Trading binary options is still a relatively new concept in the USA, but it’s becoming an extremely popular alternative to investing in currencies or shares using traditional methods. The Securities and Exchange Commission approved this kind of option in 2008, at which point the American Stock Exchange and the Chicago Board Options Exchange allowed binary options trading to commence. To keep investors protected from disreputable companies and to safeguard their funds, the US government has devised two institutions; the National Futures Association and the Commodity Futures Trading Commission.
In order for a broker to count as US-friendly there are a few features their platform should include, these are; the option to make deposits and withdrawals from the US, the ability to deposit and trade in US Dollars, and access via a mobile and web based platform. The best brokers will also provide investors with a great customer support team, demo accounts to sharpen up their skills and educational materials to encourage further learning. If you are hoping to trade with a US platform, the the most reputable is Nadex, however, there are many other reliable and regulated binary options brokers which serve the USA despite being based offshore.
Recommended Broker for US: Nadex
A trading exchange that’s regulated by the Commodity Futures Trading Commission and takes on US citizens, Nadex has one base in the US and another in London. You can open a demo account for free to get a better feel for the site, and then go for a full account with a minimum deposit of $250. The lowest trade Nadex accept is $1 and you can also bag up to ten days of free trading if you deposit $10,000, alternatively it’s eight free days for deposits of $5000, six free days if you deposit $3000, four free days for $1000, and two free days if you make an initial payment of $500. The mobile app is well-conceived and caters for both Android and iOS users; it provides access to real time prices and enables active traders to react quickly to movements in the market.
The learning centre is packed with free resources that promote a deeper understanding of binary options, you can choose to start learning in one of four different areas; Nadex, Binary Options, Nadex Trading Strategies and Nadex Spreads. There are also regular webinars for account holders to attend; these cover topics like; using the platform efficiently, and making a profit.
At Nadex you can trade on indices, commodities, currencies and even specific events, like rate rises. The platform is well set out, with access to the exchange, global markets and plenty of useful trading tools. To begin, you simply select an asset, then an expiry time – once that’s done, you just watch the market window to see whether you finish in the money or not. US residents can top up their accounts using debit cards, Automated Clearing House transfers and wire transfers, but ACH is not available to overseas members. Wire transfers generally cost $25, but the other options are free above $5000, and are usually processed within one working day.