North American Derivatives Exchange (NADEX) is among the first regulated binary options Exchange in the US. Founded in 2010, the Chicago-based trading platform has gained substantial popularity for its transparency, especially with their fee and the prices set by clients when executing a trade.
NADEX is regulated under the Commodity Futures Trading Commission (CFTC) provisions as a Designated Contract Market or an Exchange and as a Derivative Clearing Organization or Clearinghouse. With a safe exchange mechanism, NADEX is not vested in profits from either side of a trade; the Exchange allows traders to manage their own risk and to set their own prices when executing a trade.
|Company||IG Group, NADEX|
|Based in||Chicago, USA|
|Deposit Methods||Debit card, Wire Transfer, Bank Transfer, Paper Check|
|Withdrawal Methods||Wire Transfer, ACH|
|Minimum 1st Deposit||$250|
|Bonus||Up to 10 free trading days (see table below)|
|Return to Loss||NA|
|Number of Assets||+1000|
|Types Of Assets||Commodities, Currencies, StocksIndices, Forex, Events|
|Expiry Times||Long-term, Short-term|
Phone- US: +1 877-776-2339 international: +1 312 884 0100
NADEX PROSRobust online trading platform
Accessible to US traders
Low spreads and commissions
Transparency in trading
Extensive educational resources
Free trading days on initial deposit
No live chat for customer support
Long withdrawal timeframe
Relatively high initial deposit
Over the years, NADEX has tried to update and simplify its trading platform to offer the best user experience. The current platform offers traders direct access to the market so one can see the bid, offer price and volume of contracts, and be able to trade directly in the market.
The platform also offers real-time access to technical indicators and charts giving you accurate insights into market trends. The web-based trading platform is fully customizable, so you can tailor your view to access only the functions and data you need at a time without requiring to download any software- just login and start trading!
Traders using the NADEX platform can now trade anywhere at any time using their mobile devices. The free to download trading app offers fast and safe access to trading binary options and spreads at the palm of your hand.
ACCOUNT TYPES AND BONUSES
NADEX offers only one standard account that is free to open. A minimum deposit of $250 is required for one to start trading on the platform.
Other than the real trading account, traders can open a free demo account with up to $25,000 in virtual credit to test how the platform works before opening and investing in a real trading account.
All traders who open a NADEX trading account and deposit funds into their account for the first time can enjoy several free trading days. This means no spreads and no commissions for up to 10 days depending on the amount you deposit in your account.
TRADE TYPES AND ASSETS
NADEX provides one type of binary options contracts:
• Short-term options - These types of options have shorter expiration times for example intraday, daily, weekly and options based on events that are set to happen at a specific time and date in the future.
NADEX offers several asset types for both binary options trading and spread trading. Assets are categorized as follows:
Stock Indices- Trading stock indices allows you to take a position on the futures prices of major indices in the US, Europe and Asia including the Wall Street 30, US 500, Chin 50, FTSE 100, Germany 30, Japan 225 and more.
Forex- Trade binary options and bull spreads based on the spot price of leading forex pairs such as EUR/USD, USD/JYP, EUR/JYP, EUR/GBP and more.
Commodities- NADEX lets you trade metals, energies and agricultural commodities using low collateral and with limited risks.
Events- You can trade binary options based on important events that have significant impact on the market. These events include Nonfarm payroll, Jobless Claims and Federal Fund Rate announcements.
NADEX offers US and international traders several convenient and safe methods of depositing funds into their trading account.
Debit Card- Deposit funds into your trading account using major debit cards. The maximum amount that can be deposited using your card is $50,000.
Bank Transfer- Transfer funds from your checking account directly to your trading account using the Account Clearing House network (ACH). On the initial deposit, you can get access to up to $500 in Real-Time Account Funding, allowing you instant access to your funds so you can start trading immediately. Two weeks upon clearing your initial deposit, you can have access of up to $1000 in RTAF as long as you had not returned your deposit.
Timeframe: 2 to 3 business days
Wire Transfer- Both US and international clients can wire funds from a US-based financial institution to your trading account with NADEX. Transfers of $5000 or more are eligible for a credit of $20 for each transfer with a limit of four wire transfers and $80 credit each month.
Timeframe- 2 to 3 business days
Paper Check- US clients can write a paper check to NADEX Inc. and send it to the exchange via mail.
Timeframe- 5 business days
International and US traders can use several safe and convenient methods of withdrawing funds from their NADEX account:
ACH Withdrawal: Transfer funds from your NADEX account to the same bank account you used to make your last deposit. This withdrawal method is free.
Timeframe: 3 to 5 business days
Wire Transfer: Wire funds from your NADEX trading account to the same bank account you used to make your last deposit. Wire transfers will incur a $25 fee.
Timeframe: 1 to 2 business days
TOOLS AND FEATURES
NADEX traders enjoy a wide array of unique and resourceful tools and features that make trading on the platform easier and more exciting.
NADEX Spreads- NADEX spreads come with floor and ceiling levels that determine the highest and lowest price points for a trade. This allows traders to know their maximum possible loss and profit from the get-go.
Spreads trading- Spreads are short-term contracts based on an underlying asset. They are some of the best contracts for hedging against movements in the price of the underlying asset. Spreads trading is available on stock indices, forex and commodities
Education resources- NADEX has an extensive database of trading resources including webinars, articles and ebooks for both the new and professional trader.
Demo account- Traders who are not ready to invest in a real trading account can open a demo account, stocked with $25,000 of virtual currency so you can start trading and test the platform.
NADEX transparency and reliability in trading extends to its customer support. US and international members can reach the customer support team via telephone, mail or email while prospective members can reach the support team via telephone or mail.