Interactive Brokers vs. Ninjatrader – A Detailed Comparison
Discover our detailed comparison of Interactive Brokers and Ninjatrader to help determine which is best for you. Whether you’re a seasoned trader or just starting out, choosing the right platform can significantly impact your trading experience.
To make your research easier, we manually found key data for Interactive Brokers and Ninjatrader across the internet and compiled it all in this article.
- Advanced order types
- Best for automated trading
- Low options commissions
- Best for futures trading
- Advanced order flow tools
- Solid charting tools
Overview of Interactive Brokers
Interactive Brokers (IBKR) is a well-established brokerage firm founded in 1978, known for providing advanced trading and investing services to a diverse clientele, including individual investors, institutions, and professional traders. IBKR offers competitive pricing for options and futures, but lacks when it comes to charting and ease of use.
✓ Advanced order types
✓ Best for automated trading
✓ Low options commissions
Interactive Brokers is Best For
Interactive Brokers is best for advanced traders who prefer to automate their trading strategies. IBKR is far from beginner-friendly, as the platforms are advanced and require some technical knowledge to utilize effectively. If you are looking for a modern, easy-to-use investing platform, IBKR is not your best option.
Overview of Ninjatrader
NinjaTrader is a futures trading platform known for its advanced charting, trade simulation, and market analysis tools, targeting active traders who require detailed technical analysis capabilities and automated trading strategies. NinjaTrader has extremely competitive commissions for futures contracts, but doesn’t support many other assets. There is also a minimum account activity fee, so you must trade at least once per month to avoid this $25 fee.
✓ Best for futures trading
✓ Advanced order flow tools
✓ Solid charting tools
Ninjatrader is Best For
NinjaTrader is best for those specifically looking to trade futures. It has much lower futures commissions than the bigger brokers, but it does not directly support equity trading.
Key Characteristics of Interactive Brokers and Ninjatrader
| Platform | Platform Type | Tradeable Assets | Charting Features | Data | Premium Pricing |
|---|---|---|---|---|---|
| Interactive Brokers | Brokerage Platform | Stocks, ETFs, Mutual Funds, Options, Futures, Futures Options, Crypto, Bonds | Downloadable desktop platforms, web platform, mobile app | Must buy real-time data | No premium features |
| Ninjatrader | Futures Brokerage Platform | Futures, Futures Options, Forex | Free charting platform + premium charting option including volume profile and footprint | Real-time data with funded account | $99 per month or $1,499 lifetime for reduced commissions |
Trading Features and Tools
| Platform | DRIP | Margin Trading | Insurance | Mobile App |
|---|---|---|---|---|
| Interactive Brokers | Yes, but with fees | Yes | SIPC Insured | Yes |
| Ninjatrader | No equity | Yes | Not insured | Yes |
Trading Costs and Commissions Compared
| Fee Type | Interactive Brokers | Ninjatrader |
|---|---|---|
| Equity Commission | Free | No equity |
| Option Commission | $0.65 per contract | No equity options |
| Futures Commission | $0.85 per contract, $0.25 micro | $1.29 per contract, $0.35 micro |
| Futures Options Commission | $0.85 per contract, $0.25 micro | Not specified, likely the same as regular futures |
| Option Exercise Fee | None | None |
Interactive Brokers vs Ninjatrader – Bottom Line
Choosing between Interactive Brokers and Ninjatrader depends on your specific trading needs, preferred trading tools, and the type of assets you’re interested in.
Both platforms offer distinct advantages, but by considering the detailed comparison above, you can select the one that aligns best with your trading strategy and goals.
For more detailed reviews and comparisons, continue exploring our other articles on brokerage platform comparisons.
What is the Overall Best Charting Software?
I have reviewed and used nearly every trading platform available, and I believe that TradingView is the best overall charting software available. Here are some reasons why:
- All of TradingView’s key features are free to use
- TradingView provides real-time data for free whenever possible
- You are not tied to a single broker and can use whichever you want while charting on TradingView
- You can track all markets on a single platform, including stocks, ETFs, crypto, forex, and futures.
- TradingView has an excellent economic calendar and various screeners
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