NinjaTrader vs. Tradovate: Which trading platform is better
NinjaTrader vs. Tradovate: Which is better?
NinjaTrader has been the front of the pack in futures and forex trading for two decades since its first launch.
However, competition always thrives in a strong market. The market's expansion enables the entry of numerous new players, fostering and invigorating competition.
Among that, Tradovate stands out as one of the most formidable contenders in town.
Although NinjaTrader announced the acquisition of Tradovate in early 2022, both platforms continue to operate separately.
This leaves traders with the question: "NinjaTrader vs Tradovate: which is better?" Through this detailed comparison, ninZa.co will assist you in discovering the answer.
What is NinjaTrader?
Established in 2003, NinjaTrader paved the way for new trading methods, maintaining its #1 status in the industry.
The platform not only acts as an independent, cutting-edge charting platform for currencies and futures trading but also as a futures NFA-regulated brokerage.
NinjaTrader’s headquarters are located in Chicago and Denver, United States. It is incorporated with several financial services providers, including Forex.com, Interactive Brokers, CQD, FXCM, TD Ameritrade, Oanda, and City Index.
Being a flexible platform, NinjaTrader allows users to get access to various trading options. You can also access the securities and stocks available through the integrated brokers.
In the latest update version, NinjaTrader has enabled users to download and utilize the software free of charge.
To reduce commissions per trade, users can opt for monthly subscriptions for $99. Alternatively, you can purchase a lifetime license to gain access to other premium features for $1499.
What is Tradovate?
Tradovate is a modern cloud-based futures platform.
Founded in 2015 by Rick Tomsic, Tradovate is headquartered in Ohio, United States. The main goal of this platform is to create a brokerage hub with optimized technology, seamless experience, and cost savings.
This broker platform is integrated with reputable cloud-based trading services, namely TradingView, Collective2, and Jigsaw.
The innovative technology gives traders access to futures trading instruments effortlessly.
Tradovate's commissions are similar to NinjaTrader's after the acquisition. However, instead of 2, the platform presents commission rates for 4 types of contracts: Micros, Standards, Nanos & Events.
One who wants to own a flat-rate account and save on pay-per-trade costs can buy a lifetime license for $1499.
NinjaTrader vs Tradovate: A comprehensive comparison
Advantages of NinjaTrader
As a long-standing platform, NinjaTrader's popularity lies in its versatility and flexibility. Traders can fully access many different instruments depending on their preferences.
Besides, the longer term of the demo account is another benefit of this platform.
- Expanded instrument availability
One of NinjaTrader's main services is the online brokerage service.
Forex is one of the typical brokers here. Users can access real-time markets such as energies, forex, commodities, bonds, equities, etc.
Strong points of Tradovate
When comparing Tradovate vs NinjaTrader, the former received praise for the following outstanding features:
- Availability in all formats
Tradovate offers various versions compatible with many distinct formats.
You can download the software for the desktop, the mobile app, or use the web version.
What's more? Both iOS and Windows users can download and run Tradovate without going through an emulator.
On the other hand, NinjaTrader has not yet provided a comprehensive experience for macOS users with the desktop version.
The platform has just launched a trading app in 2022. However, most reviews express disappointment because it does not offer the same trading experience as on PC.
- Access to additional features cost-free
To access additional NinjaTrader premium functions such as market depth or volume profile indicators, you will need to pay an additional fee.
For Tradovate, everything is completely free. This flat-free platform also makes it easy for users to calculate costs to better plan their trading.
Even if you can't find the right functions at Tradovate, rest assured that there are other options available on integrated platforms like Bookmap or TradingView.
NinjaTrader vs Tradovate: Trading automation & Backtesting
Both platforms enable traders to backtesting and trading automation. However, when it comes to every aspect, NinjaTrader shows its true color.
NinjaTrader uses the accessible universal programming language C#. It is easier for traders to perform market analysis and plan trading strategies.
NinjaTrader vs Tradovate: Which platform should you choose?
Despite being a breath of fresh air for future brokers, Tradovate has demonstrated remarkable features compared to its predecessor.
NinjaTrader receives a handful of complaints about the sluggish and antiquated system. In contrast, a technology-focused platform like Tradovate enables a seamless and unified experience.
However, NinjaTrader still proves its position through its ease of backtesting and automated trading strategies, and a variety of instruments.
All things considered, NinjaTrader excels at providing a friendly trading environment for traders of all levels. Meanwhile, Tradovate offers optimal synchronization solutions in technology and format availabilities.