Nadex Broker Review 2017

FairBinaryOptions Broker Certificate
  • Min. Deposit $250
  • Max. Payout
  • Min. Investment $25
  • Mobile Yes
  • Software Proprietary
  • LiveChat No

Many customers are confused when it comes to Nadex, derivatives exchange designed for the retail traders, and in our Nadex review we will try to explain basic principles of binary options trading by using their services.

It is important to mention that Nadex is not a classic broker, as are those in other parts of the world. Nadex platform should be seen as a bridge between two interested sides in binary options trading. It is regulated by Commodity Futures Trading Commission (CFTC).

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  1. NADEX Account Features

    Nadex is one of the only US regulated binary option exchanges. All traders need to do is sign up and choose between various trades, or contracts, as they call them. Signing up is free but it is important to emphasize that there are various fees that apply while trading.

    Nadex offers only two account types to choose from, with only one being a real trading account, and other being demo account. Our review showed that after a long time, Nadex started to accept non-US residents as well.

    Demo Trading Platform is basically a demo account. Nadex review showed that this is the best way to start binary options trading even for more experienced traders who never traded in the US market before, as Nadex is a bit different than regular brokers. Demo account is completely free and requires only basic information such as name, country, phone number, email, and username. Every trader gets $25,000 in fictional money that enables experiencing the platform and placing trades.

    Trader platform is something that could be considered regular account, as it gives traders fast, reliable and easy access to the trades. The traders are presented with real-time charts that give detailed insight into trades and makes decision-making a lot easier.

    As Nadex is not an ordinary broker, it doesn’t offer traditional bonuses in money, but has special “Fee Holiday Bonuses”. Our Nadex review showed that their bonuses are fee free days that can be used in order to avoid fees. The free trading days begin from the day the first trade is placed, but in case a trade continues to the next day, that is not free, the benefits of the free day will not apply. The bonus days are awarded as listed below.

    • 2 days, for $500 initial deposit
    • 4 days, for $1,000 initial deposit
    • 6 days, for $3,000 initial deposit
    • 8 days, for $5,000 initial deposit
    • 10 days, for $10,000 initial deposit
  2. NADEX Trading Software

    Nadex platform is easy to use, although not as well designed as those belonging to European brokers. The entire interface reminds much of MS Windows, but generally speaking, it is user-friendly. One of the most useful features is the welcome note that appears every time a trader logs in.

    Besides the desktop platform, our Nadex review showed that they offer a mobile platform that is available as an app for iOS and Android smartphones and tablets. The app enables tracking of the financial market, customizable trading charts, watchlist creating, and fast and easy trading no matter where the trader is. Mobile apps are always a great addition to the portfolio, but Nadex app doesn’t offer anything that isn’t offered in the desktop version of the website. It does come in handy when a personal computer is out of reach.

    The Nadex review would like to point out that, compared to the traditional broker, Nadex offers very little variety and is limiting the liquidity. Options offered by NADEX are High/Low and Long Term, as well as Nadex Spreads. There is no opportunity to trade 60 seconds or One Touch options as the shortest expiry time is 5 minutes. On the other hand, traders have the opportunity of early close in case they realize they made the wrong prediction.

    Traders can choose between 8 stocks, 10 currencies, 7 commodities, and 3 events. Nadex offers Forex trading as well.

    Your capital might be at risk
  3. NADEX Support Information

    Nadex binary options trading platform is available only in English, which we consider to be a bit strange, if we take into consideration that many US residents aren’t so proficient in English that they can understand all Terms and Conditions, and Nadex accepts offshore traders as well. Adding Spanish as the second language would be a great feature, as they make a large minority in the US, and Italian, German and French would be welcomed as well. The customer service can be reached by phone or by email during the trading hours (6 pm ET Sunday through 4:15 pm ET Friday, excluding end-of-day processing hours which occur between 5 pm and 6 pm ET on Monday through Thursday). Nadex trading platform and customer service are closed on the US holidays.

    Our Nadex review clearly shows that they are dedicated to educating their customers, so they offer a number of webinars and handbooks. Some of them are completely free and can be used even by traders signed up with other brokers while some are reserved for registered traders only. There is also a useful glossary available with all important terms in binary options industry, and educational videos that explain some basic principles of the trading like what are binary options, what are trading possibilities and advice on how to trade. FAQ section offers answers to all common questions about accounts, security, and trading.

    NADEX accepts traders from all over the world, but not from all countries. The list of eligible countries can be found on NADEX website. Traders will, of course, have to deliver several important information like permanent residential address,  and national identification number or social security number. These have to be verified by documents requested by the broker.

    Your capital might be at risk
  4. NADEX Company Information

    In Nadex review, we found out that Nadex is a part of IG group, a global financial services provider, which guarantees safe and smooth transactions. Nadex offers various methods of depositing and withdrawing.

    Minimum deposit is $250 for both US and non-US residents. US customers can make a deposit via debit card, bank transfer, wire transfer, and paper check while non-US residents can deposit using a debit card and wire transfer. Maximum deposit when using a debit card is $50,000, but it can be lower depending on the bank. US residents may withdraw their money by using bank or wire transfer, and offshore residents can use only wire transfer. In the case when traders use a debit card to make a deposit, there are special terms of withdrawal, as the funds cannot be transferred to the debit card. The trader must send relevant bank statement after sending a withdrawal request and send a 9-digit routing number. The money will be received via wire transfer. Wire withdrawal requests received before 4pm ET, Monday through Thursday, or before 3:15pm ET on Friday will be processed on the same business day. All requests received after the cut-off time will be processed the following business day.

    In Nadex review, we already mentioned that they charge some additional fees. Every wire transfer is charged $20 for depositing or $25 for withdrawing, with a limit of 4 transfers a month in the case of depositing. Besides that, Nadex charges fees for lots traded: $1.00 per contract, capped at $50.00 per side. Returned check will cost traders $25. There is an elaborate guide about fees and costs, so make sure to read it carefully.

    Withdrawals are usually processed the same day, but it might take 3-5 days to see the funds on the account. Before making a complaint about poor service, remember that Nadex doesn’t offer 24/7 customer service and that technicalities as a day of the week or time of the day may influence the withdrawal period.

  5. Your capital might be at risk

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