Can I Trade Crypto on NinjaTrader?
If you’re interested in investing in Bitcoin and other cryptocurrencies, NinjaTrader offers several options. Keep reading for more details.
NinjaTrader Bitcoin and Ethereum Contracts
NinjaTrader specializes in futures trading. This means you can trade in futures contracts (and options on futures) but not directly in stocks or ETFs. While NinjaTrader
does not support direct trading of Bitcoin or other cryptocurrencies,
you can trade
cryptocurrency futures contracts available on futures exchanges with a NinjaTrader account.
You can find
Bitcoin and Ethereum contracts on the Chicago Mercantile Exchange. To trade these on NinjaTrader 8, the latest version of the platform, go to the New tab in the title bar and choose Basic Entry from the menu.
A new window will open with a default order ticket. Under Instrument, enter the contract you're interested in. Select Futures and then the specific Bitcoin or Ethereum contract.
Bitcoin’s ticker symbol is BTC, and Ethereum’s is ETH. Enter these as the first three characters in the Instrument field, followed by the month and year the contract expires. For instance, for a Bitcoin contract expiring in May 2024, you would enter BTC 05-24.
The Instrument field also includes a cryptocurrency sub-field. You can choose digital currencies from this menu on the Basic Entry order ticket, but note that live trading of these coins is not available. You can only trade them in simulated mode, which is useful for practicing.
Real-Time Cryptocurrency Data on NinjaTrader
Although NinjaTrader doesn’t support live cryptocurrency trading, it does offer real-time market data through Coinbase. Make sure you are using NinjaTrader version 8.0.15.0 or later and Windows 8 or newer.
To access this feature, click on the Connections tab in the title bar and select configure from the menu. In the resulting window, choose Coinbase from the list of data providers and add it.
Direct Crypto Trading
If you prefer direct trading of cryptocurrencies, consider
Robinhood. Here, you can open an account and trade digital currencies directly.
Robinhood allows you to trade these digital assets:
- Aave (AAVE)
- Avalanche (AVAX)
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Chainlink (LINK)
- Compound (COMP)
- Dogecoin (DOGE)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Litecoin (LTC)
- Shiba Inu (SHIB)
- Steller Lumens (XLM)
- Tezos (XTZ)
- Uniswap (UNI)
- USDC (USDC)
Trading digital currencies on Robinhood is free of commission fees, excluding the bid-ask spread. The minimum trading amount is just $1, and transactions are settled instantly.
Robinhood Promotion
Open Robinhood Account
Stocks, Funds, and Options
While NinjaTrader does not directly offer stock trading, you can trade stocks, ETFs, and options through brokers like Charles Schwab and Interactive Brokers, which integrate with NinjaTrader's platform.
Tech companies like Square are heavily invested in cryptocurrencies. For instance, Square holds several hundred million dollars in Bitcoin, and its subsidiary, Cash App, allows Bitcoin trading.
You can trade Square, which has the ticker symbol SQ, at Charles Schwab or Interactive Brokers using the NinjaTrader 8 platform.
Updated on 7/5/2024.
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