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MT4 vs. Ninjatrader – A Detailed Comparison

Discover our detailed comparison of MT4 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 MT4 and Ninjatrader across the internet and compiled it all in this article. 

Overview of MT4

Meta Trader 4 (MT4) is a charting platform that is mostly used by Forex traders. You can also chart stocks and other assets depending on which broker you connect.

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.

Key Characteristics of MT4 and Ninjatrader

FeatureMT4Ninjatrader
Platform TypeCharting and Trading SoftwareFutures Brokerage Platform
Tradeable AssetsNot a brokerFutures, Futures Options, Forex
Charting FeaturesFree charting platformFree charting platform + premium charting option including volume profile and footprint
DataDepends on brokerReal-time data with funded account
Premium PricingFree, just connect a broker$99 per month or $1,499 lifetime for reduced commissions

Who is MT4 Best For?

MT4 is best for those who already have a broker tha is compatible with it. Otherwise, there are much better charting platforms like TradingView or TrendSpider.

Who is Ninjatrader 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.

Trading Features and Tools

FeatureMT4Ninjatrader
DRIPNot a brokerNo equity
Margin TradingNot a brokerYes
InsuranceNot a brokerNot insured
Mobile AppYesYes

Trading Costs and Commissions Compared

Fee TypeMT4Ninjatrader
Equity CommissionNot a brokerNo equity
Option CommissionNot a brokerNo equity options
Futures CommissionNot a broker$1.29 per contract, $0.35 micro
Futures Options CommissionNot a brokerNot specified, likely the same as regular futures
Option Exercise FeeNot a brokerNone

MT4 vs Ninjatrader – Bottom Line

Choosing between MT4 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

If you sign up for a TradingView account using my affiliate link, you can get a 30-day free trial of its premium features plus a $15 credit toward your subscription. However, signing up for a free trial is not required, and you can use nearly all of its features with a basic free account. You can read my full review of TradingView to learn more. 

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