Nadex
Nadex
Table of Contents
Nadex Review 2026
This Nadex review examines the North American Derivatives Exchange (formerly HedgeStreet), a U.S.-regulated marketplace for trading binary options, call spreads, and knock-outs. The broker relies on its own web platform and the NadexGo mobile app, a popular choice for on-the-go traders.
Overview
Tradable markets focus on four groups: Forex, commodities, equity indices, and economic event contracts.
Headquarters: United States. Regulator: Commodity Futures Trading Commission (CFTC). Tier-1 Oversight: Yes. Public Company Ownership: No. Founded: 2004. Execution: Market maker. Minimum Deposit: $0. Negative Balance Protection: Yes. Platforms: Proprietary, web-based. Minimum Forex Commission: $2 round trip per contract. Islamic Account: No. U.S. Clients: Accepted. Managed Accounts: Not offered. While you can open an account with $0, you still need enough available balance to collateralize trades; Nadex also references $250 as a practical initial funding amount for live trading.
Regulation and Security
Nadex is authorized by the CFTC, providing U.S. market access under stringent supervision. Client funds are segregated from company money and held at BMO Harris Bank and Fifth Third Bank, reinforcing a secure operating environment in a sector where strong governance matters. Nadex is a legitimate, CFTC-regulated platform (not a scam) and remains operational as of 2026.
The exchange functions under direct CFTC supervision.
Client balances are kept separate from Nadex corporate accounts at BMO Harris Bank and Fifth Third Bank.
Fees and Commissions
Deposits and withdrawals via ACH are free. A $25 fee applies to outgoing bank wire withdrawals. Processing times and any deposit/withdrawal limits depend on the chosen method and the payment provider, and third-party fees (including potential currency conversion costs) may apply outside Nadex’s stated charges.
Call Spreads: $1 per contract to enter or exit, plus $1 per contract at expiration.
Inactivity: $10 per month after 12 consecutive months of no activity if the account still holds funds.
Minimum Forex Commission: $2 round trip per contract. ACH withdrawals carry no Nadex fee, while wire withdrawals cost $25.
Binary options cost $1 to enter and $1 to exit early. Contracts settling in the money add a $1 settlement fee; out-of-the-money outcomes incur no settlement charge. Spreads and knock-outs follow the same $1-per-contract pricing, with a $1 settlement fee at expiry regardless of result. The minimum tick size for spot Forex is 0.25, translating to a tick value of $0.25 for binaries and $1 for call spreads and knock-outs. An inactivity fee begins after 12 months. Overall pricing is competitive and clearly disclosed on the website.
Trading Hours
Options sessions run from Sunday at 18:00 through Friday at 15:00.
What Can I Trade?
Market access spans Forex, commodities, indices, and event contracts. Contract specs list 11 currency pairs with up to 10 expiries depending on whether you trade binaries, call spreads, or knock-outs; 7 commodities with up to 3 expiries; 8 indices with as many as 5 expiries; and 4 U.S. event contracts with a single expiry. Examples of Forex markets include major pairs like EUR/USD, GBP/USD, and USD/JPY, while commodities and indices typically cover widely followed benchmarks such as gold and crude oil as well as major U.S. equity index contracts. Forex, commodities, and indices are offered across binaries, call spreads, and knock-outs, while event contracts are offered in an event-driven format. New users can explore all features in a risk-free demo before going live.
Account Types
All clients use a single account capable of trading binary options, call spreads, and knock-outs. The stated initial funding amount is $250, with a $10,000 demo also available. Leverage is not offered. Nadex accepts clients from dozens of countries, and U.S. entities can open accounts as well.
Nadex Demo Account
The demo provides $10,000 in virtual funds to practice strategies, test the mobile app, refine risk management, and build familiarity with the platform. It is accessible via the web platform and NadexGo.
A demo account is most valuable when you rehearse position sizing and trade management, not just platform navigation.
Match your demo balance to your intended live funding for realistic practice. Keep in mind that simulated trading lacks live-market psychology and real execution pressure, which can affect the learning experience. Overall, Nadex can work for beginners thanks to the demo and Learning Center, but the contract-based pricing, expiries, and short-term decision-making can be challenging for brand-new traders.
Nadex Leverage
Nadex does not offer leveraged trading. Instead, its contracts are designed for short-term strategies with fully defined risk shown on the order ticket and no margin calls.
Every trade must be collateralized with 100% of maximum possible loss before execution, so traders cannot lose more than the displayed amount. This structure removes broker exposure to client losses but is less flexible than leveraged alternatives.
Compared with traditional spot Forex, Nadex is a different product: Forex trading is typically margin-based with leverage, floating profit and loss, and broker-driven spreads/commission models, while Nadex uses fixed-risk contracts where your maximum loss is defined upfront and leverage is not part of the setup. Nadex may suit traders who prefer clearly capped risk and shorter-duration setups, whereas traditional Forex may appeal to those who want leverage, broader instrument selection, and conventional position-style trading.
Platform Session Times
Trading generally runs from Sunday 18:00 (EST) to Friday 16:15 (EST). A daily maintenance break occurs Monday through Friday from 17:00 to 18:00. Instrument-specific schedules appear on the website, and U.S. holidays may shorten or shift hours. Notices are posted in advance.
