What is NinjaTrader？
NinjaTrader is a trading platform created by NinjaTrader Group, LLC, and was founded in 2004. The company is based in the United States. It's important to note that although there's mention of NinjaTrader being regulated by the NFA, this is tagged as potentially suspicious and might be a fake clone, thus requiring due diligence and caution.
Pros & Cons
Pros:
No Deposit Minimum: NinjaTrader doesn't set a minimum limit for deposits. This can be attractive to new traders or those with limited capital.
Multiple Customer Support Channels: NinjaTrader provides various means of customer support, including live chat, email, telephone, and social media, making it easier for users to receive assistance.
Multiple Market Instruments Provided: Multiple market instruments including energy futures, index futures, cryptocurrencies, commodities, and metals are available for trading with NinjaTrader, offering traders opportunities to diversify their investment portfolios.
Cons:
Commission Charged: NinjaTrader charges a commission of $0.09 per contract. This could impact the profitability of trades, particularly for high-volume traders.
Suspicious Clone NFARegulatory License: The regulatory status of NinjaTrader being a “suspicious clone” leaves room for concern over its legitimacy. Users should verify the company's credentials and exercise caution before trading.
Is NinjaTrader Safe or Scam？
Regulatory Sight: NinjaTrader is stated to be under the regulation of the National Futures Association (NFA). However, there's a notable status of being a “Suspicious Clone” which implies that there could potentially be another platform imitating the actual NinjaTrader. The license type is identified as a “Common Financial Service License,” and the license number is 0339976. But due to the clone warning, it's immensely crucial for traders and interested clients to exercise caution and perform thorough due diligence to ascertain the platform's regulatory credibility.
User Feedback: Some usersclaim they were unable to withdraw their earnings, stating that their withdrawal request was not honored. They accuse NinjaTrader of not making the payment and repeatedly provide excuses to avoid settlement. As a result, they strongly advise against trading with NinjaTrader.
Market Instruments
NinjaTrader offers a diverse range of market instruments for trading, allowing clients to diversify their investment portfolios. These instruments include:
Energy Futures: This involves contracts based on energy resources like oil and gas. Traders speculate on the future price of these resources.
Index Futures: These are futures contracts on a stock or financial index. Traders speculate on whether the index's price will rise or fall.
Cryptocurrencies: This includes popular digital currencies like Bitcoin, Ethereum, and more. Traders can speculate on the price movements of these digital assets.
Commodities: Various hard and soft commodities, including but not limited to, agricultural products or resources like gold and oil are available for contracts.
Metals: This typically involves trading in precious metals like gold, silver, platinum, or industrial metals like copper.
Margin
NinjaTrader employs a margin system that's commonly used in futures trading, which includes two types of margins: initial margin and maintenance margin.
Initial Margin: Before entering a futures position, traders need to deposit an initial sum of money as a good faith deposit, known as the initial margin. This amount, determined by the exchange where the contracts are traded, acts as collateral to cover potential losses resulting from price shifts in the futures.
Maintenance Margin: Once a futures position is open, the maintenance margin is the minimum account balance that must be maintained to keep the position open. If a trader's account equity falls below this level, they might receive a margin call, requiring additional funds to be deposited into the account.
Moreover, NinjaTrader applies different margin levels based on the duration of the open position — overnight margin and day trading margin.
Overnight Margin: This is the standard margin set by the exchange for traders who intend to hold their positions open overnight or for several days.
Day Trading Margin: This is a reduced margin for day traders aimed at amplifying their leverage. Qualifying for this margin requires operating during regular market hours and closing positions before the end of the trading session. Failure to close positions in time could result in the application of the standard overnight margin and a potential margin call.
Traders must thoroughly understand the margin requirements associated with the futures contracts they are trading in and closely monitor their account balance to avoid margin call risks. NinjaTrader's margin policy and FAQs can provide traders with further details.
Commission
NinjaTrader charges a commission fee of $0.09 per contract, which is a disadvantage. It is not explicitly stated whether there may be other fees charged alongside this. Therefore, users should be cautious about potential hidden fees, such as transaction fees, withdrawal fees, or inactivity fees.
Trading Platform
NinjaTrader provides a versatile self-built trading platform, suitable for both new and experienced futures traders. It supports multiple devices, including desktop, web, and mobile applications. The platform provides advanced charting capabilities, allowing for extensive customization with a wide range of styles, time frames, and over 100 technical indicators. NinjaTrader's SuperDOM (depth of market) tools are designed for swift and easy use for quick price analysis, order placement, and position management. The platform offers powerful quotes for a clear overview of the market and helps to facilitate informed trading decisions. Traders are aided by advanced trade management features, including automatic order submission and self-tightening trailing stops to reduce emotional involvement. Also provided is a streaming market replay feature that enables the review of historical market data tick by tick. The platforms order flow analysis visualizes buying and selling pressure, enabling traders to confirm market movement.
Customer Support
NinjaTrader offers a comprehensive range of customer support channels operating 24 hours a day, 5 days a week. This includes:
Live Chat: for instant help and support.
Email Support: Via the addresssupport@ninjatrader.com for detailed inquiries or issues.
Telephone Support: Customers may directly call them at 1-800-496-1683.
24-Hour Emergency Trade Desk: A dedicated line is available at 312.423.2234 for immediate assistance in case of emergencies related to trading.
Fax: Users can send faxes to 312.329.9888.
Social Media: NinjaTrader maintains a presence on several social media platforms, including X, Facebook, YouTube, LinkedIn, and Instagram, providing updates and enabling further means of communication.
Conclusion
NinjaTrader is a U.S.-based broker founded in 2004, offering a diverse range of market instruments for trading. It also provides a comprehensive trading platform and different customer support channels. However, with an abnormal regulatory status and negative user feedback, we do not recommend users to trade with this broker.
Frequently Asked Questions (FAQs)
Q: Is there a minimum deposit to start trading with NinjaTrader？
A: No, NinjaTrader does not require a minimum deposit to start trading.
Q: What is the commission fee on NinjaTrader？
A: NinjaTrader charges a commission fee of $0.09 per contract. However, you should be aware of potential hidden fees.
Q: What features does the NinjaTrader trading platform offer？
A: The NinjaTrader platform offers advanced charting capabilities, depth of market tools, powerful quotes, advanced trade management features, a streaming market replay feature, and an order flow analysis visualization.
Q: Is NinjaTrader regulated？
A: NinjaTrader is stated to be regulated by the National Futures Association (NFA) in the U.S, however, there's a notable tag of being a “Suspicious Clone”, indicating potential concerns over its legitimacy.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
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