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Our top alternative brokers to NinjaTrader
Interactive Brokers
4.9
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Saxo Bank
4.8
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Our top alternative brokers to NinjaTrader
Interactive Brokers
4.9
Visit broker
Saxo Bank
4.8
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NinjaTrader Alternatives

The best alternatives to NinjaTrader are

  1. Interactive Brokers - US discount broker
  2. Saxo Bank - Danish investment bank
  3. DEGIRO - Dutch discount broker

Let's see in a bit more detail how the NinjaTrader alternatives compare to NinjaTrader and each other:

NinjaTrader alternatives comparison
NinjaTrader Interactive Brokers Saxo Bank DEGIRO
Overall score 4.6 4.9 4.8 4.3
Fees score 4.6 stars 4.3 stars 2.9 stars 5.0 stars
Account opening score 3.5 stars 3.4 stars 2.6 stars 1.3 stars
Deposit and withdrawal score 1.6 stars 2.5 stars 4.8 stars 3.3 stars
Web platform score - 4.3 stars 5.0 stars 4.0 stars
Markets and products score 1.8 stars 5.0 stars 5.0 stars 3.6 stars
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Waiting list and longer account opening time

Why are these brokers considered good alternatives to NinjaTrader? There are many areas based on which NinjaTrader can be compared with others. When we say a given online broker is a good alternative to NinjaTrader we mean these brokers are comparable in the following areas:

  • The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
  • The type of clients they target, i.e. beginners, experienced investors, or day traders.

NinjaTrader alternatives recommendations

Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:

  • NinjaTrader is recommended for active traders focusing on futures
  • Interactive Brokers is recommended for traders looking for low fees and a professional trading environment
  • Saxo Bank is recommended for investors and traders looking for a great trading platform and solid research
  • DEGIRO is recommended for price-sensitive buy-and-hold investors and traders looking only to carry out transactions

Important factors of finding NinjaTrader alternatives

So far BrokerChooser has reviewed 63 online brokers in detail, which gives this comparison a solid starting point.

Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we

  • open a live account
  • check over 100 criteria, with weighting based on readers' preferences
  • refresh data regularly

Whether NinjaTrader or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:

Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. NinjaTrader is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost NinjaTrader alternative.

Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At NinjaTrader, the account opening is slower than average, so if you consider this important some NinjaTrader alternatives can be a good choice.

Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you cannot make a deposit with your credit card at NinjaTrader, some alternatives might allow you to do that.

Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.

Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given NinjaTrader alternative is a must.


Now let's dive into the details of how NinjaTrader and its alternatives perform in the most important areas!

NinjaTrader alternatives
NinjaTrader

NinjaTrader is a US-based software company, which provides a great trading platform with advanced research tools. The company was founded in 2003.

Besides providing the software, NinjaTrader is a registered NFA (National Futures Association) company and an introducing broker of brokers, like Phillip Capital or Dorman Trading. The introducing broker status means that your assets and cash are held with the broker, like Phillip Capital, but the platform, the fees, and customer support are provided by NinjaTrader.

In our review, we tested NinjaTrader's platform and brokerage services through an account opened with Phillip Capital. Phillip Capital is a global broker, regulated by the top-tier financial authorities, such as US CFTC or UK FCA.

You can also connect the following brokerage accounts to NinjaTrader platforms: Interactive Brokers, TD Ameritrade, Oanda, Forex.com, FXCM, and City Index. The advantage of connecting these accounts is that you can trade other popular asset classes, like stocks, on NinjaTrader's great platform.

Recommended for active traders focusing on futures

Pros Cons
Low trading fees High withdrawal fee
Great platform and research No mobile app and desktop is only on Windows
Quality educational materials Only futures and options on futures

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Fees
4.6

NinjaTrader has low futures and options on futures trading fees. Also, the fee structure is transparent. On the negative side, there is a high withdrawal.
Pros Cons
Low trading fees High withdrawal fee
Transparent fee structure
NinjaTrader alternatives trading fees
NinjaTrader Interactive Brokers Saxo Bank DEGIRO
US stock - $1.0 $10.0 $0.6
UK stock - $7.2 $9.6 $2.4

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k

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Account opening
3.5

NinjaTrader's account opening is fully digital and the minimum deposit is low, $400. On the other hand, the account verification can take long, even 4-5 business days, and the account opening process is a bit complicated.
Pros Cons
Fully digital Slow
Low minimum deposit
NinjaTrader alternatives minimum deposit and account open times
NinjaTrader Interactive Brokers Saxo Bank DEGIRO
Minimum deposit $400 $0 $10,000 $0
Time to open account >3 days 1-3 days 1-3 days >3 days

Learn more about NinjaTrader minimum deposit here.

