[12/11/2021] Crypto.com is acquiring Nadex (news link), so if you’re interested in this $200 offer, act fast. HT. DOC

Nadex is an online trading platform that is currently offering a $200 bonus for new accounts. Trading involves risk. This post does not introduce Nadex or trading itself; it only explains how to earn this $200 bonus with relatively low risk. This article is compiled from the relevant DOC post and comments.

Signup bonus

The $200 signup bonus is broken down as follows:

  • Open an account using my referral link (https://join.nadex.com/refer-a-friend/?QPID=raf6442c20aokvd) and complete 5 trades within 30 days of opening the account to get $100
  • Deposit $1,000 in a single transfer and complete 5 trades to get $100 (these 5 trades can be the same 5 trades from the previous requirement)

Opening the account and funding it

The whole account-opening process is very simple. In the end, you will be asked to upload your SSN, after which the account will be officially approved. Although SSN is required, there will be no credit check.

After opening the account, you can fund it using an instant debit transfer. On the website, choose “Add Funds” under “Account” near the upper right. I used a Point Debit Card, although Point does not offer 1% cash back. Note that the requirement is to deposit $1,000 in a single transfer; I transferred $1,001 and that does not count toward the $1,000 requirement.

Specific steps

The basic idea is to deliberately lose $2–$4 on each trade, doing this 5 times for a maximum loss of $20. But by meeting the signup-bonus requirements this way, you can get $200 and end up with a profit of $180+. If you’re experienced with trading, you can also study the details yourself and try to make money on each trade while still collecting the $200 signup bonus. Of course, trading involves risk, and that is not what this post is trying to discuss, so please assess the risk yourself.

Step 1: In the “setting” menu at the lower left of the page, set it to "limit"Step 2: In the upper left of the page, select “Market,” then under “Binary Options” click “5 Minute” in “By Duration.” This is a trade that expires in 5 minutes.Step 3: Select “Forex” and then pick any currency pair. In the example below, “AUD/USD” is selected. The 2m 10s shown in the image is the countdown to the trade’s expiration. The blue number is the purchase price. Here, choose the lower number in the blue column and click it; generally anything under $4 is fine. This is also the price you choose to deliberately lose. The price changes as the countdown runs, and the lowest price seems to be around $2.25, though you may not always be able to wait for it. (Note: My understanding is that you are basically betting on how exchange rates will move over the next 5 minutes. If you guess right, you win; if you guess wrong, you lose. What I’m describing here is deliberately losing a small amount to reduce risk.)Step 4: The interface on the right side of the page will look like the screenshot below. The dark-blue “Buy” section shows the purchase price; in the example below it is $3.75. Make sure the Order Type is "LIMIT GTC". If you followed Step 1, it should already default to "LIMIT GTC". Also make sure the red Max loss is a small number you can accept; in the image it is 3.75. This price can also change before you click "Place order," so you can wait for a lower price. Also confirm that Size is 1. After confirming all of that, click "Place order" and then wait for the countdown (1m 26s in the screenshot) to finish.Step 5: After completing Step 4, the purchase may still fail with some probability. If the purchase fails, there is no loss. If the purchase succeeds, you will receive an email after the countdown ends. You can also view the trade by selecting “History” under “Account” at the top of the page, as shown below. Note that each trade will have two records. You can also confirm the amount lost under “Available Balance” at the top of the page; it should be the Max loss from the previous step.

Step 6: Repeat Steps 2, 3, and 4 four more times. That completes the requirement for 5 transactions.

Bonus payout

The signup bonus will be paid out in the month after you complete the requirement. I completed the requirement at the end of September and received the $200 bonus on 10/8. If you open an account now, you might still be able to complete all the requirements by the end of October and receive the bonus in early November. Otherwise, if you complete the requirement in November, you will have to wait until early December for the bonus to be paid out.

Conclusion

Nadex’s $200 bonus is still very easy to get. It is not like a credit card signup bonus that affects your credit record, or a bank account bonus that affects your Chex Systems record. The whole process is also quick and simple. However, if you want to research how to use Nadex for trading on your own, it will definitely take time and involve risk! Interested readers may want to give it a try.

My referral link: https://join.nadex.com/refer-a-friend/?QPID=raf6442c20aokvd