Investing Trading Day Trading Opening a NinjaTrader Trading Account in Australia By Cory Mitchell Cory Mitchell Cory Mitchell, Chartered Market Technician, is a day trading expert with over 10 years of experience writing on investing, trading, and day trading for publications including Investopedia, Forbes, and others. learn about our editorial policies Updated on April 25, 2022 Reviewed by Gordon Scott Fact checked by Aaron Johnson Photo: Drew Angerer / Getty Images NinjaTrader is one of the most popular trading platforms for futures and foreign exchange (forex) day traders. It's simple to use and designed for traders who want to customize their platform for quick trade executions and efficiency. NinjaTrader is customizable and allows you to build strategies so stop loss and target orders are sent out as soon as you enter a trade. This feature is recommended for all day traders. If you lose your internet connection, your data provider goes down, or you disconnect from your broker, those stop losses and targets may help you avoid a financial catastrophe. Key Takeaways NinjaTrader is a customizable trading platform and allows you to build strategies so stop loss and target orders are sent out as soon as you enter a trade.If you're a day trader in Australia and are considering using NinjaTrader, the first part of the process would be to open a demo account that lets you practice trading on the platform.If you like the trading experience, you can transition to a funded trading account. Demo Account If you're a day trader in Australia and are considering using NinjaTrader, the first part of the process would be to open a demo account that lets you practice trading on the platform without putting real money at risk. At NinjaTrader.com, click Open Account. Select Buy Platform. Then click Download. Enter your email address and click Download again. You will be asked whether you want free live market data. If you don't, you will be directed to a page where you will be asked to select your version of NinjaTrader, either 8 or 7. If you do want the data, you will first need to select your asset class and enter your name, phone number, and country. When you download your version of NinjaTrader, your login credentials will be emailed to you by Continuum/CQG. You will also get an email from NinjaTrader that provides a link to information on connecting to NinjaTrader Continuum as well as links to training webinars, online help, and a video library. Educational Features NinjaTrader offers many educational tools and functions. For example, you can browse through the video library for tutorials on various features of the platform. One of the best tools for day traders, aside from nearly endless add-ons for trading, is the Market Replay. The Market Replay feature lets you download past trading sessions and review them as if you were trading live, in real time. It's a helpful educational tool and enables you to accelerate your learning by trading multiple sessions in a single day. Trading Account If you like the trading experience, you can transition to a funded trading account. For futures or options, you will have to choose between Phillip Capital or Dorman Trading as NinjaTrader Brokerage's partner trading firm. For forex, you will have to choose between FXCM Australia or City Index. The minimum deposit to open a futures trading account, with NinjaTrader Brokerage, is US$1,000. For popular futures such as the E-mini S&P 500 (ES), day trading margins are US$500. Commissions vary depending on whether you buy the NinjaTrader platform (59 U.S. cents a side), lease it (89 U.S. cents a side), or use the free version (US$1.19 a side). A table of average spreads for currency and currency forward trades is available at FXCM's website. High-volume traders, called Active Traders, are eligible for discounted spread costs. A table of those spreads is also on the website. According to City Index's website, there's no minimum deposit to open a forex account. Tables of average spreads for currency and currency forward trades are available on the website. Platform Pricing Leasing the NinjaTrader platform costs US$720 a year in a single payment, US$850 total in two semiannual payments of US$425, or US$900 total in four quarterly payments of US$225. Purchasing the platform outright costs US$1,099 in a single payment or US$1,316 in four consecutive monthly payments of US$329. Was this page helpful? Thanks for your feedback! Tell us why! Other Submit Sources The Balance uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read our editorial process to learn more about how we fact-check and keep our content accurate, reliable, and trustworthy. NinjaTrader. "SetStopLoss()."