Nadex USA Review & Rating 2023

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.

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 TradersBest.com, the team have delved into the official website and returned with a verdict on three counts.

Usability

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.

Design

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.

Performance

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.

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.

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: www.nadex.com/contact/
•   Address: North American Derivatives Exchange, Inc., 200 West Jackson Blvd., Suite 1400, Chicago, IL 60606
•   email: customerservice@nadex.com

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

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.

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.