ComplaintsforNinjaTrader

• Initial Complaint

  05/10/2024

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  I am writing to formally dispute unauthorized charges totaling $1,350, billed at $225 every three months, made by your company to my account. Despite numerous attempts to understand these charges, I have not received adequate clarification or documentation confirming my consent for these transactions. My initial interaction with your service involved using a prop fund that provided me with a serial key, under the impression that I was solely subscribing to market data. At no point was I made aware that this would incur recurring charges, nor do I understand what these charges are for. I have previously contacted your customer service, but the only response received was a vague reference to a "Serial Key" purchase, which I do not recognize nor approve of. Given the nature of these unclear charges, I request a detailed breakdown of the charges, the cessation of further billing, and a full refund of the amount charged.

  

  Business response

  08/15/2024

  This client never sent in a request to cancel his quarterly license key payment ($225 every 3 months). Filed dispute after one email explaining when the quarterly license key was purchased (2/8/23) and in that very same email we offered to cancel his renewal on that key. The client sent us a screenshot of the BBB report being filed and then one of our team leads (*********************) reached out to explain why they were charged and pointed out that the client never reached out to us for assistance with cancelling the renewal for this key. They claimed that we should have cancelled the key as they were working with a prop firm (Apex) and so the two keys were redundant, but we explained that the it is up to the client to cancel a key, and we are happy to assist should they reach out for help. We cancelled the renewal on the clients behalf 3 days after the report with the BBB was filed. For context, the client had to purchase this through Paypal personally, so they would have input their credit card details and agreed to our terms of service before we ever issued them a key. 

  Customer response

  08/15/2024

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *********************

• Initial Complaint

  04/03/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I signed up at ninjatrader. Attempts to fund my account has been fruitless until an unauthorized payment of ***** was taken from my community bank account. Ninja acct *******

  

  Business response

  08/15/2024

  The only charge I'm seeing for this client was a $4 fee charged for live market data. That was paid on 4/19 and verified the transaction in Stripe. This client didn't reach out to us about the $72 charge under the email listed, or under the email we have on file for their trading account ([email protected]). This is more than likely a charge from a 3rd party for tools to use on the NinjaTrader software. The client funded their trading account on 4/1 and then removed the funds by 4/27. They purchased market data through us after filing this complaint. 

• Initial Complaint

  02/07/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I had a family member hospitalized a little over a year ago. The NinjaTrader platform is always connected on my home computer just as my other accounts. I called all my account brokers to notify them that I will not be trading and to suspend any fees except data fees, including NinjaTrader. NinjaTrader decided to charge me $25/month. After the passing of the family member, I am now looking over statements and realizing this is the scam Ninja Trader is running. Along with this, they changed my clearinghouse from a well known one to their own so they can charge these fees. Ridiculous. I am seeking to have these charges reversed and advised by their own staff to withdraw all funds, which I have initiated. The account is under my father's name.

  

  Business response

  08/15/2024

  This client claimed they reached out to support to cancel their data renewal stating that they wouldn't be trading for a while, however we have no such record of this client making that request. This was ultimately escalated to compliance as the client incurred $250 in inactivity fees. For reference - This fee only would have applied if they were using the software during those 10 months that they stated they were indisposed. After conferring with compliance, they informed me that we credited them back the $250, despite the policy being clear. The client was unhappy with this resolution, so we added an additional $300 as a courtesy and they came back and asked for $54 more on top of the $550. Joe Pucci worked with this client if we need more details. 

• Initial Complaint

  11/16/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I funded the account via ACH and wire from my brokerage and bank a week ago. They are not letting me withdraw any funds claiming that there is a 10 day waiting period. This is beyond acceptable. The longest any brokerage has told me an ACH must wait is 4 days. My main brokerage only waits 2 days. I believe they intend to keep the money locked up. I need it to pay my bills immediately.Additionally, they provide no bank wire options.Furthermore, they have failed to set up a trading account connection to their platform within a month of starting a newly funded account in October. They have been charging me data fees this whole time.They do not seem to be a legitimate clearing house for futures.I would like all charges and funded money back.

  

  Business response

  08/15/2024

  Our policy on the ACH withdrawal window is very clear and we are happy to explain this to clients. In this case, the client messaged us repeatedly (7 chats on 11/16) and Dennis eventually reached out via phone to explain the policy. The client stuck around with us for quite a while after this issue was resolved. We can see from their 11/17/22 statement that the ACH withdrawal was processed through in the amount of $12,500. One thing I'd point out here is that this client is not in position to trade here or elsewhere if they are needing to move funds ASAP to pay bills as this would no longer qualify as risk capital. In reference to them not getting setup we reached out for a concierge onboarding call on 10/17/22 to assist this client, which was nearly a month before this complaint was filed with the BBB. 

