Nadex Broker Review
- Website: www.nadex.com
- Phone and Chat Support
- Office address:
- 200 W Jackson, Suite 1400,
- Chicago, IL 60606
Nadex was founded in 2004 with the original name “HedgeStreet”. The name changed to Nadex in 2009. It is a CFTC regulated binary options exchange that aims to provide the most reliable and transparent binary option and bull spread signals for traders. Trades don’t need to pay a commission fee to a broker; instead, they can trade directly as a member of the exchange and trade with a minimum $250 initial deposit. Besides, Nadex offers traders the way to approach 29 different markets, containing: commodities, cryptocurrency, forex, stock indices, and economic events. Contracts are available for a wide range of prices with intraday, daily and weekly expirations.
Nadex (North American Derivatives Exchange), is an online trading platform that provides services of short-term binary options and spreads. The company is part of UK-based IG Group Holdings, is operating under the regulation of Commodities Futures Trading Commission (CFTC). This regulation enables US citizens to approach to a market that is well-known for deceitful operators overseas. Nadex provides traders with plenty of investment options from commodity futures and forex to global stock indices and macroeconomic events.
Nadex tries to keep their assets folder simple and clear for customers. Here is the list of assets:
- Commodities: Crude Oil, Natural Gas, Bitcoins, Soybeans, Copper, Corn, Silver and Gold
- Forex: EUR/USD, GBP/USD, USD/CAD, USD/JPY, EUR/JPY, USD/CHF, GBP/JPY, USD/CHF, EUR/GBP, AUD/JPY.
- Indices: US 500 (S&P 500), US SmallCap 2000 (Russell 2000), FTSE 100, Germany 30 (DAX), Japan 225 (Nikkei), Wall Street 30 (DOW), US Tech 100 (NASDAQ), China 50.
- News: Weekly Jobless Claims, Nonfarm Payroll, Fed Funds Rate.
Bonuses & VIP Programs
Nadex does not offer bonuses or VIP programs for traders as the company doesn’t want to attract customers with these type of programs.
Nadex also provides mobile trading apps for the customer. Traders can currently download apps from both Android and iOS platforms, and has a new web-based OWA app that can be downloaded form the waist and updates automatically. By using these mobile apps, traders can customize the layout, attach tools and indicators based on their preference and trading style. Traders can monitor actual price, review trading accounts, and, set up the orders.
Deposits and Withdrawals
Account funding and withdrawals are different for account holders from the U.S versus international members. The U.S. residents can fund their accounts via ACH transfer, bank debit cards and wire transfer while international traders can only fill up their trading accounts through wire transfer or debit cards. Nadex applies a $20 fee for a wire transfer for deposits and $25 for withdrawals. Returned checks area assessed a $25 fee and the procedure for withdrawal request can take between 3 to 5 days. There is plenty of details on the Nadex site website for traders who seek additional information.
Customer service is available via phone or email from 11 a.m. Sunday to 5 p.m. Friday in Eastern time (EST). The Nadex platform is only currently available in English.
Extra Features and Resources
Nadex provides both demo and real trading accounts for market participants. The platform is fast and trustworthy. Besides, it provides real-time charts, which can help a trader have insight into the market they are looking to trade in.
Another notable feature of Nadex is that it provides a great resource of learning materials. The learning support contains webinars, trade examples, trading videos, and trading e-books that can help traders to access a giant warehouse the trading knowledge.
Trade examples explain strategies that advance trader use to trade, manage their own risks and stem losses.
Webinars record real-time trading examples of expert traders, answers questions and provides realistic example for users.
Trading videos provide all sorts of examples about nearly everything from binary options to spreads that traders need to trade those instruments.
e-books are free for traders to download and offer solid knowledge and backgrounds in trading.
Although Nadex embraces many novel features that distinguish it from other platforms, it has some drawbacks
- A wealth of learning materials
- Accepts international traders from more than 40 nations in the world.
- Convenient mobile trading apps
- Provides lifetime demo account
- Low commission fee and low initial deposit fee
- Reliable and transparent platform
- Limited trading assets available
- Fee applied for wire withdrawals
- No bonus programs for deposits
Does trading with Nadex is reliable and safe?
Yes. It is entirely safe. The platform operation is under the regulation of the Commodity Futures Trading Commission which monitors fraudulent activities and scams.
Does Nadex offer any bonuses or VIP program?
No. Nadex does not provide any bonus program for traders. The US government is tightening the regulations related to bonus program for trading.
Does Nadex offer any training program?
Yes. Nadex offers plenty of educational programs for traders. You can find many useful educational formats such as webinars, trade examples, trading videos and trading videos. All of these services help equip traders with both technical and fundamental knowledge about trading activities.
Are demo accounts available with this broker?
Yes. Nadex demo accounts pave the way for beginners and first-time binary traders to get used to the platform and to trade without losing any real money. To use the demo account, you must complete a brief application after which an activation link and password are sent to your email address. This account is free and doesn’t require an initial deposit. The demo account enables you to test your strategies before applying them in real trading.
What is the minimum deposit amount at Nadex?
The minimum initial deposit requirement is $250.