Nadex is an American Binary Options broker that was founded in 2009. The American CFTC commission directly supervises Nadex Broker, and this issue gives it credibility. But beyond credibility, is Nadex Broker a suitable platform for Binary Options trading? In today's article, we will review the types of accounts, the step-by-step registration guide, bonuses, and Nadex commissions. Read this article before trading in an American Binary Options broker.
Nadex Broker Company Information
Nadex, short for āNorth American Derivatives Exchangeā, is a cutting-edge brokerage firm that specializes in short-term, limited-risk Binary Option trading products. In the last days of 2021, the famous crypto.com exchange bought Nadex, and a few months later [March 2022], this purchase was finalized. Here's what sets Nadex apart from other Binary Options brokers.
- Regulated Exchange: Nadex is fully regulated by the U.S. Commodity Futures Trading Commission (CFTC), ensuring a high level of investor protection.
- Unique Trading Products: The platform offers Binary Options, knock-outs, and call spreads on various markets including forex, commodities, and stock indices.
- Fixed Risk: All Nadex products come with predetermined maximum profit and loss potentials, allowing for precise risk management.
- Direct Market Access: As an exchange, Nadex allows traders to buy and sell contracts directly, without going through a middleman.
With its innovative approach to derivatives trading, Nadex has carved out a niche in the U.S. market and beyond, catering to traders who seek a more structured and regulated environment for speculative trading.
Summary of Details & Specifics
Nadex's Binary Options offer a unique twist on traditional options trading. Here's a breakdown of their key features:
Broker | Nadex |
Account Types | Real |
Establishment Year | 2009 |
Trading Platforms | Proprietary platform [Nadexgo] |
Maximum Return | Not Specified |
Minimum Deposit | $250 |
Base Currencies | USD $ |
Deposit Methods | Debit Card, ACH (Bank Transfer), Paper Check, Wire Transfer |
Withdrawal Methods | Debit Card, ACH (Bank Transfer), Wire Transfer |
Minimum Trade amount | $1 |
Maximum Trade Amount | 90% |
Tradable Assets | Forex currency pairs, Stock, CFD |
Investment Options | None |
Bonus | None |
Spreads | $1 at least |
Commission & Fees | $10 per month for inactivity, $1 for order opening, $25 for withdrawal |
Maximum Leverage | Not Provided |
Affiliate Program | Yes |
Trading Features | Not Specified |
Inactivity Fee | $10 per month |
Customer Support Ways | Live Chat, Email |
Customer Support Hours | 23/5 |
What Account Types are available in Nadex?
For users' convenience, Nadex only considers one type of trading account [real], and there are no other accounts except for demo trading. Some features of Nadex's real account:
- $250 Minimum deposit ;
- Access to all markets and products;
- Real-time trading with actual funds;
- 24/5 support.
Nadex does not offer an Islamic/Swap-free account option, which may be a consideration for muslim traders.
Nadex Broker Registration: Step-by-Step Guide
Registration is the first step to using Nadex broker services. For this, follow the steps below. Nadex Broker sign up:
- Visit the Nadex Website: Navigate to Nadex.com and click on "Open Account".
- Fill Out the Application: provide information (name, last name, suffix, username, Email and password).
- Verify Your Identity: Upload required documents (ID, proof of address)
- Fund Your Account: For live accounts, make an initial deposit (min. $250)
- Complete the Knowledge Quiz: Answer questions to demonstrate your understanding of the products
Nadex broker Bonuses
When it comes to bonuses, Nadex takes a different approach compared to many offshore Binary Options brokers. As a CFTC-regulated entity, Nadex does not offer traditional deposit bonuses or promotional offers.
While the lack of bonuses might seem disappointing at first, it's important to understand that this approach aligns with Nadex's commitment to transparency and regulatory compliance. Instead of flashy promotions, Nadex focuses on providing a fair-trading environment with competitive fees and innovative products.
Commission and Fees
Nadex prides itself on a transparent fee structure. The main Nadex fees are for withdrawing and opening trading positions, which you can see in the table below. Nadex broker commission:
Withdrawal Fee | Winning Trades Fee | Inactivity Fee | Order Opening Commission | |
Real Account | $25 (regardless of the amount) | Not specified | $10 per month | $1 |
Features of Nadex Personal Cabinet
The Nadex trading platform offers a user-friendly interface with a range of features to enhance your trading experience. In your personal cabinet, you'll find:
- Account Overview: Quick view of your balance, open positions, and trading history;
- Market Watch: Real-time quotes and charts for all available assets;
- Order Entry: Easy-to-use ticket for placing trades;
- Risk Management Tools: Set stops and limits to control your exposure.
What Indicators and Oscillators Can You Use on Nadex Broker?
Nadex provides a suite of technical analysis tools to help you make informed trading decisions. Some popular indicators available include:
- Moving Averages (MA);
- Relative Strength Index (RSI);
- Bollinger Bands;
- Moving Average Convergence Divergence (MACD);
- Stochastic Oscillator;
- Volume Indicator;
- OTFM;
- Dexie;
- ATFM;
- Dex atmix;
- Average true range (ATR).
These indicators can be applied to charts to identify trends, overbought/oversold conditions, and potential entry/exit points.
Deposit & Withdrawal Options on Nadex Broker
Nadex offers several convenient methods for funding your account and withdrawing profits; But the important thing is that the methods of depositing and withdrawing from Nadex in America are different from those in other parts of the world. The table below lists all the methods.
US residents Deposit | US residents Withdraw | Non-US residents Deposit | Non-US residents Withdraw |
Debit Card | ACH (Bank Transfer) | Debit Card | Debit Card |
Paper Check | Wire Transfer (Telegraphic Transfer) | International Bank Transfer | International Bank Transfer |
ACH (Bank Transfer) | Debit Card | - | - |
Wire Transfer | - | - | - |
Minimum deposit in Nadex is $250 and Withdrawal processing time is 2-3 business days.
Copy Trade and Social Trading
Unlike some other platforms, Nadex does not currently offer copy trading or social trading features. The focus is on self-directed trading, where each trader makes their own decisions based on their analysis and strategy.
Broker Nadex Trust Scores
Can you trust Nadex? You can find the answer to this question regarding the experience of other users and their score platforms such as ForexPeaceArmy. Nadex Trust Score:
- Trustpilot: 2.6/5 based on 209 reviews;
- ForexPeaceArmy: 2.1/5;
- Reviews.io: 4.2/5 based on 123 reviews.
Nadex Broker Support
Nadex provides comprehensive customer support to ensure a smooth trading experience:
- Live Chat: Available during trading hours
- Email: customerservice@Nadex.com
- Office: 200 West Jackson Blvd, Suite 1400, Chicago, IL 60606
Nadex's support team can assist with account-related inquiries, technical issues, and general questions about their products. The extended support hours align with their 23/5 trading schedule [Monday ā Thursday, 5:00 p.m. ā 6:00 p.m. ET], ensuring help is available when the markets are open.
Writer's Opinion and Conclusion
Nadex is an old broker and exchange (established in 2009) for trading Binary Options, knock-outs, and call spreads, which the US CFTC regulates. This brokerage was bought by the Crypto.com exchange in 2021. Despite the support of this exchange and proper credit, Nadex Broker needs to provide traders with attractive trading features. What do you think? Will Nadex broker services expand in the future?
