Nadex.com Review

2.287 • 11 REVIEWS
Updated: Jan 21, 2024
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2.287 • 11 REVIEWS

Recent User Reviews of Nadex.com

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trader_joe
New York, USA,
Oct 10, 2021,
Guest

100% SCAM; HIGHLY UNETHICAL AND MANIPULATIVE

Service use: Live Length of use: 6-12 Months
They are 100% a scam. I started trading with them when I got interested in options trading (originally I traded stocks). After a few weeks, I made about $4,000 in profit -- that's when the trouble started, the platform would freeze unexpectedly for 5-15 minutes when I placed a trade; of course, those trades ended up losing money. Within a few days, I was losing money: 1) because the effect of the platform freezing when in the trade is psychologically impairing as you don't know when you will be kicked off the platform, 2) whatever methodology I was using before that was profitable was now a high stakes risk, 3) their profit is my loss. It is my opinion that Nadex manipulates their customers psychologically in order to make a profit, and they don't care how much money you lose, or do they take any responsibility for that manipulation. Their claims of being regulated is true, but you have to read the fine print; because they are not responsible for their platform freezing even if they freeze the platform on purpose when you are profitable. They are highly unethical, and will manipulate you into losing money even if you are profitable. I would stay away from them... I would run for the hills... these people are predators and will eat you alive.
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JOSMITH
WA, USA,
Mar 5, 2020,
Registered user

You can't withdraw your fund.

Service use: Live Length of use: over 1 Year
I can't withdraw my money $412.50 from my account. They want verify my debit card, but my checking account was closed 2 years ago (that debit card doesn't exist). Bank has my statement only in branch in Vermont. I am living in Washington State that why I can't go and take statement from that branch. Branch refused to send this statement because they don't have recorded line. Nadex didn't want verify card when they were getting money, but now they refused to give me my money. I verified all information, but I didn't receive anything. Nadex stays that their policy like this. I asked that why they didn't verify before I paid them? They sad they will take all money and don't care about verification (they have policy like this).
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trustyct
Rome, NY, USA,
Feb 18, 2020,
Registered user

DO NOT USE NADEX AS YOU WILL LOSE ALL YOUR MONEY GUARANTEED

Service use: Live Length of use: over 1 Year
Even Apple iOS app Store kicked this so called trading broker off their platform. I’m in full agreement with the BBB complaint posted on BBB.com
on 4/5/2019 about Nadex. I’ve been a Binary Options and Forex Trader for nearly 20 years and have NEVER seen such level of “bait and switch” and misleading tactics played on innocent traders wanting to learn more about Nadex in Demo and then opening a Live account. In Nadex Demo, platform and its data is made to fall in favor of the trader making the trader confident that he or she can easily make money in Nadex once they go live. For example, in the 5 minute expiry binaries, the demo allows you to enter a position well in the “strike price” so your chances of winning (falling in the money) is extremely high and in your favor. But then, if you switch into the Live mode and Nadex has your money, the “well in the money” positions are not offered any longer and not even attainable thus the leverage falling well into the favor of the broker as now your chances of expiring “in the money” is dramatically changed. Also, as the BBB complaint also stated on 4/5/2019 that was extremely correct, why does Nadex block out the last 30 seconds remaining in your trade? You are prevented in seeing the current price of the trade you entered nor are you able to see how your trade is doing to be able to get out of the position if needed. I also strongly believe the last 30 seconds of the trades that the Trader is disallowed from viewing is the opportunity for Nadex to manipulate the data/price. Why does the Nadex price feed differ so much from the liquid Forex market real data on MT4 that as a professional I cross reference? If that’s not the case then what is the excuse? Nadex is NOT a trading platform but more of a gambling site. Don’t give me all the nonsense that you are approved by “such and such. “ If you were so legit you would not play “bait and switch” completely changing the game from demo to live account and placing a wool over people’s eyes in the last 30 seconds of their trades if you were fully legit and transparent. Can you imagine blocking out access to a trade (last 30 seconds before it expires) exactly when a Trader needs the most access and info to exit a trade if he or she needs to? Why in the world would you also block the view of the current trade price? Is there something to hide or manipulate on your end? I want my money back or I will escalate this “gambling site” to my attorney general and the FTC. You CANNOT play “bait and switch” by teasing traders on Demo by making the platform work in their favor to get them hooked and when they go live reverse the strategy completely. So what’s the sense of Demo if the Live is totally a different beast? Market manipulation is ILLEGAL! I’m a Forex Trader and the MT4 platform in Forex Demo and Live is 99% the same. You need a clear disclaimer that your Demo is Trader friendly as of Live is Nadex (house money) friendly. It’s as if your are asking people to test drive a car and then once the person buys the car it operates completely different. Do you think that’s fair? Why do you have people Demo and learn the platform to test the product when going live is a completely different system and strategy? Who are you kidding? The BBB complains on the BBB links below on 4/5/2019 and 6/20/2018 were 100% correct. Bait and Switch marketing is NOT legal in the USA. https://www.bbb.org/us/il/chicago/profile/commodity-trading-advisory-service/nadex-0654-88482096/complaints AND https://www.bbb.org/us/il/chicago/profile/commodity-trading-advisory-service/nadex-0654-88482096/customer-reviews
3 traders have found this review helpful
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Blueracksnacka
Orlando, USA,
Feb 10, 2020,
Registered user

