Posted on 19 July 2013.
As we originally covered the NADEX binary options trading platform last year, we felt it was time to revisit the platform to see how it has progressed in the last 11 months or so. At the time when we had done the initial review, NADEX was still generally new, giving us limited amount of information to work with. Now, let’s revisit NADEX to see what kind of reputation they have made themselves, and if it is worth it to sign-up. Before making your decision, take a look at what we have found.
Formerly known as HedgeStreet, NADEX (North American Derivatives Exchange) emerged into the options market in 2010. It serves as a digital trading platform that facilitates trading in a number of financial derivatives, primarily in binary options. Consolidating both a derivatives clearing house (known as Derivatives Clearing Organization) as well as an exchange (Designated Contract Market) all onto one platform both NADEX and the binary options market has been continuously appealing to more and more traders. With their headquarters based in Chicago, IL NADEX is regulated by the US Commodities Futures Trading Commission. By being 100% web-based NADEX relieves you of having to purchase any type of software that you would have to install. This gives you the freedom of accessing your account from any computer or device with web-access. All data and information stream to your account in real-time, no need to click “Refresh” or hit “F5.” To make it even easier for traders, members simply have to login to their account and then have the ability to place orders directly into the exchange. This platform also gives you the ability to trade on various markets and indexes with limited risk.
In order to use NADEX, retail investors or traders simply open a trading account. This process usually takes less than five minutes and there is no fee or obligation required for those who sign up. Before beginning any type of trading you need to make an initial deposit of at least $100 in the form of a wire transfer, electronic check, or by mailing a paper check. Although the latter takes around five days to appear in the member’s account. Afterwards investors can deposit however much they like into their account (only dollar amounts) without worrying about any deposit fees. Your account must have enough though to at least cover the maximum potential loss of your trades in order to use NADEX successfully. Besides also offering investors a hands-on experiences with their Demo Account feature, NADEX gives all of their members with simple trading instruments and easy payout schedules allowing investors to trade with ease. Open to both American assets and the global market, NADEX provides investors with enough room to trade, sell, and purchase all on one consolidated-web-based platform.
At this point in the NADEX review, let’s take a look at the pros and cons of this online trading platform. Even though everything has sounded easy enough so far, there has to be a couple of roadblocks, right? That is, unless NADEX is the perfect product… Which it is not. Take a look at the collection of pros and cons below.
Like the lists show above, the pros seem to outweigh the cons. Most of the other complaints or downsides that I have seen mentioned recently were from those who were not familiar with typical averages on binary options returns. Besides it being too complex for beginners, it seems that NADEX would be a great asset for any seasoned investor.
After looking at the pros and cons of this NADEX review, in addition to signing-up for a demo account to try it out, I would definitely say NADEX is a good platform for trading. Transparency is not something that all companies offer, however NADEX is upfront with everything including their transaction fees. With averages resulting in the same amount of returns as traditional binary options trading any intrigued investor should at least give NADEX a try. Who knows? The NADEX platform might be the answer to your success!
What did you think of our NADEX review? Will you be trying NADEX in the future? Why or why not?
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