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AlanP

Ninja Traders What Broker Do You Use?

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I would like to switch to a broker where I can trade direct with Ninja.

 

Anybody got any recommendations? Currently I am thinking of IB or MBT.

 

Would be interested in others experiences.

 

Trhanks

 

Alan

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I have used Interactive Brokers and Ninja for quite a few years now. Dating way, way back to the early days of Ninja. It has worked for me through all the changes/upgrades and I have no issue/problems with IB as a broker.

 

I have heard good things about your other option you mention as well.

 

What I do like about IB is whenever I decide to be adventurous and trade other markets I can trade just about anything you can think of under one, universal account - forex, futures, stock, options, etc...

 

MMS

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Many thanks MMS

 

One of the problems I have with IB is understanding their rules, Day Trading/Pattern Trading/Deposits etc

 

I am in UK and not sure if everthing applies, they have answered queries but not too clearly:confused:

 

Cheers

 

Alan

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AlanP

 

The day trading pattern rules would be the same at any broker -- and if you're referring to stock trading it would require a $25,000 account (with up to 4:1 leverage given) if you are deemed a daytrader. One of those somewhat archaic rules from the times when the markets were crashing following the heyday in the late 90s -- thinking that would solve the problem. Didn't.

 

Anyway, I'm also not sure since that's a U.S. SEC rule I believe that it would apply to an account opened with IB in the U.K. Unless you are aware that the UK has the same regulations -- IB would have to comply.

 

I know though you can open your account in your currency and you do get access to a really good forex clearing ECN as well.

 

MMS

 

 

Many thanks MMS

 

One of the problems I have with IB is understanding their rules, Day Trading/Pattern Trading/Deposits etc

 

I am in UK and not sure if everthing applies, they have answered queries but not too clearly:confused:

 

Cheers

 

Alan

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jaturner and mms thanks for your input.

 

mms on your comments;- I do not intend to trade stocks, at the moment just FOREX but would like the ability in the future to trade Oil/Gold/Currency futures/Index

 

Sound like that the Day Trading/ Pattern rules dont apply?

 

jat;- are PFG an ECN do you know?

 

In general how do you find Ninja as the Trade management tool?

 

Thanks again guys.

 

Cheers, Alan

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Right, you'll be fine on the pattern day trader situation since you're not talking stocks. You'll just need to meet margin requirements for forex and/or futures as you go. They are strict about that but it allows plenty (too much) leverage.

 

As for the trade management using Ninja as your front end it's good -- like anything you need to learn it but they seem to run weekly webinars every week that covers all aspects of using it -- and you'll find it tends to be far better than what most (not all) brokers provide.

 

MMS

 

 

jaturner and mms thanks for your input.

 

mms on your comments;- I do not intend to trade stocks, at the moment just FOREX but would like the ability in the future to trade Oil/Gold/Currency futures/Index

 

Sound like that the Day Trading/ Pattern rules dont apply?

 

jat;- are PFG an ECN do you know?

 

 

In general how do you find Ninja as the Trade management tool?

 

Thanks again guys.

 

Cheers, Alan

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Hey Alan,

 

I use Mirus with ZenFire. Great fills and great customer service, but they don't do Forex. I've heard good things about AMP and Velocity from other traders I know also. I don't know why all the Netpick guys all use Tradestation. I had terrible fills when I was with them. Good luck.

 

KC

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I'm one of those people who absolutely loves the Tradestation platform -- but actually trade somewhere else. I think that's probably why some trade there even if maybe the speed/executions are marginally better perhaps elsewhere -- to get the platform for no charge since TS charges quite a bit on subscription only. That's my guess anyway.

 

The good news is you've got some really great alternatives mentioned here for Ninja which would give you the charting, data and trade management features they have.

 

MMS

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Thanks MMS, yes TS certainly comes well recommended. I certainly am not anti TS, I have often thought that would be the package I end up with and indeed it still might.

