Nadex Review

The choice of forex broker for trading binary options is important. It is interesting to be able to trade on the regulated Chicago-based online stock exchange Nadex, which has been offering services since 2004. It is worth figuring out how profitable such an offer is for traders and investors.

How to register and how much to pay for services

You won’t have to pay for opening an account.

To open a deposit is enough to have $250, which are listed:

•    from the debit card;

•    bank transaction.

US residents to register should report:

•    address of permanent residence;

•    date of birth;

•    social security number.

You may have to upload documents using the Nadex Trader platform. This is done in a special account dialog box.

Non-residents of the United States will need to report similar data (instead of the social insurance number, you can pass the TIN).

For legal entities located in the United States, business accounts may be opened. The registration procedure is more complicated than for individuals. Therefore you have to:

•    write on email [email protected];

•    Call the number 1-312-884-5678.

On a permanent demo account, you can use a virtual $25,000.

In the process of making transactions you will have to pay, having $50:

•    $1 each – at the entrance;

•    $1 each – on exit. The settlement fee is not charged when the binary option expires from zero.

To withdraw funds and open a deposit – $ 25 each.

What the stock exchange trades

Binary options and spreads on:

•    raw materials – gold, silver, oil, copper, natural gas, corn, soybeans;

•    major currency pairs – EUR / USD, GBP / USD, USD / JPY, EUR / JPY, AUD / USD, USD / CAD, GBP / JPY, USD / CHF, EUR / GBP, AUD / JPY;

•    leading stock indexes – Dow, S & P 500, Nasdaq-100, Russell 2000, FTSE China A50, Nikkei, FTSE-100, DAX;

•    News – federal funds rate, applications for unemployment benefits, Non-Farm Payrolls;

•    touch brackets. This is a new offer that became available from 2019.

The Nadex Trader trading platform and application of technical analysis tools

The use of the platform is available for all operating systems. It is also allowed to switch to the mobile version of the platform and continue managing the transaction. Having a secure MOP market order:

•    increases the security of transactions;

•    contributes to their commission in real time, without any delays.

Technical analysis using ladder diagrams and the transition to placing an order are available in one window.

Since 2019, Progressive Web App technology has been introduced. This has greatly increased the capabilities of NadexGo ™. With this web application, equipped with technical analysis tools, it became possible to simultaneously use two devices for:

•    transactions; 

•    tracking.

How does technical support service work

Only English is used for customer service. The Nadex technical support service works on the so-called Eastern time from 11. 00 Sunday to 17. 00 Friday. US customers can make a free call at 1-877-776-2339, for international calls, the number is +1 312-884-0100.

E-mail of the technical support service is [email protected].

Telephone numbers are available for potential customers, available from 07. 00 to 20.00 from Monday to Thursday, and until 16.00 on Friday:

•    1-866- 296-0167 – for the US (for free);

•    +1 312-884-0162 – for foreigners.

Advantages and disadvantages

A solid stock exchange is the North American division of the British IG Group. Providing financial services to FTSE, the latter has a market capitalization of 2.3 billion EUR. The Nadex is regulated by CFTS, which by definition excludes the possibility of any abuse by the forex broker. Customer funds are placed on the accounts opened with large American banks, which also testifies the company’s reliability.

Conditions for opening an account, trading and withdrawing funds can be considered close to optimal. For training, a permanent demo account is provided, as well as the ability to access:

•    five educational courses;

•    webinars;

•    training videos;

•    trade examples;

•    electronic books;

•    glossary, frequently asked questions and news.

Restrictions, unfortunately, are expressed not only in the refusal of support for other languages. Much more significant of these are entered to open an account by foreigners. A list of eligible countries can be found at https://www.nadex.com/why-nadex/account-types. Representatives of the post-Soviet space are in it.