the trading platform with just a few steps.

After configuration, you can start NinjaTrader in parallel with the Kinetick feed, incorporating the stock exchange prices.

Strategy Builder

NinjaTrader aims to simplify the strategy-developing process for all traders at every level. Even without programming knowledge, you can create a fully automated trading plan via a straightforward point-and-click system.

However, individual customization is still the ultimate way to earn the best results.

The Strategy Builder's most notable advantage, from my perspective, is the ability to review the source code afterward. It provides a solid foundation for your programming endeavors.

Backtesting Functionality

Backtesting is the area where NinjaTrader stands head and shoulders above the competition.

Active and experienced traders can take advantage of a variety of NinjaTrader 8 indicators, trading tools, and strategies.

Moreover, you can develop, install or extend the trading systems with the C# programming language.

Trade Simulation

The platform allows users to create and own multiple NinjaTrader demo accounts. You can use them to test different ideas or sharpen your core trading strategy.

By accessing the real-time market data feed, you can trade and test without the fear of risking your real capital.

NinjaTrader Review: Third-Party Addons & Apps

The adaptable and powerful development environment of NinjaTrader encourages third-party developers to create sophisticated and integrated add-ons.

These indicators allow for unlimited expansion and customization so you can craft your own trading ideas.

If you are looking for a reliable indicator vendor, ninZa.co is your destination.

With hundreds of NinjaTrader add-ons and indicators to support users in their trading careers, ninZa.co has been receiving the support of thousands of customers around the world.

Costs

Since the latest update, NinjaTrader has undergone obvious changes in its pricing policy. The most notable change is that the software is now FREE to use, offering access to all features. You can freely download and run the software without any barriers or limitations on the top features of NT8.

The trade-off is that you will pay higher per-trade commissions compared to the old version. Nevertheless, for those who are just starting out or not trading too frequently, this cost is not really an issue.

Free and monthly options come with some extras.

If you wish to utilize volume indicators, an additional $59 per month will be charged. Moreover, opting for a brokerage other than NinjaTrader will incur a monthly fee of $99.

Community & Customer Service

NinjaTrader's online support team displays great enthusiasm in promptly addressing questions.

They are particularly responsive during live market hours, ensuring that you receive an answer within just 15 minutes.

Traders can also access support forums to post a query or find the related topic to their problems.