Nadex Broker Review 2021

Nadex Broker Review 2021

Davis J.
Robertson A.
January 2021
Analysis of the Main Features of this Binary Broker

8.6

Overall rating

8.3

/10

Execution of orders

8.9

/10

Investment instruments

8.7

/10

Withdrawal speed

8.5

/10

Customer Support work

8.2

/10

Variety of instruments

9

/10

Trading platform

11

Position
in rating

Trading terminals:

Nadex
11

Position in rating

8.6/10
Overall rating

Trading terminals:

Nadex

Attention!

Due to the large number of negative reviews about this company and because it occupies the low position of number 20 on our Ratings List of Forex brokers, the Traders Union does not recommend cooperating with this broker.

Instead, our experts strongly advise you to select a brokerage from among the Top 5 on our objectively ranked list:

Summary of Nadex Trading Company

Nadex is a binary options broker working mostly with US and EU traders. The company was founded in 2009, officially registered in the State of Illinois, and regulated by US law. The broker's regulator is the CFTC (Commodity Futures Trading Commission). The main competitive advantage of Nadex is its completely transparent work, controlled by one of the most reputable regulators in the world. A distinctive feature of the broker is unique binary options products and direct access to the US exchanges.

Attention!

We work with accounts opened exclusively through the Traders Union website.

👍 Advantages of trading with Nadex:

  • regulation by CFTC;
  • binary options toolkit is easy to use.

👎 Disadvantages of Nadex:

  • the broker works through an intermediary from the EU;
  • commission for each trade is US$1;
  • limited range of offered products (3 types of options);
  • all information on the site is in English only;
  • complex verification procedure that meets the requirements of US legislation;
  • high entry threshold - $250;
  • there is a flat fee for withdrawing money - $25.

Overall

Nadex is a highly regulated transparent binary options broker, but so far almost inaccessible to CIS traders.

Visit Nadex

Nadex Latest Comments for 2021

0
0
15

Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of Nadex published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.

Nadex has been afloat for over 5 years, so I consider it a fairly reliable broker. They charge fees for withdrawing funds and opening each transaction. But it seems to me that if you want to trade through a serious company, you must be prepared for multiple fees. Each trader decides on his own what his priority is — whether it is reliability or favorable conditions — but at the same time risks are increased. I’ve always trusted brokers with licenses, so I’ve been trading with Nadex for a year now. Yes, I pay many commissions, but I regularly withdraw money and do not worry if it is safely kept in the account.

I have been trading professionally for 5 years, and it’s been the main source of my income. For this reason, I periodically test the conditions of different companies to be able to compare them and choose the best option for myself. I always check the service of brokers with a high minimum deposit on a demo account. It is necessary to assess the stability of the terminal and the speed of opening orders. Nadex is quite ok in this regard, only the mobile version of the trading platform sometimes freezes up. My conclusion after a month of working with a real account: you can make money here if you do not do binary options.

If you are new to binary options trading, I do not recommend choosing Nadex. First of all, there are no bonus programs here, so you will have to constantly use only your own funds for trading. When you consider the amount of all Nadex commissions, it immediately becomes clear that your expenses will be huge. Secondly, the broker sets a minimum entry deposit of $250. I think this figure is too high for a beginner, so I will look for another company for cooperation.

I consider Nadex to be a reliable company due to the license of the American CFTC regulator. Unfortunately, I do not speak English fluently, so the lack of a Spanish-language version of the site has become a real problem for me. Support specialists also respond only in English. But in principle, I like their trading conditions. Their proprietary terminal is quite convenient and functional: it contains charts, drawing tools, and technical indicators. You can work via a smartphone and a computer if that is more convenient for you. So far, the broker suits me well, but I have been trading with them for only 2 months.

I chose Nadex for trading upon the advice of a trader friend. At first, I worked with a demo account, because it was important to understand the functionality of the unusual terminal. Unfortunately, the platform does not have any analytical tools, and for this reason, in the beginning, it was not very convenient for me to trade on it. I needed analyses, so I had to use additional software. Otherwise, Nadex suits me quite well: the broker withdraws money without problems, but the payout percentage is quite high. I hope that soon the company will provide an opportunity to participate in an affiliate program with financial bonuses.

