Nadex USA Review & Rating 2023

Is Nadex Scam Or Legit?

Coming soon on Our Review for Nadex
Sign up with one of's Top3 alternatives:

Since 2004, Nadex has been operating out of its headquarters in Chicago. The North American Derivatives Exchange (Nadex) specializes in the trading of binaries, cryptocurrencies, forex markets, commodities stock index spreads and macroeconomic events. The broker operates as part of the IG Group which is a UK-based company listed on the London Stock Exchange. Nadex is solely available to US customers as it is regulated by the Commodity Futures Trading Commission; only residents may open a Nadex USA account.

Nadex offers the ability to trade multiple markets and access to a series of short-term trading opportunities. All member funds are held within segregated accounts in major US banks. Carry on reading to find out more about this online forex broker and options exchange in our Nadex review.

Advantages and Disadvantages

The following Nadex review has noted several fantastic advantages that are on offer via the Nadex open account options. Unfortunately, there were also a few disadvantages discovered.

Pros & Cons of Nadex
  • Free demo account available
  • Minimum initial deposit of $250
  • Great selection of educational content
  • Wide offer of binary options and stock index spreads
  • No promotional offers
  • No mobile app
Year of Founding-
Available Languages-
Customer Support
CFTC - Commodity Futures Trading Commission
Verified by-
Payment Methods
Show More

New Customer Offers

Online brokerages and exchanges usually offer new customers a promotion or bonus in hopes of enticing a wider audience to sign up for their services. These usually come in the form of a referral reward, commission rebate, deposit bonus, etc.

At the time of writing, there was no such offer to be found with Nadex. While many brokerages and exchanges tend to offer such promotions, it seems Nadex has taken a more conservative approach by simply highlighting their services to new customers. NinjaTrader offers new customers the chance to claim a welcome offer upon signing up. The free demo account to test their trading platform does offer $25 000 in practice funds but there is certainly no other reward, other than knowledge gained, from using the service.

Unfortunately, this will prove costly in the Nadex review as a lack of a promotion is simply a missed opportunity for any customer looking to sign up with the exchange. If you are looking for an online brokerage firm that offers a welcome bonus, we suggest taking a look at EagleFX opinions page.

Usability of the Website

While Nadex USA may have fallen short in the new customer bonus and promotion section, they have certainly compensated with a tremendous trading platform. As is usual with our, the team have delved into the official website and returned with a verdict on three counts.


Nadex has taken the approach of less is more with their website and trading platform design. The simple layout results in a clean look with intuitive controls. This makes it easy for customers with any technical background to customize charts and sort through indicators.


Since the approach results in a single webpage desktop experience, not much can be said regarding the design of the website. It is functional and basic, however, that may result in users viewing it as amateurish or foreign. The design is clean, making it very easy to navigate for new users.


Once again, as a result of their simplistic approach, Nadex USA has provided a trading platform that performs. With minimal additional content, the site responds quickly and load times are short. This is crucial for any user as waiting times can result in potential losses.


While many brokerages and exchanges will offer additional software to their users, our Nadex review has found that they maintained their basic approach. The trading platform runs on both mobile devices and computers as long as you have a browser and an active internet connection. There is no additional cost to use the trading platform, you simply need to have an account.

With the banning of binary option trading apps for both iOS and Android devices, Nadex was forced to develop a progressive web app which allows users to make use of their services without downloading and installing anything. The progressive web app offers all of Nadex’s tools and services and operates perfectly on both mobile devices and computers. If any customer wishes to test out the platform, they are free to do so by making use of Nadex’s demo account option.

The platform mimics the website design by maintaining a clean and basic look. It is easily navigable and allows users to complete transactions with ease.

Looking to check out alternative trading accounts? We’ve done the legwork for you. Check out the popular Merrill Edge review and our M1 Finance review for the full picture.

Trading Platforms

While many brokerages and exchanges will offer additional software to their users, our Nadex review has found that they maintained their basic approach. The trading platform runs on both mobile devices and computers as long as you have a browser and an active internet connection. There is no additional cost to use the trading platform, you simply need to have an account.

