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Risk warning: CFDs and leveraged products carry a high risk of rapid loss. The majority of retail investor accounts lose money trading them. Futures brokers are priced by commission per contract, not spreads, so “pips” and “commission-based” are not directly comparable — and a 0.0-pip raw spread never includes the commission charged on top. Minimum deposits, leverage caps, product availability and investor protection depend on the entity that serves your country, and several brokers listed do not accept clients from every jurisdiction. Educational information only — not financial advice.
NinjaTrader review
Rating is our editorial assessment — not an aggregate of user reviews.
Futures-only broker and platform with per-contract commissions from $0.09.
Key facts
| Regulation | CFTC, NFA — Brokerage is NinjaTrader Clearing, LLC (NFA ID 0309379) — the same FCM behind Tradovate. Owned by Kraken since 2025. |
|---|---|
| Client eligibility | US broker; accepts non-US clients in selected countries only. |
| Min deposit | $0 |
| Pricing | Commission-based — From $0.09/side on micros (Lifetime plan); $0.39 on the free plan |
| Same brokerage as | Tradovate — one FCM behind both brands, same commissions and margins. Our rating reflects the platform, not a separate brokerage. |
| Platforms | NinjaTrader Desktop, NinjaTrader Web, NinjaTrader Mobile, TradingView, Tradovate |
| Instruments | Futures, Futures Options, Event Contracts |
| Founded | 2003 |
Indicative figures — spreads are variable, commissions and minimum deposits vary by account type and by the regional entity serving you. Confirm current terms on NinjaTrader’s website. Last reviewed: 2026-07.
Our verdict on NinjaTrader
NinjaTrader is a futures-only route with some of the lowest per-side commissions available, but the cheapest tier is gated behind a $1,499 one-time Lifetime licence. Treat it as a platform and pricing-plan decision rather than a separate brokerage: the account is held at NinjaTrader Clearing, LLC, the same FCM that stands behind Tradovate.
Best for
- ✓Active index-futures traders whose volume can amortise the $1,499 Lifetime licence
- ✓Traders who want free desktop charting with market replay for structured practice
Look elsewhere if
- ✕Traders who also need spot forex, stocks or spot crypto — this is futures and futures options only
- ✕Traders shopping it against Tradovate expecting a genuinely different broker or different commissions
Watch out:NinjaTrader and Tradovate are the same FCM — NinjaTrader Clearing, LLC (NFA ID 0309379), owned by Kraken since 2025 — on the same commissions. Choosing between them changes your front end, not your execution terms, and it does not spread your counterparty risk across two firms.
Pricing: the licence changes the arithmetic
The advertised $0.09 per side on micros applies on the Lifetime plan, which requires a $1,499 one-time licence. On the free plan the same micro contract costs $0.39 per side. The gap is thirty cents, so the licence only starts paying for itself somewhere around five thousand micro sides — roughly two and a half thousand round turns — and only if that volume is realistic for how you actually trade. Traders who take a handful of MES or MNQ positions a week will not get there, and should price the free plan honestly instead.
Cost comparisons across this list need the same discipline. AMP Futures quotes from $0.15 per side but bills platform, data-feed and exchange fees separately, so its all-in figure depends on which of its fifty-plus platforms you pick. Interactive Brokers charges $0.25 per micro contract with no account minimum and no inactivity fee. TradeStation starts at $0.50 per micro side, falling to $0.25 at its top tier. Headline per-side numbers are not comparable until the licence, subscription and data layers are added on top.
Platform and market access
Access covers futures, futures options and event contracts. There is no spot forex, no stock trading and no spot crypto, so anyone wanting to hold BTC, ETH or SOL outright has to look elsewhere — eToro and Interactive Brokers are the entries here offering spot crypto — IBKR only to eligible clients and outside SIPC cover. For an ES, NQ, YM and GC trader that narrowness is not necessarily a problem: it is exchange-traded exposure with the transparency that brings, rather than a CFD written against a broker's own book.
The front-end choice is unusually wide for a single brokerage: NinjaTrader Desktop, Web and Mobile, plus TradingView and the Tradovate interface, all reaching the same account. Free desktop charting with market replay is genuinely useful for reviewing sessions and rehearsing execution without risking capital. Intraday margins from $50 on micro index futures are advertised as an advantage, but that ratio cuts both ways: the smaller the margin behind a contract, the faster an adverse move consumes the account. Size positions off risk, not off the minimum margin allowed.
Pros
- + Commissions from $0.09 per side on micro contracts (Lifetime plan)
- + Free desktop, web and mobile platforms with market replay
- + Intraday margins from $50 on micro index futures (MES, MNQ) — high leverage magnifies losses as well as gains
Cons
- − Same FCM and same commissions as Tradovate — a front-end choice, not a separate brokerage
- − Futures and futures options only — no spot forex, stocks or spot crypto
- − The cheapest commissions require a $1,499 one-time Lifetime licence
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