Face-Off: TradingView vs. NinjaTrader - A Comprehensive Comparison

Choosing the right trading platform is crucial for success in the financial markets. In this comprehensive comparison, we delve into the strengths and weaknesses of TradingView and NinjaTrader, catering to different trader preferences and needs.

User Base Distinctions Between TradingView and NinjaTrader: 

TradingView: Getting started with TradingView is a breeze as it's a web-based platform with a pre-configured setup; users can simply log in and start. The absence of data feed configuration adds to its appeal, allowing users to swiftly type in their query and pull up a chart. This simplicity makes TradingView an ideal choice for individuals who wish to casually access charts sporadically. The platform caters to those interested in occasional technical analysis and a more social network-oriented experience.

NinjaTrader: While NinjaTrader demands a more substantial learning curve for setup, its configurability stands out, offering a platform that can be tailored to individual needs. Despite the initial learning investment, users often find the platform's advanced features indispensable. NinjaTrader's user base comprises a more serious cohort of futures traders who appreciate the platform's depth and versatility. Notably, the platform's Advanced Trade Management (ATMs) feature empowers users to automate various entry and stop strategies without the need for coding expertise, adding a layer of sophistication to their trading experience.

Which one is good for newbie traders: 

TradingView focuses on providing comprehensive charts but does not operate as a brokerage. While it serves as an excellent tool for quickly accessing charts, users need a separate brokerage for live trading. Dealing with integrations becomes necessary to ensure seamless coordination between the charting platform and the chosen brokerage. Although TradingView has integrated with select brokers, these connections typically require separate accounts with different companies.

On the other hand, NinjaTrader offers a more holistic user experience by overseeing all aspects of the trading setup. This includes not only the software but also the brokerage and data feeds. The integrated nature of NinjaTrader's approach means users can enjoy a cohesive and streamlined experience. This all-in-one solution parallels the model adopted by companies like Apple, where control over both hardware and software contributes to a more unified and efficient customer experience. Ultimately, the integrated nature of NinjaTrader positions it as a compelling choice for traders seeking a seamless and well-supported trading environment.

In conclusion, TradingView is user-friendly with no installation required, making it easy to start quickly. On the other hand, NinjaTrader provides an all-in-one solution for futures trading, requiring a bit more setup but offering a comprehensive and integrated trading environment. 

Cost Comparison: TradingView vs. NinjaTrader 
Recent updates, including the release of NinjaTrader 8.1, have altered the pricing structure of these platforms. Let's explore the cost differences between TradingView and NinjaTrader in light of these changes.

TradingView:
 

NinjaTrader's Pricing is Clear and Simple 

Option 1: Free Software + $0.35/Micro or $1.29/Standard

Option 2: $99/month + $0.25/Micro or $0.99/Standard

Option 3: $1499 + $0.09/Micro or $0.59/Standard

In conclusion, while TradingView has a monthly cost, NinjaTrader can be used for free with a slightly higher commission. For those wanting to avoid the higher commission, a lifetime license purchase is available, making NinjaTrader the more cost-effective choice.

Order Types: 

TradingView has limited order types, and as of April 19, 2019, it started supporting trailing stop losses in Oanda. However, it's essential to verify from TradingView which order types are currently supported.

In contrast, NinjaTrader supports a wide range of order types, and even those not supported by the broker (such as MIT orders) can be simulated on the client side for some brokers. This versatility makes NinjaTrader a clear winner in terms of supported order types.

Therefore, NinjaTrader will support more order types and advanced ways of placing orders.

In conclusion, when considering pricing and order types, NinjaTrader emerges as the more favorable choice. Its transparent pricing structure, diverse order types, and the option for a free software version make it a robust and cost-effective platform for traders with varying needs and preferences.