1. What is Nadex?
  2. Nadex Pros and Cons
  3. Is Nadex Safe or a Scam?
  4. Leverage
  5. Accounts
  6. Trading Instruments
  7. Fees
  8. Spreads
  9. Deposits and Withdrawals
  10. Trading Platform
  11. Customer Support
  12. Education
  13. Conclusion

Our Review Method

  • 55Brokers Financial Experts with over 10 years of experience in Forex Trading check all trading offerings, fees, and platforms, verified regulations, contacted customer service, and placed traders to see trading conditions and give expert opinions about Nadex.

What is Nadex?

North American Derivatives Exchange, better known as Nadex is Trading Broker the first and actually largest US exchange that offers legal and fully regulated opportunities to trade Binary options, Touch Bracket and Call Spreads.

There is a dramatic difference between a broker and an exchange. Since Nadex matches buyers and sellers, it does not take any positions in any of the markets. So Nadex is fully legit US Broker with access to Regulated Binary Options Exchange.

  • This is indeed an absolutely progressive trading opportunity, as previously, the majority of US residents could only trade through offshore entities, which we never recommend trading with due to their lack of reliability and regulation.

What Type of Company is Nadex?

We learned that Nadex is a regulated financial exchange designed for binary options, call spreads, and knock-outs, providing secure and innovative ways to participate in the markets. Traders have access to multiple markets for ongoing series of short-term trading opportunities.

Nadex Pros and Cons

Based on our findings, Nadex is an established, and reliable exchange regulated in the US. The exchange has an excellent reputation since it provides competitive trading proposals, and is the only Regulated exchange to trade binary options. Nadex offers great trading tools and technology with low fees.

For the Cons, binary options are a risky trading instrument, and also there is no 24/7 customer support.

Strong establishment and US regulationNo 24/7 support
Good reputationBinary Option is risky trading instrument
The Only Binary Options Regulated Broker
Competitive trading proposal, legal way to trade binary options
Great trading tools and trading technology
Proprietary awarded software
Low fees and commissions

Nadex Review Official Website

Nadex Review Summary in 10 Points
🏢 HeadquartersUSA
🗺️ RegulationCFTC
📉 InstrumentsBinary options and spreads trading on stock indices, Forex and commodities
🖥 PlatformsNadex Platfrom, NadexGO
💳 Minimum deposit$250
💰 EUR/USD SpreadCommission $1 per contract side
💰 Base currenciesUSD
🎮 Demo AccountAvailable
📚 EducationLearning center with comprehensive materials, webinars and seminars
☎ Customer Support24/5

Overall Nadex Ranking

Based on our Expert research, Nadex is a well-regulated financial exchange with safe and very favorable trading conditions. The platform is ideal for short-term traders who want to engage in binary options and spreads trading.

  • Nadex Overall Ranking is 9.3 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to industry Leading Brokers and Exchanges.
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
AdvantagesLow DepositPlatformsTrading Conditions

Nadex Alternative Brokers

We learned that Nadex offers a range of trading instruments, good trading conditions, and also low trading spreads and fees, also it doesnt have competitors on being only one Regulated Binary Options Broker in US. However, there are a number of other brokers or exchanges that provide good trading services too. Here are some of the best alternatives to Nadex:


As a global reputable exchange company, Nadex has over 10,000 hourly, daily, and weekly contracts traded five days a week on desktop and mobile platforms. It is a highly regarded company, which has gained great reviews from global traders for its transparency and good quality services.

Is Nadex Safe or Scam?

No, Nadex is not a scam. Nadex is a US-based company located in Chicago and is regulated by the CFTC  as a financial exchange. Based on our findings, Nadex indeed is a pioneer company that offers a fully legal way to trade binary options and Call Spreads.

Is Nadex Legit?

Yes, Nadex is a legit and regulated exchange. The company is regulated by the sharp US authority that offers a fully legal way to trade Options, Spreads, and more.

See our conclusion on Nadex Reliability:

  • Our Ranked Nadex Trust Score is 9.5 out of 10 for good reputation and service over the years, also reliable US authority’s license.
Nadex Strong PointsNadex Weak Points
Established according to the United States CFTC and NFA regulationNo stop-loss mechanism
Global expands over 50 countries
Negative balance protection
Security of funds

How Are You Protected?

