NinjaTrader Launches Forex Brokerage Services NinjaTrader Group, LLC has announced the addition of forex trading to the services available through NinjaTrader Brokerage. Users of the awardwinning NinjaTrader platform can now access the world’s largest and most liquid market directly through a NinjaTrader Brokerage trading account. “We are excited to expand our brokerage services offering with the addition of spot forex”, stated Raymond Deux Founder and CEO of NinjaTrader. “NinjaTrader users have continually recognized the advanced analysis and automation capabilities of the platform are an ideal fit for the highly liquid forex markets. Combined with our Ecosystem of over 450 partners and add-on applications, NinjaTraders’ extensibility allows FX trader’s to customize the platform to match their evolving requirements.” As an Introducing Broker for FXCM, NinjaTrader Brokerage clients will have access to one of the industry’s largest networks of FX liquidity providers. This partnership will deliver savings to NinjaTrader clients through super tight spreads and deep discount commissions as low as $.04 per 1K lot for the major currency pairs. “Adding the foreign exchange markets to our existing futures brokerage services will not only appeal to current forex traders, but also provides a diversification opportunity for futures traders currently trading with NinjaTrader Brokerage,” stated Eliot Wickersheimer, EVP of Brokerage Operations. “The capability to trade both asset classes through a single platform with a one central point of contact for all support and account inquiries appeals to a large segment our clients and we are excited to deliver on their requests for direct access to the forex market.” NinjaTrader Brokerage is immediately available to accept new clients with FXCM as their Forex Dealer Member. Existing forex traders with live trading accounts using the NinjaTrader platform do not have to make any changes to their current brokerage relationships. The award winning NinjaTrader platform is always FREE TO USE for advanced charting, market analytics, automated strategy development and trade simulation. Get started with NinjaTrader Now! Download FREE Futures Data Trial FREE Unlimited FX Real Time & Historical Data Futures and forex trading contains substantial risk and is not for every investor. View full risk disclosure.
Yes, NinjaTrader Brokerage clients that open an FX account will have access to all standard FXCM interfaces including MyFXCM, TS Desktop, TSWeb, and TSMobile.
What are the spreads? Tradestation doesn't charge any trading fees for forex, but their spreads are outrageously high. For example, a $100K trade on the Eur/Usd will cost about $60 due to the high spread. And you can trade in 1 pip increments, but it doesn't help when the spread is 60 pips (or more). With IB, they charge about the same as you (Ninja) and their increments are 5 pips. Their spread is also 5 pips. So basically, it would really help to know the details!
$.04 per 1K lot or $40 per million traded, that's double of what other brokerages charge. How is twice as much equal to super tight or deep discount? I would rather call it super funny.
This is just FXCM Standard Account white labeled for Ninjatrader. 0.2-0.3 pip spread on EUR and JPY. $4.00 on $100,000 lot. That's almost as good as it gets with a U.S. Forex broker.
Support is excellent and they are expanding their staff. The futures business was previously Mirus which was one of the biggest Introducing Brokers. However, NT7 is terribly outdated as a trading platform. The NT8 release should fix this problem. They clear through Dorman which I can only guess has an antiquated back office. The Dorman portal is sparse. I can only imagine that they have to take care of out trades before they generate the EOD statement. If you have ever cleared thru RCG or RJO. It is a world of difference. Of course, you wouldn't be getting rock bottom commissions if Dorman was providing free research and advanced reporting functionality. The forex side is FXCM, I don't even know if a US based forex trader can do better other than IBKR in costs. Nonetheless, FXCM will provide all the back office/portal functions which is as complete as it gets in the forex industry. I don't know what commission world M.ST. is coming from. Probably overseas.
Thank you Xandman for your comment. I am not sure why its useful to open an account with NT (middleman) when you can directly open one with FXCM. I like NT but the lack of mobile app or web based interface is a downside especially if you want to check or modify something when you are not infront of your computer.