Are you wondering what the best trading software for a Mac is? This blog is designed for those looking to utilize traders looking to use their Mac hardware to trade. Because Apple offers some of the best computer hardware on the market, they’re perfect for running and supporting trading software.
Table of Contents
- What Is the Best Trading Platform for Mac?
- Are Macs Good for Trading?
What Is the Best Trading Platform for Mac?
Unfortunately, none of the top-charting platforms have been written for or ported to the Mac OS, which is sad.
All the heavy hitters from TradeStation, NinjaTrader, MultiCharts, eSignal, Metastock, and MetaTrader were developed for the Windows operating system.
But I’m sure you already know this if you’ve been trying to trade from your Mac.
I used this trading platform on my Mac before switching to a PC. I can’t say it’s the best trading software for Mac because mine was old when I downloaded TOS. But I could use it without any issues.
What’s Important When Selecting a Trading Platform
Regardless of the computer you’re using, a handful of platform features are essential for traders. Even with trading software for Mac. Before you rush in, ensure the one you select includes at least some, if not all, of these:
Market Replay Capability. The ability to replay historical market data at any time is crucial for new and seasoned traders. How will you know if your new strategy will work if you can’t backtest it? You don’t if your platform doesn’t have this capability. How will you know what tweaks to make to your current strategy? Once again, you don’t if it doesn’t have this feature.
Direct Chart Trading. The ability to place trades from the chart. This is a must for day traders. On-chart trading enables you to place and execute trades directly from the chart.
Custom order entries or attached orders. This saving grace feature automatically adds a stop loss to your order. For newbies, this is crucial so you don’t lose your shirt. On the flip side, you can set your take profit amount. Finally, it cancels orders once you hit your stops or profit targets.
Execution Speed. We’re all familiar with the saying time is money, and nowhere is truer than in the day trading world. Whatever you do, ensure your software lets you rapidly enter and exit trades. Further to that, check the reviews to see if there are any red flags in trade execution. A few seconds could be the difference between finishing in the red or green at the end of the day.
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Things to Consider When Selecting Trading Platform for Mac
Your trading platform is one of the MOST important tools in your trading toolbox. From analyzing market data to interfacing with your broker to ensure flawless trade execution, I can’t overstate the importance of your platform.
Whatever you do, do NOT compromise on your trading software for Mac.
The good news is that you don’t need to compromise if you have a Mac. Did you know that almost all Windows-based trading platforms can be run on a Mac? By using either browser-based software or running virtual machine software, there’s no reason why you can’t make bank trading on your Mac.
Running Browser-Based Trading Software for Mac
The BEST browser-based trading software for Mac available by far is TradingView. I have to admit that I love the charts on Trading View. With intuitive and easy-to-use charts, it’s one of the best charting software I’ve ever used.
TradingView charts are simple to navigate, scale, and manipulate. You’ll find a “tools” section within the platform with many options. One of my favorite platform features is the tools; they’re straightforward to use and have a good selection.
I’d be remiss not to mention that they have a limited range of brokers supported on the platform. Furthermore, one of the biggest downsides for a long time was the inability to place trades directly from the charts. Luckily, this all changed as brokers such as Oanda, Tradestation, FXCM, BigSur, and Catalina connected to Trading View.
For those looking to access Trading View’s advanced features – think fast data fee and additional fees, you’ll need to break out the wallet. An upgrade to at least the PRO monthly subscription is required to unlock the advanced features.
TradingView is a modern, evolving stock charting and trading tool. At this point, a few technical issues need to be sorted (e.g., tick charts are not yet available, charts can change when refreshed, etc.) – and in time, I’m sure these technical issues will get resolved. It’s far easier to use than other tools; it looks great on any platform and makes MT4 look very clunky in comparison.
Are Macs Good for Trading?
Depending on who you ask, Macs are superior to PCs. Macs are fast, easy to upkeep, and have built-in security. Having a fast operating system is necessary for trading. So, trading software for Mac will have fast execution speeds.
LightSpeed is a trading platform you can run on a Mac. And they might be the best day trading platform out there. Read our LightSpeed review here if you want to know more about them. And they work on a Mac.
Running Virtual Machine Trading Software for Mac
Even though the major platforms weren’t written for the Mac, it doesn’t mean you can use them. By using Parallels software, you can access the best Windows-based based trading platforms. Parallels Desktop is undoubtedly one of the most popular virtual machine software among Mac users.
Are You Interested in Futures Trading?
Ninja Trader 8 is probably the best and undoubtedly most popular platform and brokerage for those trading futures. With an easy-to-use interface, multi-screen functionality, customizable charts, on-chart trade execution, and attached orders, it’s any trader’s dream. It offers a responsive charting experience, and users will not be disappointed.
You can access their premium service for just $60/month or a one-time lifetime license fee of $1099. The premium service includes automated trading, backtesting, advanced orders, and trading activity analysis (volume bars, order flow, market depth).
Even better, the NinjaTrader SIM platform is free to use! Before you decide to subscribe, you can see Rose actively using the platform in our Futures trading room. It can help give you a better sense of why they are among the best Futures brokers.
Don’t fret if you have a Mac. NinjaTrader can easily be run by installing Windows within macOS using Parallels. What makes Parallels the best way to run Windows on a Mac? It allows you to switch between Windows and macOS seamlessly, so you get the best of both worlds.
How to Install NinjaTrader on a Mac
- Download Parallels
- Install Windows 10
- Download and install NinjaTrader. It will ask you to enter your email at this step, and Ninja will send you a link to download the Windows version.
Before you install Ninja Trader, make sure you make the below changes in Parallels. Doing so will ensure you can drag and drop folders from your macOS into Windows.
- Start parallels
- Select your virtual machine
- Locate and press the “configure” button at the top
- Select “sharing” under “Options.”
- Under “share Mac user folders with Widows,” uncheck “Share Mac.”
- Finally, press “OK.” You are now able to start the virtual machine.
Once you complete these changes, you can run the NinjaTrader installer to finalize the setup in Windows.
Where to Go From Here
As you can see, there’s no reason to be deterred from trading if you have a Mac. Once you select your trading software for Mac and broker, it’s time to pick your education provider. Nowadays, you’ll find many people promising instant results in trading.
Just last night, a message landed in my Instagram DM, promising me gains of $25,000 a day. All for a small fee of $1,000, of course. It’s ridiculous and downright ludicrous that I would fall for that, but some people do. Don’t be that person.
You can access our trade rooms and next-level library of courses for a small fee. Still not convinced? Head over to our website, where thousands of dollars worth of free courses are available. Save your money, start small, then go from there.