Best NinjaTrader Forex Brokers of 2023

NinjaTrader has carved out a niche for itself in the competitive landscape of trading platforms. Founded in 2003, NinjaTrader set out to challenge the status quo, offering a range of robust features aimed at both novice and professional traders. Over the years, it has gained a solid reputation for its customizable interface, advanced charting capabilities, and competitive pricing models.

Choosing a broker that integrates seamlessly with NinjaTrader’s extensive features is crucial. As we dive deeper into broker reviews, we’ll pay special attention to how well each one accommodates NinjaTrader’s functionalities, among other critical factors like trust and fees. With the right broker, you can maximize what NinjaTrader has to offer, ensuring a trading experience that’s not just robust, but also tailor-made for your needs.

List of Top Forex Brokers with NinjaTrader

• FXCM – Best Overall
  NinjaTrader, Trading Station, MT4, TradingView. Capitalise.ai and ZuluTrade. 3,000+ tradable instruments. Commission-free trading, competitive spreads.
• Interactive Brokers – Best Low Spreads
  Nasdaq-listed company. High level of safety and transparency. Very low spreads and commissions. 50,000+ instruments from 150 markets.
• FOREX.com – Best Research Tools
  DMA accounts for raw interbank pricing. Trading Central research tools. Statistics-driven trade ideas from SMART Signals. In-house market research, trade ideas, and live webinars.

How did FXEmpire select the Best NinjaTrader Forex Brokers?

• We confirmed each broker accommodates the NinjaTrader platform.
• We assessed the range of tradable instruments permitted to trade through the broker’s connection to the NinjaTrader platform.
• We checked that the tools and features of NinjaTrader are also available with third-party brokers.
• We investigated available educational materials dedicated to NinjaTrader usage.
• We’ve verified the authorization, regulation, and licensing of each broker with the regulatory bodies in the countries where they operate.
• We opened a live account with the broker to check the live spreads and fees are transparent and competitive.

Our team of experts has identified brokers’ strengths and weaknesses using FX Empire’s comprehensive methodology. Here’s how we test.

Now let’s dive into the selected brokers.

Our Methodology

FX Empire has been leading the way in providing high-quality, detailed, and transparent broker reviews for more than a decade. The review process has evolved over the years to now include over 250 research data points across nine core categories which include:

• Trustworthiness: We check and confirm the broker’s regulatory status, authorizations, and license to operate in different jurisdictions.
• Fees: We open live trading accounts to test the broker’s fees for transparency and competitiveness.
• Trading platform and tools: We evaluate the broker’s trading platforms and tools for their user-friendliness and features.
• Tradable instruments: We explore the number and diversity of tradable instruments offered by the broker.
• Customer support: We test the ease of access to customer support and the level of knowledge of the live support agents.
• Payment methods: We research all of the deposit and withdrawal methods offered by the broker, including the fees and processing times of each one.
• Account types: We assess the depth of the broker’s account types and check its features such as minimum deposits, leverage, execution style, and more.
• Research and education: We explore the quality and depth of the market research and education materials offered by the broker.

For this guide, we verified the availability and the seamless integration of NinjaTrader with each broker. We checked the ease of connection from NinjaTrader to the broker’s trading account and estimated the variety and number of tools and features accessible from NinjaTrader. In addition, we delved into the educational resources each broker provides specifically for NinjaTrader usage.

Meet Our Writers

The team of forex and CFD writers and editors at FX Empire is composed of trading industry professionals and seasoned financial journalists. Our writers have been published on leading financial websites such as Investopedia and Forbes. In addition, they all have extensive trading experience.

How to choose a NinjaTrader forex broker?

To choose a NinjaTrader forex broker, pay attention to the following points:

How to find a well-regulated broker?

While NinjaTrader provides an advanced trading platform to trade from, it partners with third-party brokers to link your trading account to its platform. Therefore, it is important you choose a reliable broker regulated by an established financial jurisdiction.

To find a well-regulated broker, consider the following steps:

• Identify Regulatory Bodies: Look for brokers overseen by reputable authorities. All the brokers listed on this page have entities authorized and regulated by Tier 1 regulators such as the UK FCA, ASIC, the CFTC, and NFA.
• Verify with Regulators: Use the registration number to validate the broker’s status on the regulatory agency’s own database.
• Check the Website: Regulatory information and registration numbers should be easily found on the broker’s website.
• Account Segregation: Ensure the broker keeps client funds separate from their own operational accounts.
• Examine Legal Docs: Go through terms, conditions, and other legal documents to check for compliance with regulatory standards.

Read more about Best FCA-regulated forex Brokers and Best ASIC-regulated forex brokers.

How to check whether fees are transparent and competitive?