With the banning of binary option trading apps for both iOS and Android devices, Nadex was forced to develop a progressive web app which allows users to make use of their services without downloading and installing anything. The progressive web app offers all of Nadex’s tools and services and operates perfectly on both mobile devices and computers. If any customer wishes to test out the platform, they are free to do so by making use of Nadex’s demo account option.

The platform mimics the website design by maintaining a clean and basic look. It is easily navigable and allows users to complete transactions with ease.


Another vital aspect of our Nadex review is the payments section. Here we will take a look at exactly what payment methods are offered for deposits and withdrawals. To better understand what payment methods are supported throughout the industry; head to our Gain Capital opinions page.

Once you have your Nadex open account, you will then find it necessary to deposit funds into the account to begin trading. Our Nadex USA review found that a relatively low minimum initial deposit of $250 was required. This may seem to be a relatively large sum, however, $250 would be approximately half the industry standard. Once this deposit is made, you will be able to trade a variety of markets immediately. This is ideal for beginners who are not looking to invest an enormous amount with their first brokerage or exchange. Another bonus for beginner traders would be the capped risk associated with binary options; no user will be able to risk more money than what they have available in their account, thus limiting potential losses.

To deposit with Nadex USA, you will need to make use of one of the supported payment methods. This includes debit card payments, wire transfers, ACH transfers and paper checks. Credit cards are not an accepted deposit method and bank verifications will be necessary for transactions. Withdrawals can be completed with the same payment methods.

A $25 fee will be charged if a trader makes use of a wire transfer withdrawal. There is no fee for deposits and the rest of the withdrawal methods. Our Nadex review found the fee structure to also make the most of a basic approach. A fixed amount of $1 per contract will be charged, up to a maximum of $50. Thereafter, the fee remains $50 for any trade in excess of this amount.

Withdrawals and deposits are processed at different speeds, a wire transfer should be processed the same day and an ACH transfer is usually completed within 3 to 5 business days. Debit card payments and checks depend on bank processing times and traders are encouraged to visit Nadex’s FAQ page to find more information regarding their specific payment method.

Customer Service

A brokerage/exchange can only be as good as the support they provide to their users. Once you have completed the process of signing up for a Nadex open account, you may require assistance or simply wish for more information regarding a specific feature. Our Nadex review found their customer service department to be efficient and informative. All users and even potential users can make use of their live chat feature available on the website. There is also a support telephone line available Sunday 6:00 p.m. to Friday 4:15 p.m. ET. If you prefer a more traditional method of contact, their address is listed below for any mail. Finally, a customer support email address is also available at any time. Response times may vary according to time of contact and method.

Support is provided directly from Nadex, however, the only support available was in English. No additional costs are associated with any of the contact methods, usual call rates will apply when contacting via phone. Just like the Nadex open account options, no specific VIP customer service option is mentioned anywhere on the site. Nadex USA also offers support through the majority of social media services, this includes LinkedIn, Twitter, Facebook, Instagram and even YouTube. Overall, it would appear that the clientele of the brokers site are pleased with customer service, as the Nadex opinions and reviews would suggest.

Contact information

For those seeking to make contact, the various contact method specifics are all listed below.

  •   Live-chat:
  •   Address: North American Derivatives Exchange, Inc., 200 West Jackson Blvd., Suite 1400, Chicago, IL 60606
  •   email:

To get an idea of how other brokerages and exchanges performed in the customer service section, head to our IG Broker USA review.

Regulation & Deposit Protection

All brokerages and exchanges need to have some form of certification to ensure their client’s safety when it comes to simple financial security and data protection. In the US, the Commodity Futures Trading Commission serves as an independent agency tasked to enforce regulations and bring about transparency to the market. Our Nadex review found the CFTC acts as the Designated Contract Market and Derivatives Clearing Organization. Once you have signed up for a Nadex open account and deposited your initial funds, you may rest easy knowing that all Nadex’s funds are held in segregated bank accounts with BMO Harris and Fifth Third.

It is also very evident when browsing through the Nadex USA website that they pride themselves on the transparency surrounding their products, fees, markets and trading platform. The Nadex group also expressly states that intelligent encryption technologies are used to safeguard the data security on their website. Nadex itself may not be listed on the stock exchange but they form part of the IG Group which is listed on the London Stock Exchange.