 

There is something about Ninja that I like and am impressed with their training etc, next step is to get a broker that I can trade it with and then of course buy it!

 

Is there something you particularly like with TS over NJ. It's always interesting to get others' perspectives.

 

Cheers, Alan

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Hi all, still making my mind up!

 

In searching for reviews on IB & MBT I came across a Software Bridge from Ninja to DukasCopy who are my current ecn broker and have had no problems with.

 

Its from Toolsfortrader and costs $495 but they are also an Introducing Broker for DukasCopy and refund virtually half of Dukas commission.

 

Has anyone heard of it?

 

Cheers, Alan

Edited by AlanP
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Hi all,

 

I use PFG Best minimum trade is 1 mini lot, however there is no need to go past MT4 any longer with the use of MYFX which is briliant for setting partial targets and auto stop loss adjustments My broker (go markets even provided it for free usaully around $100)

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I've been with mbt for years.......

 

 

I'm switching to either IB or PFG

 

I've a traded their demos on and off for a coupla years

 

Why? Care to share?

 

Would appreciate it.

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I have used Interactive Brokers and Ninja for quite a few years now...MMS
:helloooo:

 

M2 S: if you don't mind, what would you say are the most difficult features with IB & NINJA for a beginner to get comfortable or proficient with at first.:confused:

 

Thanx...Tomazo M.

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No problem, I don't mind at all...

 

Here's how I'd answer that. IB isn't going to be the glossiest looking platform and they are not the most 100% user friendly. If you've ever seen their advertising vs. others it's the same with their platform. However, don't let that lack of gloss understate the effectiveness.

 

I find though that some traders are used to really having total hand holding with other brokers and IB isn't that. You're not going to be calling them all the time, and you're not going to have beautiful walkthrough videos and help at every turn. However, that doesn't mean it doesn't do 100% of what is intended -- excellent executions across multiple markets for very affordable rates with excellent uptime (100% for me)

 

Ninjatrader was similar for a long time but they've been going the extra mile to make everything more user friendly in recent years. Their newest version now has their own datafeed you can get - which I always felt was a limitation. This now has been taken care of.

 

Of course you can connect Ninja to IB fairly easily -- again that might be something the first time you do it that confuses you a bit -- but they've gotten better at making this connections fewer steps and easily done. And, the first time you get the connect, the green light comes on - each time thereafter is cake.

 

If it takes an extra day or two to get a handle on this vs. some other brokers that offer far less trust me it's well worth it.

 

That's why we're pretty excited that Ninjatrader is one of our ad sponsors this month -- always nice to have one where I have lots of firsthand experience and can feel good about recommending.

 

Good trading.

 

MMS

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If I could recommend the Rithmic for Ninja for true unfiltered and low latency solution.

Also, consider getting R|Trader for free with Ninja and Rithmic where you could fills on both platforms. If you use OCO orders, R|trader (free with NinjaTrader) would keep your orders on their servers not on your computer. Many traders could find this solution viable for risk management of positions and stability. http://www.optimusfutures.com/rithmic.htm

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Been with AMP for 2 years now, no complaints, my contact responds via skype in less than a minute, most of my queries are answered rapidly, not that I have had many. Margins requirements are reasonable, fees are reasonable. Executions are rapid and problem free. Why trade Forex, I trade currencies 6E,6B, 6C, 6J, 6A no problems with spread, during high volatility can get a bit of slippage but normally only on market orders and usually not more than a pip. Choice of Zenfire (Rithmic) or CQG.

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to use ninja with IB,u need there api connection.NINJA and IB always have some issues on there versions.U can not use NINJA latest version with IB.I recomende u to use ninja directly connected with data feed and a broker who offer that.OPTIMUS FUTURES,GLOBAL FUTURES,EFLOORTRADERS.com

AMP.com or MIRUS futures.com all good in commission and in data providing.

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