NinjaTrader Crypto Review 2027: Fees, Coins and Regulation

The company was founded in 2003 by Raymond Deux as a maker of charting and order-entry software for futures traders. The platform became a favourite of day traders for its order-flow tools and for a large marketplace of third-party add-ons.

Brokerage services were added later, and the acquisition of Tradovate in 2022 brought a modern cloud-based platform and a simpler pricing model. Kraken announced its purchase of the combined business for about $1.5 billion in 2025.

Clients can trade:

• Micro Bitcoin futures, each representing one tenth of a bitcoin
• Micro Ether futures, each representing one tenth of an ether

Both are listed on the CME, cleared through its clearing house and settled in cash. Nobody delivers a coin at expiry; the difference between your entry price and the final settlement price is paid in dollars.

A future is an agreement to buy or sell an asset at a set price on a set date. In practice, most traders close their position long before that date. You can go long if you expect a rise or short if you expect a fall, with equal ease.

Unlike a CFD, the contract is standardised and traded on a public exchange. Every participant sees the same order book, and the broker is not your counterparty.

The firm offers three pricing plans:

• A free plan with the highest per-contract commission
• A monthly subscription with a lower rate
• A one-off lifetime licence with the lowest rate, from about $0.09 per micro contract per side

Exchange, clearing and regulatory fees are added to every trade and are the same whichever plan you choose. For micro crypto contracts the exchange fee is larger than the lowest commission, so look at the all-in figure.

Futures are leveraged by design. To open a position you post margin, a deposit that is a fraction of the contract's value. The exchange sets the minimum for positions held overnight. The broker sets a lower figure for positions opened and closed within the day.

For crypto, margins are high relative to other futures because the market is so volatile. Even so, the leverage available is several times what a spot buyer has. If your account falls below the requirement, the position can be liquidated automatically.

Each contract has an expiry month. A trader who wants to stay in the market must close the expiring contract and open the next one, an operation called rolling. It involves two commissions and a small price difference between the months.

For short-term trading this hardly matters. For holding over many months it is a nuisance and a cost, and it is the main reason futures are a poor substitute for owning coins long term.

CME crypto futures trade nearly around the clock from Sunday evening to Friday afternoon, US Central time, with a daily one-hour break. Historically they have been closed at weekends while the coin market keeps moving, so Sunday's opening price can differ sharply from Friday's close. The exchange has been extending crypto hours, so check the current schedule.

Three interfaces share one account:

• Desktop: the classic Windows program with advanced charting, market depth, order-flow analysis and automated strategies written in C#
• Web: a browser platform for charts and trading from any computer
• Mobile: an app for monitoring and placing orders on the move

A simulated trading mode with live data is included and is free to use for an initial period. The quality of the simulator is one of the firm's strongest features.

The platform's chart trader lets you place and drag orders on the chart. Advanced trade management attaches a stop and target automatically to each entry. Order-flow indicators show where volume is trading at each price. These tools were built for index futures and work the same way on the crypto contracts.

No minimum is required to open an account. To trade, you need at least the margin for one contract plus a cushion. Starting with only the bare margin is a common way to lose an account in a single session.

Under Kraken's ownership, the firm is expected to give its futures traders access to more crypto products and to bring regulated futures to the exchange's customers. Integration takes time, and what is available depends on your country. For now, the crypto offer at the broker itself remains the two CME micro contracts.

Regulated futures receive distinctive tax treatment in the US: gains are generally split 60% long-term and 40% short-term regardless of holding period, and positions are marked to market at year end. For active traders this can be more favourable than the treatment of frequent spot crypto sales. Confirm with a tax professional.

The broker accepts clients from the United States and many other countries, subject to local rules. Residents of some jurisdictions are excluded.

• A loss can exceed your deposit if the market gaps.
• Leverage magnifies every mistake.
• Weekend gaps cannot be managed while the market is closed.
• Contracts expire, so timing matters as well as direction.

The firm runs daily live webinars, a large video library and an active user forum. Support is available by phone, email and chat on trading days. Platform questions are answered well.

Choose futures for short-term trading, short selling and low percentage costs. Choose spot coins for long-term holding, for using crypto on a blockchain and for sleeping through a weekend without margin worries.

It suits you if you:

• Are an active trader who wants regulated, exchange-traded crypto exposure.
• Already trade index or commodity futures.
• Want to go short as easily as long.

It does not suit long-term investors, anyone who wants to own coins, or beginners uncomfortable with leverage.