Nadex, which stands for North American Derivatives Exchange, is a binary options exchange founded in the middle of 2010. The address listed in the company’s open website shows that they are based in Chicago, USA. They have 100% web-based platform.
Trading is easy with no software that needs to be downloaded. After logging in as a Nadex member, you can directly place your orders into the exchange. With streaming data, all real-time data is automatically updated and there’s no need to refresh. It’s a regulated and transparent market where you can trade stock indices, forex, commodities and economic events with almost no risk.
Nadex Review: User-Friendly
Top technology allows direct trade into the order book of Nadex. Viewing real-time prices, placing orders, review trading history and managing personal account is all supported.
Despite providing a lot of information, the website is not very user-friendly. However, being 100% web-based, it offers a simple trading experience.
The platform of Nadex binary options is more suitable for experienced traders of binary options than for beginners.
Nadex Review: Assets & Expiry Times
The average number of assets you can trade with Nadex is 21 stock forex and commodities. Considering that you are trading on a regulated market, this number is very large. However, the number of trading asset are much lower than StockPair or Beeoptions.
Nadex has a range of expiry times as follows: weekly, daily and hourly/intraday. As it is regulated by CFTC, this makes it a favorable option.
Commissions, Customer Service & Return Rates
Trading binary options with Nadex require you to pay some kinds of fee. For each contract filled you have to pay $1, and for each trade/order the maximum fee is $7. Each settled binary option contract costs $1 and there are also withdrawal fees, or to be specific, returned cheques and wire transfer require a $25 fee. The many fees are the reason why only the most advanced binary options traders decide to trade with Nadex.
With Nadex, you can expect top quality customer service via email, fax, and phone or call back. Every time a trader wishes to contact Nadex for any problems; they can get in touch with the customer service team and have their question or query handled individually. Nadex’s trading session starts from 6:00pm ET Sunday to 4:15pm ET Friday, excluding the end-of-day processing hours that take place from 5:00-6:00pm ET, Monday through Thursday. During all regular trading hours except most U.S holidays when the exchange is closed, Customer Service is always available.
The average return rate for the binary options is up to 75% in case your trade wins; however, if your trade loses there is no return.
Nadex Review: Deposit Options, Languages & Bonuses
You can deposit via electronic cheque, ACH or wire transfer.
The only language used by Nadex is English.
The site mentions no bonus offers.
Nadex Additional Features
The many additional features offered on the Nadex website is among its best characteristics. These include the Notices, Rules, Hours & Holidays, Fees, Daily Bulletin and Results tabs. These tabs are located at the bottom of the homepage and are wonderful tools for Nadex traders.
For example, you can look up How to Trade Binary Options, explanations of Binary Contracts, Gold Binary Contracts and Forex Binary Options under the Binary Options tab. And you will find just many more additional features on the Nadex website.
There is also a $25K demo that you can sign up for, which is great for getting into binary options and trading with Nadex. You can change the layouts of the binary options trading platform to your liking and save them so the next time you log in, the last saved layout will be used. Top-grade real time charts are available with which you can monitor your trades.
And many other features are currently offered on Nadex’s website.
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