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Deposit and withdrawal
1.6

NinjaTrader's deposit and withdrawal can be improved. You can use only bank transfer and check, and there is a high fee for bank withdrawals. As a plus, there is no deposit fee and the withdrawals are quick, took only one day for us.
Pros Cons
No deposit fee Credit/Debit card not available
Quick withdrawal, less than 1 business day High withdrawal fee
NinjaTrader and alternatives withdrawal options and fees
NinjaTrader Interactive Brokers Saxo Bank DEGIRO
Bank Transfer Yes Yes Yes Yes
Credit/Debit card No No No No
Electronic wallets No No No No
Withdrawal fee $40 $0 $0 $0

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Web trading platform

At the time of the review, NinjaTrader provided only a desktop platform. The only way to use a web trading platform along with NinjaTrader's desktop trading platform is if you connect an external brokerage account, such as brokerage account with Interactive Brokers or Oanda.
NinjaTrader and alternatives trading platform scores
NinjaTrader Interactive Brokers Saxo Bank DEGIRO
Web platform score - 4.3 stars 5.0 stars 4.0 stars
Mobile platform score - 3.5 stars 5.0 stars 4.5 stars
Desktop platform score 4.8 stars 3.0 stars 5.0 stars -

Learn more about NinjaTrader's web trading platform in the detailed NinjaTrader review.

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Markets and products
1.8

With NinjaTrader Brokerage, you can trade only futures and options on futures. To trade with popular asset classes, like stocks or spot forex, you have to connect your existing brokerage account to NinjaTrader.
NinjaTrader and alternatives markets and products
NinjaTrader Interactive Brokers Saxo Bank DEGIRO
Stock No Yes Yes Yes
ETF No Yes Yes Yes
Forex No Yes Yes No
Fund No Yes Yes Yes
Bond No Yes Yes Yes
Options Yes Yes Yes Yes
Futures Yes Yes Yes Yes
CFD No Yes Yes No
Crypto Yes Yes Yes Yes

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Verdict

NinjaTrader is a great platform for futures trading.

On the plus side, we liked the low commissions. Their advanced platform is great for experienced traders, especially futures traders. The educational materials provided by Ninja are well structured and they have an active user forum as well.

NinjaTrader Brokerage has some drawbacks though. The fees for withdrawal are high, $30-40 per withdrawal. There is no mobile platform and the desktop platform is available only on Windows. Lastly, the product portfolio covers only futures and options on futures.

As there is no fee for the demo account and you can open it within a few minutes, feel free to try NinjaTrader.

 

NinjaTrader
Summary NinjaTrader is a US-based software company, which has an excellent desktop application for advanced users, particularly futures traders. NinjaTrader is an NFA-registered company and introducing broker of brokers like Philip Capital and Dorman Trading.
Fees score 4.6 stars
Recommended for Active traders focusing on futures

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NinjaTrader alternatives
Interactive Brokers

Interactive Brokers was founded in 1978 and is one of the biggest US-based discount brokers. The broker is regulated by several financial authorities globally, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).

As it has licenses from multiple top-tier regulators, the broker is considered safe. Also, having a long track record and publicly disclosed financials while being listed on a stock exchange are also great signs for its safety.

Recommended for traders looking for low fees and a professional trading environment

Pros Cons
Wide range of products Extremely complex desktop trading platform
Many great research tools Complicated account opening process
Regulated by several authorities High inactivity fee

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Fees
4.3

Interactive Brokers has low trading fees and for US clients, stock and ETF trading is free. On the negative side, there is a high inactivity fee for non-US clients.
Pros Cons
Low trading fees Inactivity fee
Low stock and ETF fees
Low financing rate
Free stock and ETF trading for US clients
NinjaTrader vs. Interactive Brokers: Trading fees
Interactive Brokers NinjaTrader
Apple benchmark fee $2.2 -
Vodafone benchmark fee $14.9 -
EURUSD benchmark fee $17.9 -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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Account opening
3.4

IB's account opening process is fully digital and the required minimum deposit is low. On the negative side, the online registration is complicated and account verification takes around 2 business days.
Pros Cons
Fully digital Not user-friendly
No minimum deposit for most accounts types Confusing messages throughout the process
NinjaTrader vs. Interactive Brokers: Minimum deposit, time to open an account
Interactive Brokers NinjaTrader
Minimum deposit $0 $400
Time to open account 1-3 days >3 days

If you are interested more in Interactive Brokers minimum deposit, this overview will help you.

