Nadex Scam Review
We have made a research of Nadex and found out that they do not rate highly and there is no significant data about them. As an alternative we have selected our Top Safe Binary Brokers along with detailed reviews for safe and secure trading.
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Our team of experts took a careful look at all the services offered by NADEX. After testing their deposit and withdrawal procedures, the trading platform and after reviewing feedback from traders, we made a detailed review of the company. You can read the full NADEX review below.
Is NADEX a Scam?
NADEX is a binary options exchange, a subsidiary of the UK derivatives trading company IG Group. It is registered as a Designated Contract Market and a Derivatives Clearing Organization with the Commodity Futures Trading Commission (CFTC), which makes it a subject to the regulatory oversight of the CFTC.
NADEX works in compliance with all the laws and regulations applicable to such financial operations. These regulatory principles include full transparency on every trade, keeping members’ funds in segregated accounts and providing a level of protection that off-shore binary options providers cannot give. The NADEX platform is designed primarily for retail traders. On the NADEX website traders can also find an educational library featuring trading handbooks, webinars and training videos.
The NADEX trading platform is entirely browser-based, which means that it doesn’t require the download or installation of any additional software. Traders can choose from over 2,400 contracts daily in the asset classes of stocks, commodities currencies and indices. After selecting a market the trader is interested in, they can proceed to choosing an asset.
Next comes selecting a strike price and hourly, daily or weekly expiration, which means that you can pick the exact price and time you would like to make a prediction for. Then traders have to select a direction − Buy if they think the price will rise, or Sell if they think the price will fall. When this step is completed, traders get a clear indication what their maximum profit and maximum loss could be. The NADEX platform provides the feature Early closure, which means that traders have the choice to wait out for the option to expire or to close the position before expiry time.
The NADEX trading platform has a wide range of features but in order to avoid cluttering the interface traders can customize the layout and select to view only the tools they want to use. The platform also provides real-time charts with asset price movements, which can be annotated. The streaming data comes directly from the exchange without any delays. Trading with NADEX can also be done on the go via the free mobile app available on the App Store and Google Play.
Account Types and Bonuses
NADEX has one unified type of account for all categories of traders. However, you can test the trading platform by signing up for a Free Demo Account with $25 000 of virtual cash in order to try out the various tools and features and to get familiar with the trading process. NADEX also offers bonuses for first initial deposits in the form of Free Trading Days. Depending on the amount of the deposit traders can get up to 15 free trading days, which means that during that time they will not be charged any exchange fees.
How to Get Started?
- Free Sign Up − Opening an account with NADEX is free of charge and traders can complete their registration in under 5 minutes.
- Trade & Profit − When you decide you are ready to trade you have to fund your account in order to be able to invest. Then you can proceed to opening positions and making profits.
- Withdrawal − The final step is to withdraw the earnings you have made from trading.
Deposit and Withdrawal Procedures
To start trading with NADEX you have to make a minimum deposit of $100. There are various options for funding your account and the payment methods available depend on your country of residence. Investorss can make deposits via debit card, bank transfer, wire transfer or paper check and can withdraw their profits by using ACH (Automated Clearing House network) or wire transfer. Non-US Residents can fund their accounts via debit card or wire transfer and use these two payment methods for making withdrawals as well. For more details regarding the deposit and withdrawal procedures it is recommended to visit the Funding/Withdrawing pace on the NADEX website.
NADEX offers 24 hour Customer Support, which can be contacted by phone, e-mail and mail. The NADEX office address is: North American Derivatives Exchange, Inc., 311 South Wacker Drive, Suite 2675, Chicago, IL 60606. Traders can call the toll free number 1 877 776 2339 and international clients can contact the support team at +1 312 884 0100. You can also send an e-mail at [email protected]
ConclusionAfter detailed investigation our team concluded that there are better choices than Nadex. We cannot confirm that this binary options broker is a scam, but our research revealed enough traders’ complaints to not make us feel safe trading with Nadex.
We recommend you to Proceed to Safety and avoid scams by choosing High-Rated and Trusted Brokers on Is-Scam.com.