Multibroker license question.

[futurestrader7]

Hi,

I would like to know how many brokers I can connect simultaneously under multibroker license? I currently have single license, but I would like open an account with more brokers that support the same trading platform.

Thank you

[bltdavid]

Do not confuse the word "multi" with "unlimited".

My understanding(*) is the MB license supports one active connection per
adapter type, whereas the SB license supports one active connection period.

"Adapter" is the underlying connection method, such as Rithmic or Continuum,
and is also called the order feed(**).

Ex #1:
You could open 10 different brokerage accounts from 10 different brokers
from 10 different companies, all supporting NinjaTrader, and setup 10 different
accounts with 10 different credentials inside NinjaTrader, but if they all use
Continuum, with an SB license obviously you're limited to connecting to one
of them at a time -- but an MB license will not change this limitation.

Ex #2:
TopstepTrader/Rithmic and NinjaBrokerage/Continuum can connect and
trade simultaneously using an MB license -- works great. IB has their own
order feed adapter, so you could even have them as a 3rd acct, and TD
(again, separate adapter) could be a 4th acct still.

Ex #3:
Having multiple accounts at the same broker only counts as one connection,
because the same credentials are used to connect to the one broker, and
then all accounts for that broker are shown in the Accounts dropdown. This
is your a-ha moment! Why? See next example.

Ex #4:
Let's re-consider example #1 -- It may be better to have multiple accounts
at the same broker rather than multiple accounts at different brokers. In
fact, if you have 10 different accounts at the same broker, you would see
all 10 accounts in NinjaTrader's Account dropdown after making just a single
connection -- and (drum-roll, please) you don't need an MB license -- yep,
10 accts from 1 broker works fine with an SB license -- because it's really
just one connection via a single adapter to one broker.

The name "multi-broker license" has always been a bit of a misnomer.

It is really a "multi broker-technology license" -- but still limited to single
use of each broker's underlying technology adapter type.

--=0=--

(*) Perhaps things have changed, but this is still my current understanding.

(**) NT opens 2 data feeds -- the 'order' data feed and the 'price' data feed,
which may come from the same or different providers. This is how you can
use IQFeed or Kinetic (aka, price feed) with any broker (aka, order feed)
rather than the price feed provided by the broker. The multi-broker license
is the ability to connect to multiple order feeds simultaneously, but you can
only connect to each order feed one time. And since one order feed
connection can only feed one broker -- well, it doesn't feel so "multi"
in real live usage. "Multi" does not mean "unlimited".

PS: Before opening and funding multiple accounts with different brokers,
you should get very specific with your broker choices and run all the names
of your projected combination of accounts past NT support, either via email
or on the forum (email is more private) and get a thumbs up or thumbs down
if an MB license will allow you to connect to all of them simultaneously.

[futurestrader7]

Wow! Thanks for an in depth explanation, I appreciate it. My current broker uses Rithmic, and I want to open another account with a different broker that also happens to use Rithmic as well. I guess in this case, I would either have to just go with same broker with an extra account or purchase a brand new ninjatrader license?

[bltdavid]

And a new PC ... regardless of license type, you can only run one instance of NinjaTrader.exe on your PC at a time.

I mean, a 2nd NT license implies a 2nd PC to run it.

[futurestrader7]

Got it. Thanks

[NinjaTrader_Melissa]

Hello futurestrader7,

Thank you for the post.

What the bltdavid has told you is absolutely correct. A multibroker license key would allow you to connect to two different kinds of connection technology at once.

Rithmic adapters have a limitation where you may only be connected to one instance at a time; if you connect to a second one, it will automatically disconnect the first.

Please let us know if you have any further questions.