Nadex is the only broker on binaryrobot.org that accepts US customers. In this Nadex review, we will bring out all important facts about binary options services provided by Nadex. Traders will recognize that this is not a classic broker, after all, it is specially tailored for US market and according to the rules of CFTC. NADEX is regulated by Commodity Futures Trading Commission.
NADEX Special Features
While we are constantly searching for new brokers that support US traders, we have found out that NADEX is one of few exchanges on the binary market that supports US traders to trade legally. The signup process is pretty much the same, as it is for other brokers. When you become a NADEX client, there are various trades or contracts that can be chosen to trade with. Registration with NADEX is completely free, but it is important to point out there are different fees that arise while trading.
Nadex serves two trading account types, with one being only for US residents and second for international clients.
- Minimum deposit is $200
- Maximum Returns – Unlimited
- Minimum investment – $0,01
- Maximum investment – $100
There is also a Permanent Demo Account available and it is funded with $25,000 virtual money. Nadex members can practice trading different strategies, learning to handle the platform all use demo account for free. Traders who have opened real trading account can also use a demo. Our Nadex review showed that demo is the best way to start trading with Nadex, as a result of Nadex being different than other regulated binary brokers.
Trader platform claims to represent real time charts with very detailed insights about trades. Accoridng to NADEX, platform gives accurate, fast and reliable access to all assets which makes decision making much easier. Traders can customize their trading account according to their preferences.
NADEX Software Platform
Nadex platform is very different from what we are used with other European brokers we have reviewed. The trading platform is very much alike MS Windows operating system. We like the Nadex welcome note which shows each time traders login to their account. The welcome note provides a daily market overview with all important news that can be used for placing future trades. We recommend traders to read market news on a daily basis.
Nadex platform is also available for mobile devices offering apps for Android and iOS phones and tablets. You can trade from anywhere using Nadex free apps. Mobile platforms offer same powerful features that are available with the desktop version. Mobile apps let you:
- Filter strike prices for preferable trades
- Using portrait charts mode for multiple strike prices
- Landscape mode for price history and technical indicators
- Demo account
- One tap order replacement from chart
- Pinch and zoom control
- Customizing charts using different indicators
In comparison with European traditional brokers, Nadex has a lower amount of options which limits the liquidity. Available options are High/Low, Long Term and Nadex Spreads. There are no short term options like 60 seconds or 1 minute trades. On the contrary, Nadex clients can use the opportunity of an early close feature if they feel they have the wrong prediction for placed trade.
In our Nadex review, we have found traders can trade with stocks, commodities, and Forex.
NADEX Support Information
The trading platform is only available in English language and it is based on the Proprietary platform. We find this unusual since the broker offers its services worldwide and it is an industry practice to be available for more languages. From our perspective, Nadex should add Spanish, French, Italian and German languages into consideration. Customer support is available through phone or by email – [email protected] and one of the shocking things is, there is no live chat option. Support phone line is available from 6 pm ET Sunday through 4:15 pm ET Friday. We need to point out that Nadex platform and customer support closes its service during US national holidays.
Nadex seems to be oriented towards the education of its clients since they offer a vast amount of handbooks and organize webinars. Some education materials are free of charge. There is also Nadex glossary and FAQ section where traders can find answers to all frequently generic questions.
NADEX Banking and Company Information
- Bank Wire
Minimum deposit of $250 is valid for both US and non-US clients. US clients can deposit with a debit card, bank and wire transfer and paper check. Non-US clients can only deposit with a debit card or wire transfer. The maximum deposit you can transfer through debit card is $50,000.
We want to point out that non-US traders can withdraw only by wire transfer, while US clients can withdraw through a wire or bank transfer.
If a money was deposited through debit card, there are special terms applied that regards withdrawals. Traders have to send withdrawal request and bank statement with a 9-digit routing number. Withdrawal will be transferred through bank wire.
As we have already mentioned before, Nadex is charging additional fees for some of its services. For wire transfer, Nadex will charge $20 for deposit and $25 for withdrawal. Clients are limited to 4 possible deposits in one month. Returned check will also be charged $25.
Withdrawals are processed very fast, usually in the same day. It takes about 3-5 days to have funds visible on the account.