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Nadex
Best broker for Binary Options

Summary

Trading on Nadex involves risk and may not be appropriate for all. Members risk losing their cost to enter any transaction, including fees. 

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The North American Derivatives Exchange (Nadex) is a United State based exchange for binary options, knock-outs and call spreads. The exchange is based in Chicago, USA and it is part of the IG Group; a renowned global brokerage company listed on the London stock exchange (LSE) and part of the FTSE 250 index. Nadex boasts of over 10,000 contracts weekly, the contracts are presented 23 hours a day and 5 days a week as hourly, daily and weekly contracts.

Overall Rating
Trading Features
Accounts Offered
Funding Methods
Client Supports

Creating a new account is fast and easy after which the client gains access to the online trading platform or the NadexGo mobile platform. Nadex charges low commissions on trades. Unfortunately, there are no market research, daily analysis, social trading or signals provided.

PROS:
  • • Reliable exchange duly authorized and regulated by the CFTC.
  • • Low trading fees.
  • • Multiple contract options.
  • • Trading education is provided especially for beginners.
CONS:
  • • Inactivity fees of $10 are charged from dormant accounts.
  • • E-Wallets like Paypal, Skrill, Neteller or even Bitcoin, etc are not allowed.
  • • Clients from several countries are not allowed to register.
  • • No trading signals, research, market news and analyses.
  • • International bank wire transfer costs $25

Fees

4.5

Nadex charges $2 per trade; $1 for entry and $1 for settlement.

 

Nadex trading fees are explicit:

For Binary options contracts, Nadex charges $1 for entry or exit before contract expiration and another $1 settlement fee upon expiration. In short, $1 is charged per side of a trade.

For trading Call spread and knock-out contracts, $1 is charged as a trading fee per contract and another $1 as settlement fee for the contract.

Returned deposit and chargeback attract a fee of $25 while withdrawals via wire transfer are charged $25.

An inactivity fee of $10 is charged monthly from accounts that have remained inactive for at least 12 months.

Account Opening

4.5

Account opening is fast and easy

 

Though Nadex targets US clients, international clients from about 40 countries are allowed. If your country is not the United States, you are presented with a list of countries to choose from. Only clients from the following countries are allowed:

Australia, Austria, Belgium, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Guernsey, Hungary, India, Ireland, Isle of Man, Israel, Italy, Japan, Jersey, Republic of Korea, Liechtenstein, Lithuania, Luxembourg, Malaysia, Malta, Netherlands, New Zealand, Norway, Poland, Portugal, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, United Kingdom, United States and the British Virgin Islands.

 

What is the minimum deposit at Nadex?

The minimum deposit required to open new accounts is $250.

 

Account types

Nadex provides individual accounts, Corporations, LLC, Partnership or Trust accounts.

You can open a Nadex individual trading account within five minutes by completing the account opening form on the website.

For other types of accounts, documentation such as ownership, registration, entity set-up, Trust Agreement, etc is required.

Demo accounts are risk-free accounts that are freely provided for all clients. It is preloaded with $10,000 in virtual funds.

Can you open an account?

Select your country of residence to see if you can open an account at Nadex!

Deposit and Withdrawal

4

Nadex accounts can be funded through Debit cards, paper check, ACH and wire transfers

 

Account base currencies

Nadex accounts are denominated in US dollars. The deposit options available are as follows:

Debit cards: Deposits via this method are processed instantly and funds are loaded into your trading account immediately. Verification of card ownership may be required.

Paper Check: This option is available for US residents only. Checks are processed within 5 working days.

ACH transfer: This electronic bank to bank transfer may take up to 5 days to process. It is not available to international clients.

Wire transfer: Local transfers are completed within 24 hours while international transfers take longer, typically 2-7 working days. International withdrawals through this method attract a charge of $25 per withdrawal.

Trading Platform

4.4

Nadex has its own proprietary web-based platform as well also supports mobile trading.