All transactions made with Nadex USA are subject to bank verification, this includes validating the age of customers to ensure that minors are protected.

Additional Offers

While the website and trading platform have taken a simplistic, efficient approach, Nadex USA has clearly made an effort to go above and beyond the standard limits of services provided by other brokerages and exchanges in the industry. The demo account offers potential users full access to their trading platform at no cost. While they do not offer a promotion or bonus to new users, the wide range of global markets should be incentive enough to any rookie trader looking to start their career.

The enormous library of educational resources on offer is also above par with a large host of the most important topics covered. These articles and videos cover the entire spectrum of what Nadex USA does best, binary options, knock-outs and call spread contracts. Our Nadex review also determined the training to be of an advanced level of knowledge, so there is even some content for the more seasoned traders out there. Since Nadex operates as an exchange as opposed to a brokerage, customers are able to utilize free streaming data directly from the exchange.

When using the platform, users will also notice that they can place orders directly from the chart, something that is unusual for a trading platform. This characterizes how the minimalistic and basic approach has paid off for and strengthened Nadex opinions. Finally, with the Nadex open account, you will be subject to receive a known profit or undertake a known loss. This is due to how binary options trading works, making it less of a risk to have both a floor and a ceiling on your trades.

Nadex Forex

Introduction to Forex Trading

In simple terms, forex trading is the buying of one currency and the selling of another. This is what is called a foreign exchange spot transaction. For example, if you decide to buy USD/EUR this means that you are buying dollars while essentially funding the trade with euros. If you decide to sell USD/EUR, then you are effectively selling USD while backing the trade with EUR. This means that you think the USD will decrease compared to the EUR.

The great thing about trading forex with the binary option tools on the Nadex site, is that you will know exactly what your risk is. The binary options offer you a fixed risk which means you can see exactly what your profit and your loss will be before you even execute the trade. This means that with enough research and time invested, you will be able to find great value for money and even better risk vs rewards scenarios on the foreign exchange markets.

As it stands there are currently 11 different currency pairs you can trade with on Nadex:

  • EUR/USD – Euro-US Dollar
  • AUD/USD – Australian Dollar-US Dollar
  • USD/JPY – US Dollar-Japanese Yen
  • GBP/USD – British Pound-US Dollar
  • USD/CHF – US Dollar-Swiss Franc
  • Eur/GBP – Euro-British Pound
  • USD/CAD – US Dollar-Canadian Dollar
  • AUD/JPY – Australian Dollar-Japanese Yen
  • GBP/JPY – British Pound-Japanese Yen
  • EUR/JPY – Euro-Japanese Yen
  • USD/MXN – US Dollar-Mexican Peso

Forex Pricing

The forex pricing on the Nadex site differs somewhat to other online brokerage firms. This is because you are trading foreign currency with the binary options trading tool. This means that the pricing looks a little different from other firms. Nadex will charge you a commission fee based on certain criteria when it comes to trading in forex. If you want to enter or exit a contract, you will need to pay a $1 fee per contract. Should your contract expire while you are still in-the-money, you will need to pay a $1 settlement fee. If you are out-of-the-money, you won’t need to pay any fee.

Aside from the settlement fees you may need to pay-per-contract, it is worth mentioning that the tick size on binary options for forex is valued at $0,25. If you are using call spread contracts, the tick value is a flat $1.

Product Summary & Conclusion

Our Nadex review USA has come to find that the broker offers a number of different currency pairs for forex trading. We were pleasantly surprised by the options we had available to choose from on the broker’s site. Furthermore, the pricing in terms of the forex contracts appear to be more than fair in relation to some of Nadex’s competitors.

Overall, we found that the use of the binary options trading instrument made the forex trading experience that much better with Nadex.

Nadex Options

Introduction to Options Trading

Although Nadex brings you an options trading product, the entire concept is different to that on traditional trading sites. Nadex offers binary options trading. This means that all traders need to do is to predict yes or no. Thus, the name ‘binary’ options. This allows traders to access markets very easily. Keep in mind that with binary option contracts, the risk is clear and outcome defined.

