Review of the fraudulent broker NinjaTrader: reviews of deception
Review of the broker “Ninja Trader”: facts of deception and fraud revealed
As a rule, finding an honest and reliable CFD broker today is difficult. The abundance of fraud in this area is striking. One of such companies that raises serious concerns is NinjaTrader. Withdrawing your money from ninjatrader.com is extremely difficult. The intermediary has gained a bad reputation not only in Russia but also beyond its borders, accompanied by a multitude of negative reviews. In this review, we will try to understand how this intermediary operates and consider the opinions of dissatisfied clients.
Official view of NinjaTrader
According to former clients, a significant part of the information posted on the official website ninjatrader.com turns out to be false. The company tries to convince clients of its reliability, offering at the same time the most vague and uninformative information about itself.
On the main page, NinjaTrader offers to download a free platform for market analysis and review. The broker requires you to provide an email address to receive the program. According to users, the functionality of the service turns out to be extremely limited and practically useless in real trading conditions. Moreover, by providing an email address (even before registration), NinjaTrader includes it in the mailing list and starts bombarding with messages offering registration.
The main menu on ninjatrader.com includes 5 main sections: “Brokerage Services,” “Platform,” “Help,” “Language Selection,” “Open an Account.” In addition, the company provides a review of its activity statistics, stating that there are 60,000 accounts registered on the platform, more than 1,000 different trading programs offered, and over 450 professional developers. However, in traders’ reviews, a question arises: if NinjaTrader has such a high-class team, then why does the trading terminal work so unstably?
Terms and commissions
According to information on the ninjatrader.com website, the commissions charged by the company are: 0.9 USD for futures and 1.2 EUR or 1.2 USD for a Forex market transaction. However, actual commissions turn out to be significantly higher. The company hides additional expenses, providing unreliable information.
In the review of commissions by “Ninja Trader,” it is claimed that there are low spreads and an entry threshold, but specific numbers are not provided. At the same time, the ninjatrader.com website states that the size of spreads may vary depending on market conditions, which is another trick allowing inflated spreads to be charged under the pretext of “market conditions.”
Broker’s documents
The ninjatrader.com website does not contain a “Documents” section. The only found element is a warning about financial risks. Currently, there is no clear information on terms and conditions, as well as on privacy policy, which provides opportunities for the company to deceive users while remaining unpunished. Documents that could be referenced in case of need for legal issues are absolutely unavailable to the client.
The presence of a license on ninjatrader.com is paradoxical. Issued by the authoritative National Futures Association (NFA) of the USA, it does not diminish the seriousness of accusations of violations of currency exchange against the company.
Deposits and withdrawals on the “Ninja Trader” website
Fraudulent intermediaries often set high barriers to attract users and quickly withdraw funds. NinjaTrader is no exception. The company has set a minimum threshold of 400 USD for entry.
Account replenishment is carried out in dollars or euros, payments are accepted by Visa/Mastercard bank cards or by bank transfer to accounts in JP Morgan and Bank of America. Withdrawal is only possible by check (for US residents) or by bank transfer.
Reviews and conclusions
Most reviews of ninjatrader.com are negative. Clients note that the company takes all possible steps to extract money from them. Low-quality software, problems with fund withdrawal, and unsatisfactory support – these issues of “Ninja Trader” stand out in the reviews.
Thus, NinjaTrader turns out to be not the best choice for working with CFDs. It is a fraudulent intermediary with which earning on trading becomes practically impossible. It is recommended to exercise increased caution when choosing a brokerage company to protect yourself and your investments from such situations.
Author: Ivan Andrienko