Ninja Trader Forex Trading Software Reviewed

ForexNewsNow | Published on August 6, 2012 at 9:07 am

ForexNewsNowNinjaTrader is a renowned international online trading technology developer and provider that was established in 2004 and is at this moment headquartered in Denver, Colorado but has offices in various countries across the globe such as Germany and Netherlands.

The main forex trading platform developed by the company is also called NinjaTrader. The NinjaTrader software platform offers different functionalities such as advanced charting, trade simulation, market analysis and of course lives trading possibilities.

NinjaTrader Online Trading Platform

NinjaTrader is an online trading and market analysis platform developed by the venture. At this moment the software platform is supported by several hundred online forex brokers around the globe. The biggest characteristic of this platform is the fact that it includes all aspects and tools required in the online trading world.

Analysis Capabilities

The NinjaTrader forex trading platform gives traders access to advanced market analysis tools and charting features. Traders will be able to analyze the development of various stocks, futures as well as forex currency pairs.

The analysis module of the platform is aided by advanced and customizable charts. These charts include extensive indicator libraries, rich drawing tools and support multi-series charting as well as give the possibility to directly trade from charts without the need to open new windows.

The three biggest features available in the analysis module are the strategy analyzer, the market analyzer and the trade performance analyzer. The strategy analyzer will evaluate traders’ automated trading strategies making recommendations for improvement.

The market analyzer allows the trader to analyze various markets with the use of multiple filters that create a better overview which leads to more efficient trading. The trade performance analyzer will evaluate the overall historical trading habits of the trader with the aid of over 80 performance metrics.

Manual Trading

The NinjaTrader platform naturally also allows the manual trading of stocks, futures as well as forex. The platform is different from other similar trading platforms in the sense that it offers several advanced tools and options.

This forex trading platform module also has various automated features that will prevent the trader from unintentionally losing money. This is achieved by features such as automated self-tightening stops, breakeven stop loss feature and more.

The biggest advantage of NinjaTrader, as explained above, is that it gives the possibility to traders to trade directly from the charts and analysis data generated. In most cases this is not available at all in other platforms of this kind.

The manual trading platform has also several customized parts that were created especially for a given type of asset. For example, the SuperDOM trading feature has been developed for futures and stock trading, while the FX Pro was designed for advanced forex trading.

Automated Trading

NinjaTrader also allows traders to create automated trading strategies. The automated trading strategy feature performs best with the various analysis tools and charts offered in the analysis module. This is because using the multitude of analysis tools and charts – some of them specially developed for automated trading – traders will be able to optimize their strategies to achieve the best results.

Trade Simulation

Another great aspect of the NinjaTrader forex trading platform is the possibility to simulate trades and advanced transactions for educational purposes. This feature will allow traders to simulate the possible outcome of various trades which will considerably help them to understand the complex mechanisms of online trading and market developments.

The feature allows traders to even simulate their automated trading strategies giving accurate predictions about the choices they have made. The simulation feature is an extremely useful tool for both new and old traders. It’s a tool that is most of the time not available in other and more popular platforms.

NinjaTrader Brokers

At this moment there are more than a hundred forex brokers on the market that are compatible with the NinjaTrader platform. Some of the most important and biggest NinjaTrader forex brokers are Forex.com, MV Trading, ActivTrader, and several others.

The latest forex broker to adopt the NinjaTrader platform is FXCM. FXCM is a major FX broker that offers top-quality services to traders worldwide. The deal between FXCM and NinjaTrader will allow traders of this broker to use the advanced features and tools provided by the NinjaTrader platform.

The deal will also allow FXCM traders to use the NinjaTrader platform free or charge. Normally in order to execute live trades on the NinjaTrader platform, traders will have to pay a monthly fee of $50. FXCM traders will be exempted from this rule.

Conclusions

NinjaTrader is a truly advanced online trading platform offering top-quality manual trading, automated trading and analysis tools. The multitude of features and tools is also aided by the possibility to install more than 300 third party add-ons to the platform based on traders’ preference and needs.

There are more than 100 individual forex, stocks and futures brokers on the market that use the NinjaTrader platform. Some of them include renowned names such as Forex.com, FXCM and various others.

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