MetaTrader vs. NinjaTrader – Side by Side Comparison

Online trading of financial markets has gained popularity all over the world. However, it is vital to find a good trading platform.

Let’s compare MetaTrader4 against NinjaTrader. First of all, it is possible to download both of them free of charge, but hidden costs do exist. Interestingly, MetaTrader is also known as MT4. 

MetaTrader vs. NinjaTrader, do you know which one is better? Let’s find out!

As a reminder, MetaTrader4 is a world-famous trading platform, and NinjaTrader is the leader in the independent category. However, it is mostly popular in the U.S.

It is hard to imagine the modern world without trading platforms. So, it is hard to overstate the importance of trading platforms. 

Traders have different requirements when it comes to strategies, risk management, etc. So, it isn’t an easy task to find a trading platform that suits thousands of traders. 

Let’s start with MT4. As stated above, the topic of the article is MetaTrader vs. NinjaTrader. 

Do you know who created the MT4 trading platform?

History of MetaTrader4

The above-mentioned trading platform was created by MetaQuotes Software Corporation. What’s interesting is that the trading platform created by the Cyprus-based company remains the market leader. 

There was a time when MT4 was the only good option. Five years later, MetaQuotes Software Corporation launched the MT5 platform. It was conceived as a successor to the MT4. However, the new platform failed to meet expectations. 

In spite of its unmatched success, the developer officially stopped supporting the above-mentioned trading platform. 

While MT4 is available as a download from its developer’s website, the newer version installs instead. 

As stated earlier, the MT5 is struggling to gain popularity. Let’s get back to MT4.

It is noteworthy that the above-mentioned trading continues to dominate the market. In our opinion, the MT4 is one of the best trading platforms in the world. 

Interestingly, a broker pays an upfront fee of $100,000 for a full license. Moreover, brokers have to pay thousands of dollars every month for hosting, bridging, hiring 24/5 support, and other services.

However, many new brokers choose White Label, which is way cheaper than the full license.

We need to mention social trading when it comes to MT4, available at the above-mentioned trading platform through third-party add-ons. 

NinjaTrader and history

Now, let’s focus on the NinjaTrader. 

The trading platform mentioned above is the flagship product of the NinjaTrader Group. The history of the company dates back to 2003. 

Unfortunately, NinjaTrader is not as popular as MT4. Interestingly, hundreds of developers created more than 1,000 add-ons. 

In spite of its relatively small “fan base,” the above-mentioned trading platform is the leader in independent trading platform development.

MetaTrader vs. NinjaTrader

MetaTrader or NinjaTrader? That is a really good question.

As a reminder, MT4 is a very popular trading platform. It is widely available, as almost every broker maintains MT4. 

It is worth mentioning that the out-of-the-box version of the trading platform mentioned above is already well-equipped. For example, the MT4 comes with numerous built-in technical indicators as well as graphic objects. 

Together, they provide forex traders with the necessary tools for actual market analysis, etc. 

As you can see, MT4 has a number of advantages over NinjaTrader. However, NinjaTrader also has its advantages over MT4.

For example, Chart customization is superior in NinjaTrader compared to MT4. Importantly, the ability to connect numerous charts together provides a distinct advantage. 

Furthermore, developers can code in C#, and the trading platform mentioned above supports all Windows.Net functions.

It is noteworthy that itr rival comes with its own language, MQL, and requires some adjustments. We shouldn’t forget that NinjaTrader supports the OCO (one cancels the other) order function. 

MT4 or NinjaTrader: Which one is better for automated trading solutions?

MT4, as well as NinjaTrader, fully supports automated trading. 

NinjaTrader offers more than 1000 unique automated trading strategies. What about MT4? It features thousands of autonomous trading robots as well as custom indicators. 

NinjaTrader is more developer-friendly compared to MT4. However, its rival remains the better option for automated trading solutions. 

Important details 

We can’t finish the NinjaTrader review without mentioning one important topic. 

Do you know how much you need to pay in order to use NinjaTrader? 

First, let’s take a look at MT4. More than 1000 brokers maintain it; however, the vast majority of forex brokers offer the basic version only. Interestingly, the majority of licenses, especially by smaller brokers, are obtained through a White Label solution, which can cost as little as $5,000. As a reminder, the price of a full license is $100,000. 

Thousands of third-party add-ons are at your disposal, and while numerous free third-party add-ons exist, the quality upgrades often come at a cost. However, it is possible to trade live markets with all necessary tools free of charge with the trading platform mentioned above. 

What about NinjaTrader? It is way more expensive compared to MT4. For example, 

the most practical solution of live trading is the one-time lifetime license fee of $1,099, which is comparable to the free version of its rival. 

To sum up, both platforms have their advantages and disadvantages. So, there is no right or wrong answer when it comes to MetaTrader vs. NinjaTrader.

It is desirable to spend some time on various details in order to select the platform that best suits your needs. 

How to choose Forex brokers

As we already discussed MT4 and NinjaTrader, we can discuss other important topics as well. 

Let’s learn more about the forex market. 

First of all, you have the ability to place bets on currencies through forex brokerage accounts, buying or selling currency pairs that react to various events. 

As a reminder, the world’s largest financial market is open 24 hours a day and six days a week, 

opening on Sunday afternoon in the United States and closing after stock traders complete their business on Friday afternoon. As stated above, the forex market is the largest financial market in the world. 

It takes time and effort to select a forex broker. First of all, you need to decide for yourself 

what type of investor you are. Moreover, you need to think about your goals. 

Each broker has its pros and cons. You should pay attention to regulations, transaction fees as well as the level of security provided by a broker. 

It is better to select brokers that have integrated security features. For example, two-step authentication. To cut a long story short, you need to pick a broker that has the ability to keep accounts safe from criminal groups. 

We also need to mention that the vast majority of forex brokers are regulated. For example, brokers in the U.S. are regulated by the National Futures Association (NFA). They are also regulated by the Commodity Futures Trading Commission (CFTC).

Other countries also regulate forex brokers. For instance, Germany, Canada, Switzerland, and others. To make a long story short, it is better not to trust unregulated brokers.