Sierra Chart Supported Brokers

Sierra Chart is a powerful trading platform renowned for its advanced charting, technical analysis tools, and robust trading capabilities. The platform supports live, automated, and even simulated trading making it a valuable resource to traders. Notably, the Sierra Chart platform has been in the market since 1996 and the team keeps updating it with new features and capabilities

However, to fully utilize Sierra Chart's features, traders need to connect to a supported broker. In this comprehensive guide, we will look at some Sierra Chart-supported brokers, exploring their features and how they integrate with the Sierra Chart platform. Let’s jump in.

Understanding Sierra Chart

Before we look at the individual brokers, it is important for us to better understand this trading platform and why it is considered a valuable resource for traders. Sierra Chart is a professional trading platform widely used by traders and investors around the world. It offers a wide range of features including customisable charting tools, technical analysis indicators, advanced order types, and automated trading capabilities. Additionally, the platform has depth-of-market capabilities that are coveted around the world. Sierra Chart supports trading in various markets such as stocks, futures, forex, and options.

One of the key benefits of Sierra Chart is its flexibility and compatibility with different brokerage firms. Traders can choose from a list of supported brokers to execute their trades directly from the platform, eliminating the need for third-party software or manual order entry. However, while there are many brokers supported by the platform, not many of them are available for forex trading. Here are the brokers for forex trading supported by the platform.

Interactive Brokers

Interactive Brokers is one of the oldest forex brokers in existence today. This brokerage firm started offering services online in 1997. Traders can link their Interactive Brokers account with the Sierra Chart platform for trading. With this platform, traders benefit from streaming real-time data, historical intraday data, historical daily data, live trading services, simulated trading, and several order types supported, among other features. 

Traders should note that there are some integration issues when using Sierra Chart with Interactive brokers. For example, Sierra Chart does not provide support for Interactive Brokers symbols or data issues. Additionally, Market Data is not subscribed through Interactive Brokers. Sierra Chart provides clear breakdowns of what traders can expect when linking with Interactive Brokers including the integration issues.

There are other platforms available to use on the Interactive Brokers’ trading site. These include Trader Work Station and TradingView. The trading platforms on the broker site allow traders to access a wide variety of trading instruments. These include stocks, ETFs, bonds, CFDs on forex, futures, stocks, options, US Spot Gold, and cryptocurrencies. 

The trading fees on this broker site are relatively low with spreads and commissions within market standards. The spreads on this broker site can be as low as 0.1 pips for major currency pairs. On top of that, the commission charged by the broker depends on a trader’s monthly trading volume. As an example, a trader with a monthly trading volume of less than $1 billion pays a commission of $0.0001 multiplied by the monthly trading volume.

Finally, let’s look at the regulatory background of this broker. It operates under the supervision and regulation of various regulators in the market including the CIRO in Canada, the FCA in the UK, the ASIC in Australia, the SEC and CFTC in the US, and the Monetary Authority of Singapore. Such regulations are what makes Interactive Brokers one of the best Sierra Chart-supported brokers.

AMP Global

AMP Global is another reputable broker that integrates with Sierra Chart. Just like on Interactive Brokers, traders benefit from real-time market data feeds, simulated trading, and automated trading with Sierra Chart integration. The broker allows investors to trade various global markets including forex currency pairs, indices, commodities, futures, cryptocurrencies, and precious metals. 

The main trading platform offered by the broker is the revolutionary MetaTrader 5 platform. Notably, the spreads that traders enjoy on this broker site are fairly low and industry standard. Specifically, they start from as low as 1.0 pips for major currency pairs with no commission required. 

Finally, we have to look at the regulatory status of this company. While regulations alone are never enough, it is always a safer bet to trade with brokers with regulations from reputable organizations. Luckily, AMP Global has regulations by the CySEC base in Cyprus, one of the most respected regulators in the market.

NinjaTrader

NinjaTrader is a software solutions company that offers traders one of the best trading platforms in the world. The NinjaTrader platform is highly touted for its charting capabilities, customizable technical indicators, real-time analysis, and Chart Trader, among other features. While NinjaTrader is known for its trading platform, it also provides brokerage services, especially for Futures trading.

