Binary Options – Nadex Review
Binary Options – Nadex Review 5.00 / 5 (100.00%) 1 vote
In this era where the popularity of binary options has shot through the roof, it can be increasingly difficult to choose a reliable broker from the ever-growing pool of brokers. It is in the light of these grievances that we usually compile unbiased broker reviews to help you make an informed decision. Today, we are going to review Nadex.
Nadex is a Chicago-based binary options and Forex broker who offers derivatives designed for the retail trader. From the several years they have been in existence, they have definitely raised the bar high in options trading owing to their cutting-edge trading technologies. They are also regulated by CTFC which means that U. S. citizens can legally trade with this broker.
Trading Platform
Nadex is home to several trading platforms. Online trading is achieved on a Nadex trading platform. This platform is 100% online and hence requires no extra download. Also, it is well organized hence easily accessible and easy for new traders to navigate. They also have a downloadable intuitive Nadex pro trading platform. This platform is flexible, in that, traders can trade forex and binary options on the same platform. To facilitate trading on the go, they have a mobile trading platform compatible with iOS and Android operating systems. The mobile platform functions the same way as the online platform.
Nadex offers a wide range of assets to trade which are well distributed over currencies, commodities, stocks and indices. The assets can be traded with flexible expiry durations. The expiry durations available include intraday (starting and expiring on the same day), daily, weekly, and event-based expiries. Trading options on the Nadex trading platforms is also profitable and trades can attract payouts as high as 75%.
Unique Features
Demo account - Nadex offers demo trading at zero fees. The demo account is especially helpful to entry-level traders. Also, advanced traders can still use the demo account to test strategies and trading plans and in the process, acquire more trading skills. However, to access a demo account, a trader must register with nadex and deposit a minimum of $100 in their real trading account.
Bull Spreads - Another unique feature is the bull spread trading. This feature is especially helpful to forex traders as they can know the potential losses and profits from the outset. Since bull spreads are short term contracts, they can be very useful for hedge traders. Nadex offers bulls spreads for stock indices, forex and commodities.
U. S. Traders - Unlike most other brokers who don’t allow participation of U. S. traders, Nadex accepts US traders. Actually, it is currently the only legal broker in the U. S. today.
Customer Support
Nadex is home to unparalleled customer support. The customer support is available from Sunday all through to Friday. However, customer support is not available during U. S. holidays. The customer support can be contacted by either using the provided toll-free telephone number or via direct mail.
The only shortcoming of this broker is that the customer support and the website are available in English only.
Since their inception in mid 2010, Nadex has maintained their high quality of service delivery. It will be correct to say that they have revolutionized options trading and have indeed raised the bar high. The fact that they are the only legal broker in the U. S. speaks volumes of their commitment to binary options trading. This broker is highly recommended.