All clients use the same account type. Many evaluate features by comparing the $10,000 demo with a live account.
Residents of numerous countries, listed alphabetically on the site, can apply.
Trading Platforms
Nadex provides a proprietary browser platform and the NadexGo mobile app. The broker offers a brief platform video, additional how-to clips, and FAQs that explain tools and features. Core platform features include integrated charting with common tools and indicators, contract and expiry selection from within the trade ticket, working orders for entering and exiting, and position monitoring that keeps max risk and potential payout visible during order placement. Usability is straightforward, with a clean layout geared toward quick contract selection on web and an interface designed for mobile-first trading via NadexGo.
Third-Party Terminals: MT4, MT5, and cTrader are not supported. Available Platform: Proprietary only. Automated trading, social/copy trading, a depth-of-market ladder, guaranteed stops, and one-click trading are not provided.
Nadex supplies introductory content to help clients get up to speed with its trading interface.
Short tutorials and written guides outline the charting package and core workflows.
NadexGo targets mobile users and is especially popular with younger traders.
Unique Features
Notable advantages include backing by Singapore-based and a rich menu of contract types despite a focused market list. The lineup supports flexible, short-duration trading, and the exchange also offers 15 event-driven instruments for trading around key fundamentals.
The event contracts include:
- Nonfarm Payrolls
- Initial Jobless Claims
- U.S. Unemployment Rate
- U.S. GDP
- CPI (Headline)
- CPI (Core)
- CPI: Food at Home
- CPI: Food Away From Home
- New Home Sales
- Corn Yield
- Soybean Yield
- Retail Sales Change
- Crude Oil Inventories
- Natural Gas Storage
- Federal Reserve Balance Sheet (Total Assets)
Research and Education
Nadex runs an active blog with market commentary, trading ideas, and occasional promotional updates. Live webinars for beginners are hosted once or twice per week at noon EST and last about an hour. The Learning Center blends FAQs, short videos, and articles to help new traders level up.
The blog publishes a steady stream of well-structured educational content.
Regular webinars provide practical instruction and platform guidance.
Customer Support
Support channels include live chat and email. Operating hours are not disclosed. The website is available in English, and regulatory disclosures include the firm’s physical address and trading hours.
Bonuses and Promotions
Nadex offers a 10% first-deposit bonus capped at $100. A referral program pays $100 per qualified friend, up to 10 referrals, subject to terms and conditions. The broker also runs occasional free demo contests with real cash prizes for eligible U.S. residents (Rhode Island excluded).
The initial deposit incentive stands out where many EU brokers offer none.
The refer-a-friend promotion pays up to $1,000 across 10 qualifying referrals.
Occasional demo trading competitions award real-money prizes.
Opening an Account
New users complete a five-step online signup. As a CFTC-regulated venue, Nadex must verify identities and may request documents before activation.
Deposits and Withdrawals
Funding and payouts are limited to bank rails and cards to minimize fraud risk—typical for U.S.-regulated firms. Processing times and any third-party costs depend on the payment provider, and bank fees or currency conversion charges may apply outside Nadex’s fees.
| Method | Availability | Processing Time | Fees | Notes |
|---|---|---|---|---|
| Debit cards (deposit) | U.S. and international | Immediate | No Nadex fee | Nadex may require cardholder verification before permitting withdrawals. |
| Paper check (deposit) | U.S. only | Up to five business days for clearing | Not stated | Mail-in deposit. |
| ACH bank transfer (deposit) | U.S. only | Typically within one business day; up to five business days | No Nadex fee | A five-day hold applies to withdrawals for newly ACH-funded balances. |
| Wire transfer (deposit) | U.S. and international | Domestic within 24 hours; international 1–5 business days | Not stated | Timing depends on banks, location, and any intermediaries. |
| Debit cards (withdrawal) | U.S. and international | Not stated | Not stated | Limited to the original deposit amount via card. Daily limits typically range from $10,000 to $50,000. U.S. clients can withdraw excess funds via ACH or domestic wire; non-U.S. clients via international wire. |
| ACH bank transfer (withdrawal) | U.S. only | 3–5 business days | No Nadex fee | Nadex may request proof of account ownership. |
| Wire transfer (withdrawal) | U.S. and international | Handled same day if received before 16:15 (EST) Monday–Thursday or 15:00 (EST) Friday; otherwise next business day. Delivery generally takes 3–7 business days. | $25 processing fee | — |
Summary
Nadex delivers exchange-style trading in binary options, call spreads, and knock-outs on a proprietary web and mobile platform under CFTC oversight. Pricing is straightforward—$1 per contract to enter or exit, with a $1 settlement fee on profitable binary outcomes and the ability to close trades early to manage risk. The product range, recurring webinars, and clear educational resources make the offering compelling, and promotions add further appeal for qualifying users.
Can you make money with Nadex? Profits are possible, but they are not guaranteed, and trading outcomes depend on market movement, your strategy, and execution skill. Losses are also possible, so traders should approach Nadex products with clear risk limits and an understanding of how expiries and pricing affect results.
