Nadex Review 2024
Minimum
deposit:
  • $250

Trading platform:

  • Nadex

Nadex Review 2024

Updated:
Updated: March 12, 2024

5.24

/

10

TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Minimum
deposit:
  • $250

Trading platform:

  • Nadex
Trading features:
  • There is options trading on events

Summary of Nadex Trading Company

Nadex is a moderate-risk broker with the TU Overall Score of 5.24 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Nadex clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews. Nadex ranks 15 among 21 companies featured in the TU Ranking, which is based on the evaluation of 100+ criteria and a test on how to open an account.

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

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.

💰 Account currency: USD
🚀 Minimum deposit: $250
🔧 Instruments: Currencies, assets of stock and commodity markets

👍 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.

Evaluation of the most influential parameters of Nadex

User Satisfaction Customer Satisfaction Score (CSAT) is a unique metric of Traders Union based on the analysis of user reviews posted on pages of each broker profile by the visitors of our website from all around the world. We have been collecting these broker reviews for over 13 years, and therefore, we know and understand the level of customer satisfaction with a specific brokerage company better than anyone else.

5.11

/10

Regulation and safety The score for this parameter is based on the licenses a company holds. The higher the level of the license, the higher the score. Obtaining licenses in other jurisdictions also improves a broker’s score. We divide all licenses into three levels:

Level 1 jurisdictions (high level of trust): CFTC – USA, FINMA – Switzerland, FCA — UK, ASIC – Australia, CBI – Ireland, JFSA — Japan, MAS – Singapore, FMA — New Zealand, IIROC – Canada, SFC – Hong Kong.

Level 2 jurisdictions (medium level of trust): CySEC – Cyprus, FSCA – South Africa, CBRC – China, SEBI – India, ISA – Israel, SECT – Thailand, DFSA – United Arab Emirates

Level 3 jurisdictions (low level of trust): FSC – Belize, FSC – British Virgin Islands, FSC – Mauritius, VFSC – Vanuatu, SCB – The Bahamas, BMA – Bermuda, CIMA – Cayman Islands

1.11

/10

Commissions and fees This parameter comprises a comprehensive analysis of all commissions and fees charged by a brokerage company, including trading and deposit/withdrawal fees. Also specific fees, for example the inactivity fee, are taken into account in the final score for the fees. Users can find detailed fees charged by a company in the broker’s profile.

8.84

/10

Trading instruments For this parameter, we evaluate the number of trading assets a broker offers access to in each group of financial instruments. We analyze the quotes a broker offers on Forex pairs, metals, indices, commodities, stocks, and cryptocurrencies. This parameter also includes evaluation of broker’s investment programs, for example access to copy trading, which we regard as an additional type of a trading instrument.

2.39

/10

Brand popularity Traders Union experts are confident that brand awareness mostly fully reflects the real state of affairs in a company – the more popular the broker, the more people trust it. The score for this indicator is based on the data analysis of such services as Ahrefs and SemRush, which show how often a company’s brand is searched on Google. In addition, indicators of the SimilarWeb service, which show the approximate number of visitors of the broker’s website, are also taken into consideration. We also review disclosed official reports of brokers, which allow for evaluating their client base.

5.32

/10

Customer support The score of this parameter is based on the number of available communication channels of a company’s support service. The quicker and easier it is to contact the broker’s support, the higher the score. We check every available support channel, test the speed of processing of requests and completeness of provided information through several interactions.

4.17

/10

Education This parameter provides an evaluation of a company’s capacity to work with beginners. Only quality training and provision of full and unbiased information can help novice traders and investors minimize the risks of losing money, even when working with top-ranked companies. Brokers with useful educational and informational tools, including webinars, tutorials, podcasts and articles, receive higher scores.

6.72

/10

Trade with this broker, if:

  • You prioritize a user-friendly platform with educational resources. Nadex offers a straightforward platform along with comprehensive educational resources, making it suitable for traders looking to enhance their knowledge of spread betting.
  • You understand spread betting and are comfortable with limited downside risk. Nadex utilizes spread betting, which restricts potential losses to your initial investment.

Do not trade with this broker, if:

  • You are a complete beginner in financial markets. Nadex primarily caters to experienced traders who are comfortable with complex financial instruments and market dynamics.
  • You reside outside the United States. Nadex is currently only available to residents of the United States. If you are located outside the United States, you will need to consider alternative brokers that cater to your region.

Geographic Distribution of Nadex Traders

Popularity in

94.6%
US
United States
0.2%
GB
United Kingdom
0.9%
IN
India
0.8%
IT
Italy
0.5%
CA
Canada
1%
Others
Others

Video Review of Nadex i

Nadex Latest Comments for 2023 i

16 comments
Total score:
6 /10

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cruzcarvosso4928672
2 years ago

Before trading with Nadex, I would recommend evaluating the pros and cons of a broker. Pros - it is under the regulation of the CFTC, client funds are stored in the bank, in segregated accounts, so you don’t have to worry about security. There are more than 2000 tools, if this is important to someone. Well, of course, the direct access to liquidity providers is captivating, which is rare for binary brokers. But! The deposit here is high, from 250 USD. Verification is possible, but difficult. And for each withdrawal you need to pay a fee of $25. Regardless of the amount. No bonuses, no affiliate program. In my opinion, the conditions at Nadex are more suitable for professional traders.

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tooba
3 years ago

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.

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ajaravis
3 years ago

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.

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wolf1
3 years ago

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.

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241906
3 years ago

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.

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Feboprimo
3 years ago

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.

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iris1992
3 years ago

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.

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.

Anton Kharitonov

Anton Kharitonov

Financial expert and analyst at Traders Union

Editor’s Warning:

People make more money working with Forex brokers, according to our research based on the trading experience of our readers. With your best interest in mind, we would like to recommend you to consider Forex brokers and choose one of the leaders of our rating . As of today, the best broker according to TU is:

Rinat Gismatullin
Author and business expert

Best Forex broker based on expert and trader reviews

Open account
Your capital is at risk.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Dynamics of Nadex’s popularity among
Traders Union’s traders, according to 2023 data

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 vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal 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.

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

💻 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 Pocket Option Binary.com QUOTEX Binomo DaxRobot
Trading
platform
Nadex MT5, Web, Mobile WebTrader, Mobile Mobile MT4, Web platform, Browser platform Browser platform Daxbase web platform
Min deposit $250 $50 $5 $10 $10 $250
Trading
instruments
Currencies, Assets of stock and commodity markets currency indexes, Forex, goods, stock, random index currency pairs / CFD, indices, Cryptocurrencies, Commodities indexes, stock, currency pairs / CFD, goods Binary options (fiat currencies and cryptocurrencies)
Signals No No No No Yes No
Analytical
support
No No Yes No Yes No
Training Yes No Yes No Yes No
Additional
tools
No Copy Trading tool premature closing No No No

Broker comparison table of trading instruments

Nadex Pocket Option Binary.com QUOTEX Binomo DaxRobot
Forex No Yes Yes Yes No Yes
Metalls No No Yes Yes No No
Crypto No Yes No Yes No Yes
CFD No No Yes Yes No Yes
Indexes No Yes No Yes No No
Stock No No No No No No
ETF No No No No No No
Options Yes Yes Yes Yes Yes Yes

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
Logo Nadex
$1
$2
$17

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.

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

Foundation date 1974
Registration address North American Derivatives Exchange Inc., 200 West Jackson Blvd, Suite 1400, Chicago, IL 60606
Official site

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.

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.
Nadex Review Nadex Review

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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.

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