Only Demo Trading
Not Placing Live Trades on NT7 (NinjaTrader7)
Placing Trades On Another Platform e.g. Nadex Only OR
Trading On Another Platform (e.g. TOS/Esignal/Tradestation/etc.)
DEMO KEY ONLY
Explanation:
With a free NT7(NinjaTrader7) key, you can connect to multiple broker data feeds. All functions will work, with the exception of one: You can’t place live futures, Forex or stock trades. (You can place demo trades in real time.) However, if trading on another broker platform or a web based form, you don’t need anything but the free NT7 key. If you’re trading futures/Forex/stocks, it is recommended that eventually you move over to a Ninja approved broker, as it will unify everything and make it easier. But, in order to get going, using the platform and having access to the tools, a free key will work perfectly fine.
If connected to two different platforms, Always Connect to the FUTURES ACCOUNT First, i.e., NTB (Ninja Trader Brokerage.)
In the sections that follow, find your situation and the information that will aid you in trading. You will find out what is necessary in order to execute trades in each given scenario.
[b]Futures Only[/b]
You can trade Futures on any platform you want and use a free NT7 key for the full functional demo version with live data. You just can’t trade live through it. (Note: NinjaTrader Brokerage offers better margins and better commission rates than nearly any other platform or broker out there. Both work on the NinjaTrader platform, so eventually, you’re going to want to move just for financial reasons alone.) Just change the key after subscribing either quarterly, annually, or you can buy it for life. Most people start with quarterly once they get the platform down.
OR
You do not need Forex data if trading only Futures, so you don’t need FXCM.
If you have a comp key or a single broker leased/paid key, you will not be able to connect to both NTB and FXCM, as they are two different brokers.
HOWEVER
You can connect to Kinetick or IQ feed in addition to NInjaTrader, with a free key or single broker paid/leased key. They are only data feeds, not brokers, so they can be connected at the same time as NTB, (ALWAYS connect to NTB/CQG first) The issue is you can’t load enough data on Kinetick or IQ feed since they don’t provide enough tick data.
NTB Futures will give you a free live key. Again, this limits you to one broker: NTB only. But you can do other data feeds like IQfeed or Kinetick. You may want IQfeed if you want volatility indices like the VIX, etc., for the choppy market warning. This is not required and is advanced. It is suggested that you don’t add it until you’re using profits to pay for it.
A Free broker key for live trading is a single broker key and does not have chart trader, ATM strategy or Static DOM enabled. You need to buy a single broker license key for this.
Futures Live and Nadex Forex
If you want to trade Nadex Forex binary or spread options, you’re going to need a Forex data feed. So, if you have a comp key or a single broker key, you’re going to have to get data through both FXCM and either NTB(Continuum) or NTB(CQG) Or, you’re going to have to upgrade to a multi-broker key so, you can feed a free FXCM feed to be able to trade the Nadex Forex option contracts.
Forex Only
You can trade Forex on any platform you want and use a free NT7 key for the full functional demo version with live data. You just can’t trade through it. Eventually, you will get tired of this and want to combine everything into just NT7, but it is an option. If your doing this you can use a sim account so you can get the futures (for futures/forex volume) and fxcm on a free ninja sim key.
OR
You can get a free account by opening an account with a minimum of $5000 at FXCM. This requires a minimum round turn of 500,000 units or 50 round turns of 10,000, etc., mix and match however you want in order to hit the unit threshold. You subscribe to the NT7 key and they credit you the balance each month. You can contact them for more details about this, if you are interested. You can then basically get the rebate for the single monthly fee and then use that plus the extra cost to have a multi broker live key. This will enable you to have futures forex data and forex on the same chart.
Note: You do need Futures data for Forex, as you need the volume from futures Forex contracts like 6E, 6J etc., to get accurate exchange Forex volume for your spot Forex trades. Spot Forex volume is just tick volume (accumulation of how many times the price changed in a bar and is not accurate for trading). Volume is one of the three essential pieces of trading analysis that you HAVE to have, so this really is not optional. If you’re trading on a Forex platform that does not have futures Forex volume, you are trading blind and don’t know it. Metatrader 4 traders are the guiltiest of this. They don’t know how to use volume on Forex. They are not even aware of the fact that futures Forex can be done because no one teaches it on Metatrader 4. Metatrader doesn’t have Futures data, (at most brokers), so those that use MT4 don’t know how to use volume and they don’t know that they need it.
What does this mean to you?
You have two choices:
One, get the free key by meeting the requirements, (free, meaning rebated to you) and subscribe to something like IQ feed to get the futures data. This will be expensive, as you won’t get the break on CME without having a futures account and connecting to it and IQfeed at least once a month. There is a way to go back and forth, but it is a lot of work and complicated. It is suggested to get a multi-broker key so you can connect to a free NTB/CQG data connection. You will need to renew it once every 3 weeks, but you will have multi-broker connection and trade live.
