Nadex is regulated by CFTC – Commodity Futures Trading Commission.
Nadex is not a classical broker and most of the traders probably don’t know, but it is derivatives exchange company that only accepts US traders. In this review, we will talk about Nadex services, trading platform and all important facts that will help traders understand basic principles of trading their services.
Nadex Special Features
It is interesting to know that Nadex is one of a few companies that is regulated in the United States. Traders are always recommended to trade with regulated brokers because of a safer trading environment.
Trading with Nadex starts with $250 of deposit which is considered as the industry average. The minimum investment is only $0,01, offering beginners to place smaller trades. Signup is easy and in just a few moments traders can start trading with various trades or contracts, as they call them in Nadex. Registration with Nadex is free, but we want to point out there are some fees that can apply while trading.
Nadex provides a simple story, offering just two trading accounts. First Nadex account is demo account while another is real.
Nadex Demo Account is the best way a trader can start trading with Nadex. This also applies to experienced traders that used to trade with European brokerage companies. Trading with Nadex demo is free of charge and traders just need to fill basic info to start trading. Nadex demo account starts with $25.000 of virtual money that enables traders to experience trading platform services and place trades without any risks. Nadex demo platform is available for two weeks only.
Besides Nadex Demo account, traders can later switch to Trader Nadex platform that presents real account. Trader platform provides quick and reliable access to their portfolio. Nadex trader account provides traders with real-time charts which help them make simple decisions. Real-time charts provide detailed information about trades. Nadex Trader accounts allow traders to customize their portfolios which can improve trading experience.
Nadex Trading Software
Nadex platform is using Proprietary software that is user-friendly from what we can say. Trading interface is not designed as it is used to with European brokers and it reminds us of Windows platform.
Because of this, it is easy to use and traders might like it. Every time when a trader logs in, he will be welcomed with a daily overview of the market. Being updated with market news is useful and traders can adjust their trading plans accordingly. This is useful not only for experienced traders but beginners too, so use them wisely, because they will upgrade your results.
Nadex has ensured a desktop platform, but also there is a mobile version too. Nadex mobile app is available both for android users and those who use iOS devices. Mobile platform provides multiple services and lets traders track their trades, create watchlists, customize charts and of course to trade from anywhere they are. Mobile app supports all trading features that are provided on the desktop version, so traders can easily combine those two platforms.
Nadex mobile app has recently been upgraded and has some new features. Check more in our news article.
When we speak about trading options, unlike traditional brokers, Nadex focused on basic trading options that include
- High/Low,
- Long Term
- Nadex Spreads
Traders who thought that can trade 60 seconds or similar options will not be able to do it with Nadex. The shortest expiry time is 5 minutes, and after that Nadex included 1 hr, 24 hr, 24+, End of Day, Week and Month expiry times. Nadex provided an opportunity to activate an early close feature that can be very handy when trader realize he has made the wrong prediction with his trading plan.
Nadex supports only a few assets. Traders are offered to trade with 10 currencies, 7 commodities, 8 stocks, 3 events and bitcoin. Trading with Nadex includes Forex trading too, so traders can combine binary trading and Forex.
Nadex Support Information
Since Nadex is accepting US citizens only, trading platform and website are offered just in English. Since there are a lot of Latin Americans trading Nadex, we think they could include at least Spanish version too.
Traditional brokers usually offer German, French and Italian too, so this is maybe a good thing Nadex could implement it in future.
From our Nadex broker review, we have seen there is no live chat option with Nadex. It is something that most traders like, but in this case, it is not the option. Customer support is available by telephone or email. Traders can reach Nadex support from Monday to Thursday 9:00 AM-8:00 PM and Friday from 9:00 till 4:15 PM. We want to point out that Nadex support doesn’t offer their services on US holidays. Clients can contact Nadex using [email protected] email.
While researching Nadex website, we can say this broker has provided many useful educational handbooks for their traders. Nadex offers a variety of webinars and video tutorials that provide useful information about basic and advanced principles of binary trading. Some parts of education database are free for all traders and non-registered Nadex traders, but some of them are available only for registered Nadex clients only. Nadex provides big FAQ database with most important answers that may be helpful at the beginning of trading on Nadex.
Nadex Banking and Company Information
Nadex is a member of a global financial services provider that guarantees secure payment transactions.
As we have already mentioned, Nadex accepts a minimum deposit of $250 and it is available only for US customers. Traders are offered to deposit and withdraw using Visa, Paper-check, bank transfer, Bank Wire or MasterCard.
It is important to know that Nadex charges their traders with additional fees for depositing and withdrawing their funds. If using wire transfer for deposit, the trader will be charged with $20 for depositing and $25 for withdrawal request. Traders are limited to four deposits in a month. In a case of returned paper cheque, traders will be charged the additional cost of $25. Nadex has provided special fees document where traders can find out more about charges that apply for deposits and withdrawals.
Most of the withdrawals are processed within a same day, but some may take about 3-5 days, depending on a bank.