 

Nadex platform is a web trading platform offered to all clients. It runs on all browsers and requires no downloads or installations. On the platform, clients can easily trade binary options, call spreads and knock-outs. It features a charting package with over 25 technical indicators and analytical tools.

NadexGOTM for mobile is the proprietary mobile platform developed by Nadex for trading binary options, knock-outs and call spreads. It is compatible with all mobile devices including phones, tablets and phablets.

Markets and Products

4.2

Nadex offers 3 main products: binary options, knock-outs and Call spreads

 

Nadex offers its clients the opportunity to trade the following 3 products:

Knock-outs or Touch bracketTM are contracts that incorporate risk management by providing clients with ‘floor’ and ‘ceiling’ prices which act like the regular ‘stop-loss’ and ‘take profit’ prices respectively. The contract expires when the price hits the floor or ceiling price. But, if none of the limits is reached, it naturally expires after one week and the trader receives his payout. The trader can also terminate at will. The underlying markets are forex major pairs, US stock indices. Knock-outs are exclusive to Nadex.

 

Binary Options are contracts that enable a trader to select a strike price and expiration time. It basically asks a question: will the price of a market be above this price at this time? Answer ‘yes’ by buying and ‘no’ by selling. The trader can wait for contract expiration or closeout before expiration. The contracts durations are available as follows: 5 mins, 20 mins, 2 hrs, daily and weekly. Nadex Binary Options contracts are available for forex, indices, events and commodities markets.

 

Call Spreads contracts allow clients to buy and sell call options. It features inbuilt ‘floor’ and ‘ceiling’ prices and the contract expiration is time-based: from 2 hours to 1 week. Nadex call spreads are available for forex, stock index futures and commodities markets.

Research

1

Nadex does not provide market news, research or analysis.

Customer Service

4

NADEX Client support team is available on the phone, email and online chat.

­

The customer service operates on a 24/5 time schedule. The support team works from Sunday from 3pm to Friday at 5pm ET. They can be reached on phone and email. You can also get support by initiating a live chat on the website. NADEX has YouTube and Facebook accounts and can be reached on social media via these channels.

Education

4.5

Nadex has a ‘Learning’ centre with lots of training articles, videos, a blog and a glossary.

 

The Nadex website has a ‘Learning’ Section which contains training resources. There are several training articles and video lessons on important trading concepts, technical analysis, trading strategies, binary options, platform tutorials, etc.

Webinars are constantly scheduled on the website. The website also features a blog that contains lots of articles on trading tips, trading education and platform features. A glossary of about 25 trading terms is provided. Each of the featured trading terms has a full webpage dedicated for detailed explanations.

Safety

Nadex is regulated by the CFTC in the United States.

 

Is Nadex regulated?

Yes, Nadex is regulated by the Commodities Futures Trading Commission (CFTC) in the United States of America.

 

Is NADEX safe?

It can be concluded that Nadex is safe because it is a regulated brand that is backed up by an established brand (IG group) which is a listed on the LSE with a market capitalization of over 2 billion pounds.

 

How you are protected

All clients’ funds are maintained in segregated bank accounts held with BMO Harris Bank and Fifth Third Bank. Nadex does not use investor’s funds to run its daily operations.

Bottom Line

Nadex is an exchange that offers multiple contracts on spread bets, knock-outs and binary options. Founded since 2004, the exchange is located in Chicago and regulated by the CFTC. It offers low trading fees and access to trade forex, indices, commodities and events markets on its proprietary web and mobile platforms. Trading knowledge as well as demo accounts is provided for all clients.

In summary, Nadex is a great choice for US clients who wish to trade options, knock-outs and call spreads.

 

 Risk Disclaimer

Trading on Nadex involves risk and may not be appropriate for all. Members risk losing their cost to enter any transaction, including fees. You should carefully consider whether trading on Nadex is appropriate for you in light of your investment experience and financial resources. Any trading decisions you make are solely your responsibility and at your own risk. Past performance is not necessarily indicative of future results.

