Nadex

  • Name : Nadex
  • Website : nadex.com
  • Established : 2015
  • Regulation : CFTC
  • Country : United States
  • U.S. Clients Allowed : Accepts US clients
    Accepts US clients
    Yes
* Ranked #24 of 99 in DailyForex's top broker list

Info

Name : Nadex
Website : nadex.com
Established : 2015
Country : United States
U.S. Clients Allowed : Accepts US clients
Accepts US clients
Yes

Advantages

  • Regulated by CFTC
  • Well Designed Website
  • Demo Account

Disadvantages

  • Only One Standard Trading Account

Nadex Review

Nadex Review

Nadex is a Chicago-based regulated derivatives exchange designed for the retail trader that offers only limited risk products. It is part of the IG Group, a global financial services provider with a market cap of over £2.2bn.

Unlike many other binary options brokers, Nadex.com is available to U.S. citizens as it is based in the States and is a regulated US exchange, designated by the CFTC (Commodity Futures Trading Commission) and is legally permitted to accept US residents as members.

At Nadex, traders have access to trade over 2,400 binary option contracts daily on some of the most popular financial markets including Forex, Stock indices, commodities and the popular crypto currency bitcoins.

Nadex Available Stock Indices
Nadex Available Stock Indices

A Demo account can be opened in less than a minute and traders can test drive-the platform with $25,000 in practice funds.

Accounts

There is one standard trading account at Nadex and it is available to everyone. It’s free up until the first trade is placed. Then a minimum initial deposit of at least $250 must be made. No additional deposits are required after that but the account must have enough to cover the maximum potential loss that could be incurred on any open positions.

Features

Nadex offers contracts ranging from 5 minutes to one week giving traders multiple short-term daily trading opportunities and as well as the ability to close their position before expiration to minimize losses or lock in early gains.

It’s easy to find some unique features at Nadex.com. Their Binary Option and spread contracts have built-in floor and ceiling levels, which provide the same protection as a stop order without the risk of being stopped out even if the market spikes against the trader. This means that a trader can never lose more that his or her initial collateral because the price of the contract always remains between the floor and the ceiling, and the maximum potential profit or loss is known in advance.

Nadex Contract Specs for Events
Nadex Contract Specs for Events

The broker operates a competitive capped fee structure, such that the trading fee for each lot traded is $0.90 with a maximum charge of $9 per order. Settlement fees do apply when a position is held until expiration.

Education

When it comes to education, Nadex is well equipped with all the latest instructional tools. Webinars are offered for free to registered account holders and they cover a wide range of important topics including beginner and advanced strategies, trading mentalities and more.

There is also a variety of different videos, many of them animated and all of them easy to understand, that cover the gamut of the material all binary option traders should know.

Nadex Educational Videos
Nadex Educational Videos

Handbooks are also available that are written to help traders understand the fundamentals of binary options, bull spreads, trading strategies and much more.

A full glossary of terms is provided and the FAQs columns are spread out across several different pages to help explain specific concepts and procedures.

News and market commentary are posted on a regular basis often accompanied by appropriate videos.

Nadex Markets News
Nadex Markets News

Bonus / Promotions

Nadex offers an unusual bonus—the Free Holiday Bonus. Depending on the amount of money deposited, traders receive free trading days where they are not charged any exchange fees (trading or settlement fees). For example, a deposit of $250 entitles the trader to 3 free trading days; a deposit of $10,000 comes with 15 free days.

There were no other promotions or bonuses offered at the time of this review.

Customer Support

Traders can contact Nadex customer support with questions about their account by phone or email 24 hours a day from 6pm ET Sunday through 4.15pm ET Friday. There is a U.S. Toll-Free number as well as an international one.  I didn’t see Chat offered.

Deposits/Withdrawals

Deposits can be made via debit cards, bank transfers and wire transfers. Personal checks are also accepted. The maximum amount one can deposit using a debit card is $50,000.

For wire transfers of $5000 or more, traders receive a credit for the wire transfer fee.

Nadex offers two different methods for withdrawing funds from an account: ACH or Wire Transfer. Both can be done via the online form found on the website.

Non-Resident account holders may withdraw funds by wire. Withdrawal requests received after 4PM ET, Monday through Thursday, or after 3:15PM ET on Friday will be processed the following business day. A $25 fee is charged for funds for each wire.

Conclusion

Nadex is a great choice for binary option trading for both U.S. residents as well as non-residents. It offers secure regulation and the maximum risk for any trade is fixed and required in advance so traders cannot be called upon for additional funds should a trade go downhill. The website is well organized and there are some refreshing features.

Disclaimer: We work hard to offer you valuable information about all of the brokers that we review. In order to provide you with this free service we receive advertising fees from brokers, including some of those listed within our rankings and on this page. While we do our utmost to ensure that all our data is up-to-date, we encourage you to verify our information with the broker directly.

Advantages

  • Regulated by CFTC
  • Well Designed Website
  • Demo Account

Disadvantages

  • Only One Standard Trading Account
Review info :
Broker reviewed : Nadex Rating : 9.5 out of 10
Reviewed By : Review Date :