• Initial Complaint

  11/04/2022

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  A close of account and requested wire transfer on 10-31-2022. I was told by email that it should appear in my checking account within 3 days. It is now nearly 12 noon and it still has not. Numerous phone calls to brokerage support as well as emails have not been answered. The amount is $296.83. The company has engaged in a rather clever technique of claiming that it has upgraded its client portal but no data appears relative to Daily and Monthly account statements; absence of a paper trail is the way they are hiding impropriety. I am hereby requesting that the BBB inform Ninjatrader that I want a full refund of the wire transfer via the same method I wired the funds to my Ninjatrader account and do it ASAP!

  

  Business response

  08/15/2024

  This client requested a withdrawal on 10/31 and it was processed and sent out on 11/1. The reason for the delay was that they opted to have a paper check sent to them. Despite filing this report, this client has remained active with NinjaTrader and had an active balance with us last month. We received an email from them on 12/1/22 where they led in with "To whom it may concern, this is Steven Travis, Loyal NinjaTrader customer." I believe the main source of the issue surrounding this one, was the client preferring to receive a check (which takes longer to receive) rather than paying the fee for an outbound wire transfer. 

  Customer response

  08/15/2024

   
  Complaint: 18358805
  
  I am rejecting this response because: I did not request a check, NINJATRADER OPTED TO SEND ME ONE OF ITS OWN VOLISION.  What's more, I did not complain about NinjaTrader regarding any matter as I have never had a grievance with the company.  I DO NOT THINK THAT THE COMPANY HAS BEEN A PROBLEM OF ANY SORT ALTHOUGH I HAVE NEVER OPTED FOR A TIME CONSUMING CHECK TO CLOSE AN ACCOUNT.
  
  Sincerely,
  
  Steven Travis

  

  Business response

  08/22/2024

  Hi Steven, 

  We're happy to hear that you have no complaint with NinjaTrader regarding this matter nor have you had a grievance with our company. We were responding to an initial complaint on file with the BBB and if that's no longer nor has ever been applicable to you, we're glad to hear it! 

  Sincerely,

  NinjaTrader

  Customer response

  08/23/2024

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID 18358805, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  Steven Travis

• Initial Complaint

  10/26/2021

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  Deposited $800 into account for trading with no fees, Only $650 was deposited and stated by employee that although it displayed $650 I should have had $800 power,This caused me to be pulled from my position early and lose $400.This is the letter i sent to them, they did not respond:MMOSCA Update on CLAIM for $400-600 Refund, No Excuses Sorry to followup like this, but I've discovered you guys might not be competent enough to solve this issue you caused? Hopefully that's not the case, you don't know my lawyer.t. I really hope you just do what you should and refund me the $400 for your platform glitches shorting me out of my trade for displaying the incorrect balance. If not i will have to file a business bureau report, open a lawsuit, have my hired mentor ***** whos been trading for 38 years let his ******* channel know and let my ******* Channel know,. This isn't a threat, just letting you know the plan to rectify this if you guys would prefer bad reddit karma and even worse ratings, I will not go easy on this after reading these reviews if this is not rectified. Some reviews to get a grip of who you guys actually are; BTW I couldn't find a positive one, not to mention your 0 star forum rating:HERES MY ORIGINAL MESSAGE, just so everythings in writing:Hello, I need help with the balance of my account. Please forward this to whoever can override and help me out:My name is *************************, I'm relatively new to live trading, this was my first day, though I have traded futures on Ameritrade for the past 3 years.My account balance stands at $161 after a poor day of trading, but when calculating the losses I realized the majority of this was taken from a trade I was pulled form early. I read through and knew how far I could go before being pulled from a trade, but the problem is that I was pulled early due to an incorrect balance in the software. My balance was supposed to be $800, not $653, and should have had that room for the trade to close, which it did in my

  

  Business response

  08/15/2024

  You can find a full breakdown from compliance here: Customer first contacted NinjaTrader Support on 10/25/2021, claimed that a platform glitch cost him $400 and was demanding a refund/threatening to bash NinjaTrader online Investigation revealed what occurred was: customer was relying on the platforms calculation of his current account balance (which was inaccurate) and traded based on that (thought he had a balance of $800 instead of the actual balance of $653) o Customer ended up getting liquidated for falling below margin requirements o Trading Operations team had already credited two previous liquidations, on 10/22/2021, and felt that customer was unfit to trade/did not seem to understand margin requirements o Customers email mentioned several times being a broke college student, so Compliance requested updated financials from the customer; customer said his net worth was $27,000 *** requested the customer provide a bank statement so we could verify these funds Customer refused to do so, on two separate occasions, and was warned his account would be closed if we could not verify his financial information Customer made threats against NinjaTrader (if you close my account, theres going to be a problem, threatening negative reviews online) Customer then displayed very aggressive/abusive behavior towards staff in their communications o Based on all of these factors, the account was closed on 10/28/2021 o Customer came back in January of 2023 and tried to act like he had no idea what had happened to his account Compliance responded and reiterated that the account had been closed and that decision was final ******** then tried to apologize for his behavior; no further response was sent from Compliance

  
  

  Customer response

  08/15/2024

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *************************

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