Nadex Review 2026

Nadex is no longer taking on new clients. It announced it was retiring its platform and transitioning to Crypto.com. It stopped accepting binary options trades on 20 December 2025. The review below is provided for historical purposes.

Nadex was one of the longest-standing binary providers, standing out in a mostly weakly regulated market thanks to its authorization from the US Commodity Futures Trading Commission (CFTC). The exchange offered binaries from 5 minutes to 1 week on a well-designed platform with an extensive charting package from TradingView.

However, the range of underlying assets disappointed during our tests, while the limited research tools and payment methods may have left aspiring traders wanting more.

Find out what our experts thought of Nadex after they opened an account and explored every inch of the platform, including placing binary trades on the web terminal and NadexGO mobile solution.

Pros & Cons

Pros

• As a regulated US exchange, Nadex ensured a high degree of transparency and security with reduced conflict-of-interest vs most offshore binary brokers, with Nadex matching orders and using market makers for liquidity.
• Its platform offered unique contract types like binaries, knock-outs, and call spreads that combined simplicity with flexible risk and reward controls, suitable for tactical, short-term trades.
• Nadex supported fast, straightforward trading through its web and mobile platforms, including features like price ladder charts and immediate trade exit options, which let you trade efficiently in volatile markets.

Cons

• Nadex offered a limited number of tradable assets compared to other binary options platforms we’ve tested, which can restrict trading opportunities for those seeking a wide market variety.
• Research features like market news and technical analysis, which could be used to inform newer binary trades looking for market opportunities, were lacking.
• The fee structure with fixed per-contract fees may have added up quickly for traders placing frequent small trades, potentially making it less cost-effective for low-volume traders.

Company Details

Nadex (North American Derivatives Exchange) started in 2004 under the name HedgeStreet before being rebranded in 2009 after its acquisition by IG Group in 2007. It became part of Foris DAX Markets, the same group behind Crypto.com, based in Chicago.

Nadex operated as a Designated Contract Market (DCM). That meant it wasn’t a typical offshore binary options broker, but a US-regulated exchange that matched buyers and sellers rather than taking the other side of trades.

It was regulated by the Commodity Futures Trading Commission (CFTC) as a Designated Contracts Market (DCM), registration number 34536. The CFTC is the leading authority overseeing futures and derivatives in the US and a ‘tier 1’ agency in our regulator directory.

Being under the CFTC’s watch gives you more protection than what most offshore binary brokers offer, since Nadex had to follow strict capital, reporting, and audit rules.

Client funds were held in segregated bank accounts at Fifth Third Bank and BMO Harris Bank, separate from company funds, which added another layer of safety. For traders, this meant Nadex offered a legal environment with transparent fees and clear risk limits.

But regulation also means more formality – fewer assets than global brokers and US-focused trading rules. It was reliable, but not for those seeking the widest global market access.

Accounts

Nadex kept its live trading setup simple. You could open a live Individual Account online in a few minutes, and there was no minimum deposit requirement to start trading.

That differed from many firms we’ve tested, which often require at least $5 but sometimes $250 in the case of brokers like IQCent.

You could fund a Nadex account through debit cards, ACH transfers, or bank wires, and withdrawals return the same way. There was no support for e-wallets like PayPal or Skrill, or cryptocurrencies like Bitcoin or Ethereum, which are increasingly supported by binary platforms we review.

For binary traders who value safety over variety in terms of account options, Nadex’s regulated live account offered a clean, straightforward setup with precise risk control and no hidden costs.

Nadex also offered a demo account that gave you $10,000 in virtual funds to practice. Available without opening a live account, it worked on both desktop and mobile, with full access to all markets. There was no time limit, so you could keep using it even after opening a live account.

During testing, I noticed the demo setup mirrors the live platform closely, showing real market data and order execution flow. Still, it didn’t fully capture live market depth or slippage since there’s often only one demo market maker.

That’s fine for learning how Nadex quotes work, but it could feel slightly different when trading live orders with multiple counterparties.

Markets

Nadex offered a focused set of assets for binary options traders. You could trade popular forex pairs like EUR/USD, GBP/USD, and USD/JPY, which are among the most liquid.

The platform also covered major global stock indices such as the S&P 500, FTSE 100, and Nikkei 225, giving you exposure to broad market movements.

Commodities trading was available but limited mainly to gold, silver, crude oil, and natural gas, with contracts based on futures prices.

All contracts had clear risk limits given their binary construction, which was a plus for newer traders managing their stakes with less guesswork.

Payouts

Nadex had a straightforward payout and fee system. You paid $0.10 per contract to open or close a binary option before expiration, and if your trade expires in the money, there was a $0.10 settlement fee per contract. There was no fee if it expires out of the money.

For call spreads and knock-outs, fees were $1 per contract per side, plus a $1 settlement fee if held until expiration.

Your maximum profit and loss depended on the contract type and when you entered or exited the trade. Payouts could be more than 100%, but your losses never went beyond the money you put in. Since you could only place trades if you already had enough funds in your account, the most you could lose is what you deposited.

Prices came from participants including market makers, but Nadex (the exchange) didn’t trade. This meant pricing primarily reflected real market supply and demand without excessive interference from the exchange. This setup helped manage risk clearly because you knew your max loss upfront and could trade within your balance limits.

This system was fairly unique compared to many binary options firms – losses were capped and payouts were transparent, while market-driven pricing kept trades fair and competitive.

Expiry Times

Nadex listed binary options in 5-minute, 20-minute, 2-hour, daily, and weekly durations. Exact offerings depended on the market:

• Forex: 5-minute (continuous, with wide 5-minute windows mid-day), 2-hour, plus daily and weekly expirations.
• Stock indices: 20-minute and 2-hour intraday contracts, plus daily and weekly.
• Commodities: 2-hour intraday, daily, and weekly.

