Broker Nadex is a binary options broker mainly working with US and EU traders. The company was founded in 2009, officially registered in Illinois, and regulated by US legal regulations; the broker’s regulator is CFTC. Nadex’s competitive advantage is its completely transparent work, constantly monitored by one of the most reputable regulators in the world. A distinctive feature is unique binary options products and direct access to US exchanges.

Trading conditions are more designed for professional traders committed to long-term cooperation. The high minimum deposit ($250) and withdrawal fees ($25 per request) put off newbie traders.

How to start trading with a Nadex broker?

How to start trading with a Nadex broker?

On the Nadex trading platform, the user’s login, password, and minimum information do not open access to the broker’s financial instruments. 

The procedure for creating an account on the broker’s website consists of several stages.

Step 1. Enter your first and last name, email, and password to log into your account.

Step 2. The system asks if you are a US resident. Clients without US citizenship need to select a country from the list. A US or EU resident must provide an address of official registration and actual residence; personal information.

Step 3. Indicate your date of birth and social status. It is also necessary to enter information about the trading account on another service licensed by the American regulator. The system will ask for your social security number.

Step 4. Here you need to agree with the account verification rules. After filling in all the fields, go to your email and save your login information.

Step 5. Upload copies of documents confirming your identity and address. 

The verification prosess will take about five days. 

Customer support at the Nadex broker

Customer support at the Nadex broker

If a trading platform user has any problems or questions while working, he can contact the support service. There’s no phone number listed on the main page, but existing clients can access customer support via phone through their accounts. 

Prospective clients can email customer service or use the chatbot on the Contact page to initiate a conversation. 

Year of foundation 

Nadex is an American binary option and FX broker founded in 2004. It is under the jurisdiction of the CFTC regulator (USA). 

Regulation

Broker Nadex is officially registered in Chicago (Illinois, USA). The company is licensed by the CFTC, the government agency that controls options and futures in the United States of America. In addition, clients’ assets are kept in the accounts of the world’s leading banks. 

Key broker features 

We have analyzed the trading conditions of Nadex for direct and hidden commissions. The main commissions are:

  • $25 regardless of the withdrawal amount.
  • Fixed commission for opening a trade, which is $1. 

Since the broker provides binary options trading services, there is no spread.

Nadex Broker - Trading Fees
Nadex Broker - Trading Fees

Market coverage

Nadex Broker - Market coverage

Indices

Nadex Broker - Indices

Nadex clients can purchase contracts for various US and global stock indices. US markets include the Dow Jones Industrial Average, S&P 500, NASDAQ, and Russell 2000. For international markets, contracts can be purchased for the FTSE 100, China A50, Nikkei 225, and the German DAX.

Forex 

Nadex Broker - Forex 

Currency trading is always a significant part of derivatives markets and the broker allows customers to trade 11 different FX pairs, including major pairs like USD/EUR, USD/JPY, EUR/JPY, and EUR/GBP.

Commodities

Nadex Broker - Commodities 

Nadex supplies traders with lots of different opportunities in commodities through binary options, call spreads and knock-outs. You can trade precious metals, as gold, silver, copper, as well as energy, like crude oil, natural gas, or agriculture, as corn, soybeans. 

Trading platforms

Nadex Broker - Trading platforms 

The company tries to provide the most comfortable trading conditions. That is why the broker offers the NadexGO trading platform for clients to use. 

This trading platform connects the user directly to the exchange. This allows the trader to receive accurate prices and quickly place orders. The terminal itself differs slightly from the usual MT4 for traders. There are no analytical tools on the platform, so clients who need analysis will use additional software. However, there are various indicators and charts on the official website. 

The terminal provides trading in the following financial assets:

  • Stock indices
  • Commodity raw materials
  • FX currency pairs
  • Crypto

Trading accounts

Nadex Broker - Trading accounts

The broker provides clients with access to several types of accounts:

Individual account

Available to US residents only.

To open an account you must:

  • Download the required documentation and replenish the deposit for the minimum amount.
  • Fill up the information:
    • The permanent address of residence.
    • Date of birth.
    • Social security number.
  • In some cases, a company may require you to upload an image of one or more documents.
  • You need to log into your profile to upload documents, click on the My Account link, and upload an image in the corresponding dialog box.
  • You can start trading from $250.

Individual account (international)

Intended for international participants.

To open an account you must:

  • Provide:
    • A permanent address of residence.
    • Date of birth.
    • National identification number (or social security number).
  • Upload documents to verify the name, date of birth, and address when applying.
  • Finally, the trading account will be serviced according to the standards of US residents.

Business account

An account is intended for trusts, LLC partnerships, and corporate accounts based in the United States.

To open an account you must:

  • To provide documentation that confirms the status and ownership of the organization and that the company is authorized to participate in the trade offered by Nadex.
  • To provide a Nadex Entity Membership Agreement, Unanimous Agreement Resolution, Form W-9, and a valid ID for each signatory on the application.

What else should you know about Nadex?

The main feature that the broker does not take part in trading. Its main task to perform intermediary functions. Another critical point is related to the fact that clients’ funds are kept in separate bank accounts. Thus, users’ money is protected from various force majeure situations.

Broker’s trading platform has reached a high level of development, which is rare occurrence for any commercial Internet project.