Questions about the "multi broker licence" and broker compatibility

[fmaurel]

Hi,

I am looking at NinjaTrader as my possible new trading platform. I trade mostly futures but I do stocks as well. I understand that if I go with NinjaTrader I will have to get a multi license if I want to trade stocks. I currently have an account with TD. I have 2 questions and would appreciate the feedback.

1/ Which of all the supported brokers is better as far as supporting all of the NinjaTrader’s features. I saw the following disclaimer for TD which isn’t inspiring confidence:
Disclaimer

1. When submitting orders within an OCO group, the orders must be submitted as a pair and after submission, those orders will no longer be modifiable. To make a change to an OCO grouped order it must be cancelled and resubmitted. ATM functionality which would modify submitted stops and targets on TD Ameritrade accounts are therefore not supported.
2. TD Ameritrade supports changing the order type of an active order. This is not a common practice. NinjaTrader does not support this feature

Does this mean you can’t move your stops, target or use any ATM strategies once the order is placed?
Would a broker like Interactive Broker for example be a better fit? I don’t mind opening another account with another broker if there are substantial compatibility benefits doing so.

2/ My second question has to do with the workflow. Is it seamless / invisible, or do you have to manually switch from one to the other? Do you get two simultaneous data feeds, one from Ninjatrader brokerage and one from whichever broker used for stocks/options.

Is there any speed issues?

Are all the trades done using an outside broker logged within NinjaTrader and can I use the strategy analyzer for both futures and Stocks?

Thank you.

[NinjaTrader_ChristopherD]

Hello fmaurel,

1) If you are trading with TD Ameritrade, orders that are submitted as part of an OCO pair cannot be modified.

In addition to TD Ameritrade, NinjaTrader also supports stock trading with Interactive Brokers. The trading interface with Interactive Brokers does not have the same limitation.

2) The multi broker license key will allow you to connect to both accounts simultaneously. This will give you a seamless one-platform interface to trade multiple asset classes with two or more different brokers. You can also configure Interactive Brokers as the preferred connection for stock data and NinjaTrader Brokerage as the preferred connection for futures. You can learn more at the link below:

• https://ninjatrader.com/support/help...ataConnections

Is there any speed issues?

There are no speed issues associated with using multiple brokers.

Are all the trades done using an outside broker logged within NinjaTrader

Yes, the trades that you place with with Interactive Brokers will be logged within the NinjaTrader platform.

can I use the strategy analyzer for both futures and Stocks?

Yes, you can use the Strategy Analyzer for both futures and stocks.

[fmaurel]

Thanks for the prompt response. Would NinjaTrader work as well with Tradestation ( I have an account there as well)? Or is Interactive Brokers better as far as supporting Ninjatrader's features?

[NinjaTrader_ChristopherS]

Hello fmaurel,

TradeStation is not supported for live trading. Interactive Brokers is a supported brokerage. Information on supported brokerages can be found at the link below.

https://ninjatraderecosystem.com/brokers/

[fmaurel]

One last question, actually more of a confirmation as some of the info I have found in my research are somewhat confusing as you seem to have a very different business model than any other Brokerage firm. If I buy a license of Ninjatrader I can trade Equities with any Brokers I choose who support NT, but for futures even though I bought a license I have to use NT as a broker for Futures? I can't for instance trade Futures AND Equities with let's say Interactive Broker. And to do that I have to buy an extra $550 license for the privilege? Am I understanding this correctly? I think what makes it confusing is the fact that I you go ahead and select to buy NT it ask you to select your broker....?

Thank you.

[NinjaTrader_Heath]

Hello fmaurel,

Thank you for your reply.

No you do not have to use NinjaTrader Brokerage for futures. However only some data providers offer futures data in NInjaTrader.

For more information on what data providers offer data for what market types, please visit the link below:

https://ninjatrader.com/support/helpGuides/nt8/data_by_provider.htm

As you can see here you can get futures data from Interactive Brokers, however in order to receive data you need to be enabled for LIVE data for any markets you wish to view. Delayed data s not supported in NinjaTrader.

The reason we ask you to select your broker with your license key is so we can insure the license is assigned to the correct connection type.

Please feel free to write in if you need and additional assistance.

[fmaurel]

Thanks for the answer.

So if I go with Interactive Broker -with- live data, which is really the only all in one solutions if I want to trade both Equities and Futures together, then all of the NT features will work as well as your own brokerage? My follow-up question is will your brokerage off Equities in in the near future? And does your brokerage offer free data or is it extra? Sorry for all those questions by the way, but those are questions I have never had to ask myself since I have always used "all inclusive " brokers such as Tradestation and TD...

Also If I do open an account with your brokerage, which clearing house do you recommend? Thank you.

[NinjaTrader_Heath]

Hello fmaurel,

Thank you for your reply.

Your experience with a certain provider will depend on many facotrs such as proximity to their servers, quality of your connection, features that you're enabled for with their broker. However the NinjaTrader platform itself does not discriminate based on using a broker other than NinjaTrader Brokerage.

For questions regarding our brokerage you would need to contact the brokerage sales team directly, as the Platform Support team are not licensed brokers and cannot answer account or funding related questions.

You may reach them directly by emailing BrokerageSales(at)NinjaTrader(dot)com.

Please feel free to write in if you need additional platform related assistance.