A recent Bitcoin chart shows the asset’s price moves.
The Nadex web platform gives you window-style controls. You can open and resize multiple charts, lists, and other views on your screen so you can view everything important in one place.
While there is no native Android or iOS app, you can trade on a mobile version of the platform through your phone’s web browser on any operating system. This gives you maximum compatibility across all devices and screen sizes.
Costs and fees
“Nadex charges $1 per option per trade up to $50 per order. Options that expire in the money require an additional $1 settlement fee. There are no additional commissions or charges.”
One thing Nadex does very well is fees. The fees are simple, straightforward, and easy to understand. It isn’t the cheapest options trading platform around, but remember that there are no third-parties or brokers in the middle.
Contracts cost $1 per trade up to $50 per trade. There is no fee for contract 51 or higher in a single trade.
When your options expire, you pay a $1 per option “in the money” fee to cash out. Contracts that expire out of the money do not incur a settlement charge.
The only other costs most people will see are a $25 returned deposit fee and a $25 wire withdrawal fee. Those transaction fees are easily avoidable.
Some special accounts (FCM members and Market Makers) may have access to lower fees.
Bonus & Promotions
Nadex does not currently offer any new account bonus or promotion. All new accounts get the same standard terms.
“Nadex offers customer support by phone or email for just two hours per day, six days per week. Accounts are mostly self-service.”
Nadex is headquartered in Chicago and offers new account customer support by phone Monday-Thursday 7:00 am to 8:00 pm Eastern and 7:00 am to 4:15 pm on Friday by phone.
For general member support, you can get help via phone or email Sunday through Friday from 3:00 pm to 5:00 pm Eastern. While that gives you six days a week, support hours are very limited at just 2 hours per day.
Nadex typically gets average to slightly above average ratings on customer service. It gets above average reviews for the overall platform and user experience.
Research and Education
“Both new and experienced traders can learn a lot from Nadex resources. Nadex offers courses, articles, videos, webinars, and a demo account to learn more about how this type of trading works.”
If you are new to options trading, the value of a demo account can’t be understated. This is a useful resource that anyone can enjoy for free without a paid Nadex account.
Outside of the demo, Nadex offers a range of educational resources through the Learning Center section of the website. That includes the following free resources that anyone can access, even without an account.
- Binary Options
- Nadex Touch Brackets
- Nadex Call Spreads
- Nadex Trading Strategies
These multi-part courses can get you up-to-speed quickly on how the platform and trades work. This can be a good guide on whether or not options trading makes sense for you.
Additional resources include example trade articles and videos, weekly live webinars, videos, and ebooks. The site also contains a market news blog and glossary to better understand options trading terms.
If you are brand new to options trading, you should be able to learn enough from the free resources and demo platform to get started. Just don’t lose sight of the risks involved and don’t trade with more funds than you can afford to lose and you should be in good shape.
“Trading should be mostly limited to experienced and expert traders. However, beginners can learn enough to get started through the combination of educational resources and trying things out on the live demo platform.”
In general, options trading is something that should be reserved for experienced and expert traders only. However, everyone has to start somewhere. Among options trading platforms for beginners, Nadex is a good choice.
Because you can try the demo and trade risk-free, new options traders have a good place to get started and learn the ropes. The online and mobile platforms are easy enough for beginning traders to understand but powerful enough to run the account of someone with far more experience.
Because it is web-based only, you don’t need advanced computer skills to use the platforms and tools. As long as you have an updated and modern browser, you should be able to use Nadex without any need for technical support.
- Is Nadex regulated? – Yes, US-based accounts are regulated by the United States Commodity Futures Trading Commission.
- Where is Nadex based? – Nadex is based in Chicago, Illinois.
- When was Nadex founded? – 2004
- How does Nadex make money? – Nadex charges users fees for each trade placed on the platform.
- How do I deposit in Nadex account? – You can deposit most easily via debit card or ACH. Nadex also accepts bank wire transfers and paper checks.
- How do I withdraw money from Nadex? – You can withdraw via debit card, ACH, or wire transfer.
- How do I open an account with Nadex? – You can most easily open a new account online at the Nadex website. The process takes about five minutes if you have all required information handy. You can also open a new account by phone with the assistance of a Nadex Account Specialist.
- Does Nadex offer margin accounts? – No
- Are funds at Nadex secured or insured? – Cash in a Nadex account is held on deposit at two large FDIC insured banks. Funds are not comingled with Nadex operational funds. There is no additional account insurance.
“Nadex is an exchange and platform for trading expert options products such as binary options. The platform offers reasonable fees and good resources for new traders to learn the world of binary trading with a wide range of underlying assets.”
If you want to get started with binary options trading, Nadex is a good platform. It gives all traders an even playing field with its useful web-based trading platform. While it lacks a desktop and native mobile apps, it offers everything you need to dive in and explore binary options, touch brackets, and call spreads. If you place the right bet, you could walk away with big profits. Just be sure to understand the extensive risks before getting started.