Wanna see if NADEX is a legit broker? Is it safe to trade? Is spread high or low? How long to deposit or withdraw funds?
We provide answers to all the questions in this NADEX Review.
We checked NADEX licenses and regulation status, compared NADEX Fees, spread & commission from the Live account to other 150 brokers. The time for deposit & withdrawal and many more findings, all you can get in this Review.
What is Nadex
NADEX is a North American Derivatives Exchange and is a first US exchange to offer regulated Binary Options, Touch Basket and Call Spreads trading founded in 2004.
NADEX is regulated by top-tier CFTC in the US and is a part of globally regulated holding IG Group.
|🗺️ Regulated in||USA|
|🛡️ Is Nadex safe to trade||Yes|
|💵 EUR/USD spread||Commission 1$|
|🏦 Deposit||Cards, Bank Transfer|
|💰 Minimum deposit||US$250|
|🏦 Withdrawal||Cards, Bank Transfer|
|💻 Trading platform||NADEX Platform|
|💳 Trading markets||Binary Options, Call Spreads and Knock-outs on Forex, Indices, Commodities, Events|
|📈 Number of product||30+|
|📉 Live chat response||Instant and relevant answers|
License and regulation are the keys to money security. Important to check two factors, the broker’s license with its background and how traders protected if anything went wrong.
Is NADEX legit
NADEX is regulated by the USA Commodity Futures Trading Commission (CFTC), and is a part of the globally presented and regulated IG Group (LON: IGG)– FTSE 250 firm with regulations from top-tier FCA, ASIC, MAS and more.
NADEX Licenses and Regulatory status
|North American Derivatives Exchange, Inc||USA||Commodity Futures Trading Commission (CFTC)||Currently Regulated|
Is NADEX safe
NADEX considered safe because regulated by the top-tier CFTC, and is a part of reputable Stock Listed group.
NADEX operates one entity based in the Chicago and regulated according to local laws.
NADEX Compensation Scheme
|Entity||Compensation Amount||Negative Balance Protection|
|North American Derivatives Exchange, Inc||No Protection||Yes|
NADEX provides negative balance protection for trading accounts for the trades that went below zero your account will return to 0.
Markets and Products
NADEX main offering is based on legal Binary Options, Knock-outs for weekly market forecast and Call spreads.
From the downsides, there is no any other popular trading instruments like Forex, CFDs or Futures offered.
Binary Option is a mainstay of the Nadex including Forex, Stock Indices, Commodities and Events, where trader simply bet if the price will go up or down on particular time frame.
NADEX has a single account type, the different apply only whether you are Individual with US Residence, International trader or a Business client, so the conditions are different.
To login NADEX account you should follow registration and account opening to sign-up from the official website link.
Fees and commissions
Fee levels in NADEX ranked as low. However, legal Binary Options is one of the kind in Nadex, so costs can not be properly compared to other 150 brokers Live account spread in our database.
Spread for popular instruments we collect for 6 markets and 150 brokers
|Forex||EUR/USD||0.1-0.9||1-1.5||1.6 or higher|
|Indices||US 500||0.1-0.4||0.5-1.4||1.5 or higher|
|Commodities||Gold||0.1-0.4||0.5-2||2.1 or higher|
|Stocks||Tesla||0.1-0.5||0.6-1||1.1 or higher|
|ETFs||US Russell 2000||0.1-0.4||0.5-1.4||1.5 or higher|
|Cryptocurrencies||Bitcoin||0.1-0.5%||0.6-0.9%||1% or higher|
NADEX Binary Options trading costs are solely built into a commission of 1$ per contract side.
There is no any other fees andtrading conditions depending on the instrument you trade where tick value and allowed number of contacts depending on the asset and type of the trading strategy you perform Binary Option, Call Spreads or Knock-out Contacts.
NADEX has low non-trading fees. There are no fees for deposits and withdrawals are available for free, also market data and software is on a free use.
The trading conditions at NADEX are good for its profile of Binary Options trading. However, standard trading strategies are not available due to the nature of instruments, you can not deploy Hedging or Scalping strategies.
|Change Leverage Allowed||Yes|
Hedging is not available in the US due to regulations also for Binary Options.
For scalping, NADEX does not restrict any trading strategy within Binary Options trading, but typical trading scalping is not available also there is no Expert Advisors (EAs) are available via the MT4 platform or VPS.
NADEX allows to trading leverage, levels deepening on the instrument.
NADEX has no deposit fees.
Deposit options including standard Bank transfer and Credit or Debit cards. Electronic wallets, PayPal or similar are not available due to regulations.
A bank transfer can take several business days, card transfers are instant.
|Deposit Method||Funding Time||Fee|
|Wire Transfer||Few business days||Free|
The minimum deposit requirement is 250$ for Individual account for US residents.
You can make free Debit Card withdrawal, Bank Transfer will incur a 25$ fee. Typically, withdrawal requests are approved by Nadex within 1-2 business days.
|Withdrawal Method||Withdrawal Time||Fee|
|Credit Card||1-2 business days||0$|
|Wire Transfer||1-2 business days||25$|
There is a welcome Bonus offering to get 10% on the initial deposit and refer a friend program.
NADEX uses it own proprietary Platform connected to Nadex Exchange system, supporting all devices and available as Web Platform and Desktop Platform accessible across Windows or Mac.
Mobile Trading platform NadexGO is well developed and has good design suitable for Android and iOS.
There is no APIs available on Nadex Platform, however its parent company IG offers APIs trading.
Research and Tools
NADEX research tools are available directly on the platform, with full-feature charts, good technical indicators and drawing tools.
However, that is all what Nadex research is limited to, there is no Economic Calendar, Real-time News or Fundamental Analysis from market leading providers.
Trading signals available on the platforms and available on your pre-set parameters.
NADEX Research tools available through:
- NADEX platform
- NADEX website – Learning
NADEX education content is informative, you can find Video tutorials, Demo account, Live Webinars and glossary, with quality read Articles defined by topics.
At NADEX you can learn though the following ways:
- Demo account
- Educational videos
- Attend Live Webinars
- Learning articles
Demo Account is Free use and available on limited time basis.
NADEX customer service is available on working days solely through its US branch, we got relevant answer through e-mail.
NADEX Customer Support is available in various languages:
- Live chat
NADEX e-mail response is fast speed, the agents are helpful but Live Chat operate during working hours
|Question Asked||We asked about Trading conditions.|
|Time of Reply||We got response within 1 day.|
|Quality of Reply||The answer was relevant and informative.|
NADEX is a safe broker to trade. The company is one of its kind to offer regulated way to trade Binary Options in the US.
The trading conditions and overall proposal is good, with low costs and range of services.
From the negative cons Nadex specialize only on Binary Options there is no any other trading available.
We recommend NADEX for traders who still prefer to trade Binary Options legally in the US as a way to avoid offshore brokers, even understanding considering Binary Options are high risk investment.
Author of this review
By Jimmy O'Brien
Author of this review
I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets.
I am passionate about observing foreign exchange movements, sharing educational insights into the financial markets, and adding value wherever I can.