We learned that Nadex operations are strictly overseen and comply with international safety measures while the client is protected by numerous obligations.

Nadex also defines its function as an exchange service company that ensures all trades are executed fairly and in accordance with US laws, while the environment is fully collateralized without leveraged risk, with no margin calls or debt risk. In particular, Nadex complies with solid risk control trading systems and strong protection of client money, while all your funds are kept in segregated accounts in US banks.

Nadex Reviex License


Leverage, which is defined as a loan given by the broker to the trader, enables vast trading opportunities because a multiplied size of your initial capital allows you to operate at a much bigger size in exchange for increasing potential to make higher gains. However, the leverage significantly increases risk levels too.

Therefore, leverage may be risky at the point you set it wrong especially at the highest, non-reasonable levels and this is the case why regulatory restrictions impose lower maximum levels.

  • Nadex as a US firm is obliged to use and offer a maximum of 1:40 for some instruments available for individual traders.

Account Types

We found that Nadex offers a live account with no minimum deposit required, as well as a demo account that comes with $10,000 in virtual funds.

Fast digital account openingLimited number of trading instruments
Account feature defined by the type of investor
Free deposits
Various base currencies supported

How to Open Nadex Live Account?

Opening an account with Nadex is quite easy. You should follow the opening account or log-in page and proceed with the guided steps:

  • Click on the “Open account” icon on the Nadex homepage
  • Enter the required personal data (Name, email, etc.)
  • Verify your personal data by upload of documentation (residential proof, ID, etc.)
  • Complete the electronic quiz confirming your trading experience
  • Once your account is activated and proven, follow with the money deposit.

Nadex Review Open an Account

Trading Instruments

We found that Nadex offers a wide range of binary options and call spreads trading on stock indices, Forex, and commodities markets, all available from a single account and the platform offered by Nadex.

  • Nadex Markets Range Score is 8.9 out of 10 for wide trading instrument selection among Binary Options, Forex, Indices, Commodities, and more.

Nadex Review Trading Instruments

How to Trade Binary Options on Nadex?

Based on our findings, traders can start trading Binary Options by following these steps carefully:

  • Know the market trends.
  • Pick the market you want to trade.
  • Select a strike price and expiration.
  • Place your trade.
  • Wait for expiration, or close out your trade early.

However, we recommend avoiding any kind of risk that could result in the loss of your capital.

Nadex Fees

Based on our research, Nadex offers transparent fee conditions based on commission charges, which are considered to be low commissions.

  • Nadex Fees are ranked average with an overall rating of 9.2 out of 10 based on our testing and compared to over 500 other brokers. See our findings of fees and pricing in the table below, however, Nadex overall fees are considered good.
FeesNadex FeesPepperstone FeesIG Fees
Deposit feesNoNoNo
Withdrawal feeNoNoNo
Inactivity feeYesNoYes
Fee rankingLowLowLow

Nadex Review Fees


We learned that Nadex call spreads or trading costs are actually built into the commission basis, while you pay only $1 per contract side with no other fees, which is considered low cost trading.

This is a great option for traders of all levels of experience, as this commission-based model makes your calculations easy and lets you know exactly your expense per trade.

  • Nadex Spreads are ranked low with an overall rating of 8.9 out of 10 based on our testing comparison to other brokers. We found spreads much lower than the industry average, and also very attractive too.
Asset/ PairNadex SpreadPepperstone SpreadIG Spread
EUR USD Spread0.25 pips0.77 pips0.6 pips
Crude Oil WTI Spread0.25 pips2.3 pips3 pips
Gold Spread0.250.1330
BTC USD Spread$1.0031.3965

Place the Trade

Nadex Review Funding

Deposits and Withdrawals

We found that after you open your free account with Nadex and deposit funds into the trading account, you can begin trading almost instantly. There might be slight differences between the treatment of US or international clients, due to regulatory restrictions, so make sure to check conditions with Nadex Customer Support.

  • Nadex Funding Methods we ranked good with an overall rating of 8.5 out of 10. The minimum deposit is among average in the industry, yet fees are either none or very small also allowing to benefit from various account-based currencies.

