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Nadex's Dan Cook (Director of Business Development) - Ask Me Anything (AMA)


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Nadex's Dan Cook (Director of Business Development) - Ask Me Anything (AMA)

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  #1 (permalink)
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Manta, Ecuador
 
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Dan Cook, Nadex Director of Business Development, will be monitoring this thread so that he may answer any questions you have about Nadex, the contracts or the trading platform.

Please keep in mind that account specific questions, for security purposes, will not be answered on this thread, but should be directed to Nadex Customer Service by phone at 877-776-2339 or email at customerservice@nadex.com.

About Nadex
The North American Derivatives Exchange, Inc. ("Nadex"), is the first and largest US-based exchange designed specifically for the active, individual trader to trade binary options, call spreads and Touch Brackets. Based in Chicago, Illinois and regulated by the CFTC (Commodity Futures Trading Commission), Nadex was founded on the idea that the financial markets should not just be accessible to large institutions and banks, but open to the broader public to speculate on the most popular markets in a sensible way. To fulfill this mission, Nadex has lowered the financial barrier to entry by providing smaller size, defined risk contracts based on stock index futures, currencies and commodities markets.

About Dan Cook
Dan Cook is a 20+ year veteran of the financial markets. Over the years he has worked in several different capacities as a trader, trading coach, market analyst, and over the last 8 years, as Nadex Director of Business Development. During his time at Nadex one of the key focal points of his role has been to enhance Nadexís educational offerings to members, with the primary goal of providing the best tools and education to increase the probability of success for traders.

Feel free to ask any questions below and we will do our best to answer as quickly as possible.

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The futures io "AMA" (Ask Me Anything) series is by invitation only.

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Hi @Nadex Dan,

Glad to have you here. I think a good starting point is to reference the existing webinar you've done for the community here:



And to ask a basic question -- are there any regions that Nadex cannot open accounts for? We have a lot of members worldwide, and this is a common question.

Mike

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Hi @Nadex Dan,

I have been using your platform for a while. I love using the mobile version. it is well laid out and easy to use.

Suggestion: It would be nice to have a report which shows profit/loss per trade instead of the final payout. So if I close a trade out for a 25 dollar gain, then show the 25 dollars instead of the exit price. If this already exists, please let me know where I can find it.

It would also be helpful to have the actual profit within the email. In the attached example, it shows the final payout when the option expired. What would be helpful is to see the a line with the profit of 38.00 dollars.

Thanks!
Robert


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I believe this is due to compliance/rules, right Dan?
K

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Hi Mike, that is a great question and thank you for asking. In addition to the United States, Nadex accepts applications from 41 different countries. In the image below you can see a list of these countries; however, since they can change from time to time, it is always best to reference this page on the Nadex website which is always updated with the latest information: https://www.nadex.com/why-nadex/account-types/?qpid=FUTURESIO&qppid=4


Dan Cook
Nadex Director of Business Development

DISCLAIMER: Trading on Nadex involves financial risk and may not be appropriate for all investors.
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Silver Dragon View Post
Hi @Nadex Dan,

I have been using your platform for a while. I love using the mobile version. it is well laid out and easy to use.

Suggestion: It would be nice to have a report which shows profit/loss per trade instead of the final payout. So if I close a trade out for a 25 dollar gain, then show the 25 dollars instead of the exit price. If this already exists, please let me know where I can find it.

It would also be helpful to have the actual profit within the email. In the attached example, it shows the final payout when the option expired. What would be helpful is to see the a line with the profit of 38.00 dollars.

Thanks!
Robert


Hi Robert, thank you for your comments regarding NadexGO, the mobile version of our trading platform. I am glad you find it well laid out and easy to use. I would love to take credit for this, but it was really a team effort between a great group of developers and, as importantly, feedback from our members who have helped, and continue to help, us design the trading experience. With regard to your suggestion/feedback, this is something we are working on. I donít have any firm time frames; however, I was in a meeting last week discussing improvements to the statements and order history which would allow traders to much more clearly identify the outcomes (P&L) on specific trades and across markets. This is part of a larger effort which is going to result in some really cool things coming to our members over the next several months, but more details on that at a later date. Thank you again Robert!

Dan Cook
Nadex Director of Business Development

DISCLAIMER: Trading on Nadex involves financial risk and may not be appropriate for all investors.
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Columbus
 
 
Posts: 14 since Mar 2017
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My question is will we ever see tighter spreads? I can drive a truck through them at the moment.

 
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I'm sorry if this has been answered some where else. But what is the advantage of Nadex vs lets say Tasty Trade or Think or swim for option trading?

Also, what do you think about programs like https://apexinvesting.com/ that use and market your platform.

 
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Posts: 48 since Jun 2010
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Hello,

I was trade binary options years ago whith Banc Of Binary (scam).. My experience was bad.

My english it's bad , but i would like paste this comment, about NADEX.

"IG Group which owns Nadex also takes the other side of its clientsí trades via Nadexís 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.
"

Thanks.

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