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Deposit and withdrawal
2.5

Interactive Brokers offers many account base currency options and one free withdrawal per month. The main drawbacks are that you can only use bank transfer and the process is not user-friendly.
Pros Cons
No deposit fee Credit/Debit card not available
Several account base currencies Not user-friendly
First withdrawal each month free
NinjaTrader vs. Interactive Brokers: Withdrawal options
Interactive Brokers NinjaTrader
Bank Transfer Yes Yes
Credit/Debit card No No
Electronic wallets No No
Withdrawal fee $0 $40

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Web trading platform
4.3

Interactive Brokers's web platform is simple and easy to use even for beginners. On the negative side, it is not customizable.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report
Two-step (safer) login
Web trading platform of Interactive Brokers, a NinjaTrader alternative
NinjaTrader vs. Interactive Brokers: Trading platform scores
Interactive Brokers NinjaTrader
Web platform score 4.3 stars -
Mobile platform score 3.5 stars -
Desktop platform score 3.0 stars 4.8 stars

Learn more about Interactive Brokers's web trading platform in the detailed Interactive Brokers review.

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Markets and products
5.0

Through Interactive Brokers you can access an extremely wide range of markets, with every product type available.
NinjaTrader vs. Interactive Brokers: Markets and products
Interactive Brokers NinjaTrader
Stock Yes No
ETF Yes No
Forex Yes No
Fund Yes No
Bond Yes No
Options Yes Yes
Futures Yes Yes
CFD Yes No
Crypto Yes Yes

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Verdict

Interactive Brokers is one of the biggest US-based discount brokers, regulated by several top-tier regulators globally. We recommend this broker for advanced traders.

On the plus side, IB has a vast range of markets and products available, with diverse research tools and low costs

There are some drawbacks though: there is a high inactivity fee and the account opening process is complicated. The desktop platform is complex and hard-to-understand, especially for beginners.

If you have experience navigating complex platforms and you like transparent low-cost trading, Interactive Brokers could be a great fit for you.

Interactive Brokers
Summary Interactive Brokers is a US discount broker. It is listed on a stock exchange and regulated by several authorities, including top-tier ones like the FCA and the SEC.
Fees score 4.3 stars
Recommended for Traders looking for low fees and a professional trading environment

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NinjaTrader alternatives
Saxo Bank

Saxo Bank is a Danish investment bank founded in 1992, providing online trading and investments. The company is regulated by several financial authorities globally, including the Danish Financial Services Agency (FSA) and the UK Financial Conduct Authority (FCA). 

Saxo Bank is a global service provider. In the different regions, its subsidiaries are present in the form of separate legal entities. The services offered by each entity might change slightly especially in case of their fees and products available to trade. In this review, we tested Saxo Bank UK.

Saxo Bank is considered safe because it has a long track record, has a banking background, and is regulated by top-tier financial authorities.

Recommended for investors and traders looking for a great trading platform and solid research

Pros Cons
Great trading platform High bond, options and futures fees
Outstanding research High minimum deposit
Broad product portfolio Lacks live chat and 24/7 availability

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Fees
2.9

Saxo Bank has average trading and non-trading fees overall. The fees for forex, mutual funds and stock index CFDs are low, while they are average for real stocks, ETFs or stock CFDs. Bond, options and futures fees are high.
Pros Cons
Low fund fees Inactivity fee
No withdrawal fee High bond, options and futures fees
Transparent fee structure
Lower fees for Platinum and VIP clients
NinjaTrader vs. Saxo Bank: Trading fees
Saxo Bank NinjaTrader
Apple benchmark fee $20.2 -
Vodafone benchmark fee $19.7 -
EURUSD benchmark fee $15.7 -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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Account opening
2.6

Saxo's account opening is fully digital, user-friendly, and available in most of the world. On the other hand, the minimum deposit is high in certain countries, and account verification can take longer.
Pros Cons
Fully digital Minimum deposit is high in certain countries
User-friendly Relatively slow account verification
Available in almost every country
NinjaTrader vs. Saxo Bank: Minimum deposit, time to open an account
Saxo Bank NinjaTrader
Minimum deposit $10,000 $400
Time to open account 1-3 days >3 days

If you are interested more in Saxo Bank minimum deposit, this overview will help you.

