Nadex review – UK, EU and US Based.

(You invest on your own risk)

Nadex, formerly known as HedgeStreet, is a binary options and spread broker based in Chicago, Illinois.

When it comes to trading in the United States, the selection is somewhat limited, although Nadex is an excellent choice. This broker really has all you would expect from it and then some.

As a matter of fact, Nadex was the first and still remains the leading broker to offer binary options on the American market and their product is groundbreaking to say the least.

With five different asset classes and a cutting-edge web-based trading platform, this modern binary options broker will continue to drive the industry forward.

Without further ado, let’s take a closer look at Nadex and all its features and tools.

Is Nadex a scam?

No, Nadex is not a scam by any stretch of the imagination, but you wouldn’t be blamed for thinking that. The United States has one of the strictest markets in the world, and very few legitimate and illegitimate brokers are available. Nadex, on the other hand, has not only survived the grueling regulation process but is also thriving.

Today, Nadex is only available to American citizens residing within the United States, with a few exceptions. The broker is licensed and regulated by the Commodity Futures Trading Commission (CFTC) as a Designated Contract Market and Derivatives Clearing Organization. That means every part of the broker is overseen directly by the United States Government, and if the CFTC finds anything remotely suspicious, they have the authority to terminate the broker.

Nadex is also owned by IG Group which also owns and runs IG Markets, one of Europe’s top CFD brokers. IG Group is highly respectable and has been in the game since the 1970’s without any legal problems.

In other words, Nadex is regulated for the American market and is owned by one of the most trusted financial companies in the world, and to us, there is no doubt that Nadex is not a scam.

In fact, if you’re an American looking to start trading binary options, then Nadex is the only really trustworthy option. Any offshore broker is operating illegally which is something you want to avoid being associated with.

5 Things You Should Know About Nadex

  1. Nadex is one of the few and definitely the best binary options broker to ever have served the American market. The broker is based in Chicago and is regulated by the CFTC which is a part of the American government.
  2. Nadex was called HedgeStreet until British IG Group bought and rebranded the broker some years back. IG Group has over 40 years of experience from the trading world and also operates the award-winning broker IG Markets. Unlike Nadex, IG Markets is a CFD broker in the European market space.
  3. With a Nadex trading account, you gain access to 5 asset classes. You can speculate on American and international indices, leading currency pairs, influential commodities, economic events, as well as the price of Bitcoin.
  4. Registering an account with Nadex takes less than five minutes, and with your first deposit of $250, you will be trading in no time. Note that Nadex is only available for American citizens. For brokers available in Europe we suggest you check out our list of the best CFD brokers.
  5. The Nadex platform has full device support, meaning you can use it on computers running on macOS, Windows, and Linux. In addition, the Nadex trading app can be downloaded to Android and iOS, and there is a brand new web-based mobile platform being developed (available in a beta version).

Trading with Nadex

As mentioned, Nadex is a binary options and spread investment broker but what assets can you trade with Nadex? Right now, there are five different markets that you can trade with, but that number is set to increase soon.

Indices – Trade on the world’s most influential stock indices. By using Nadex, you can easily benefit from even the smallest market movements, and it can be both entertaining and lucrative.

Forex – Nadex is currently offering 10 currency pairs with a very high daily turnover as binary options. That means you can speculate on the forex market without having to buy the actual currency pairs.

Commodities – You can also use Nadex to invest in a selection of energy, metal, and agriculture commodities. Among the available assets, you’ll find gold, silver, copper, crude oil, natural gas, corn, and soybeans.

Events – This asset class is rather unique, and it is the first time we’ve seen it. Nadex lets you speculate on certain economic events such as unemployment rate reports and whether or not you think the Fed will raise interest rates. It’s a fun concept that we wished more brokers in Europe offered since it can offer a well-needed diversification of many portfolios.

Bitcoin – Finally, Nadex offers you the opportunity to speculate on the price of Bitcoin without actually owning any Bitcoins. The price data is based on the TeraBit Index, and we are expecting to see more cryptocurrencies added to the list as the CFTC declares them OK for speculative trading.

The Nadex Trading Platform

Nadex’s exchange is completely web-based meaning you never have to download anything to use it. The main Nadex platform is compatible with Windows, Mac, and Linux and all you need to access it is a login and a password.

In terms of design, the Nadex platform is easy to use and understand and in no way does it ever feel cluttered with tools and features. Instead, when you open the exchange you are immediately provided with investment opportunities and you can begin trading within minutes of starting your computer.

Nadex also provides some cutting-edge charting tools and real-time price data for all the available assets. However, the coolest feature on the Nadex platform is that you can invest directly from the analytic tools. On other platforms, the analytic tools and the trading tools are kept separate, but with Nadex you can analyze the market and just hit “buy” or “sell” when you find an opportunity. It is super practical!

Nadex Mobile Platform

With a Nadex account, you get unlimited access to all of Nadex’s tools including their mobile platform and their latest mobile tools.

The Nadex trading app is available on iOS and Android and can be downloaded from the two app stores. However, the Nadex trading app only has support for spread trading and cannot be used for binary options which quickly becomes limiting. With that being said, you can use the app to trade all the available assets just not as binaries.

