Nadex is one of the few regulated financial companies that offers binary options and spreads trading for US market and rest of the world. Because of the high popularity, this CFTC exchange leader offers their clients to trade with multiple global markets with the maximum limitation of risks.
But, before you register and start participating on the vast amount of markets find out more about Nadex payment options and trading costs that are present while you invest.
If you want to find more details about this exchange broker, read our Nadex Review.
Registering with Nadex and First Steps
Trading with Nadex starts with a simple deposit of $250. Traders first need to register with Nadex by filling a simple online application. Nadex registration is free and secured by various electronic safety measures that exceed highest industry standards.
All traders are required to fill their contact information with national identification number while US clients need to provide their social security number in order to proceed. Besides the contact information, nadex requires employment details in order to find out more about their trader’s financial background. After completing a questionnaire and setting login details, traders are welcome to acknowledge the Nadex terms and conditions and complete the application.
It is important to know that Nadex clients can’t make a deposit before they provide documents for account verification.
Making a Deposit with Nadex and Funding your Account
As we have mentioned before, making a deposit with Nadex is not available before account verification. In order to verify your account log into your Nadex account and upload a valid government photo ID, a proof of address and SSN proof. If you have some question regarding the verification steps you can simply contact Nadex by phone or email.
Nadex offers quick and convenient options that allow traders to fund their account. It is important to know that all deposits are made in US dollars.
US residents can deposit using their debit card, bank transfer, wire transfer or with a paper check. Non-US traders have the option to deposit with a debit card or using an International bank transfer. Debit card transactions will be instantly credited to traders Nadex account. Traders can easily store their payment details in their Nadex platform so they can easily make future payments.
Nadex Offers Bonus for a First Deposit
Traders that register with Nadex and make the first deposit have the opportunity to receive free trading days. The number of free trading days depends on the initial deposit made with Nadex. For example, traders will get two free trading days for a $500 deposit. This number increases as a trader deposits more funds. For $1,000 deposit a trader will receive four days and for $10,000 traders can get ten free trading days. Free trading days bonus means that Nadex won’t charge you for your first days of trading.
*Nadex accepts Fee Holiday Bonus only if initial deposit is $500 or more.
Nadex Withdrawal Methods
Traders can make a withdrawal request from their Nadex account by completing the simple form on their trading account. There are several methods available for US residents and it includes ACH withdrawal, wire transfer or debit card that was initially used for the deposit. Non-US residents can use the same methods they were using for depositing, International bank transfer or a debit card.
Wire requests that are sent before 4 PM (ET) from Monday to Thursday or before 3:15 PM (ET) on Friday will be processed on the same day. All other withdrawal requests will be processed within the next business day.
Trading with Nadex Demo and Real Account
Traders that register with Nadex don’t need to pay for registration. But traders need to emphasize that the cost of each trade is charged $1 per contract. Nadex offers two types of trading accounts, a demo, and a real account.
If a trader has no previous experience and wants to practice before placing the real trades, Nadex demo account is the perfect choice he can start with. Nadex demo account is completely free of charge and it requires a simple contact information only. Trading with Nadex demo includes $25,000 of virtual funds that enable all features which are available in the real account.
When a trader decides to switch to real Nadex account, he can continue with regular registration and provide documentation mentioned in first part of this article. Registration with the real account is quick and simple. Although this is a US exchange financial company, trading with Nadex is available for traders over the globe.
Nadex Customer Support and Platform
Traders can easily contact Nadex customer support if they find any questions or difficulties when trading with Nadex. We have found that traders can contact Nadex directly through phone or email. We haven’t found a live chat option. Besides trading with binary options, traders can choose to trade with Spreads too, which allow trading between two price levels. According to Nadex site, trading with Spreads includes better loss protection which increases risk protection.
There are several trading platforms integrated with Nadex which will ensure traders have good trading experience. Besides a standard web-based platform, Nadex introduced mobile apps that allow unique trading features specially designed for touchscreen devices. Nadex exchange is based on a well-known Proprietary platform and all apps are free to use.
Nadex mobile apps enabled traders to fund their accounts from their mobile devices. This way traders have the complete overview from the palm of their hand and they can monitor and fund their accounts in just a few clicks on their phones. Nadex mobile apps are available for both Windows, Mac, Linux, iPhones and Androids.
All platforms are presented in the real time and they include full featured charts and technical indicators. Traders can easily choose which products they want to trade with and they can also draw, annotate and execute trades no matter where they are. Demo account is also available for all mobile devices.