One of the first decisions that one must make as they begin their exciting career into the world of online Forex trading is which trading platform they want to utilize. Truly, and without question, the quality of your platform can make all the difference in how much success that you find, so choosing the right one is of the utmost importance.
Today we will be taking a look at the affordable and efficient NinjaTrader to see how it stacks up to your needs. Read on for a comprehensive review of this exciting platform.
What You Will Like
- Options: NinjaTrader features literally thousands of options and addons that will ensure that you enjoy an experience that is customized to your exact needs.
- Learn the Trade: NinjaTrader also features a simulation program that will allow you to practice your trade without risking any actual funds. Whether you are a new trader that is looking to improve their confidence without losing money, or you are a veteran that just wants to practice new ideas on the cheap, this is an excellent feature to take advantage of.
- Advanced Charting System: The charting system on this platform is innovative and highly developed, allowing you to engage in real time analysis with hundreds of markets and receive alerts that are based on your exact specifications.
With this system, you will also be able to back analyze the historical effectiveness of your trading strategy to better inform your future decisions. You will also be able to make trades through your charting system.
- Affordable: To utilize the standard features of this program is free. To expand the services, there are a wide variety of packages that you can choose from that are available for rates that are contingent on the package. A typical price for an annual lease is around $600.
Before you get too excited by the word “free,” do keep in mind that many of the features that you have to pay for access to are things that you are going to want, so factor that into your budget.
Nevertheless, the startup cost for utilizing the services of Ninjatrader is low making it an attractive option for most traders.
Things That You Might Not Like
- Intraday Data Might Cost You: As I mentioned earlier while the standard package is going to be free of charge some of the features that you might want to utilize are going to cost a little bit extra. One of these features is the usage of intraday data.
Depending on your trading strategy this extra cost might be something of a drag, especially if you like a lot of information.
While this isn’t necessarily what you want to see, it is also something of an industry standard so it is almost difficult to list it as a negative aspect of the program.
Like every platform, Ninjatrader has its pros and its cons. While this program is not perfect I am personally of the opinion that its pros are enough to make it a valuable asset to both new traders, and even people with some experience that are looking to change up their operation.
The good news is that with rates as low as $.53 per contract Ninjatrader won’t set you back very much if you decide you want to take it out for a test drive.
If you want the chance to use a program that makes itself easy to use with expansive training options, and is infinitely customizable with thousands of apps and add-ons, then Ninjatrader is certainly going to be worth your time to try.