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Deposit and withdrawal
4.8

Saxo provides multiple deposit and withdrawal options free of charge on a user-friendly interface.
Pros Cons
Credit/Debit card available Electronic wallets are not available for deposit or withdrawal
Free withdrawal
No deposit fee
NinjaTrader vs. Saxo Bank: Withdrawal options
Saxo Bank NinjaTrader
Bank Transfer Yes Yes
Credit/Debit card No No
Electronic wallets No No
Withdrawal fee $0 $40

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Web trading platform
5.0

Saxo Bank's web trading platform is one of the best among online brokers. It's easy to use, but also provides features favored by professionals, such as an advanced order panel.
Pros Cons
User-friendly None
Clear fee report
Two-step (safer) login
Web trading platform of Saxo Bank, a NinjaTrader alternative
NinjaTrader vs. Saxo Bank: Trading platform scores
Saxo Bank NinjaTrader
Web platform score 5.0 stars -
Mobile platform score 5.0 stars -
Desktop platform score 5.0 stars 4.8 stars

Learn more about Saxo Bank's web trading platform in the detailed Saxo Bank review.

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Markets and products
5.0

Saxo Bank's product portfolio is great. It covers all asset classes and a lot of markets globally. Mutual funds and crypto are the only areas where its selection could be improved.
NinjaTrader vs. Saxo Bank: Markets and products
Saxo Bank NinjaTrader
Stock Yes No
ETF Yes No
Forex Yes No
Fund Yes No
Bond Yes No
Options Yes Yes
Futures Yes Yes
CFD Yes No
Crypto Yes Yes

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Verdict

Saxo Bank is a great broker, providing a complex and good service.

Saxo offers a user-friendly and well-designed trading platform, backed by great research. The product portfolio covers all asset types and many international markets.

It has some drawbacks though. The fees for bonds, options and futures are high. There is also a high minimum deposit for certain countries. Lastly, there is no live chat or 24/7 customer support.

In general, Saxo Bank is one of the best online brokerage companies out there. By opening an account, you will get a broad, well-developed service constantly responding to the needs of clients.

Saxo Bank
Summary Saxo Bank is a Danish investment bank. It is regulated by more than 10 financial authorities, including the top-tier UK FCA.
Fees score 2.9 stars
Recommended for Investors and traders looking for a great trading platform and solid research

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NinjaTrader alternatives
DEGIRO

DEGIRO review - Waiting list

Compare to best alternative

Disclaimer: As of March 25, 2020, DEGIRO has introduced a temporary waiting list for new client registrations, until further notice. This is due to the surge of new registrations amid the ongoing heavy market volatility. Because of this situation, the account creation process may take much longer, although it is uncertain how long exactly. We will update the review as we find out more details. Be also aware that investing involves a risk of loss.

DEGIRO is a Dutch online discount broker. It is privately owned and was established in 2008 by former employees of another brokerage company.

DEGIRO is regulated by top-tier financial authorities, the Netherlands Authority for the Financial Markets (AFM) and the Dutch Central Bank (DNB). It is registered with the Chamber of Commerce and Industry in Amsterdam.

