Ninjatrader vs. thinkorswim
Choosing the right trading platform matters, especially when the tools, costs, and supported markets are very different. NinjaTrader and thinkorswim are both popular among active traders, but they are built for very different use cases.
This guide breaks down the key differences so you can quickly decide which platform fits your trading style.
Quick Takeaways
- NinjaTrader is purpose built for futures traders who want low commissions and advanced order flow tools
- thinkorswim is a full featured trading platform best suited for stocks, options, and multi asset trading
- Many traders use both by charting on thinkorswim while executing futures trades elsewhere
- Best for futures trading
- Advanced order flow tools
- Solid charting tools
Overview of NinjaTrader
NinjaTrader is a futures focused trading platform designed for active and professional traders. It is best known for its advanced charting, order flow tools, and trade automation capabilities.
The platform offers extremely competitive futures commissions, especially for high volume traders. However, NinjaTrader does not support stock or ETF trading, and it charges a monthly inactivity fee if you do not place at least one trade per month.
Key Features
- Built specifically for futures and futures options
- Advanced order flow, footprint charts, and volume profile
- Trade simulation and strategy automation
NinjaTrader Is Best For
NinjaTrader is ideal for traders who focus exclusively on futures and want lower commissions than traditional brokers. It is especially popular among intraday futures traders who rely on order flow and execution speed.
Overview of thinkorswim
thinkorswim is a powerful trading platform offered by Charles Schwab. Originally built by Tom Sosnoff, it has become one of the most widely used platforms for stocks, options, and multi asset trading.
Unlike NinjaTrader, thinkorswim is not futures only. It supports equities, ETFs, options, futures, and bonds, all within a single platform. It is free to use with a Schwab account and includes paper trading for strategy testing.
Key Features
- Highly customizable charts and indicators
- Advanced options analysis and probability tools
- Paper trading and built in education
thinkorswim Is Best For
thinkorswim is best for traders who want a single platform to trade stocks, options, and futures. It is especially strong for options traders and technical analysts who value flexibility over ultra low futures commissions.
Key Characteristics Compared
NinjaTrader
- Platform type: Futures brokerage
- Tradable assets: Futures, futures options, forex
- Charting: Free basic charts with paid advanced features
- Data: Real time with funded account
- Pricing: Monthly or lifetime license for reduced commissions
thinkorswim
- Platform type: Trading platform via Schwab
- Tradable assets: Stocks, ETFs, options, futures, bonds
- Charting: Advanced desktop and web platform
- Data: Real time with funded account
- Pricing: No platform fees
Trading Features and Tools
| Feature | NinjaTrader | thinkorswim |
|---|---|---|
| DRIP | No | Yes |
| Margin trading | Yes | Yes |
| Insurance | Not insured | Covered through Schwab |
| Mobile app | Yes | Yes |
Trading Costs and Commissions
NinjaTrader
- Equity trading: Not supported
- Options trading: Not supported
- Futures commissions: ~$1.29 per contract, lower for micros
- Option exercise fees: None
thinkorswim
- Equity commissions: Free
- Options commissions: $0.65 per contract
- Futures commissions: ~$2.25 per contract
- Option exercise fees: None
NinjaTrader vs thinkorswim Bottom Line
The right choice comes down to what you trade.
Choose NinjaTrader if you are a dedicated futures trader who values lower commissions and advanced execution tools.
Choose thinkorswim if you want a powerful all in one platform for stocks, options, and futures with no platform fees.
Many experienced traders end up using both depending on the asset they trade.
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