Nadex is a binary options exchange, regulated by the CFTC (US Commodity Futures Trading Commission, which is one of the strongest regulatory authorities in the sector. The company is owned by the UK-based IG Group, which is listed on the London Stock Exchange. It is important to mention that IG Group also operates the UK broker IG Index.
However, Nadex is not a traditional binary options broker; it is rather an exchange. They offer the platform available 24 hours a day, which is according to CFTC and SEC regulations. It is important to state that assets are available for trade only during the business hours in participants´ regions. Every time a person trades they pay a fee, in this case, the fee is $0.90 per lot with a maximum fee of $9.00. Therefore, the exchange makes its money by facilitating the trade, not when customers lose.
Nadex is one of the best brokers for US/North American traders to bank with, according to the number of satisfied customers. It can be said because the funds are 100% safe and guaranteed by the US government. Traders’ funds are kept in separate accounts at BMO Harris Bank or Fifth Third Bank. Further, the payments are fast, usually within a few business days of your request.
Nevertheless, the Nadex platform may be confusing at first because of the number of options available. It includes options for Indices, Forex, Jobless Claims, Fed Funds Rate, Non Farm Payroll, Copper, as well as Corn, Crude Oil, Gold, Natural Gas, Soybeans, and Silver. Further, their platform is rather professional and according to US Government regulations. Nadex provides mobile applications for their platform for all Android, iPhone, and iPad users.
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Nadex Bonus
Since bonuses are very important for many clients, it is vital to say that Nadex provides many bonuses. However, these bonuses are not in the form of cash rewards or incentives because that is against CFTC regulations. The CFTC and Nadex found the way how to keep their customers happy and satisfied, and they offer special promotions regularly. For example, the more money you deposit, the more fee-free days you get. Therefore, if you deposit
- $250, you will get three fee-free trading days
- $500, you get six fee-free trading days
- $1,000, you get nine fee-free trading days
- $3,000 and you will get 12 fee-free trading days
- $10,000, you will get 15 fee-free trading days
Nadex Withdrawal
Nadex allows the citizens of the United States to fund their accounts via debit cards, ACH transfer or wire transfer. All other costumers are able to use only debit card or wire transfers. If your wire transfer is above $5000, Nadex is going to refund you the $20 banking fee into the trading account.
Similar to funding options, withdrawals are available via ACH or wire transfer for US residents, and wire transfer for others. You can find the withdrawal options in the ‘Account funding‘ menu on their site, within the menu ‘My Accounts‘. ACH transfer withdrawals are free of charge and the processing time is 3 to 5 days. On the other hand, a wire transfer requires a $25 fee to be paid but usually is processed within 24 hours.
Nadex Extras
Nadex extras include the Event Binaries as well as Bull Spreads, which are great options for both new and experienced customers. Some other features include in 100% tradability, which is not offered by many companies. For example, you can sell your binary options whenever you want. You are not limited to hold them until expiration.
Currencies
Nadex is generally available around the world, which means that clients from many countries across the globe are accepted to make the trade with Nadex. However, for the North American and US residents the company is definitely the better option than for others. Nadex accepts a trade of 10 currency pairs such as EUR/USD, AUD/USD, EUR/GBP, GBP/USD, USD/CAD, AUD/ JPY, USD/JPY, GBP/JPY, EUR/JPY, and USD/CHF.
Nadex Complaints
Nadex does not have a lot of complaints on their address. Most occasionally, traders have some struggles with the platform since it is a lot different from the platforms used by other brokers. However, all the clients can open a demo account which gives traders a chance to see how the platform works. Therefore, the company provides some kind of education material which is very good and helpful.
The platform indeed is unique, and certainly requires a specific training material. Once the clients finally learn how to use the platform, they become aware that they are dealing with one of the best companies.
As it was mentioned, the complaints are not often, and this is probably due to the fact that regulation of the firm is very strict. The company is required to provide safe and confident service for their clients, which are usually more than satisfied with what they get in return from this company.
Rating of Nadex
User Friendliness – 15/20
The number of Assets and Expiry – 18/20
Commissions, Support, and Effective Returns – 19/20
Deposit, Payment and Bonus – 18/20
Broker Extras – 20/20
