After being established in 2010, the U.S. binary options outfit, Nadex (North American Derivatives Exchange), has managed to make its mark in the field and even bag an innovation award in 2015. Furthermore, besides having the authority to offer its services in the U.S., a territory that is off-limits to most binary brokers for its rigorous regulatory demands, Nadex has a lot of other benefits for its clients.
Without a doubt, the main upside of using Nadex for binary options trading is that it is one of a handful of companies authorized to offer these services in the U.S. Even so, the company also caters to international traders; and its service offerings are at par with what the best binary options brokers are offering. Below is a closer look at some of them.
Nadex has a polished trading platform, although it is more suited to people who have a handle on what this form of trading is all about. So, its a good thing the company also offers a demo account to give less experienced traders a risk-free head start.
The trading style for Nadex is also quite different to what most traders are used to. Luckily, when opening a trade, you will know what profit you will make if things go your way and what loss to expect if your predictions turn out to be wrong. You will also be able to play around with contract size and offer prices in order to achieve the desired risk-reward balance. If you are especially curious about the math behind the expected profit and loss figures, Nadex also goes into detail about it on its site.
Trade In Everything, Including Events
On Nadex, you can trade in stock indices, commodities and forex pairs. Nadex is also lets you open binary options contracts based on economic events. This rare form of trading lets you gain financially from Fed’s rate decisions, Jobless Claims announcements, and even the Nonfarm Payrolls reports.
Lots Of Trading Information
One of the areas Nadex truly excels at is with regard to trading information. When trading with this binary option broker, you will have at your disposal a great trading platform, notifications on hours and holidays, financial news, and a market commentary. This means you will have all the information you need to enter into trades without having to leave the site.
Signing Up With Nadex
There isn’t much to opening a trading account with Nadex. After filling in the prerequisite details and getting the account verified, all you will need is make a minimum deposit of just $250 and you can put your binary trading skills to work. You can also open a free demo account to get a feel of this form of trading, or as it is offered at Nadex if you have tried it in the past, before risking real money. Other than that, Nadex also offers demo trading as well as mobile trading in addition to the standard web-based trading.
Customer Support and Security
Nadex has a toll free number for clients who need to get in touch with the support team. The company’s support is also reachable by email or traditional mail. The support services offered are of top quality, but unfortunately, there is no chat; and the site is only available in English. However, for client security, all the clients’ funds are held in segregated accounts.
The binary options company has also gone beyond the basics as far as trader education is concerned. In addition to training videos, handbooks, and other trading information, Nadex regularly holds trading webinars. Nadex leaves nothing to chance: you will even get an example of a binary options trade and understand in detail what this form of trading involves so that you know precisely what you are getting into before you place your first trade.
Nadex is one of only two companies authorized by CFTC (Commodity Futures Trading Commission) to offer binary options trading in the U.S.. For this reason alone, Nadex is worth serious consideration by would-be traders, especially if you are a U.S. resident. Other than that, what Nadex is offering its traders is clearly in line with the highest industry standards. The platform is well-designed, the trading conditions highly accommodating, and the trading options unique enough to put Nadex in a class of its own.