Nadex Broker Review
The North American Derivatives Exchanges, known simply as Nadex is a top choice for binary options trading. The site stands above the rest by being the United States’ only fully regulated broker and is subject to oversight from the CFTC, the Commodity Futures Trading Commission.
There are dozens of different trading assets available on Nadex, from various worldwide stock indices to currency exchange pairs to top commodities and even Bitcoins. There is plenty of helpful information on Nadex’s site to help you jump right into binary options trading. In addition to a long list of indices for when you’re ready to invest, Nadex is there to help you even before the trading begins.
Firstly, there is an option to open a demo trading account. This can be very helpful for anyone new to the Nadex trading platform or binary options trading in general.
Additionally, the site offers a very extensive of array of educational tools such as webinars, handbooks (including one about the site itself) and videos.
Spend some time going through and utilizing these tools and you will undoubtedly become a much more experienced trader. Trading on the site is a bit different that many classic European binary options brokers as the trade depends on where the asset settles as opposed to a simple increase or decrease. This feature, coupled with the regulation and education make Nadex one of the top worldwide brokers and much more appealing to experienced traders.
Trading and Payouts
Nadex offers four different trading platforms:
- Free demo trading
- Nadex trader
- Nadex pro trader
- Mobile trading
There is no software to download as Nadex trading is performed entirely on your browser. The demo account is the first step in order to get a handle of trading with Nadex, and then using the extensive education programs, a trader can move on to the Nadex trader. There are no fees for trading with Nadex, except for the fees involved in performing each trade. The site offers very extensive video and text explanations about all of the payments and steps involved in trading with Nadex.
Nadex Deposits and Withdrawals
As Nadex is an officially regulated broker within the U.S., the depositing and withdrawal methods are slightly different for U.S. residents and those outside of the country. For U.S. traders:
- Debit card
- Automated Clearing House (ACH) network bank transfer
- Wire transfer
- Paper check
Withdrawals for American traders can be performed using all of the above methods, excluding a paper check. Deposits at Nadex are available immediately for trading, except in the case of paper checks which take several business days to clear the funds. Non-U.S. traders:
- Debit card
- Wire transfer
Withdrawals can be performed using the above deposit methods.
Customer Service Rating- 8
- Quick Response Times
- 24/7 Phone Response
Asset Choice Rating – 9
- 8 Stocks
- 10 Currency Pairs
- 7 Commodities
- 3 Events
Deposit Method Rating – 10
- Debit Card
- Wire Transfer
- Bank Wire
- Paper Check
Minimum Deposit Rating – 9
Site Intangibles Rating – 10
- Only U.S. Regulated Broker – CFTC Regulation
- Free Demo Account
- Extensive Market and Forex News
- Trading Education Webinars, Videos and Handbooks