Or, just trade on another platform, but use NT7 for charting. Eventually, you will get tired of this and want to combine everything into just NT7 but it is an option. No upgrade is required. Just change the key after subscribing either quarterly, annually, or buy it for life. Most people start with quarterly.
Futures & Forex (2 different brokers)
You can trade Futures on any platform you want and use a free NT7 key for the full functional demo version with live data. You just can’t trade through it. (Note: NinjaTrader Brokerage offer better margins and better commission rates than nearly any other platform or broker out there. Both work on the NinjaTrader platform, so eventually you’re going to want to move just for financial reasons alone.) Eventually you will get tired of this and want to combine everything into just NT7, but it is an option.
Or, you can make life a whole lot easier and just get a multi broker key. This will let you combine everything: platforms and both broker accounts into one. No upgrade is required. Just change the key after subscribing either quarterly, annually, or buy it for life. Most people start with quarterly.
Forex Live and Nadex Futures
Same scenario as above; you need futures data even if trading Forex only. You need futures data if you’re going to trade the Nadex future binary and spread options, like the indices and commodities.
Stock Only
You can trade stock on any platform you want and use a free NT7 key for the full functional demo version with live data. You just can’t trade through it. Eventually, you’re going to want to move just for financial reasons alone. No upgrade is required. Just change the key after subscribing either quarterly, annually, or buy it for life. Most people start with quarterly once they get the platform down. No matter what, you are going to need a true tick data feed. Be aware, as some brokers, such as Interactive Brokers or Think or Swim, don’t have true tick data, so you will want to use either IQ feed or Kinetick and then connect to your broker account.
OR
Just get a single broker key and you should be good to go. You don’t need a multi-broker key, if just trading stocks.
Futures and Forex (Same Broker)
You can trade Futures on any platform you want and use a free NT7 key for the full functional demo version with live data. You just can’t trade through it. (Note: NinjaTrader Brokerage offer better margins and better commission rates than nearly any other platform or broker out there. Both work on Ninja Trader platform so eventually, you’re going to want to move just for financial reasons alone.)
Eventually, you will get tired of this and want to combine everything into just NT7, but it is an option.
OR, you can make life a whole lot easier and just get a single broker key. This will let you combine everything: platforms and both broker accounts into one. No upgrade is required. Just change the key after subscribing either quarterly, annually, or buy it for life. Most people start with quarterly.
NinjaTrader Brokerage now offers both futures and forex directly through them. They also give excellent discounted commissions rates on futures with great spreads and fees on forex. Buying a single broker license ninja key from NT and using NTB is the cheapest route to go for live trading on futures and forex.
Be aware as some brokers, like Interactive Brokers, don’t have true tick data. You will want to use either IQ Feed, NTB and/or FXCM for your data, so you may end up wanting a multi-broker key, even if your using IB which gives you access to stocks, futures, and Forex.
Futures and Forex & Stock (Multi Broker)
You can trade Futures on any platform you want and use a free NT7 key for the full functional demo version with live data. You just can’t trade through it. (Note: NinjaTrader Brokerage offers better margins and better commission rates than nearly any other platform or broker out there. Both work on the Ninja Trader platform so eventually, you’re going to want to move just for financial reasons alone.) Eventually, you will get tired of this and want to combine everything into just NT7, but it is an option.
OR, you can make life a whole lot easier and just get a multi-broker key. This allows you to combine everything: platforms and both broker accounts into one. No upgrade is required. Just change the key after subscribing either quarterly, annually, or buy it for life. Most people start with quarterly.
Be aware that some brokers, like Interactive Brokers or Think or Swim, don’t have true tick data. You will want to use either IQ feed or NTB and/or FXCM for your data. You may end up wanting a multi-broker key, even if you’re using IB, which gives you access to stocks, futures, and Forex.
Futures and Forex & Stock (Same Broker)
You can trade Futures on any platform you want and use a free NT7 key for the full functional demo version with live data. You just can’t trade through it. (Note: NinjaTrader Brokerage offers better margins and better commission rates than nearly any other platform or broker out there. Both work on the Ninja Trader platform so eventually, you’re going to want to move just for financial reasons alone.) Eventually you will get tired of this and want to combine everything into just NT7 but it is an option.
OR, you can make life a whole lot easier and just get a single broker key. This allows you to combine everything: platforms and both broker accounts into one. No upgrade is required. Just change the key after subscribing either quarterly, annually, or buy it for life. Most people start with quarterly.
Be aware as some brokers, like Interactive Brokers or Think or Swim, don’t have true tick data. You will want to use either IQ Feed, NTB, and/or FXCM for your data, so you may end up wanting a multi-broker key, even if you’re using IB, which gives you access to stocks, futures, and Forex.
Download NinjaTrader http://ninjatrader.com/
Sign up for NTB Futures https://www.ninjatraderbrokerage.com/free_futures_trading_demo
Sign up for NTB Forex FXCM (use this link not FXCM’s as with NTB 1 broker key will work on both futures and forex if both feeds are from NTB) https://www.ninjatraderbrokerage.com/free_forex_trading_demo
Sign up for IQ Feed