Nadex, or North American Derivatives Exchanges, is one of the most popular choices for trading binary options. It is the only fully regulated binary options broker in the USA and they are regulated by the Commodity Futures Trading Commission (the CFTC). Nadex offers many different assets for trading on their interface including currency exchange pairs, Bitcoins and stock indices from around the world. The website also offers lots of useful information to assist new traders to get started with their trading experience. To appeal to those who wish to test our their trading interface, Nadex offer the option of opening a demo trading account. They also have many excellent education resources including handbooks, videos and webinars to help novices as well as more experienced traders who are looking for more complex strategies to try.
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Nadex Trading Platform
Nadex have four different trading options available to users. As well as their free demonstration account, they also have the Nadex Trader account, the Nadex Pro Trader Account and a Mobile Trading account. Nadex is a browser based broker and therefore there is no need to download any software to a PC in order to access the interface. This is useful as it requires very little in the way of computer memory or resources. Nadex charge no fees for trading with them, except for those levied on executing a trade. Those who prefer trading on the go can access the trading platform from their mobile device, and it is possible to download the Nadex trading app for Windows 7 phones, Android devices and iPhones. Currently, Nadex only offers two trading types – bull spreads and classic binary. Classic binaries are fixed risk derivatives and they are based on either a no or yes proposition. Bull Spreads on the other hand are contracts that have both floor and ceiling levels to define the lowest and highest points at which prices can settle. These operate in much the same manner as Touch Options. Nadex offers a customised trading experience so that investors are able to fine tune their trading platform to display the functionalities and data that they use most. Nadex’s live trading account requires a minimum deposit of $100 in order to begin trading and the registered user must have a permanent address in the United States and be based in America. They must also hold a U.S bank account and have an American social security or tax identification number in order to be eligible to trade with this provider. The average payout that traders can expect to receive from Nadex is about 75%, however fees are payable on every executed trade with every filled contract costing a minimum of $0.90 and up to $9 per side. There is also a $25 fee charged for returned checks and for wire transfers. For this reason, Nadex is best suited to more experienced and professional investors. Nadex offer quite a large amount of assets for the American market, although the range is limited by European standards. There are 23 assets to select from across the commodities, events, indices and forex markets.
Nadex Customer Support and Reliability
Nadex offer an effective system of customer support to answer queries and provide technical solutions to issues. The team can be contacted via email and through the telephone helpline, and there is even the option of contacting the support team via fax. Nadex trading hours are from 6pm ET on Sundays through to 4.15pm ET on Fridays. The trading platform has an excellent rate of reliability, being operational 99.9% of the time. The system is also incredibly secure, being fully encrypted to protect the personal and financial details of users. All trader bank accounts are kept segregated in accordance with CFTC regulations and because Nadex is a CFTC regulated broker, investors are covered by legal protection from any manipulation, fraud or abusive practices.
Banking, Deposits and Withdrawals With Nadex
As Nadex is an official American regulated broker, there are slightly different withdrawal and deposit methods available for United States residents to those offered to international traders. US traders are permitted to deposit funds into their trading account using a debit card, an ACH (automated clearing house) network bank transfer, a wire transfer or a paper check. With the exception of the paper check method, American traders can also withdraw their funds by using any of these methods. Apart from paper checks, which take several days to clear, all deposits made to Nadex trading accounts will be instantly available for trading. Traders from outside the United States are able to withdraw and deposit funds via debit card or wire transfer.
Advantages and Disadvantages of Choosing Nadex
Nadex is a reliable and regulated broker with a good choice of assets for an American operator. Their 23 assets are available with a choice of expiry times and their interface allows for advanced charting capabilities and real time streaming of data. As they are CFTC regulated, traders can be reassured of the safety and security of their financial transactions and can rely on the legal protection that this regulation brings. However, there are disadvantages of choosing Nadex in that their trading accounts can only be opened by residents of the United States and that there are only two types of trading contract available for investors to execute.
Nadex is technically an exchange rather than a broker, however access to their services is relatively simple. Thanks to the low minimum deposit levels and the robust yet flexible trading platform, it is very simple to start trading. Also, as Nadex are CFTC regulated they are completely in compliance with American security laws which is an advantage for those who want to execute trades in complete confidence.