NinjaTrader has partnered with Bitcoin exchange and wallet provider service Coinbase to allow users of its flagship platform to view real-time market data of major cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. The initiative isn’t a rare example of a retail trading platform warming up to the virtual asset class.
Through the experiment, the addition of Coinbase market data will allow cryptocurrency traders to leverage NinjaTrader’s charting and market analysis capabilities. But since the integration is through Coinbase, only a few coins will be available to customers as those are the only currencies that Coinbase currently supports.
Launched in 2003, NinjaTrader provides a complete end-to-end platform serving manual and automated traders of futures, equities and forex markets. The platform offers dynamic analytic tools both natively and through its vast third-party partner ecosystem.
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Cryptocurrencies and retail platform
With their newly formed relationship, users of NinjaTrader’s trading software will have access to more crypto brokerage service providers directly through a simple online registration process.
In a statement, the US-based software provider highlighted the apparent natural fit between cryptocurrencies and retail trading, describing it as the next logical step for its platform.
NinjaTrader officially operates as an introducing broker for several brokers and claims such partnerships deliver savings to its clients through tight spreads and discount commissions. NinjaTrader is available at over 100 brokerages worldwide and is promoted through offering free charting, analytics, system development, and trade simulation.
Commenting on the news, Raymond Deux, Founder and CEO of NinjaTrader, said: “The rapid rise of the cryptocurrency markets demonstrates the interest in digital assets and the need for a professional grade trading platform to monitor these highly active markets is evident. We are excited to provide a more robust charting and analysis experience for Coinbase products to help cryptocurrency traders uncover opportunity and make more informed trading decisions.”