When trading futures with NinjaTrader, investors can integrate with Sierra Chart for easy live trading. The broker offers fair pricing with prices as low as $50 margins for Micros and $500 for E-Minis. On top of that, commissions are low starting from as low as $.09 per contract. Interestingly, traders can use both the NinjaTrader platform and Sierra Chart on the same computer. This gives traders immense charting and analysis power. 

On regulations, NinjaTrader is regulated by both the CFTC and the NFA in the USA. These are two of the best regulators in the market today.

Philip Capital

Philip Capital is a broker that offers access to a variety of markets including currencies, commodities, energies, metals, and more. This broker has a worldwide presence with offices in 16 different countries. Further, the broker has exchange membership on the CME, CBOT, COMEX, NYMEX, ICE Futures US, CFE, ICE Futures EU, and DME.

With Sierra Chart, traders gain a user-friendly platform with intuitive order entry tools. Additionally, traders gain access to advanced charting features and real-time market data to stay on top of the markets. Traders also have access to an educational section, a trained relationship manager, and a source of unbiased views and news on market developments.

As always, traders always want to know that they are investing with a broker that has regulations from reputable organisations. Luckily, Philip Capital has regulations by the SEC and the CFTC in the USA. It is also a member of the FINRA and the SIPC.

Full list of Sierra Chart Supported brokers

  • Philip Capital
  • Interactive Brokers
  • NinjaTrader
  • AMP Futures
  • Optimus Trading Group
  • Discount Trading
  • Click Futures
  • Emini Futures Broker
  • Sweet Futures
  • Advantage Futures
  • Deep Discount Trading
  • Edge Clear
  • Insignia Futures and Options
  • High Ridge Futures
  • Apex Futures
  • Zaner
  • Iron Beam
  • Trade Pro Futures and Forex
  • AGN Futures
  • TF4L
  • Stage Five
  • GFF Brokers
  • Dorman Trading
  • Cannon Trading

Advantages of Using Sierra Chart

  • Advanced Charting Tools - Sierra Chart offers a wide range of advanced charting tools, including various chart types, technical indicators, and drawing tools. This allows traders to perform in-depth technical analysis to identify trading opportunities.
  • Customization - Sierra Chart is customizable, allowing traders to tailor the platform to their specific trading strategies and preferences. Users can create custom studies, indicators, and chart templates, making them suitable for a wide range of trading styles.
  • Fast Execution - Sierra Chart is known for its fast and reliable order execution. It integrates with multiple data feeds and brokers, enabling traders to execute trades quickly and efficiently.
  • Market Depth Analysis - The platform provides market depth analysis, allowing traders to see the order book and monitor liquidity levels in real time. This can help traders make more informed trading decisions, especially in fast-moving markets.
  • Backtesting and Automated Trading - Sierra Chart supports the backtesting of trading strategies and automated trading through its built-in scripting language. It is also compatible with third-party plugins like the Sierra Chart Advanced Custom Study Interface and Language (ACSIL). This enables traders to test and automate their strategies, potentially increasing efficiency and consistency.

Disadvantages of Using Sierra Chart

  • Steep Learning Curve - Sierra Chart can be challenging for beginners due to its extensive feature set and complex interface. New users may require time to familiarize themselves with the platform and its various functionalities.
  • Limited Educational Resources: Compared to some other trading platforms, Sierra Chart may have fewer educational resources and tutorials available for users. This can make it more difficult for beginners to learn how to use the platform effectively.

Conclusion on Sierra chart supported brokers

Sierra Chart supported brokers offer traders a convenient and efficient way to access the financial markets directly from the Sierra Chart platform. By choosing the right broker, traders can take advantage of advanced trading tools, low latency execution, and competitive pricing to enhance their trading experience. While Sierra Chart offers numerous advantages such as backtesting and automated trading, its complexity may pose a challenge for beginners. Nonetheless, for seasoned traders seeking a robust and versatile trading platform, Sierra Chart remains an excellent choice.

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