  • Trading on Nadex involves risk and may not be appropriate for all. Members risk losing their cost to enter any transaction, including fees. 

  • The North American Derivatives Exchange (Nadex) is a United State based exchange for binary options, knock-outs and call spreads. The exchange is based in Chicago, USA and it is part of the IG Group; a renowned global brokerage company listed on the London stock exchange (LSE) and part of the FTSE 250 index. Nadex boasts of over 10,000 contracts weekly, the contracts are presented 23 hours a day and 5 days a week as hourly, daily and weekly contracts.

  • Nadex charges $2 per trade; $1 for entry and $1 for settlement.

     

    Nadex trading fees are explicit:

    For Binary options contracts, Nadex charges $1 for entry or exit before contract expiration and another $1 settlement fee upon expiration. In short, $1 is charged per side of a trade.

    For trading Call spread and knock-out contracts, $1 is charged as a trading fee per contract and another $1 as settlement fee for the contract.

    Returned deposit and chargeback attract a fee of $25 while withdrawals via wire transfer are charged $25.

    An inactivity fee of $10 is charged monthly from accounts that have remained inactive for at least 12 months.

  • 4
  • Account opening is fast and easy

     

    Though Nadex targets US clients, international clients from about 40 countries are allowed. If your country is not the United States, you are presented with a list of countries to choose from. Only clients from the following countries are allowed:

    Australia, Austria, Belgium, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Guernsey, Hungary, India, Ireland, Isle of Man, Israel, Italy, Japan, Jersey, Republic of Korea, Liechtenstein, Lithuania, Luxembourg, Malaysia, Malta, Netherlands, New Zealand, Norway, Poland, Portugal, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, United Kingdom, United States and the British Virgin Islands.

     

    What is the minimum deposit at Nadex?

    The minimum deposit required to open new accounts is $250.

     

    Account types

    Nadex provides individual accounts, Corporations, LLC, Partnership or Trust accounts.

    You can open a Nadex individual trading account within five minutes by completing the account opening form on the website.

    For other types of accounts, documentation such as ownership, registration, entity set-up, Trust Agreement, etc is required.

    Demo accounts are risk-free accounts that are freely provided for all clients. It is preloaded with $10,000 in virtual funds.

  • 4
  • Nadex accounts can be funded through Debit cards, paper check, ACH and wire transfers

     

    Account base currencies

    Nadex accounts are denominated in US dollars. The deposit options available are as follows:

    Debit cards: Deposits via this method are processed instantly and funds are loaded into your trading account immediately. Verification of card ownership may be required.

    Paper Check: This option is available for US residents only. Checks are processed within 5 working days.

    ACH transfer: This electronic bank to bank transfer may take up to 5 days to process. It is not available to international clients.

    Wire transfer: Local transfers are completed within 24 hours while international transfers take longer, typically 2-7 working days. International withdrawals through this method attract a charge of $25 per withdrawal.

  • 4
  • Nadex has its own proprietary web-based platform as well also supports mobile trading.

     

    Nadex platform is a web trading platform offered to all clients. It runs on all browsers and requires no downloads or installations. On the platform, clients can easily trade binary options, call spreads and knock-outs. It features a charting package with over 25 technical indicators and analytical tools.

    NadexGOTM for mobile is the proprietary mobile platform developed by Nadex for trading binary options, knock-outs and call spreads. It is compatible with all mobile devices including phones, tablets and phablets.

  • 4
  • Nadex offers 3 main products: binary options, knock-outs and Call spreads

     

    Nadex offers its clients the opportunity to trade the following 3 products:

    Knock-outs or Touch bracketTM are contracts that incorporate risk management by providing clients with ‘floor’ and ‘ceiling’ prices which act like the regular ‘stop-loss’ and ‘take profit’ prices respectively. The contract expires when the price hits the floor or ceiling price. But, if none of the limits is reached, it naturally expires after one week and the trader receives his payout. The trader can also terminate at will. The underlying markets are forex major pairs, US stock indices. Knock-outs are exclusive to Nadex.