To deal with the binary option limits, Nadex is working on a new mobile trading tool. It’s called the Nadex Mobile, and it’s the next generation of mobile trading apps. Nadex Mobile is web-based which means you don’t have to download any apps to use it and unlike the previous app, the Nadex Mobile has support for binary options and all the tools you can use on your computer. At the time of writing, Nadex Mobile is available but in a beta version and we expect to see the full platform being launched within the coming year.

The Demo Platform

There is a specially designed demo platform for all traders using their demo accounts. This platform has been developed to offer a safe environment where traders can practice new skills and compared to the main platform, features and tools are restricted. See the section below to learn more about Nadex demo accounts.

Trading Account and Demo Account

To keep things simple, Nadex only offers two accounts: one real trading account and one demo account. If you want to trade using your own real money, you need to register for a real trading account. The registration process takes no more than five minutes and can be initiated 24/7. After you’ve provided all the necessary information, Nadex will evaluate you and either approve or deny you as soon as they can – usually no longer than a few hours.

Registration can be done from a computer or via the Android app. Note that the account is completely free to open, but in order to activate it, you need to deposit $250.

Nadex Demo Account

If you’re new to trading and want to test the concept out before risking your own money, you can open a Nadex demo account. The account comes with $25,000 that you can use on the demo platform. All price data on the Nadex demo platform is updated in real-time, and they mirror the data from the actual exchange. However, many of the tools and features are limited.

You can upgrade your demo account to a regular trading account whenever you like and you will have access to your demo account even after you start trading with real money.

License and Regulation

Nadex is subject to US regulatory oversight by the CFTC, but what does that actually mean? Let us explain.

We continuously discuss the importance of only using regulated brokers when trading in Europe and the same goes for American traders. The only difference between the European market and the American market is that European traders have many more options, in the United States, Nadex is your only option.

With that being said, binary options trading is no longer available in Europe and CFD trading is banned in the US so the brokers offer different products.

In the United States, the Commodity Futures Trading Commission (CFTC) oversees binary options trading and most of the country’s exchanges, including Nadex. The CTFC’s task is to protect traders from fraud, price manipulation, abuse, and systematic risk and Nadex is operated under very strict regulations.

CTFC happens to be a part of the United States government and you can feel completely safe when you trade using Nadex as an American in the United States.

Payment Options for Your Nadex Account

There are two different systems for deposits and withdrawals to and from Nadex. The first system is for traders residing in the United States and the second system is for people residing outside of the country.

Deposits and Withdrawals US residents

You can deposit money into your trading account by using your debit card, an ACH transfer (Bank Transfer), Wire Transfer (Telegraphic Transfer), or a paper check. The same options, except for paper checks, are available for withdrawals.

Deposits and Withdrawals Non-US Residents

If you reside outside of the United States you can deposit and withdraw money using your debit card or a regular bank transfer (wire).

You also need to be aware that Nadex only allows deposits from your personal checking account. That means the bank account used needs to be registered under the same name as you registered your Nadex account. Deposits cannot be done from a savings account.

Failure to follow these rules can result in your transfers being denied or you will be subject to inflated transfer fees.

Nadex Customer Service and Contact Information

Do you need to contact Nadex? Then you have a few practical options to choose from.

The most practical way to get in touch with Nadex as a registered customer is by calling. If you’re in the United States you can call the US toll free phone number (1 877 776 2339) and if you are abroad, you can call the international number (1 312 884 0100).

Nadex support is available between Sunday 3 PM EST through Friday 5 PM EST. Outside of those hours and for questions that aren’t time sensitive it is best to email Nadex at

If you haven’t signed up for an account yet and have questions about the service you can call Nadex on one of the numbers mentioned above to talk to an account specialist. The account specialists are available between 7:00 am – 8:00 pm EST, Monday-Thursday and 7:00 am – 4:15 pm EST on Fridays.

Nadex’s mailing and visiting address is:

North American Derivatives Exchange, Inc

200 West Jackson Blvd

Suite 1400

Chicago, IL 60606

Trading Fees and Commission

IG Group is proud to offer a 100% commission-free trading platform. Let us say that one more time, you will not be charged commission or brokerage fees when using Nadex.

Although, Nadex is still a profitable business and it’s not completely free to trade on the platform. Every trade you place comes with a small 1 dollar fee for opening a position and a 1 dollar fee to close a position. However, if your binary options ends up expiring at zero, Nadex waives the closing fee.

The Nadex fee system is quite unique, especially compared to European CFD brokers, but the actual cost of using the platform is not more than other brokers we have reviewed. In fact, we think it’s nice that Nadex charges an exact amount for every trade and not a percentage or spread based charge.

Final Thoughts on Nadex

We honestly believe that the American binary options market is up and coming and we wouldn’t be surprised to see more brokers and exchanges offering similar products in the next coming few years. However, until then, Nadex is the only real option for American traders. Luckily, Nadex is a great exchange that offers cutting-edge products, a safe trading environment, popular assets, and an overall great trading experience.

Binary options and spreads are a great alternative to traditional trading and something we and many others use to diversify our portfolios. In many ways, binary options are more entertaining since it’s so much faster than regular stock or commodity trading too.

We take a lot of pride in what we do and only recommend the brokers that we consider to be the best of the best, and there is no doubt in our minds that Nadex qualifies. So, if you’re an American citizen within the legal trading age and you want to start trading binary options, then Nadex is your go-to broker.


Between 73-89% of retail investor accounts lose money when trading CFDs.