NinjaTrader vs TradeStation vs TradingView: Which is the Best Trading Platform for You?

NinjaTrader Platform offers unlimited customizability

When you’re ready to dive into the world of trading — whether it’s stocks, futures, crypto, or forex — choosing the right platform can make a huge difference in your trading experience. I’ve used plenty in my time, from proprietary platforms that CFD firms provide, to the more popular which I will discuss in this post.

Ultimately, you want a platform that fits your trading style, offers the right tools, and is easy to use.

So let’s take a look at three popular trading platforms: NinjaTrader, TradeStation, and TradingView where I will do my best to explore the benefits and drawbacks of each to help you make an informed decision.

NinjaTrader

This is the platform that I have been using for the last 8 years or so. I like it because it’s highly customizable and it so many programable features - did I say I’m a fusspot!?

Pros:

1. Great for Futures and Forex: If you’re looking to trade futures or forex, NinjaTrader is one of the top platforms for these asset classes. It’s robust, fast, and offers lots of advanced charting and order execution features.

2. Powerful Charting Tools: NinjaTrader is known for its excellent charting capabilities and has thousands of Apps and Add-Ons with a large user community. You can customize charts in a way that lets you view everything from simple price action to advanced indicators and custom scripts.

3. Order Types & Execution: NinjaTrader supports a wide range of advanced order types (like OCO orders, bracket orders, etc.) and is known for its low-latency execution, which is crucial for serious traders, especially in futures markets where speed matters.

4. Backtesting and Strategy Building: One of NinjaTrader’s standout features is its backtesting capability. If you have a strategy you want to test, NinjaTrader lets you build, test, and optimize strategies before you risk real money. This is extremely useful for systematic traders who need to assess their strategies' historical performance.

5. Free to Use for Charting and Sim Trading: You can access NinjaTrader for free to use charts, simulated trading, and basic features. If you decide to trade real money, there are commission fees and market data fees that apply.

Cons:

1. Steep Learning Curve: NinjaTrader is packed with features, which can be both a blessing and a curse. While experienced traders will appreciate its flexibility, new traders might find it overwhelming at first. The learning curve can be steep, so you’ll need time to get comfortable with all the tools and settings.

2. Limited Asset Coverage (for Stock Traders): Although NinjaTrader shines in futures and forex, it’s not as comprehensive when it comes to stocks. If you’re primarily interested in stock trading, this may not be the best choice for you.

3. Costly Data Fees: While NinjaTrader offers free charting, you’ll need to pay for real-time data if you want to access up-to-the-minute pricing. The data fees can add up, especially if you’re trading multiple asset classes or need advanced data feeds - although they do have lots of options and basic pricing is not that bad for data.

TradeStation

This is the platform Al Brooks uses. I used it too for a while but for some reason stopped and switched to NinjaTrader although I can’t remember why now! Anyway it is a well known platform which is widely used.

Pros:

1. All-in-One Trading Platform: TradeStation is one of the most comprehensive platforms out there. It provides access to stocks, options, futures, and forex, all from a single platform. This makes it ideal for traders who want to diversify their portfolios across different asset classes.

2. Powerful Strategy Builder: If you’re into algorithmic trading, TradeStation has a powerful strategy builder called EasyLanguage, which allows you to code your own strategies or use pre-built ones. This is a huge plus for quantitative traders or anyone who wants to create automated trading strategies.

3. Great for Stock and Options Traders: TradeStation excels in stocks and options trading, offering advanced features like spread trading, advanced options tools, and multiple order types. If your focus is on equities or options, TradeStation has all the bells and whistles to meet your needs.

4. Reliable Execution: TradeStation’s execution speed is highly praised. Whether you’re a swing trader or looking to scalp the markets, TradeStation delivers solid performance.

5. No Commissions on Stocks and ETFs: For stocks and ETFs, TradeStation offers zero-commission trading, making it very appealing for traders looking to avoid high transaction costs.

Cons:

1. Costs for Futures and Data Fees: While stocks and ETFs are commission-free, futures trading on TradeStation requires a monthly fee, and real-time data fees can be expensive. This can make the platform pricey for active futures traders who need live data.

2. Less Focus on Cryptocurrency: If you’re looking to trade crypto, TradeStation is not as strong as platforms like Binance or Coinbase. While they’ve added crypto trading to their platform, it’s still a secondary offering compared to their core focus on stocks, options, and futures.

3. Not as User-Friendly for Beginners: Much like NinjaTrader, TradeStation is a feature-rich platform, which might be a bit overwhelming for beginner traders. The interface can be tricky to navigate at first, though there’s a wealth of educational content to help you get started.

TradingView

Tradingview is more of a new boy on the scene. However it does rock. I also subscribe to TradingView mainly because I have access to the charts from anywhere - helps me keep an eye on things when away from my main trading desk.

Pros:

1. Amazing Charting: TradingView is widely regarded as having the best charting in the industry. The platform’s intuitive interface lets you zoom in on every detail of the market, customize indicators, and even draw on charts using various tools. It’s fast, smooth, and super responsive.

2. Social Integration: TradingView stands out by combining trading with a social network. You can follow traders, see their ideas and setups, and even share your own. This makes it an excellent resource for learning from others and staying inspired.

3. Cross-Asset Compatibility: TradingView allows you to trade stocks, crypto, futures, and forex. It connects with various brokers, so you can use it as your charting and analysis platform, while still executing trades through your broker.

4. Cloud-Based: One of the best things about TradingView is its cloud-based nature. You can access your charts, layouts, and analysis from anywhere, on any device — whether you’re on a desktop, tablet, or phone.

5. Free Version Available: You can use TradingView for free with limited features. This is a huge advantage for new traders who want to explore charting without any upfront investment.

Cons:

1. Limited Execution (No Broker Integration for Direct Trading): While TradingView excels at charting, it doesn’t provide direct execution on the platform itself for most brokers. You’ll need to execute trades through a third-party broker. This can be an inconvenience for traders who want a fully integrated platform.

2. Data Feeds Are Limited: Although TradingView offers live data for stocks, crypto, and forex, futures data is more limited, especially in the free version. For serious traders who need fast data, this could be a drawback.

3. Not as Feature-Rich for Advanced Strategies: While TradingView is fantastic for charting and basic analysis, it doesn’t offer the same advanced trading features or strategy-building tools as NinjaTrader or TradeStation. If you’re into automated trading or want to develop complex strategies, TradingView may fall short.

Which Platform is Right for You?

The best trading platform for you really depends on your trading style and what markets you’re interested in:

• If you’re a beginner and you value simple, intuitive charts and the ability to easily explore different asset classes, TradingView might be your best choice. It’s user-friendly, has great educational resources, and is highly social, which is perfect for learning and growing.

• If you’re a serious futures or forex trader and you need a platform that offers advanced charting, fast execution, and customization, NinjaTrader will likely be a great fit. It’s tailored for active, short-term traders who want powerful tools without the fluff.

• If you want a comprehensive all-in-one platform that covers everything from stocks to futures and options, TradeStation offers top-tier tools. It’s especially good if you want to create your own strategies or need in-depth analysis for equities and options, but it can be pricey for futures traders.

Ultimately, the best platform is the one that fits your goals, trading style, and budget. All three platforms — NinjaTrader, TradeStation, and TradingView — are excellent, but they each have their own strengths. Take your time, explore their features, and choose the one that feels right for you.