Ninjatrader vs. Thinkorswim, which broker is better? At first glance, both have excellent reviews. But we will take a look closer at both brokerage services so you can see what suits best to your trading profile. Let’s start with their main features.
Ninjatrader’s most representative functions
Account currency: EUR, USD
Minimum deposit: For futures – $400, for Forex – $50
⚖Leverage: Following the affiliates’ terms
Spread: Following exchange specifications and affiliates’ terms and conditions Instruments: Derivatives market – instruments of exchanges CME, CBOT, NYMEX, COMEX, NYBOT, ICE US, ICE UK, EUREX.
What is Ninjatrader?
NinjaTrader platform is one of the best alternatives for anyone looking for a powerful online trading platform focused on futures trading. Besides CQG Continuum, it’s one of the most popular brokerages for futures trading.
NinjaTrader is an online trading platform. It was founded in 2003 by Raymond Deux in Chicago, Illinois. Originally, NinjaTrader was a real-time market analysis and charting platform for professional traders. However, in 2004, a version for retail traders was launched, allowing a wider audience to use the platform.
Since then, NinjaTrader has become a very popular and widely used online trading platform around the world.
The platform offers an amazing range of services, features and tools to help traders and investors analyze the markets and make informed decisions. Additionally, it also offers an active online community and a wide range of training resources to help users improve their trading skills.
Advantages of NinjaTrader
The Benefits of an Online Trading Platform for the Futures Market
The derivatives market allows traders to participate in major financial markets through futures and options. With a much smaller investment, traders can access positions in currencies, stocks, indices, cryptocurrencies, commodities, and more.
Also, NinjaTrader does not require a minimum deposit account. Once you have opened your trading account on this platform, you have the option of doing simulated trading activities. It is a live brokerage account allowing you to test your trading strategies and plans.
One of the main perks of the exchange platform is the possibility of automating your transactions. To do this, the trader can program his own directives on the platform if he has knowledge of the C# language. Otherwise, he can access automated trading strategies. Some of them are paid, whilst others are free.
NinjaTrader has a large and active community. Participants exchange ideas, strategies, and trends.
Finally, this online trading platform allows integration with a variety of online brokers operating in the futures markets.
Disadvantages of NinjaTrader
The free version of this platform allows traders to trade, paying per trade for using the platform. However, access to more advanced features is only possible under paid plans.
The power of this platform places high demands on the hardware to run smoothly. It can be inconvenient if you don’t have the right equipment.
To take full advantage of its features, NinjaTrader may require a significant learning curve. In this link, you can access the best tutorials for trading with this online trading platform.
In conclusion, if your goals lie in futures and options trading, NinjaTrader is your best alternative. Keep costs and fees in mind to properly assess the convenience of trading from this platform.
What is Thinkorswim?
Thinkorswim brokerage results from a merger of TD Ameritrade and Thinkorswim with a focus on securities trading. It also offers trading with spot instruments as well as Forex trading. The company’s reputation is impeccable. Thinkorswim was nominated for many awards, including Best App for Traders, Best Platform and Tools, and Best Broker for Options Trading. Licensed and authorizations from the most severe regulators confirm this company’s reliability.
Thinkorswim’s most representative functions
Account currency: USD
Minimum deposit: From $0 (from $2,000 to activate margin trading opportunities)
⚖ Leverage: Floating
Spread: from 0.00 points
Instruments: Over 70 currency pairs
Margin Call / Stop Out: Stop out – 25%
Thinkorswim Advantages
Thinkorswim is an American company gathering traders of all sizes and shapes. From signing up to trading execution, the journey is pleasant and seamless. You can open a new trading account in a matter of minutes to get access to a range of trading and investment options. You can also choose from custodial accounts, UTMA/UGMA, and 529 plans.
For all those who are getting their feet wet in trading, there are no worries about getting their way around.
To start trading, you just fill in the online application, and a generic investment account is available to you. You can fund the account electronically and start trading the same day. If you opt for an account without margin, there is no minimum deposit. Also, equity transfers come duty-free. For not a computer-savvy person, you can get a helping hand from new clients’ account specialists available 24/7.
Thinkorswim comes with abundant learning materials and useful trading content for new users. There is a Thinkorswim Learning Center consisting of videos and articles covering all the features you need to use for profitable trading. You will learn how to use some keyboard shortcuts, use Active Trader features, configure the application, and much more.
For professional traders, Thinkorswim has advanced charting tools, direct market entry, Level II quotes, and different order forms. There are more than 300 charting tools to model your trades with predicted results.
Option for order types customization comes very handy. You can customize the order side, quantity, and tax lot methods. Also, traders can customize their order templates for different asset classes to get access to multi-order strategies.
Thinkorswim Disadvantages
When it comes to some disadvantages the Thinkorswim platform may have, we have based our research on negative testimonials from users.
You can find many complaints regarding high commissions and difficulties in learning how to use the platform.
The platform is abundant in customization options, but for some users, this is too overwhelming.
Furthermore, the platform is available for US clients, and there is no membership option for Federal Deposit Insurance. This insurance is important as it ensures trading amounts up to 2500 000 dollars. Finally, the entry threshold seems to be quite high.
Ninjatrader vs Thinkorswim – Final Verdict
Since the advent of the internet, financial markets have taken a major turn. Today most trading and investing are done online through a network of networks. Also, thanks to him, participation in the markets has been opened up to all willing to take the risk of being part of a trading world.
The choice of a broker is decisive for trading success. It’s your inseparable partner during your trades.
You book data and get data from it. You do training on their platform. NinjaTrader and Thinkorswim are both great platforms. However, there are some nuances that may affect choice.
While both brokerages have their merits, NinjaTrader enables a better overall package, as it has many desirable features for rooky and experienced users …NinjaTrader Brokerage requires a minimum deposit of 1000. In contrast, Thinkorswim mandates a minimum deposit of 100.
Ninja is a lot slower for chart scanning due to the data download and filling of the chart (depends on your data feed, of course). As stated on their platform, TD Ameritrade’s Thinkorswim customer service is ready to assist 24/7. However, they have bad ratings and reviews.
On the other hand, NinjaTrader customer support has great reviews for clients.
Before making a final decision, take a full tour of both of them. Each has its secrets, its performance on certain financial instruments, and its advantages and disadvantages.
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