There are many traders that prefer to use demo account before they make a real investment with a broker. Nadex is one of the specific brokerage companies that provide demo account and it is available for US traders too.
For those who still don’t know what Nadex is – Nadex is a derivatives exchange company considered to be the leading exchange in the US. This brokerage company is regulated by the CFTC and it is based in Chicago. Get detailed information about Nadex in our Nadex review.
Can I Trade with Nadex Demo First?
Of course, you can. Nadex allows their traders to start trading with Nadex demo account first. According to the broker, traders get the full access to the Nadex platform with a demo account. Traders don’t need to make any deposits before or provide any credit card details.
The great thing about Nadex demo account is that demo is always available and it does not have an expiration date. Demo platform helps traders to practice and get familiar with all trading tools they will use while placing real trades.
Besides practicing, demo account ensures a risk-free environment, which is the most important thing, especially if you are a beginner in trading binary options.
How to get Nadex Demo Account?
Just go to Nadex official site and choose Trading platforms tab. You will see Demo Trading Platform. In order to activate demo account with Nadex, traders have to open a free demo account. The Nadex demo account comes with $25,000 virtual funds.
Traders have to fill basic information before they open a demo account. We needed less than a minute to open Nadex demo account.
After creating an account, traders will receive an activation email with some basic info about the demo and how to use it. Traders will receive a password, so they will be able to log in to their account.
Can I get More Fake Money on Nadex Demo?
This is also possible. According to the Nadex email, traders that spend the amount of $25,000 virtual funds and ask for more virtual money whenever they want. Nadex will provide a virtual refill for an unlimited amount of times.
How Nadex Demo Platform Looks Like?
The left side of Nadex demo interface shows different types of underlying asset groups traders can choose to trade with. The right side of Nadex platform presents all assets that are available for trading. The upper part of the platform allows traders to check the amount of virtual funds available for trading, info about their account and button for opening Real Nadex account.
Besides mentioned, the upper menu gives access to filter markets, set watchlists, check open positions, working orders and analyze trading history.
How to Place a Trade with Nadex Demo?
Placing trades looks exactly the same as on Nadex real account. Traders will practice with Nadex demo so they won’t feel the difference when they switch to real account. The trader has to pick one of the assets presented on Nadex platform. After clicking on the asset the ticket will be opened.
When the trader is in the phase of placing a trade, a new window opens with several options to choose. The trader will get the information about the asset he will trade with. This information includes the name of the underlying asset, the date of placing a trade, expiry time information, indicative index information.
Opened ticket also provides info about the bid and offer size where traders can set size and a preferred price of the trade. Depending on the invested price, Nadex ticket will also calculate max loss and max profit amount. The bottom part of the ticket allows traders to cancel the trade or place an order.
Ticket window also provides help menu with useful information about how to use Nadex platform, how to place a trade and how to use charts.
After trader chooses to place a trade he will get a pop-up window with the information that order is received and full specification of a specific trade.
Free Nadex Education
Besides free demo account that is available for all traders, Nadex has also focused on providing educational materials for their clients. After you have registered with Nadex demo, traders are invited to join weekly Nadex webinars that are organized for those who are new in trading.
According to Nadex, education is needed so traders can become confident in themselves. Nadex webinars can be useful for learning about new powerful tools and applying different strategies. All things can be applied on a demo account.
Webinars are not the only thing that is provided with Nadex demo account. Traders can also get a free E-Book that might be another learning tool that will clear a lot of things you don’t understand. Nadex E-Book provides basic information about strike prices, expiration times, available markets and some basic trading strategies. The E-Book is full of examples which will help traders to get an idea based on the real situation.
There are several Ebooks available with Nadex:
- Trade direction
- Trade volatility
- Nadex spreads
- Risk/Reward properties
Nadex Real Account
After the trader feels ready to start for real, he is welcome to open a Nadex real account. In order to open real account traders need to provide more personal details than for demo account.
Minimum deposit with Nadex starts with $250 and the minimum investment is just $0,01. The broker has integrated Proprietary platform and it is also available on mobile apps. Nadex is regulated by CFTC, meaning it is available for US traders.
The broker offers customer support that is available only in the English language. Traders can choose between email or phone and we haven’t found a chat service.
Traders also have the opportunity to follow Nadex on Twitter where they can find latest tweets from financial markets.