NinjaTrader vs Thinkorswim

NinjaTrader is primarily tailored for active traders focused on futures and forex markets, while thinkorswim offers a more comprehensive trading experience with a broad range of assets, including stocks, options and ETFs, making it versatile for various trading styles.

Regarding trading platforms, both NinjaTrader and thinkorswim (now part of Charles Schwab) stand out for their advanced tools and robust features. Each platform caters to different types of traders. NinjaTrader is designed with futures and forex traders in mind, offering highly customizable tools and focusing on active trading strategies. On the other hand, thinkorswim is a powerhouse for traders who want access to a wide variety of assets, including stocks, options and ETFs, all in one place. Let’s dive into how these platforms compare and which one might better fit your trading style.

NinjaTrader vs thinkorswim: What’s the Difference?

When comparing NinjaTrader and thinkorswim, the key difference lies in the markets they focus on and the depth of features they offer.

Accounts and Features

NinjaTrader is well-known for its specialized focus on futures and forex trading. The platform offers a highly customizable trading environment with advanced tools like automated trading strategies and backtesting capabilities. NinjaTrader’s brokerage services are available, but users can connect to other brokers through the platform.

thinkorswim, now under Charles Schwab, offers a more extensive range of tradable assets, including stocks, options, ETFs and futures. The platform is highly regarded for its tool suite, catering to beginners and advanced traders. thinkorswim also integrates research, analysis and trading into a single platform, providing a seamless experience for traders of all levels.

The Better Platform: It’s a tie. Choose NinjaTrader if you’re focused on futures and forex and thinkorswim if you want broader asset coverage.

Fees and Commissions 

NinjaTrader’s fee structure is designed with active traders in mind. It offers low-cost futures trading with options for per-trade pricing or a lifetime license that reduces fees. For futures, commissions can be as low as $0.09 per contract.

thinkorswim, while offering commission-free trading for stocks and ETFs, charges higher fees for futures trading, with rates starting around $2.25 per contract. Options trades incur a fee of $0.65 per contract, which is competitive but higher than some dedicated options platforms.

The Better Platform: NinjaTrader, for its lower fees on futures trading.

Desktop, Web and Mobile App Trading

NinjaTrader’s desktop platform is its crown jewel, offering unparalleled customization and advanced tools. However, it lacks a dedicated web and mobile trading app, which may limit flexibility for traders on the go.

thinkorswim shines with its fully integrated trading experience across desktop, web and mobile. The mobile app is particularly intuitive, offering nearly all the features of the desktop version, making it ideal for traders who need flexibility and accessibility.

The Better Platform: thinkorswim, for its comprehensive mobile and web trading options.

User Benefits

NinjaTrader offers a specialized experience with tools like automated trading and advanced charting, but it’s tailored primarily to experienced traders. Meanwhile, thinkorswim provides a more well-rounded experience with tools and resources that cater to a wider audience, including extensive educational materials and research.

The Better Platform: thinkorswim, for its broad range of user benefits.

Backtesting

NinjaTrader excels in backtesting, offering detailed simulations that allow traders to test their strategies using historical data. This highly customizable feature lets traders tweak variables and analyze potential outcomes in-depth.

thinkorswim also offers backtesting through its thinkBack tool, but it’s not as detailed or customizable as NinjaTrader’s offering, making it better suited for more general strategy testing.

The Better Platform: NinjaTrader, for its superior backtesting capabilities.

Simulated Trading

Both platforms offer simulated trading, allowing users to practice without risking real money. NinjaTrader’s simulation is integrated with its backtesting features, providing a seamless experience for testing strategies.

thinkorswim offers paperMoney, a popular simulated trading environment mimicking live trading conditions, making it ideal for beginners and experienced traders.

The Better Platform: It’s a tie – NinjaTrader for integration with backtesting and thinkorswim for a user-friendly simulation environment.

Charting Tools

NinjaTrader is renowned for its advanced charting tools, which offer various technical indicators, drawing tools and customizable charts. It’s a dream come true for traders who rely heavily on technical analysis.

thinkorswim also offers charting tools, with plenty of technical indicators and the ability to create custom studies. It’s generally seen as more user-friendly, making it accessible to traders who may not need all the bells and whistles.

The Better Platform: NinjaTrader, for its depth of customization in charting tools.

Tradable Assets

NinjaTrader primarily focuses on futures and forex, offering limited options outside these markets. This makes it ideal for traders who specialize in these areas but less suitable for those looking to diversify.

thinkorswim offers a vast array of tradable assets, including stocks, options, ETFs, futures and forex, providing a one-stop-shop for traders looking to build a diversified portfolio.

The Better Platform: thinkorswim, for its extensive range of tradable assets.

Ease of Use

NinjaTrader is powerful but has a steeper learning curve, making it less accessible to beginners. Once mastered, it offers unparalleled customization and control.

While still complex, thinkorswim is more intuitive and offers extensive educational resources, making it easier for new traders to get up to speed.

The Better Platform: thinkorswim, for its user-friendly interface and educational resources.

Customer Support

NinjaTrader offers support primarily through email and a help forum, with limited live support options. It’s sufficient but may not meet the needs of users who prefer immediate assistance.

thinkorswim, backed by Charles Schwab, offers customer support with options for live chat, phone support and in-person assistance at Schwab branches. This makes it easier to get help when you need it.

The Better Platform: thinkorswim, for its comprehensive customer support.

Market Data and Research

NinjaTrader provides essential market data and some research tools, but it focuses more on technical analysis than broad market research.

thinkorswim offers extensive market data, third-party research and analysis tools, making it a strong choice for traders who value comprehensive market insights.

The Better Platform: thinkorswim, for its extensive market data and research capabilities.

Educational Resource

NinjaTrader offers some educational content, but it’s limited compared to more comprehensive platforms.

thinkorswim excels with a wide range of educational resources, including webinars, tutorials and an active trading community, making it a great choice for traders who value continuous learning.

The Better Platform: thinkorswim, for its superior educational resources.

Safety and Security

Both platforms offer modern security measures, including two-factor authentication and encryption, to ensure the protection of user data and funds.

The Better Platform: It’s a tie – both NinjaTrader and thinkorswim offer strong security measures.

Which Platform is Best Overall?

Choosing between NinjaTrader and thinkorswim depends largely on your trading focus and experience level. NinjaTrader is ideal for experienced traders specializing in futures and forex, offering advanced tools and lower fees for these markets. thinkorswim, on the other hand, provides a more comprehensive trading experience with a wider range of assets and superior support, making it suitable for traders of all levels, especially those looking for versatility.

Frequently Asked Questions