Legal US Binary Options

Legal US Binary Options

If the name “Nadex” sounds familiar, it is probably because this site is just about the only game in town when it comes to CFTC-regulated binary options online. “Nadex” stands for “North American Derivatives Exchange,” and is owned by a company called IG Group which is based in Chicago, Illinois. The site used to be known as “HedgeStreet,” and launched clear back in 2004 as the very first CFTC-regulated online exchange for derivatives and event futures.

Since changing hands, the site has become focused exclusively on binary options online trading. As you might guess, it is quite a bit different from what you may be used to. This is not another SpotOption white label broker. Everything is proprietary. The platform takes some getting used to, but once you do, you can trade legally in the USA with the CFTC’s blessing.

Quick Details about Nadex

  • Official Website: http://www.nadex.com/
  • Account currencies: US Dollar
  • USA traders: Yes
  • Regulated by the
  • Fully functional demo account
  • Low minimum deposit: $250
  • Minimum trade size: $1
  • Maximum trade size: Depends on market ceiling
  • Trading Fee’s – $1 per contract up to $50, settlement is $1 per contract (no cap)
  • Average payout: 200%+
  • Out-of-money refund: None.
  • 29 assets available to trade
  • Platform: Proprietary
  • Early close available

Step 1: Account Creation

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This part is easy. Click on the orange “Open an Account for Free” button in the upper right-hand corner of the screen. You can start with a live account or a fully functional demo account. Yes, you can demo trade indefinitely here—which is totally awesome!

Step 2: Funding Your Account

To fund your account, you may use your debit card, wire transfer, bank transfer, or even a paper check sent through the mail. The minimum deposit for a Nadex live account is $100 $250. *Updated 8/26/16. To avoid withdrawal fees, it is recommended that you use the Automated Clearing House network (ACH) for bank transfers. You cannot use your debit card to withdraw, so the only other option is a wire transfer, which involves a $25 processing fee.

Trading Binary Options on Nadex

You may be intimidated when you first log in and have a look at the trading platform. It looks nothing like SpotOption. Across the top is a menu which allows you to navigate through markets, your watchlists, open positions, your order history, and so on. On the left you will find types of options. Note that these all seem to be High/Low options, but there are different kinds of assets available. Along with the traditional stocks, indices, currencies, and commodities, you will find Bitcoin and events. Yes, you can trade on the fed funds rate, jobless claims, and nonfarm payroll figures directly!

In the middle of the platform you will find the list of contracts which are available. Click on one and you can place an order. Now, here is where you may find yourself getting confused. Whereas on most binary options online platforms you just see a space to enter an “amount,” here you will see “size” and “price.”

Size here may sound a little ambiguous (I was totally confused when I first saw it), but it simply refers to lots. So say you set the price to $1 (which is the minimum). If you set “size” to 1, you will trade one lot of $1. If you set “size” to 10, you will trade 10 lots of $1, or $10. If you set “size” to 100, you will trade 100 lots of $1, or $100, and so on. The maximum depends on the “market ceiling,” which is listed in the same window. There is also a “market floor” you cannot go below (which seems to be $1).

There is no out-of-money-reward, but this is nothing to get down about. The potential payouts on Nadex are much higher than they are with off-shore brokers. Why? Because off-shore, the broker is assuming the other side of your trade, and loses money when you win. But with Nadex, you are part of an exchange, and are trading directly against other traders (this is part of the whole CFTC-regulated thing). As a result, Nadex can afford to pay you much higher profits—200% or more. Compare that with the 70-85% or so that you are offered by overseas binary options online brokers, and you can see the Nadex advantage.

The downside is that there are transaction fees. You are charged a commission upon both entering and exiting a trade. You are charged $0.90 per lot, capped at $9.00. Above that you are not charged any additional fees for additional lots. So you should consider the fees when you are structuring your trades.

Also note that another great thing about Nadex trading is the fact that early close is offered. Yes, a lot of brokers overseas offer early close as well, but often with strange restrictions which limit its usefulness. You can get out of a trade at any time you need to here to collect a partial profit or cut your losses.

Trading and Educational Features Available

Not only is Nadex’s website beautifully designed and stocked with an abundance of how-to information introducing you to the platform and services, but the company also provides you with webinars, videos, and e-Books to teach you about trading. Market commentary is always up-to-date, and Nadex even goes so far as to offer live events in person. So you will have an easy time learning about binary options online on the site. It is not a thorough education, but it is a great start.

Is Nadex a Good Exchange? (Yes!)

Yes absolutely! You are not going to find a more legit choice for trading binary options online in the USA.

Since you are dealing with a CFTC-regulated company, there are no concerns about the legality of what you are doing, and you know your money is in safe hands.

Nadex offers a secure trading environment for USA and international traders alike. So take advantage of the high payouts, exciting assets, excellent resources, and peace of mind that comes from trading with a regulated exchange in the USA. Visit www.nadex.com to set up your account and thank me later.

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