|Min Deposit||Bonus||Demo Account||Payout||Score|
|$250||10 Free Trades||100%|
Unlike most other binary option vendors, Nadex is an exchange. Nadex (North American Derivatives Exchange) is an online exchange based in the United States and regulated by US law. It is legally permitted to sell binary options to US residents.
Nadex is a US subsidiary of the UK based IG Group, a company listed on the London Stock Exchange. (IG Group is a constituent of the FTSE 250 Index.) In addition to Nadex, IG Group runs IG Index and IG Markets.
Facts about Nadex
|Mobile app||Yes, for Android and iOS|
|Regulation||The U.S. Commodity Futures Trading Commission (CFTC)|
The trading platform
Since Nadex is an exchange, traders can buy and sell on either side of the market and ask and accept their own prices. If a counterpart is willing to accept your offer, you make a deal. This means that it is often possible to close your binary option early if you want to, e.g. to take home profits or limit losses.
If you want to purchase a binary option, you start by selecting underlying and expiry. The market window will now renew to display potential price levels. There is usually around ten price levels to chose among.
The trading ticket will show you important information, such as expiry time, bid size, current bid and offer prices. At the foot of the ticket, you will see maximum loss and maximum payout based on size / investment level.
Traders can amend the price; this is the exchange element of the trading. The make up on Nadex binary options is 0 or 100, so the exchange price will fluctuate within that range.
You confirm a trade by clicking the Place Order button.
- Unmatched orders wait in the Working Orders screen.
- Matched purchase orders move to the Open Positions screen.
When an order is settled, you receive a confirmation email.
The binary options at Nadex have commodities, indices, forex and events as underlyings. Almost anything can be an event, e.g. a fed fund rate rise.
Traders buy and sell options at any point between 0 and 100.
There is a charge of 9 cents per lot, up to a maximum of $9.
Mobile trading apps
Nadex has put a lot of effort into making sure that most of their clients who own a smart mobile phone or tablet can carry out mobile trading in a functional app. Apps are available not just for Android and iOS, but also for Windows Mobile.
All features available in the full website platform are available for mobile trading as well.
Examples of accepted transaction methods for non-United States residents are debit cards and wire transfer. If you are a US-resident, you can also use ACH transfer.
If a wire transfer exceeds 5,000 USD, Nadex will refund the 20 USD banking fee into the trading account.
Withdrawals can only be made through wire transfer, unless you are a US resident. For US residents, both wire transfer and ACH are available for withdrawals. Wire transfer withdrawals costs 25 USD and is typically processed the day after your withdrawal request. ACH withdrawals are free, but will typically take 3-5 days to process.
Advanced charting available, with a lot of great tools included in the platform.
A lot of educational material available, including free webinars.
The demo account is only active for 15 days.
No deposit required to use the demo account.
Nadex doesn’t support robots or any other form of auto-trading
No signal service.