I have known about Nadex for a long time but only opened an account with Nadex two months ago. I cannot say their procedure is very fast, but I did not expect anything else, because they are regulated by CFTC. With Nadex I liked the fact that all the information about trading conditions is freely available on their website. For example, they provide information on the partner banks where the client’s funds are deposited, those are: Fifth Third Bank and BMO Harris Bank. Other brokers need to be asked for this kind of information, but most of them even after they were asked to keep the names of banks and liquidity providers secret. Nadex charges a commission for withdrawing funds but does not hide it, so each trader decides on his own whether to open an account here for trading or not.

Nadex gives the impression of a reliable broker. The list of countries the company accepts clients from is limited. Some of my compatriots work through European intermediaries, but I consider such trade not only unprofitable but also risky. Why would you pay 15-25% to an intermediary who can disappear along with your deposit at any time? The broker himself also charges a commission of $25 for each withdrawal of funds and a fixed fee of $1 for opening a transaction.

2 3 >

Video Review of Nadex

Expert Review of Nadex

Broker Nadex is one of the companies that inspires confidence from the first minute of acquaintance. Few brokers can boast CFTC regulation and segregated accounts at Fifth Third Bank. The strengths of the broker are direct access to quotes from liquidity providers, no limits on the number of trading orders within the day, the ability to open short, medium, and long-term positions. Another feature of the broker is the proprietary trading platform, which gives traders access to more than 2400 assets. The platform has an integrated risk control mechanism, which is an analog of stop orders.

Trading conditions are designed more for professional traders who are committed to long-term cooperation. The high minimum deposit ($250) and the withdrawal fee ($25 per request) discourage novice traders.

Nadex is a reliable broker that is responsible for fulfilling its obligations. That is why the company is among the partners and participants of the Traders Union Binary brokers rating service.

Antony Robertson

Traders Union
Financial Analyst

Analysis of the Main Features of this Binary Broker

8.6

Overall rating

8.3

/10

Execution of orders

8.9

/10

Investment instruments

8.7

/10

Withdrawal speed

8.5

/10

Customer Support work

8.2

/10

Variety of instruments

9

/10

Trading platform

Dynamics of the Popularity of Nadex
in 2020 among the Users of the Traders Union

Logo TU
20,0%
Top 3
10,0%
Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
Jan.
Feb.
Mar.
Apr.
May.
Jun.
Jul.
Aug.
Sep.
Oct.
Nov.
Dec.

Investment Programs, Available Markets and Products of the Broker

Nadex offers only binary options trading, investment programs are not provided by this broker.

Important!

If you are a large investor and plan on investments over $ 10,000, contact us at [email protected] by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.

Nadex affiliate program

Attracting customers by building an affiliate network is not allowed by this broker.

Rebate and Discount Programs of the Traders Union for Nadex

The rebate service from Traders Union provides a trader with an opportunity to reduce his trading costs significantly. To take advantage of the capabilities of this service, you need to register with the Traders Union. It's completely free. Then you need to open an account with a broker, trade with Nadex, and receive partial compensation for the spread. Such compensation is calculated regardless of whether you trade with a profit or not.

Try it!  You’ll like this!

Trading Conditions for Nadex Users

The trading conditions of the Nadex binary options broker are quite strict. The minimum deposit is $250, the minimum trade amount is $1. There is also a commission for withdrawing money, which is $25 for each request, regardless of the withdrawal amount.

