This platform has a reputation for guiding new brokers as well as the averagely experienced brokers into complete experts and that is why if you are new to Nadex Binary Trading platform, you are advised to take the short tutorial videos available on their site. These videos will help you learn how to trade binary options, market events, Forex binary options, slow markets, flat markets and so on. This platform offers a wide range of markets; from stock indices to Forex to commodities to events.
Here’s the main benefits of trading binary options with Nadex:
Regulated exchange
Nadex is specifically set up for Derivatives Clearing Organization and Contract Market, depending on the regulations of CFTC. These regulated exchanges can guarantee that you gain certain benefits such as
- No special or expert broker needed.
- Every trade will be done in complete transparency.
- US based users can also trade.
- Clients’ money can be kept in separate bank accounts in the US.
- Subject to the regulations of CFTC.
Capped fees
Nadex works with a competitive capped fee system. The trading fee for every lot traded is as low as $0.90 and a maximum charge of $9 can be charged per order. When there is a position held until expiration, settlement fees may be applicable and the trading fees will be replaced by this settlement fees when paid.
The standard trade and settlement fees for Nadex clients who became members after 17th August 2011 are as follows:
Trading fees
Lots 1-10 – $0.90 each (capped at $9.00).
Lots 11 and above – no extra charges.
A trading fee is to be paid on both side of the trade: once after opening and the second after closing.
Settlement fees
Lots 1-10 – $0.90 per lot (capped at $9.00).
Lots 11 and above – no extra charges.
No extra fee is charged for trades that settle out of money.
Other fees
Returned check – $25.
Wire transfer – $25.
Electronic check – free.
Electronic check set up and deposit – free.
Account set up – free.
Legal for US residents
There is some level of confusion as to the legal nature of binary options trading in the US. The major part of this confusion can be linked to the increase in off-shore binary options platforms as well as the OTC contracts or off-exchange they offer.
When it comes to the legality of “binary options”, the question shouldn’t be more on if it is legal but on if it is recorded on any appropriate US trade and are companies providing such services correctly registered and regulated to provide US residents with this type of contracts.
We assure you that Nadex is a regulated US exchange which is designated by the Commodity Futures Trading Commission and has the legal backing to take citizens of the United States as clients.
In addition, you can open a demo account as well as the real account for free and you will receive periodic market updates to help you stay on top of your binary option trade.
Why Nadex stands out
Since Nadex is situated in the United States, the platform is subject to the regulations applicable to its activities as overseen by the CTFC. Some of the very important principles of this regulation include:
- Nadex brings together sellers and buyers in an unbiased way. Different from the online platforms, Nadex stands out because it doesn’t gain anything from the profits or losses of a trade. Instead, Nadex charges a fixed fee which is clearly stated and agreed upon before the trade is started.
- Nadex provides a transparent environment for the settlement of accounts, which includes sales and time information.
- Nadex keeps its clients’ money in separate banks within the US.
These principles are meant to regulate and protect brokers and their money and Nadex takes these into full consideration. If you are trading binary options with someone from another country while in the Unites States, you ought to consult an expert broker if it conforms with the appropriate principles.
That said, Nadex is one of the best choices when it comes to choosing the right and reliable binary options trading platforms.
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Still have questions? Feel free to check out our ultimate guide on how to trade forex to learn the different ways to utilize trading strategies, avoid amateur mistakes, and maximize your income.