     

    Binary Options are contracts that enable a trader to select a strike price and expiration time. It basically asks a question: will the price of a market be above this price at this time? Answer ‘yes’ by buying and ‘no’ by selling. The trader can wait for contract expiration or closeout before expiration. The contracts durations are available as follows: 5 mins, 20 mins, 2 hrs, daily and weekly. Nadex Binary Options contracts are available for forex, indices, events and commodities markets.

     

    Call Spreads contracts allow clients to buy and sell call options. It features inbuilt ‘floor’ and ‘ceiling’ prices and the contract expiration is time-based: from 2 hours to 1 week. Nadex call spreads are available for forex, stock index futures and commodities markets.

  • 4
  • Nadex does not provide market news, research or analysis.

  • 1
  • NADEX Client support team is available on the phone, email and online chat.

    ­

    The customer service operates on a 24/5 time schedule. The support team works from Sunday from 3pm to Friday at 5pm ET. They can be reached on phone and email. You can also get support by initiating a live chat on the website. NADEX has YouTube and Facebook accounts and can be reached on social media via these channels.

  • 4
  • Nadex has a ‘Learning’ centre with lots of training articles, videos, a blog and a glossary.

     

    The Nadex website has a ‘Learning’ Section which contains training resources. There are several training articles and video lessons on important trading concepts, technical analysis, trading strategies, binary options, platform tutorials, etc.

    Webinars are constantly scheduled on the website. The website also features a blog that contains lots of articles on trading tips, trading education and platform features. A glossary of about 25 trading terms is provided. Each of the featured trading terms has a full webpage dedicated for detailed explanations.

  • 4
  • Nadex is regulated by the CFTC in the United States.

     

    Is Nadex regulated?

    Yes, Nadex is regulated by the Commodities Futures Trading Commission (CFTC) in the United States of America.

     

    Is NADEX safe?

    It can be concluded that Nadex is safe because it is a regulated brand that is backed up by an established brand (IG group) which is a listed on the LSE with a market capitalization of over 2 billion pounds.

     

    How you are protected

    All clients’ funds are maintained in segregated bank accounts held with BMO Harris Bank and Fifth Third Bank. Nadex does not use investor’s funds to run its daily operations.

  • Nadex is an exchange that offers multiple contracts on spread bets, knock-outs and binary options. Founded since 2004, the exchange is located in Chicago and regulated by the CFTC. It offers low trading fees and access to trade forex, indices, commodities and events markets on its proprietary web and mobile platforms. Trading knowledge as well as demo accounts is provided for all clients.

    In summary, Nadex is a great choice for US clients who wish to trade options, knock-outs and call spreads.

     

     Risk Disclaimer

    Trading on Nadex involves risk and may not be appropriate for all. Members risk losing their cost to enter any transaction, including fees. You should carefully consider whether trading on Nadex is appropriate for you in light of your investment experience and financial resources. Any trading decisions you make are solely your responsibility and at your own risk. Past performance is not necessarily indicative of future results.

  • Chicago
  • 100
  • CFTC
  • Binary Options
  • 2004
  • https://brokerspilot.com/brokers-list/page/2/
  • • Reliable exchange duly authorized and regulated by the CFTC.
    • Low trading fees.
    • Multiple contract options.
    • Trading education is provided especially for beginners.

  • • Inactivity fees of $10 are charged from dormant accounts.
    • E-Wallets like Paypal, Skrill, Neteller or even Bitcoin, etc are not allowed.
    • Clients from several countries are not allowed to register.
    • No trading signals, research, market news and analyses.
    • International bank wire transfer costs $25

Trading foreign exchange on margin carries a HIGH LEVEL OF RISK, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose.

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