Nadex, short for the North American Derivatives Exchange, is a regulated online platform for trading binary options, spreads, and call spreads. It is a subsidiary of IG Group, a global leader in online trading. Nadex offers a wide range of markets, including forex binaries, which are a popular choice among traders due to their simplicity and flexibility. In this article, we will explain how to add forex binaries on Nadex.
1. Register for a Nadex account
The first step to trading forex binaries on Nadex is to register for an account. Nadex is available in the United States, Canada, and other countries. The registration process is straightforward and requires you to provide your personal information, including your name, address, and email address. Once your account is approved, you can fund it using various payment methods, such as bank transfer, debit card, or ACH.
2. Select the forex binary you want to trade
Once you have funded your Nadex account, you can start trading forex binaries. Forex binaries are binary options that allow you to speculate on the price movements of currency pairs. Nadex offers a variety of forex binaries, including major currency pairs such as EUR/USD, GBP/USD, and USD/JPY. You can select the forex binary you want to trade by clicking on the “Markets” tab on the Nadex platform and then selecting “Forex.
3. Choose your expiry time and strike price
After selecting your desired forex binary, you need to choose your expiry time and strike price. The expiry time is the time at which the binary option expires, and the strike price is the price at which you agree to buy or sell the currency pair. Nadex offers various expiry times, ranging from five minutes to one week. You can choose the expiry time that suits your trading strategy.
4. Place your trade
Once you have selected your expiry time and strike price, you can place your trade. Nadex offers two types of binary options: buy and sell. If you believe that the price of the currency pair will rise, you can buy a binary option. If you think that the price will fall, you can sell a binary option. The amount you can trade is limited by the size of your account and the margin requirements set by Nadex.
5. Monitor your trade
After placing your trade, you need to monitor it until it expires. Nadex offers real-time market data and charts that allow you to track the price movements of the currency pair. If your trade expires in the money, you will receive a payout based on the payout ratio set by Nadex. If your trade expires out of the money, you will lose your initial investment.
In conclusion, trading forex binaries on Nadex is a simple and flexible way to speculate on the price movements of currency pairs. To add forex binaries on Nadex, you need to register for an account, select the forex binary you want to trade, choose your expiry time and strike price, place your trade, and monitor it until it expires. Nadex offers a regulated and transparent trading environment, making it a popular choice among traders around the world.