There are a variety of fees to consider with a broker. Some of them include:

• Spread. This is the difference between the buy price and sell price of a financial instrument, which should be as low as possible.
• Commission. This is a fee to open and close a trade and it also should be as low as possible. Some brokers offer commission-free trading accounts.
• Overnight, or swap fee. This is the cost of holding a leveraged or margined position overnight and is based on the two different interest rates of the currency pair, plus a broker markup.
• Deposit and withdrawal fee. There may be a fee to deposit and withdraw funds which can differ based on the method (bank wire, credit card, e-payment, etc.).
• Inactivity fee. Some brokers charge a monthly fee if there is no activity on a trading account over a certain number of time.

Brokers will generally advertise their fees on their website but you can also check the broker’s terms and conditions document or turn to customer support for any help.

If you’re linking NinjaTrader to a third-party broker account, be mindful of additional fees for integration. While NinjaTrader’s Multiple Provider Add-On service allows free connection to your broker’s platform, it doesn’t enable trading. To execute trades from NinjaTrader and route orders to your broker account, you’ll need to opt for the Multiple Broker Add-On service, priced at $99 per month.

Check out our guide on Best lowest spread forex brokers.

How to choose the right account type?

Most NinjaTrader brokers offer a variety of trading accounts. Generally, account types can be categorized into a commission-free with higher spreads account or commission-based with lower spreads account.

For novice traders, a commission-free account may be appealing, as most costs are incorporated into the spread. This simplifies both trading and quick risk assessment. On the other hand, seasoned traders might opt for an account with lower spreads, treating commissions as a separate end-of-trade expense.

Many brokers provide demo accounts as a risk-free way for traders to test the platform and trading conditions, which is essential for gaining practical experience without financial exposure. It’s crucial to note that you’ll need a live account when integrating with NinjaTrader.

Read more about Best forex STP accounts and Best forex ECN accounts.

How to choose a relevant leverage?

Through third-party brokers, you can trade a variety of asset classes from NinjaTrader, and each asset class has a different leverage/margin ratio. You can check the amount of leverage available with your broker on its product page or terms and conditions document.

The amount of leverage you can access varies based on the broker you choose and its regulatory status. For example, brokers overseen by top-tier regulators like the UK’s FCA, CySEC, and ASIC typically cap retail forex trading leverage at 1:30. In contrast, offshore-regulated brokers often provide substantially higher leverage, which can reach up to 1:500 or more.

In the first case, this leverage ratio allows you to control a $3,000 position with only $100 in your account. However, leverage amplifies both your profits and losses, as they’re calculated on the total trade value. Exercise caution with brokers offering excessively high leverage, as they are likely either unregulated or minimally regulated and based offshore.

Find out our picks of Best high leverage forex brokers.

What are the main features, capabilities, and tools of NinjaTrader?

NinjaTrader has been a leader in the futures markets for decades for good reason. Below I covered a range of excellent features and tools the platform provides.

• 24-hour emergency trade desk at no extra cost
• Multi-broker compatibility, allowing connections to various third-party brokers via NinjaTrader
• Over 100 technical and customized indicators
• Direct chart trading using Chart Trader, complemented by a broad selection of chart types and timeframes
• Customizable scans via the Market Analyzer
• Comprehensive historical backtesting using tick-level data
• Creation and execution of automated trading systems
• Comprehensive educational resources, including articles, videos, and webinars from NinjaTrader’s library

What to avoid when choosing a forex broker with NinjaTrader?

Here are some things to avoid when choosing a forex broker with NinjaTrader:

• Unregulated brokers. Some brokers have no oversight from a government body meaning they don’t provide enough protection for traders in cases when the broker disappears with your funds or provides poor trade execution.
• Lack of information. If a broker’s website is not transparent about fees, regulatory standing, and trading conditions, consider it a red flag and steer clear of that broker.
• No physical presence. If a broker does not have a physical office in a reputable financial jurisdiction, that’s a warning sign. A well-regulated broker should have a staffed office, including an easily accessible customer support team.

How to avoid forex and CFD scams?

Here are some tips to avoid forex scams:

• Choose a regulated broker in a well-established financial jurisdiction and check its license on the regulator’s online register.
• Check the broker is an official company with a physical address using the country’s companies search portal.
• Reach out to customer support to confirm the presence of staff and to ensure you can communicate with them directly.
• Perform a reputation check by entering the broker’s name into a search engine and making sure there are no negative articles from credible sources.
• Always read the legal terms and conditions carefully and screenshot or video them for evidence.
• Use only familiar and well-known payment providers to add an extra layer of security to your transactions.
• Start with a small amount of funds or trial the broker using a demo account.

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