Demo great , live is a total scam , they profit skim

Service use: Live Length of use: over 1 Year
Same trade on the demo that is the correct winning trade may be worth 30- 40 bucks like its suppose to , on live trading it may be worth .25 cent or a dollar , big time scam as soon as you put money into this platform you might as well throw your brain away and flip a coin its a scam i believe some people do get lucky but it surely is a scam . Live is where they are totally scamming. the demo is great. Great learning platform but horrible manipulating on live platform . If you win the dollar trade they prolly win 35 dollars , when you loose you loose like 100 everytime its not a fair trading platform period . They owe me like 3 grand . My demo acount is in the $300,000's. But the winning bets were worth 30 of every 100 not 1 dollar off every 100 dollars like the live account they have , any advice on how to get my money back would be nice , dont use nadex . Td Ameritrade is legit . Thank you for your time
1 trader has found this review helpful
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pipsbuster
Riga, Latvia,
Jan 4, 2019,
Registered user

Nadex owners are on the other side of your trades

IG Group which owns Nadex also takes the other side of its clients’ trades via Nadex’s liquidity provider Market Risk Management Inc owned by IG Group Holdings Plc. It makes profit when they lose and loses to them should they win. It is therefore interested in them losing.

Nadex also discontinued offering API (application processing interface) for automated trading two years ago for an undisclosed reason. Only manual trades can now be placed on Nadex - an unheard situation on a modern regulated US exchange. At the same time, their aforementioned liquidity provider Market Risk Management Inc continues to enjoy FIX API access as a Nadex member, which puts other Nadex members in an unequal position.
3 traders have found this review helpful
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Ezeetrader
USA,
Nov 17, 2017,
Registered user

i played about a week with their system of trading and figured out that they need much faster excution system for 5 min forex binary option trading. It takes almost 20 to 30 sec. to get an excution for market or limit order if it fills but if it is not then i have to spend another 10 or 15 sec to do another order... which means it takes about 1 min to do all... and as you know, the market will not wait for me to get in with my price range that i like cuz it is a fast moving market.... ofen times, i could not get a right price that i wanted to get in with... so end up losing pretty much every trade. Yah, for hourly and daily or weekly, i don't think the time matters for excution but for short period trading, every sec means very important cuz your profit will be in lost evey sec..
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philstodd
chicago, USA,
Sep 26, 2017,
Registered user

might be ok but business practices and customer support suck

ive been trading nadex on and off for awhile. i havn't been successful and lost hundreds of dollars. cant say it's their fault but one thing that bothers me is i asked for a reload on a demo account and they told me it would take 2 business days. that is the biggest croc of sh** i ever heard of. Take hundreds of real dollars at any time but a reload on a demo takes 2 business days??? sounds shady. i will wait though. posting so everyone knows how they operate. also remember this was my first reload also. POOR BUSINESS PRACTICE.
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irongoose
USA,
Jul 22, 2017,
Registered user

My experience with Nadex was good and putting money in and taking money out was fast and easy and didn't cost me anything . They are regulated by The CTFC. There is no reason for someone in The US to try and trade binaries with a foreign broker with Nadex in The US. Plus Nadex provides you with the proper tax form at the end of the year.
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The One
Everywhere, USA,
Dec 2, 2016,
Guest

nadex is legit

Probably one of the only legit binary brokers that even exist, If you want to gamble on the markets thats one thing. But do yourself a favor don't gamble with a "broker" running with your cash. With nadex offereing REAL options, there is NO reason to even attempt to use other "brokers" I feel with nadex your deposit are safe and you can focus on your trades, instead of worrying you've been had.
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Darrell Martin
Fort Worth TEXAS, USA,
Nov 5, 2015,
Guest

Ive been trading on Nadex for years. They are a solid exchange not a scammy bucketshop broker. I have zero issues with deposits or withdrawals for getting trades filled.