Our Review of Nadex
Founded in 2004, Nadex is an online broker based in the USA. Nadex used to be known as HedgeStreet.
Account Types + Opening
There is one type of account with Nadex and it is free to open. If you want to see how the platform works before you commit yourself to signing up, then there is the possibility of opening a Demo Account.
Promotions, Sign Up + Deposit Bonuses
Nadex does not offer traditional cash bonuses. The perks offered by Nadex come in the form of free trading days and fee holidays. The free trading days are activated with your first deposit, and they also need to be activated within a certain amount of time before they expire.
Commissions and Fees
Small commissions (under $1) are taken for all trades, and a feel of around $1 will also be taken if a trade is allowed to expire. Commissions of around $9 will be taken for successful trades, but these commissions are also capped on a monthly basis. Fees will be paid on deposits and withdrawals and the exact size of the fee will depend on the payment method used.
Trading Platform Review & Mobile Apps
Nadex has a plain and basic feel to its trading platform. It is easy to find which part of the site you want to use, but the site itself does not feel sleek, packed with information or distinctive in the way that other binary options trading sites are. Nadex has yet to create an app for smartphones, however, the site does load sufficiently well on a handheld device such as a mobile phone.
Deposits & Withdrawal Methods + Ease
Deposits and withdrawals can be done in three ways: debit or credit card payments, bank transfers and paper cheques. The speed of the withdrawal will depend on the payment method; Nadex is not a super fast online broker when it comes to processing these transactions but there are not usually significant delays. Fees are associated with withdrawals. Unfortunately, Nadex will return any deposits or withdrawals to or from savings accounts and will charge an extra fee for doing so.
Regulators & Safety: Are they a reliable, legitimate broker or a scam?
Commodity Futures Trading Commission is the company that regulates NadEx. This broker is generally well regarded and is not known to be a scam.
Nadex 2-3 .review