$250

Minimum
deposit

24/5

Support

Nadex
Trading platform: Nadex
Account types: Demo, three types of accounts depending on the status (citizenship) of the trader
Account currency: USD
Replenishment / Withdrawal: Paper check, debit card, ACH (Bank transfer), Wire Transfer (Telegraphic transfer), International bank transfer (Wire)
Minimum deposit: $250
Min Order: $1
Instruments: Currencies, assets of stock and commodity markets
Mobile trading: Yes
Affiliate program: No
Trading features: There is options trading on events
Contests and bonuses: No

Comparison of Nadex with other Brokers

Nadex Binary.com IqOption ExpertOption Binomo Corsa Capital
Trading
platform
Nadex Webterminal IQ Option Digital-options private trading terminal WebTrader
Min deposit $250 $5 $10 $50 $10 $1
Trading
instruments
Currencies, Assets of stock and commodity markets indexes, Forex, goods, stock, random index Forex, goods, indexes, stock no indexes, stock, currency pairs / CFD, goods indexes, stock, Forex, tick options, futures binary options
Signals No No Yes No Yes No
Analytical
support
No Yes Yes No Yes Yes
Training Yes Yes Yes No Yes Yes
Additional
tools
No premature closing Return of the fixed percent from deal at the unsuccessful forecast No No Cancelling of an option prior to the beginning of its action

Broker comparison table of trading instruments

Nadex Binary.com IqOption ExpertOption Binomo Corsa Capital
Forex No Yes Yes No No Yes
Metalls No Yes Yes No No Yes
Crypto No No No No No No
CFD No Yes Yes No No Yes
indexes No No No No No No
Stock No No No No No No
ETF No No No No No No
Options Yes Yes Yes Yes Yes No

Nadex Commissions & Fees

Information

Experts at Traders Union have analyzed the trading conditions of Nadex for explicit and hidden commissions. Since the broker provides binary options trading services, there is no spread. The main commissions are a withdrawal commission ($25 regardless of the withdrawal amount) and a fixed commission for opening a trade, which is $1.

Account type Spread (minimum value) Withdrawal commission
Real $1 Yes

Also, analysts at Traders Union examined similar trading conditions of competitors, based on which broker was assigned an appropriate comparative level.

Broker Average commission Level
Nadex $1 Low
Binomo $2 Medium
IqOption $17 High
Nadex
$1
Binomo
$2
IqOption
$17
Conclusion

Nadex offers average commissions, which can be partially offset by rebates from Traders Union.

Detailed Review of Nadex

Broker Nadex is one of the few binary options brokers providing services in the United States. The availability of a CFTC license and segregated accounts in well-known banks guarantee traders the absence of non-trading risks. The broker has more than 2,400 assets in stock, commodity, and Foreign Exchange Markets.

A few figures about Nadex broker that may attract traders:

  • more than 5 ways to deposit and withdraw funds without the participation of electronic wallets;

  • three options are available with a risk-limiting mechanism;

  • over 10 years of experience in the US and EU markets.

Nadex offers US-regulated binary options

There are three options in the arsenal of the Nadex broker. Classic "higher / lower", where you only need to predict the level of quotes relative to the current price by the end of the option. The second type of option involves setting a price corridor (knock-outs). The trade is closed at a loss if the price touches the border. The third type of option is trading with predefined boundaries (call spreads).

Trading conditions can seem pretty tough. The minimum deposit is $250, the commission for each trade is $1, the commission for the early closing of the option is $1, and the commission for the withdrawal request is $25. Such a broker's policy speaks of his focus on working with large capital and professional traders who are ready to increase trading volumes. As a trading platform, traders are offered the proprietary Nadex terminal which also includes a mobile version. It is somewhat reminiscent of a simplified version of MetaTrader 4 with features such as one-click trading and technical analysis. However, the installation of technical indicators and advisors is not provided.

Nadex analytical services:

  • analytics (blog). The analytical section is where market reviews are published.

Advantages:

1

a large selection of trading assets, including non-standard instruments. For example, event options;

2

transparency and reliability of the broker.

There is a Demo account.

How to Start Making Profits — Guide for Traders

Broker Nadex offers three types of accounts, which differ in terms of registration, that is the status and citizenship of the trader are important.

Types of accounts:

Account Type
Description
Individual
individual account for US residents;
Individual
individual account for foreign traders;
Account for legal entities
account for legal entities that are residents of the United States

To learn the capabilities of the Nadex platform, a demo account is provided.

