Nadex Binary Option Broker
| Website Languages: | English |
|---|---|
| Established | Mid- 2012 |
| Account Options | |
| Broker Type: | Market Maker |
| Account Currencies: | USD |
| Minimum Deposit: | $100 |
| Majors Spread: | |
| Scalping: | No |
| Hedging: | No |
| Retirement Account: | No |
| Free Demo Account: | Yes |
| Options profitability: | See Broker Site |
| Option on Asset Types: | Forex,Indices,Stocks,Commodities |
| Touch Options: | No |
| Traders From USA: | Yes |
| Islamic Account: | No |
| Currency Pairs | EUR/USD, GBP/USD, USD/JPY, AUD/USD, USD/CAD, GBP/JPY and USD/CHF |
| Fees & Commissions | |
| Commissions: | |
| Binary Options: | $0.9-$0.25/Contract |
| Margin Interest: | No |
| Depositing Fees: | No |
| Withdrawal Fees: | Wire: $25 |
| Service Details | |
| Supported Languages: | English |
| Customer Service By: | Phone, Email |
| Customer Service Hours: | 24/5 |
| Email Response Time: | More than a week |
| Telephone Orders: | No |
| Personal Account Manager: | No |
| Trading Platform | |
| Trading Platforms | Nadex DMA Trading By IG |
| Stop Order: | No |
| Limit Order: | Yes |
| Market Order: | No |
| Trailing Stop Order: | No |
| OCO Orders: | No |
| One Click Trading: | No |
| Charting Package: | No |
| Trade off Charts: | No |
| Streaming News Feed: | Yes |
| Email Alerts: | No |
| Mobile Alerts: | No |
Nadex Binary Option broker was established in mid- 2012 and the company name stands for North American Derivatives Exchange. The company is based in Chicago USA and is regulated by Commodity Futures Trading Commission of CFTC, an agency that is authorized to look after the Futures and Options trading in United States. Nadex actually is parts of the company named IG Group which is founded at least 40 years ago and has headquarter in London. In other words Nadex is an exchange where the investors, mostly retail can trade simplified and capped risk derivatives contracts on a world over financial markets.
There are several benefits of trading through Nadex and it includes:
- They are based in America and is regulated by CFTC,
- The company holds customers fund in separate bank, BMO Harris Bank and Chase Bank of US,
- Each trade is done with complete transparency and
- No broker or intermediary is required to do the trading.
The trading platform that is offered by Naex binary to its customers is a in house trading platform which is a proprietary of IG group, called as Nadex DMA Trading. The trading platform is completely web based and does not require any downloading or installation. The traders can start trading immediately after registering with the site. The platform is loaded with several features like Limit Order and Streaming news feed. This trading platform allows traders to use Direct Market Access feature which allows them to trade directly using the Nadex Exchange. They offer about 21 assets to trade in which has been diversified into stocks, forex, indices and commodities. The number of assets is less but looking at it being a regulated company, this number can be considered large. They offer a range of expiry times which include hourly, daily, weekly and intraday.
Opening an account with Nadex is very easy and the minimum deposit required to open an account with them is $100. They do have a free demo account which the traders can use to understand the trading platform better. This account provides trading condition that is similar to the real trading platform. The trader can also device their trading strategies here. The company does levy some commission on the binary option trading that is done. They levy a commission of $0.9 to $ 0.25 per contract. They do not have any deposit fees and margin fees. However, they do have withdrawal fees of $25 for wire transfers.
The customer support service provided by Nadex to its customers is excellent but the service is only available in English. The customer service is provided via phone and email. They do not provide live chat services. The email response time is more than a week and hence they should work on this. The customer service is available 24 hours for 5 days in a week. They do not accept orders through telephone and also do not offer personal account managers.