A number of free trading days dependant on the initial deposit
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|Headquarters||North American Derivatives Exchange, Inc. 311 South Wacker Drive Suite 2675 Chicago, IL 60606|
|Support Types||E-mail, Phone|
|Free Demo Account|
|Deposit Methods||Debit Card, Bank Transfer, Wire Transfer, Paper Check|
|Withdrawal Methods||Debit Card, ACH Withdrawal, Wire Transfer (Telegraphic Transfer)|
|Expiry Times||From 5 minutes to a week.|
|Types of Assets||Currencies, Stocks, Indices, Commodities|
|US Traders Allowed|
The North American Derivatives Exchange (NADEX), incepted in 2009 and known in the past as HedgeStreet, is the world’s first regulated exchange for derivatives and futures that is Internet-based. It is the sole binary options broker where U.S. traders can participate. Located in Chicago, it is comprised of an expert team of financial, regulatory, and technical gurus. It is strictly overseen by CFTC and the website is available only in English.
To initiate binary trades at NADEX, one has to first start a trading account. In order to do so, a user must fund it with a minimum amount of $100. In addition, there is also the option of opening a demo account for beginner traders who would like to practice their skills before they commit to real trading. Unfortunately, there is no mention of having the option to launch an Islamic account for Muslim clients. Payouts can go up to 75%.
Deposit and Withdrawal Options
Not only does NADEX offer its members with convenient and quick ways for funding their accounts but it also dwells on providing an utmost security, thus ensuring a pleasant and exciting trading atmosphere. For American citizens, NADEX accepts Debit Card deposits, as well as depositing through ACH Bank Transfers, Paper Checks, and Wire Transfers, while for international traders, the available methods are international bank wire transactions and debit cards.
Withdrawal requests are processed in a timely fashion and the methods for withdrawing cash from NADEX include Wire Transfers (these transfers come with a $25 fee) as well as ACH withdrawals where no additional fees are associated with. As for international customers, the only available withdrawal means are Wire Transfers. Please allow from 3 to 5 business days for withdrawals to appear in your account. Unfortunately, NADEX does not permit making withdrawals through debit cards, but you can do that via bank transfers after your debit card has been verified.
With NADEX’s short-term binary options, a user just has to predict whether the price of a certain asset will go over a given level or not. These short-term options vary from five minutes up to a week. NADEX also provides the opportunity to exit a trade before its expiry time so as to minimize any losses. An amazing feature provided by this broker is its “Protection from Market Spikes” option which keeps the price of a contract between the floor and the ceiling. The platform of NADEX is also customizable to better serve the needs of a trader.
The broker has a great education academy crammed with a number of features. First of all, market commentaries are provided daily through a stream of economic news. Secondly, users may acquaint themselves with the fundamentals of trading binary thanks to trading handbooks and a glossary with concepts and definitions. In addition, traders are encouraged to participate in the live webinars that are offered for free to registered users. There is also a host of videos to further educate customers of NADEX.
Customer support can be accessed via a fixed toll-free telephone line in the U.S.A. and one for international users, as well as through an e-mail. Quite disappointing is the fact that NADEX lacks a live chat option. However, the broker is present in social media – Twitter, Facebook, YouTube, and LinkedIn.
It is definitely a bonus that NADEX accepts U.S.-based traders. There is also a Fee Holiday bonus. All account holders can be bestowed up to $500 after they make their first deposits. Given that they had not returned any deposits for two weeks, they are also eligible for up to $1,000 bonus. The same rules apply to non-U.S. residents who would like to start trading using NADEX.Open an Account