Many binary options investors are becoming more interested in Nadex; US – based exchange.
In our Nadex review, we will introduce our readers to how Nadex works and what services and trading instruments are available for traders who trade binary options on Nadex.
Unlike other broker reviews we have listed on our site, Nadex review shows they are not a typical broker, they are an exchange where traders can perform their trades and not the other side of the trading process, in terms of a trader and broker.
Nadex stands for Northern American Derivatives Exchange, online since 2004.
Our Nadex review shows how they are regulated by the CFTC (Commodity Futures Trading Commission).
Nadex accepts US citizens and residents only!
Nadex US Exchange – Main Information
During our Nadex review, we found out how Nadex minimum deposit is $250 with possibility to reach unlimited amounts of returns. Lowest investment amount is set to $0,01 and highest investment is $100.
For more details regarding this exchange and what does it offer to US traders, continue reading in Nadex review.
Nadex Trading Platform – Binary Options in USA
We have discovered in our Nadex review that they use own proprietary software. Platform is very well designed and simple to use. Traders interested to find out how Nadex works, can easily check main tabs and learn what features can they use and know more about Nadex benefits, such as excellent Trading Center, overview of latest market news etc.
Their trading platform has fast internet connection, which is very important to all traders. On this platform, it is possible to trade with a wide selection of different assets, including currencies, stocks, commodities, indices and Bitcoin.
Also, Nadex review shows how this innovative platform is available on mobile app. Nadex mobile app is simple in its use and US traders can access in using Windows, Linux or Mac. This mobile application is compatible with both Android and Apple devices.
There are plenty of features that traders can find on Nadex app, such as use a variety of charts, be able to draw and use different technical indicators. With this app it is possible to open an account and deposit an amount of money. With Nadex app, traders can trade from anywhere and use it on smartphones and tablets as well.
While doing Nadex review, we learnt that Nadex offers US residents High/Low and Long Term trade options. Also, following expiration times are available: 5 min, 1 hr, 24 hr, 24 hr +, end of day, end of week and end of month.
Nadex Special Trading Features
A novelty we discovered in Nadex review is that they offers spreads. So far we haven’t noticed that in any of other offshore brokers we had opportunity to review.
What are Nadex spreads?
Spreads assist traders to limit risks and let them by morte time to be right. With Nadex spreads, traders are able to trade between two price levels and spreads are designed so that traders could avoid negative aspects (avoid unlimited risk or to hit top/bottom price).
As stated above, Nadex is the only US binary exchange, located in Chicago, where US traders can trade binary options legally. Trading on Nadex is simple and traders have to sign up and afterwards, choose among different trade types and instruments. Nadex registration is free of charge, however there are certain fees that Nadex charges. More about that, check below in Banking paragraph.
Another popular and used service on Nadex platform is a demo account. They say they want to offer registered traders the best from binary options and possibility to explore trading platform in risk free environment.
Risk free means that US traders are offered $25,000 of virtual money in order to check the platform and try out different trading techniques and tools. Nadex review showed us that demo account is completely free of charge. To start using Nadex demo, traders have to provide several information, such as: first and last name, country, email, username and phone.
Demo account is valid for 14 days. Once traders feel confident enough to trade binary options for real, they only have to deposit $250 to get started.
Also, after some time, Nadex decided to accept non-US interested traders to join and profit from binary options trading.
Nadex Account Types
To their traders, Nadex offers two different individual accounts, one for US residents and other for international traders.
Nadex Individual Account (US residents)
- Simple and quick process of opening an account
- Needed documentation (proof of address, date of birth and social security number)
Nadex Individual Account (International)
- Accepted a variety of countries outside USA (whole list on their site)
- Necessary documents (proof of address, date of birth, copy of ID card)
Nadex Customer Support Service
To contact Nadex, US traders can use different ways, such as email and phone number (for US calls and international). However, there is no live chat, which we find strange since this is often the best way of how to get in touch with customer agent.
On email [email protected], traders can directly ask any question regarding trading process or any information they need to have a successful trading journey.
Nadex working hours are from 6 pm ET Sunday to 4:30 pm ET Friday.
As we discovered in Nadex review, platform is available only on English. We believe that multilingual platform will be useful since it will cover more traders, who might know understand English enough to invest in binary options.
Another thing worth mentioning is Nadex Learning Center. We were pleasantly surprised by the amount of useful education materials that can greatly contribute to more successful trading process.
US traders have on disposal to begin several different educational courses (Nadex / Nadex binary options / Nadex spreads / Nadex trading strategies), each with different topics covered. Alongside with that, traders can choose among a wide range of videos, webinars, trade examples, FAQs, glossary and trade examples on how to perform trading binary options in a profitable way.
Majority of these materials are free, while for others it is required to be a registered trader. Nadex has invested a lot of effort into ensuring all the important segments of binary options trading that can greatly assist all traders who join Nadex platform.
FAQs cover all steps needed for trading binary options, from login process and trading to account funding. Also, traders can easily track latest financial reports and news from the market in order to be more precise in determining when to place a trade.
Nadex Banking and Company
Our Nadex review revealed us that Nadex is a part of IG Group, a global financial service provider. Nadex ensures traders that binary options trading is safe and protected on this exchange. Also, they guarantee that all transactions will go smoothly.
While reviewing them, we found out that Nadex offers a wide selection of deposit and withdrawal methods, for both US and non-US residents.
Minimum deposit on Nadex exchange is $250 for US and non-US traders.
How to Deposit with Nadex?
US traders can deposit via different payment methods, including debit cards, bank wire transfer and Paper Check.
Maximum amount with debit card is $50000 and Nadex account will be credited immediately. Once traders login, they should click on My Account tab in top left corner and select funding with debit card.
Nadex asks for few documents that traders should send them, such as full name, full account number and bank’s 9 digit routing number. For any additional information regarding funding, US traders can contact Nadex via email [email protected].
Alongside with debit cards and bank wire, traders can also deposit via Paper Check. It may take 5 business days until Nadex receives the check and places funds on the trading account.
How to Withdraw Funds from Nadex?
For withdrawals done via debit cards, it might take up to 7 business days until Nadex reviews received documents and verify withdrawal request.
However, for transactions through bank wire, $25 fee will be charged. In case traders make deposit via new bank account that Nadex doesn’t have on file, traders should wait 14 days from the day deposit is made to be able to withdraw funds. That is in accordance with money laundering rules.
For withdrawals done by non-US residents, it they are received after 3:15 PM ET on Friday, requests will be processed the following day. All withdrawals done on Nadex platform are segregated and in accordance with CFTC rules and regulations.