Nadex (North American Derivatives Exchange) is the first and largest US-based exchange, offering short-term binary options, Touch Bracket, and call spreads contract trading on forex, commodities, stocks, indices, metals, and energies.
The broker offers 3 different ways to trade: Intra-day, daily or weekly binary options, Touch brackets contracts, and call spreads. These methods of trading ensure that traders know their maximum potential profit or loss upfront. They provide their own proprietary desktop and mobile trading platforms.
Nadex Review Introduction
In this Nadex review, we will take a look at some of the most important factors worth considering when choosing a broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare brokers including Nadex.
Nadex Platforms & Tools
The broker provides traders with their own proprietary in-house developed trading platform for desktop and NadexGo for mobile. Trades can be entered and managed between the desktop and mobile platforms, thereby allowing traders to place a trade via the desktop platform and manage it later via the Nadex mobile platform while on the go. The mobile trading platform offers the same full range of products, features, and markets as the desktop platform, which includes full charting and technical analysis tools and more. It is compatible with iOS and Android devices and can be downloaded from relevant app stores.
There is also the Depth of Market & Advanced Orders plugin, which is user-friendly and helps in placing and modifying orders. The Free Real-Time Data & Charts ensures that orders are sent directly to the exchange without going through an intermediary Broker.
Nadex does not provide any standalone tools on their website, but the Nadex platform has an abundance of built-in tools for conducting detailed chart analysis.
Nadex Research & Education
Nadex provides their clients with a good selection of educational materials, which are freely available on their website. They include educational courses, educational videos, trading eBooks, webinars, trade examples, glossary, and much more.
Nadex Trading Accounts
Nadex offers a choice of different account types for traders to trade binary options and spreads. The account types differ according to jurisdiction and use, thus:
- Individual accounts for individuals who are US residents.
- Individual accounts for non-US residents from eligible countries.
- Business accounts for trusts, partnerships, LLC, and corporations.
- Demo Accounts for ‘paper trading’ with $25,000 virtual funds.
The costs of trading call spreads and binary options via Nadex are very competitive, with the fee being $1 per contract side and $2 round turn.
Nadex Account Funding
Nadex offer wire transfer, debit card, and ACH (the US only) as account funding options. The transaction fees and the processing time vary with the payment method in use.
Nadex Customer Service
Nadex offers customer support services via email and telephone, and they are available 24/5 during normal US office hours.
Nadex is based in Chicago, and it is regulated by the Commodity Futures Trading Commission (CFTC) as a financial exchange. CFTC is a US government agency overseeing futures, options, and swaps trading.
Nadex is also Part of the IG Group (LON: IGG) which are authorized and regulated by the Financial Conduct Authority (FCA).
Nadex Review Summary
Nadex is a regulated and industry-leading exchange for short-term binary options, Touch Bracket, and call spread contracts. They offer clients flexible trading on forex, commodities, and stock indices with competitive trading fees. The broker provides traders with a vast range of educational materials.
It is worth mentioning that some of the trading products and services in this Nadex review may differ or not be available to traders in some countries due to regulations. As brokers terms can change over time, please verify all information is up to date directly from the Nadex broker website which you can visit by using the link below.
Trading complex instruments can come with a high risk. You should consider whether you understand how investments and trading work and whether you can afford to take the high risk of losing all of your money.