This breadth of expiry times suited a reasonable range of strategies, however it may not have appealed to ultra-short-term traders looking for contracts that expire after just 5 seconds, and which are provided by firms like Pocket Option.

Equally, Nadex didn’t support particularly long-term contracts, with providers like IQCent offering contracts that don’t expire until 1 month.

Platform

Nadex offered a clean, TradingView-powered platform along with NadexGO for mobile. Both worked in your browser – no downloads required. Trading was centered around three contract types: binary options, knock-outs, and call spreads, each with its own routine.

You selected the asset, strike price, and expiration. You chose ‘buy’ if you thought the market would finish above the strike, ‘sell’ if you thought below. You’d always see the maximum profit and loss before you confirm. You could close trades early or let them expire all or nothing – with payouts defined.

During testing, binary trades executed quickly, and I was able to view all open contracts and manage my positions without fuss. It didn’t support advanced order types, short time frames (e.g., under 5 minutes), or automated tools, but for most short-term binary options, everything you needed was clear and upfront. Navigation was clean, with few distractions.

Knock-outs worked more like a bracket binary. You set upper and lower boundaries – the trade closed if either was hit or at expiry. Profits and losses moved in line with the underlying price, but always stayed within set limits. This style was for those who want tighter control and built-in stops.

Call spreads sat in between. You got a range, and your profit or loss was based on where the underlying finishes within that range at expiry. Risk and reward were still capped, but outcomes weren’t just yes/no – more flexibility, less all-or-nothing than binaries.

NadexGO was the mobile version. It was web-based too – so it worked on most phones and tablets. It kept the focus on quick trading and monitoring. You could place and close trades with just a few taps.

However options for customizing charts or managing complex strategies were limited. If you needed deep analytics or advanced settings, you may have found it basic.

There was no native iOS or App either, so you’d have to use a browser-based version, which wasn’t ideal, although it’s the approach over 90% of binary firms take from our evaluations.

Compared to other binary options platforms, Nadex’s offerings were straightforward and reliable, but not packed with extras. Some competitors offer a wider range of asset types, more timeframes, in-depth research, and mobile apps with integrated trading signals.

Capitalcore, for example, offers 1-tick charts, more geared towards ultra-short-term trading strategies.

Nadex, on the other hand, centered on simple risk controls and clear user flows. That’s handy for beginners, but active traders wanting more tools or automation may have been left wanting.

Payment Methods

Nadex kept deposits and withdrawals straightforward but limited. You could fund your account with a debit card, ACH bank transfer, wire transfer, or paper check if you’re in the US.

In my experience, I’ve found that debit cards are the fastest, with funds appearing instantly and no fees. ACH deposits and bank wires can take up to five business days, depending on your bank. For international traders, options narrowed to debit cards or international bank transfers.

Nadex had no official minimum deposit – you could fund your account with any amount you want, even just $1, after account approval.

For withdrawals, there wasn’t a stated minimum either, but practical limits depended on method – withdrawals by bank wire cost $25 each time, so larger amounts made more sense.

Withdrawals followed a ‘same route’ rule. US traders could withdraw through ACH, bank wire, or back to the same debit card, while non-US clients relied on bank transfers. ACH withdrawals were free but took three to five business days.

Compared to some other binary firms, Nadex’s funding process was safe and well-controlled, but slower and less flexible. That’s the trade-off for working with a CFTC-regulated exchange – tighter money movement rules but far stronger fund security.

Research

Nadex offered limited research tools like webinars, market news, or trading signals that we sometimes see on other platforms.

While the platform included basic charting tools and popular technical indicators such as MACD, RSI, and Bollinger Bands, there was no built-in source of market analysis on the website or directly on the platform.

This meant beginner binary options traders would need to rely on external sources for broader market insights and trading ideas. Nadex’s focus was mainly on delivering a simple, risk-limited trading experience rather than extensive research support.

That could be a downside if you wanted everything in one place, but it did keep the platform straightforward and uncluttered.

Tip: For newer traders, the lack of research tools meant you may have wanted to combine Nadex with other trusted financial news or analysis sites to get a fuller picture of market conditions before you traded.

Education

For educational resources, Nadex provided a glossary to understand key trading terms, an infrequently updated blog explaining basics and strategies, and an equally infrequently updated YouTube-hosted video tutorials (the last video was published in 2022 when we checked).

These resources should help beginners grasp the essentials, but they weren’t as extensive as complete education suites that some brokers offer. This meant new traders may have needed to look elsewhere for deeper trading insights or structured, up-to-date courses.

For beginners and those wanting more guidance, Nadex’s resources were fairly limited. Instead, Deriv has some well-presented e-books that covered various topics, including its trading products and charting patterns.

Customer Support

Nadex did not provide a phone number, multilingual support, or an email contact form for customer service. The primary way to get help was through the live chat feature, which we found to be very efficient and responsive.

It was easy to use and great for quick questions or concerns – during testing, support agents connected within seconds.

While some traders might have missed having phone support or support in multiple languages, the live chat covered the basics well during US market hours.

Email was available but only through a direct address – there was no online form to fill out. That kept things simple but less flexible compared to binary brokers offering 24/7 support or multiple contact channels.

In our testing, the live chat stood out as the best and most reliable way to get assistance.

Should You Trade Binary Options With Nadex?

Trading binaries with Nadex suited those who wanted a clear, regulated environment with capped risk and transparent fees.

However, Nadex may have felt limited if you want more trading variety, deeper research or extensive support options. Its platform is also now closed, with traders moved over to Crypto.com.

Overall, if you preferred strict risk control and straightforward trading under US regulation, Nadex was a solid choice. But if you need more flexibility or global access, other binary brokers might have been a better fit.

FAQ

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