Here are some good and negative points for Nadex funding methods found:

Nadex AdvantageNadex Disadvantage
Fast digital deposits, including Credit/Debit CardsSome withdrawal methods may add on fees
No internal fees for deposits and withdrawals
Multiple account base currencies
Withdrawal requests confirmed within 3-5 business days

Deposit Options

Generally, there are several deposit options available for your transactions to or from the account, including:

  • Bank Wire Transfers
  • Cards
  • ACH Transfers
  • Paper checks for US clients

Nadex Minimum Deposit

Nadex’s minimum deposit is $250, which will allow US residents to open an individual account. A business or entity account will require other conditions, as they mainly are tailored solutions in all aspects.

Nadex minimum deposit vs other brokers

Nadex Most Other Brokers
Minimum Deposit $250 $500

Nadex Withdrawals

For withdrawal of Nadex funds, you may choose either bank wire transfer or ACH withdrawal, which are available for both US and international traders. Nadex does not charge any fees for an ACH withdrawal, however, a bank wire withdrawal will cost $25 for processing fees.

Nadex Review Deposits and Withdrawals

How Withdraw Money from Nadex Step by Step:

  1. Login to your account
  2. Select Withdraw Funds’ in the menu tab
  3. Enter the withdrawn amount
  4. Choose the withdrawal method
  5. Complete the electronic request with necessary requirements
  6. Confirm withdrawal information and Submit
  7. Check the current status of withdrawal through your Dashboard

Trading Platforms

Based on our Expert research, we found that Nadex offers its proprietary Nadex web and desktop trading platforms and NadexGO mobile app.

  • Nadex Platform is ranked good with an overall rating of 8.9 out of 10 compared to over 500 other brokers. We mark it as good being one of the best proposals we saw in the industry, suitable for professional trading. Also, all are provided with good research and excellent tools.
Trading Platform Comparison to Other Brokers:
PlatformsNadex PlatformsPepperstone PlatformsXM Platforms
Own PlatformYesYesYes
Mobile AppsYesYesYes

Web Trading Platform

Nadex offers online and mobile platforms that allow you to take short-term positions and speculate on the minimum price movements for an offered wide range of markets. Nadex platforms connect you directly to the Nadex exchange, so the pricing is built accurately and orders are placed quickly.

Desktop Platform

We learned that the Nadex desktop platform is equipped with powerful characteristics, which allow you to track, manage, and analyze markets in the best manner with its full-featured charts, technical indicators, and drawing tools, signals.

Also, you will get free access to market data with unique ladder charts, making trading from charts easy and possible by selecting markets and orders to be placed, which is a good offering overall.

Mobile Platform

NadexGO is another addition to your seamless trading as a mobile version, which is synchronized with the desktop version but allows you to state up-to-date on-the-go from almost any point so long as you have an Internet connection.

Nadex Review Mobile Platform

Customer Support

Nadex also provides unparalleled, reliable, and high level support to their traders and clients. The customer service team is available via phone and Live Chat, and you can also leave your question or request via an online form.

  • Customer Support in Nadex is ranked good with an overall rating of 8.2 out of 10 based on our testing. We got fast and knowledgeable responses, also quite easy to reach during the working days.

See our find and ranking on Customer Service Quality:

Quick responses No 24/7 customer support
Relevant answers
Live Chat and phone lines
Online access to requests

Nadex Review Customer Support

Nadex Education

We found that Nadex also has an established Learning Center, so you can deepen your knowledge and potentially become a better trader with comprehensive learning materials, webinars, and seminars held on a regular basis by Nadex specialists.

  • Nadex Education ranked with an overall rating of 8.5 out of 10 based on our research. The exchange provides very good quality educational materials, and excellent research also cooperates with market-leading providers of data.

Nadex Review Education

Nadex Review Conclusion

Concluding the Nadex review, we admit that Nadex is very promising and indeed competitive since traders will get a pure opportunity to trade Binary Options and Call Spreads with a fully regulated company in the US, which is the only one offering in the market compared with unreliable offshore brokers.

In addition, traders will get a great cost strategy with a commission of $1 per contract, vast educational material, great support from the company, and low deposits to begin.

Based on Our findings and Financial Expert Opinions Nadex is Good for:

  • Professional traders
  • US Traders
  • Binary options and spreads trading
  • Variety of trading strategies
  • Good customer support
  • Excellent educational materials
  • Low fees and competitive spreads

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