Can You Trade Forex on NinjaTrader?

Forex trading helps you capitalize on price fluctuations of various currencies, but not every broker lets you trade forex. Furthermore, the forex brokerage firms that let you trade currencies have varying tools. Some offer exceptional forex trading tools, while others offer limited resources to traders. You will discover if you can trade forex on Ninjatrader and some details to consider before starting.

What You Can Trade on NinjaTrader

NinjaTrader lets investors trade forex futures. While you can’t trade forex directly on the platform, these leveraged contracts increase the volatility of a trader’s returns. When a trade goes your way, it’s better to have a futures contract than the underlying position.

However, forex futures aren’t the only assets you can trade on NinjaTrader. The company specializes in futures contracts for various commodities, cryptocurrencies and stock indices. 

If you connect NinjaTrader with a brokerage, you can then use it to trade stocks, options and CFDs. Most forex brokers don’t require much money to get started. In fact, you can start forex trading with $100 or less.

Best NinjaTrader Supported Forex Brokers

NinjaTrader is one piece of your forex trading tools kit. You must still choose the right forex brokerage account that aligns with your trading preferences and long-term financial goals. These are some of the best NinjaTrader supported forex brokers to consider.

Best for Low Spreads: FOREX.com

Why We Picked It: FOREX.com offers spreads as low as 0.00 pips on 80 foreign exchange pairs. The forex broker also offers 5% cashback bonus on your initial deposit and 4% APY on your idle cash if you have a VIP account. The 4% APY applies for balances between $10,000 to $500,000. Any balance above $500,000 qualifies for 1.5% APY. 

Best for Low Margin Rates: Interactive Brokers

Why We Picked It: Interactive Brokers offers a wide range of trading tools but it also has some of the lowest margin rates in the industry. Margin rates range from 4.83% to 6.83% depending on your account’s balance and whether you use IBKR Lite or IBKR Pro. It’s also a stock broker that offers a wide range of assets beyond forex.

Best for High Leverage: FxPro

Why We Picked It: FxPro offers leverage of up to 1.50 while letting investors choose from more than 2,100 assets. The brokerage firm has tight spreads across more than 70 forex pairs. The brokerage firm has more than 11 million active customers. 

Best for Trading Tools: FXCM

Why We Picked It: FXCM allows customers to utilize all trading strategies including scalping. It also has a suite of trading tools including preloaded tools like Real Volume, Market Depth and Trader Sentiment. You can customize FXCM’s trading platform by downloading indicators, creating watch lists and creating a custom layout.

Optimizing Your Forex Trading Strategy with NinjaTrader

NinjaTrader is a great resource for forex traders who want exposure to futures. Traders can also benefit from NinjaTrader charting tools, order flow analysis and other resources. It’s a great supplement for any forex trading strategy. Pairing it with the right brokerage account can provide a higher quality trading experience and potentially higher profits. 

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