Recommended for price-sensitive buy-and-hold investors and traders looking only to carry out transactions

Pros Cons
One of the lowest fees on the market Waiting list for new accounts
Regulated by multiple top-tier regulators Limited research and education
Easy to use web and mobile trading platform No forex trading

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Waiting list and longer account opening time

Fees
5.0

DEGIRO has low trading and non-trading fees. In most asset classes, it is the best on the market. There are some ETFs that you can trade once a month for free, which is a great deal for buy-and-hold investors.
Pros Cons
Low trading fees Higher trading fees for Asian and smaller European stock exchanges
Low non-trading fees
Low stock and ETF fees
NinjaTrader vs. DEGIRO: Trading fees
DEGIRO NinjaTrader
Apple benchmark fee $1.4 -
Vodafone benchmark fee $5.3 -
EURUSD benchmark fee - -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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Waiting list and longer account opening time

Account opening
1.3

At DEGIRO, no minimum deposit is required. On the other hand, as of March 25, 2020, DEGIRO has introduced a waiting list for new accounts. To test this, we have applied for multiple accounts, but sadly we are still on the waiting list and could not proceed.
Pros Cons
Fully digital Slow
No minimum deposit None of the test accounts have been onboarded yet
NinjaTrader vs. DEGIRO: Minimum deposit, time to open an account
DEGIRO NinjaTrader
Minimum deposit $0 $400
Time to open account >3 days >3 days

If you are interested more in DEGIRO minimum deposit, this overview will help you.

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Waiting list and longer account opening time

Deposit and withdrawal
3.3

DEGIRO deposits and withdrawals are free of charge via bank transfer. On the other hand, you cannot deposit with credit or debit card.
Pros Cons
Free withdrawal Credit/Debit card not available
No deposit fee
Several account base currencies
NinjaTrader vs. DEGIRO: Withdrawal options
DEGIRO NinjaTrader
Bank Transfer Yes Yes
Credit/Debit card No No
Electronic wallets No No
Withdrawal fee $0 $40

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Waiting list and longer account opening time

Web trading platform
4.0

DEGIRO's web platform is simple and easy to use. Even beginners can easily navigate it and buy stocks. On the negative side, you cannot set price alerts.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report No price alerts
Two-step (safer) login
Web trading platform of DEGIRO, a NinjaTrader alternative
NinjaTrader vs. DEGIRO: Trading platform scores
DEGIRO NinjaTrader
Web platform score 4.0 stars -
Mobile platform score 4.5 stars -
Desktop platform score - 4.8 stars

Learn more about DEGIRO's web trading platform in the detailed DEGIRO review.

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Waiting list and longer account opening time

Markets and products
3.6

At DEGIRO you can access many markets and trade with a lot of different products. CFD and forex are not available.
NinjaTrader vs. DEGIRO: Markets and products
DEGIRO NinjaTrader
Stock Yes No
ETF Yes No
Forex No No
Fund Yes No
Bond Yes No
Options Yes Yes
Futures Yes Yes
CFD No No
Crypto Yes Yes

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Waiting list and longer account opening time

Verdict

DEGIRO is a good choice if you want a simple platform and don’t want to spend too much on fees.

It is far cheaper than its big European competitors and only TradeStation Global comes close to competing with DEGIRO's fees. The account opening process is also fast, you will usually have your account ready to use within a day. It is also one of the best trading platforms for Europeans.

However, its low prices come with some shortfalls. Education and research tools are limited, there is no forex trading, and you can only deposit and withdraw money by bank transfer. Also, there is a waiting list for new accounts at the moment.

All in all, DEGIRO is a great online broker. There is no minimum deposit and no inactivity fee, so feel free to go ahead and give it a try.

DEGIRO
Summary DEGIRO is a Dutch discount broker established in 2008. It is regulated by the Dutch FMA. As of March 25, 2020, DEGIRO introduced a waiting list for new customers. Longer than usual account opening times are expected.
Fees score 5.0 stars
Recommended for Price-sensitive buy-and-hold investors and traders looking only to carry out transactions

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Waiting list and longer account opening time

NinjaTrader alternatives
Bottom line

Based on our analysis, there are several good alternatives to NinjaTrader. They all offer similar products and target similar customers. Here's a recap of the results in a table.

NinjaTrader alternatives
Broker Info Recommended for
NinjaTrader Global platform provider focusing on futures trading Active traders focusing on futures
Interactive Brokers US discount broker Traders looking for low fees and a professional trading environment
Saxo Bank Danish investment bank Investors and traders looking for a great trading platform and solid research
DEGIRO Dutch discount broker Price-sensitive buy-and-hold investors and traders looking only to carry out transactions

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.

Gergely Korpos

Gergely Korpos

Co-founder, CPO

Author of this article

Gergely is the co-founder and CPO of Brokerchooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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