Nadex was the first and still the most trusted binary options broker located in the United States. They are based out of Chicago, Illinois, and thanks to this, they are fully under the jurisdiction of United States law. This is a good thing for traders in the U.S. looking for a safe and trustworthy broker to use in their binary options trading.
Opening for business in 2004 under the name HedgeStreet, Nadex adopted its current name in 2009 and has continuously grown in size since then. They are now the most trusted binary options broker for those located within the United States. If you live here and want to trade, this is the first and only site that you will need to look at.
Nadex Trading Review
Nadex is regulated by the U.S. Commodity Futures Trading Commission (CFTC). They are one of the few regulated binary options providers within the United States. They primarily serve clients based in the United States.
Nadex runs with a proprietary trading platform. Because it is regulated by the CFTC, this platform is constantly monitored. Safety and security are very serious focuses for this company, and their software is perhaps the most trustworthy that you will find. They are under the full coverage of the U.S. government.
Banking with this Provider
Deposits to Nadex are about as simple as it gets. Deposits can be made in a number of different ways. You can use a debit card, bank transfers, wire transfers, or a paper check. This might take a little bit longer than the instant deposit options that some other brokers offer, but it guarantees the safety of your money and helps to prevent fraud in a much more thorough manner than any other broker can do.
Withdrawals can be made by an ACH transfer or by wire transfer. They are typically processed within one business day, and often show up in your bank account in as little as three days after your withdrawal request has been made. You will need to provide documentation of your address and identity thanks to U.S. legal restrictions in order to have your transactions processed, but this is a simple process and can be taken care of before you make your request in most cases.
Demo Trading is Very Important
If you are new to trading, demo trading is going to be your best move after you create your account. This binary options demo account allows you to experience the Nadex trading platform, testing it out in real time, all without needing to risk real money. Once you are ready to move on to the actual trading platform, you can. While doing this Nadex review, we determined they really want their traders to succeed, and encouraging demo trading is a good way to make this happen.
Trading Style at Nadex
The Nadex platform allows you to trade options for as little as $1 per trade, depending on the kind of returns you hope to receive.
If you have experience in the binary options world, one of the first things that you will notice with Nadex is that their trades are structured differently than the European style options you’ve been exposed to. Rather than a structure where you are trying to predict if the current price of an asset will go up or down over the stated timeframe before the expiry, earning an agreed upon rate if you are correct in your prediction, Nadex options are a little different. Here, you will be asked whether the price will be above or below a given point upon expiry. In this respect, Nadex is very similar to other binary options brokers. But instead of risking a certain amount, you need to select a payout. If you choose to have $100 returned to you for a correct trade, you might need to risk $60, if the trade if more likely to be successful. Unlike with other brokers, you need to confront the issue of spreads at Nadex.
Nadex also allows their traders more complete control over each and every trade they execute. Unlike other brokers where you take out a trade and hope for the best, Nadex does allow traders to end their positions early in many cases in order to cut their losses or to realize their profits early. This is a good risk management tool to have in your bag of tricks.
In addition to a binary options trading platform, Nadex also offers a Forex platform. You can also trade event options here, such as whether or not the Federal Reserve will raise interest rates at their next meeting.
They offer a great assortment of technical analysis tools to their traders, which helps eliminate the need for a lot of extra analysis software on your end.
Trading on the Go
Nadex offers mobile trading. They have a platform available both on tablets and on smartphones, making the use of their platform ideal for busy individuals on the go. One of the few drawbacks to mobile trading is that some individuals find performing detailed analysis difficult to do on their mobile devices.
Customer Support is a Nice Feature
Every new trader is entitled to two months of free assistance with a binary options trading specialist. Their customer service department is also equipped to answer any questions you might have about the platform, banking, or any other aspect of the site. They can be contacted during business hours at 1 (866) 296-0167, or by email at email@example.com.
It’s hard to find a weakness in Nadex’s trading platform or client services. They have the most reputable and trustworthy binary option provider you will find. They are fully regulated by one of the strictest financial watchdogs in the world, and they are optimal for U.S. based traders. However, if you are used to the European style binary option model, you might have a few difficulties transitioning to Nadex. Here, the options offered are based on real exchanges, and strike prices will vary based upon market pressure. For those used to the European model, this can take some getting used to. In the big picture, this is a very small issue, and it’s one that you will easy compensate for if it might apply to you. Using their demo account trading platform will help you to get a better feel for the differences between Nadex and some of the other brokers that you might have used in the past.
They also do not have the same sheer volume of assets available for trade that some of the European brokers have. However, most traders will never find this to be an inconvenience.
If you’re based out of the U.S., Nadex is the way to go. They are one of the only fully regulated and 100 percent legal binary options exchanges for U.S. traders to use. They have a strong and safe platform, and they have a low cost of entry.
Don’t forget that binary options trading is risky at all times. As a trader, your job is to try to alleviate some of that risk by making educated decisions and use the right tools. Using a safe broker/exchange is one of the easier choices that you can make when it comes to these choices, and although there will still be risk and a chance for you to lose your money no matter where you trade, U.S. traders are making the right choice when they go with a secure and fully regulated company like Nadex.US Traders Should Start Using Nadex by Clicking Here