At the end of the day, you either make the predefined profit or lose what you put up in the first place. An introduction to binary options trading may seem like it’s a simple process. The actual act of engaging in binary options trading is. However, it is still vital that you understand the current market climate. Without prior knowledge, you’ll be guessing on an option with a 50/50 chance. But, it is also prudent to keep in mind that much of binary options trading is based on speculation.

Binary options are still financial instruments in their own right. All that changes is the process whereby you trade. Nadex USA offers four markets where you can speculate on these binary contracts:

  • Stock indices
  • Forex
  • Commodities
  • Events

There are multiple exchanges where you can trade binary contracts, namely:

  • CME
  • CBOT

Options Pricing

There are a couple of different things to keep in mind when it comes to the pricing of binary options at Nadex. The first cost of trading binary options on the site will depend on the entry and exit of contracts. This means, you will need to pay a $1 trading fee per contract upon entry or exit of any contract.

The only other notable pricing and fees to mention is based on the expiration of your contract. If your trade expires out-of-the-money, then you will not be expected to pay any kind of settlement fee on the contract in question. However, if you trade expires while you are still in-the-money, then you will need to pay a $1 settlement fee per contract you are invested in.

Aside from the settlement and trading fees, there is nothing else in the way of payments for binary options on the site. The value of each contract may vary so there is no fixed pricing in that regard but Nadex have made the costs abundantly clear on the site. The transparency in this regard was refreshing, as there are times where a broker may otherwise put this type of information in the finest of print.

Product Summary & Conclusion

Our Nadex review USA found that the broker offers more than enough in the way of binary options on the site. The selection of markets are excellent and give users on the site more than enough to choose from. Furthermore, the pricing on expired contracts we found to be fair. Overall, if you are a trader who specializes in options trading or if you are a new trader looking to start somewhere then Nadex is probably the broker for you. It offers the perfect trading platform for new and experienced day traders alike.

Overall Conclusion

At first glance, it may seem as if Nadex offers a simplified trading experience. This might correlate to attracting newcomers only. However, upon further inspection, it is clear that Nadex is much more than a simplified online broker. They provide several trading products and cover a range of US exchanges. This provides traders with large exposure to the domestic scene. What’s more, is the fact these trading products on offer do not necessarily appeal to novice traders. Thus, the platform is also geared toward those with industry experience.

In terms of fundamental online facets of operation, Nadex delivers on its promise to look after customers. The customer service department is efficient and rather effective. The wide selection of educational tools is a big plus. The best online brokers invest heavily in providing informative resources for the convenience of their clientele. Furthermore, Nadex USA also brings customers low-cost services. All in all, Nadex is an online broker on the rise. With a demo account to boot and fast trading capabilities, we recommend you take a look at this online broker. Or at very least, keep an eye out for future developments. If you are perhaps looking for a broker with a different kind of offering, we recommend taking a look at our TD Ameritrade broker review.

Nadex Review FAQ

📂 Does Nadex USA provide a demo account?

The best online brokers provide traders with the option of using a demo account on arrival. Demo accounts are put in place for traders to get a feel for the actual trading platform. What’s more, is that demo accounts facilitate learning when it comes to novice traders. Thus, our reviews will highlight whether or not there are demo accounts on offer from each respective provider.

❓ Is Nadex a regulated broker?

In the world of online brokers, not all digital companies are regulated. It is advisable to use a broker that is regulated. This ensures that they are subjected to regulatory oversight and act in good faith. However, there are popular online brokerage firms that are not regulated but still enjoy a loyal following. Take a look at our reviews on to find out more about which online brokers are regulated.

💵What are the Nadex commission rates?

Most online brokers will charge a commission rate on trades. This is standard practice across the board. To find out about the relevant commission rate on the Nadex platform, take a look at our latest coverage of the online broker. Keep in mind that there are also additional costs – levied by the NFA and which arise from routing and exchange fees.


User Reviews for Nadex

No review posted yet.

Post your own Review

Move to Top
Our Top Alternative to Nadex:
Our Top alternatives:
Your Bonus Code:
The bonus offer of Nadex was already opened in an additional window. If not, you can open it also by clicking the following link:
Visit Site