Nadex is a US binary options broker, owned by Derivatives Exchange Inc. and licensed and regulated by Commodity Futures Trading Commission. Being licensed to operate in the United States and legally accepting US traders, Nadex has attracted a lot of attention with the service they provide.
Founded in 2004, Nadex is also one of the long-standing broker companies serving a huge customer base with specific and unique binary options trading opportunities.
Nadex Trading Platform
Nadex binary options trading software is a browser-run platform, operating with no download needed and providing a very professional and consistent trading experience. Nadex is both a binary options broker and exchange, so the platform has to be unique for the traders too while providing fully customizable interface. With over a hundred of options presented, Nadex offers many strike prices and does not actually show the potential returns in percentages but in bid/offer prices available.
While it can be confusing to new traders, especially if they have used other trading platforms, the platform can be quickly learned and easily navigated once you get a grasp of the basics. Firstly, there are options available for 25 indices available, all major currency pairs and commodities including gold, silver, oil and more. There are weekly, daily, intraday and five-minute options, but the expiry time is not a final statement as all options are tradable at any time!
This means that as an exchange and broker Nadex will allow you to trade options before their expiry if you want, as long as there are buyers or sellers. This is allowed through a propriety platform and a direct market access feature with direct data streaming.
- US traders allowed
- Wide range of tradeable assets
- Free standalone demo account
- Corporate accounts available
- Fast customer support
- Good banking options, even for US citizens
- Trading platform can be a bit overwhelming for beginners
While Nadex looks to provide same trading experience with equal opportunities to all traders. However, there are three account types.
You can open a completely free, standalone demo trading account. This is the easiest way to get to know Nadex offer and trading platform, with absolutely no risk included. It offers a $25,000 virtual money balance with no time limits to use it.
With a minimum deposit of $100, you can open a real money trading account. While all traders have access to same assets and bonuses, as well as analysis tools, there are only verification differences between the US and other traders.
Trusts, Partnerships, LLC’s, Corporation Accounts
There’s also an opportunity to open a ‘business’ account as a holder of a company, where you also have to provide verification documents showing you’re authorized to trade as shown under Nadex terms and conditions.
Banking and Bonuses
As Nadex is a strictly regulated broker, it’s obligated to keep traders deposits in segregated accounts at Fifth Third Bank and BMO Harris Bank. This provides safety and further proves broker reliability Nadex represents.
The deposits and withdrawals are again somewhat different for the US and non-US traders, where Americans can deposit with Paper checks, wire transfers, ACH bank transfers and debit cards. Of these, non-US traders can go with either debit cards or wire transfers.
Once you register an account, you need to contact the customer support to make deposits and they are, just as withdrawals, very quick and easy. Only possible delays are with paper checks deposits, where the funds need to actually be cleared.
Nadex processes all withdrawals within a business day, with an exception where wire transfers can take up to seven days to appear on your account. As said, Nadex does not show your possible returns in percentages as they do not actually take parts of it – they rather take fees of $0.9 per lot where the fee cannot exceed $9 per a trade.
As a deposit bonus Nadex offers feeless trade days, and of course, the more you deposit more “holiday” days you get. It’s best to look into the offer before depositing, as to take the best advantage of it.
We love concluding good binary options broker reviews with a good customer support remark. Any experienced trader would, of course, take a good look at it before even registering and depositing with a broker as it’s a good sign of broker trustworthiness and consistency.
Nadex customer care is top-class, with an experienced customer support team which is pleasant, caring and competent. And this is just to top the good looking FAQ, helpful videos, and easily accessible general info. The support channels are available via e-mail and toll-free phone numbers and usually any inquiries within hours.
While this is a great feature with regulated and authorized brokers, we have seen the extra bit of dedication by Nadex which will actually make you feel they would like you to succeed. The overall service is thus well-rounded in high quality and once you are used to the unique platform and features, Nadex can easily become your favorite binary options broker.