Bonuses Paid by the Broker

Bonus programs are not provided by this broker.

Bonus from Traders Union.

Thanks to the partnership between Nadex and Traders Union, each active client of the broker can reduce their commission costs when trading. To do this, you need to register and verify on the Traders Union website (it's free), then follow the affiliate link to the Nadex website, open an account and start trading. The rebate will accrue regardless of the results of the trades. Active traders can also receive rebate service from Traders Union. You can find out how to do this by following this link.

Investment Education Online

Information

As support for newcomers and professional traders, a separate section has been created on the Nadex website, which contains both the theory of binary options trading and analytical reviews of the markets.

Information available in the Analysis and Education section
Unavailable information at Nadex site
Glossary
Analysis of trading strategies
Blog: analytical reviews, technical analysis
 
Basic training: working with the platform, basics of technical and fundamental analysis, answers to basic trading questions
 
Webinars
 

Security (Protection for Investors)

Information

The Nadex broker is regulated by the US Commodity Futures Trading Commission (CFTC). Traders' money is also protected by account segregation, which separates clients’ money from the broker’s capital accounts. The depository banks where clients’ funds are kept safe are Fifth Third Bank and BMO Harris Bank.

👍 Advantages

  • Strict regulation, independent external audit
  • There is an integrated functionality on risk limitation
  • Account segregation

👎 Disadvantages

  • Complex and red-tape process of filing a complaint with the regulator

Withdrawal Options and Fees

  • Nadex guarantees the withdrawal of funds at the request of the trader without any restrictions on the amount of withdrawal or the number of orders.

  • There are several options for depositing and withdrawing money: Paper check, debit card, ACH (Bank transfer), Wire Transfer (Telegraphic transfer), International bank transfer (Wire).

  • Depositing money takes up to 1-2 business days.

  • Processing a withdrawal request takes up to 48 hours. Actual withdrawal takes up to 10 business days to finalize.

  • Only US dollars can be used for withdrawals and replenishments.

Customer Support Service

Information

The broker's support service is ready to answer customer questions 24/5.

👍 Advantages

  • Provides prompt answers to many questions

👎 Disadvantages

  • Does not work on weekends
  • Limited number of communication channels

There are two ways to contact support:

  • via online chat;

  • via email.

Contacts

Registration address North American Derivatives Exchange Inc., 200 West Jackson Blvd, Suite 1400, Chicago, IL 60606

Review of the Personal Cabinet of Nadex

Before opening an account with a Nadex broker, go through a free registration on the Traders Union rebate service website. This will allow you to receive a partial refund of commission charges on the balance of your personal account in the future.

1

On the broker's home page, find the option to open a main or demo account.

Nadex - Start trading
Nadex - Start trading
Nadex - Start trading
2

Go through authorization. For a demo account, it is enough to indicate the address and phone number. To open a real account, you need to go through 5 registration steps, providing supplemental details about yourself.

In your personal account on the Nadex website you will find:

3
1. Trading platform with technical analysis tools that allows you to choose the types of options, expiration dates, etc. Nadex - Trading platform
Nadex - Trading platform
2. Deposits and withdrawals.
1. Open a trading account and customize it to fit your needs. FXTM (Forex Time) Review - Account Types
FXTM (Forex Time) Review - Account Types

Other features of the Nadex Personal Account:

  • statistics of open and closed trades;

  • FXTM Invest. Opening a trading account which offers manager statistics and investment management;

  • access to daily analytics;

  • access to support services.

Tags:

Nadex

The Oldest Reviews of the Nadex

The reviews by customers of the Nadex indicate that it is a reliable brokerage company. Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of Nadex published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.

I have traded with Nadex for about three months. At first, everything went well: there was a profit, although there were failures. But after the first withdrawal of funds, everything changed dramatically. When I replenished the deposit for $1000, the terminal began to work with constant interruptions. It freezes up quite often, sometimes the screen just went black and the buttons did not respond. I wrote to technical support: they only advised me to use a more powerful computer. I had no such problems with the trading platforms of other brokers, so I decided to withdraw funds and change the company. The second conclusion lasted much longer than the first: I received the money only a week after the application was submitted. I left for another broker and I don’t regret it at all.

