The only retail focused binary options trading exchange which is legally allowed to operate in the US has announced the release of an iPad app complementing its mobile portfolio consisting of iPhone, Android and Windows Phone applications. As the amount of volumes executed through mobile devices is constantly rising, this is a logical step for the Chicago- based exchange. An increased flexibility for traders related to the way they can access the market is a big part of the growth trajectory of the regulated binary options market in the US.
The new addition introduces a convenient way for customers of the exchange to trade on the binary options market. A sleek design provides access to binary options and bull spreads. Above we can see the chart functionality offered by the application strike lines and the order panel.
In contrast to most binary options offerings out there, under US regulatory requirements all binary options contracts prices must be quoted real time, hence Nadex is an exchange. Above we can see an example of the watch lists which traders can create – filtering assets, prices and expiration times.
The filtered searches by binary price range from 0 to 100, orders can be traded directly on charts, while a left-side button brings up open positions, working orders and account balance displays. The application is available for free on the Apple App Store only for US residents, as part of the requirements for having a trading account with the American binary options exchange is to have a permanent address in the US and a Social Security number.
NADEX’s CEO, Timothy McDermott, stated in the announcement: “As active traders continue to migrate towards mobile devices for all of their daily activities, providing access to the exchange through the iPad was the logical next step for Nadex. The app provides traders access to all the contracts they are used to finding on the Nadex platform, paired with the ability to trade on the go.”
Activity through the app channeled to the Nadex exchange is subject to regulatory oversight by the CFTC and is secured by 256-bit SSL encryption technology.