Nadex is one of the few trading platforms that provide services legally. This was the main reason why I chose this particular broker for cooperation. The site has a lot of educational materials, and there is an analytical section with reviews of various markets. I like the Nadex trading terminal: there is nothing superfluous there, so the interface is easy to use. The broker withdraws money, albeit for a long time. But the main thing in this business is not speed, but stability and reliability. If you are looking for an instant withdrawal broker, then Nadex is not for you.

Nadex has too few deposit and withdrawal options. Also, all transactions by any method take too long. Once I was waiting for money to come to a bank account for almost 10 days. The Nadex trading terminal works the way the broker wants. There is no question of any stable work here because the technical part of the broker is clearly incomplete. There is no affiliate program either, and Nadex does not suit me as a professional trader. I want to receive passive income for attracting new customers, but this is not possible with them. In general, I don’t like Nadex at all.

To trade binary options, Nadex is fine for me. It is a pity, of course, that the broker does not have any bonuses or other frills. There is only a unique terminal, but nowadays you won’t surprise anyone with that. I would like to get more trading tools, perhaps even access to investment offers. Nadex does not allow its clients to receive passive income. I consider this position of the company to be quite a significant omission because you have to work in parallel with other brokers. I have no issues with Nadex regarding the terms of its conditions – they are quite acceptable.

I started trading binary options quite recently and Nadex became my first broker. I have been looking for a suitable company for a long time: I read reviews on professional forums and broker feedbacks on various sites. Of course, at first, I traded with a demo, because the deposit on a real account is considerable, so I didn’t want to risk it. After a week of work, I fully mastered the NadexGO terminal. It has a rather primitive functionality, but at the beginning of trading, this is enough for me. I applied to withdraw funds 2 days ago. If the money is credited, I will continue to trade with Nadex.

I traded quite a bit with Nadex, and I didn’t like their conditions at all. Even with the first deposit, I was charged a commission, although the site states that it is 0% for depositing funds into an account. I started dealing with technical support: it turned out that the bank took almost $15 for the transfer. I decided to give the broker a second chance and started trading. However, this process is difficult to call “trade”. The NadexGO mobile terminal was constantly freezing up and had to be constantly restarted. I don’t know what the situation is with the desktop platform: I didn’t use it, because I use my smartphone. I have already found another broker because I have not received any profit here.

I have been trading with Nadex for only a few months, and so far, everything suits me well. There are many assets for trading like a mobile application. In my opinion, the main disadvantage of the broker is the inability to fund the account using electronic wallets. Sometimes you really need to instantly capitalize an account to open a truly profitable transaction. I can’t say anything about the withdrawal of funds, because I have not withdrawn funds yet. I hope that there will be no problems with this because the broker is regulated.

Author of this Review

Nadex broker’s review prepared by

John Davis

Traders Union Author and Analyst

John Davis is a Financial and Economic Analyst working with the Traders Union since 2016. During this time, he has written more than 100 analytical articles on technical and fundamental analysis, reviews of financial companies and has developed more than 10 proprietary trading systems. John's motto is to help everyone go from a novice to a professional trader.

All information posted on the Traders Union website is based on reliable and objective data. We have combined our 10 years’ experience in the financial sector and the feedback of our customers to provide you with a true picture of the best forex companies in the market. Detailed information about our methodology.

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FAQs

Do reviews by traders influence the Nadex rating?

Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about Nadex you need to go to the broker's profile.

How to leave a review about Nadex on the Traders Union website?

To leave a review about Nadex, register on the Traders Union website or you can also leave a review through Facebook.

Is it possible to leave a comment about Nadex on a non-Traders Union client?

Anyone can leave feedback about Nadex on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.

Why is it more profitable to work with Nadex through Traders Union?

Because you will receive additional payments from Traders Union every month while all other functions on your chosen trading platform remain the same.