NenX is mobile-only binary options broker, that allows traders to make fast, simple bets on the global markets.
NenX’s offering seems quite limited – both regarding the trading platform and the trading options. Its clients can use only Call/Put options with expiry times ranging from 60 seconds to 5 minutes, however the trading conditions appear to be fairly attractive. More importantly, unlike many other binary brokers, this one is regulated.
NenX is a brand name of Gametech (Cyprus) Ltd., a registered Cyprus investment company, licensed and regulated by Cyprus Securities and Exchange Commission (CySEC).
The Cypriot financial watchdog requires Cyprus-based brokers to hold a minimum of €730 000 as a proof of financial stability. Besides, all CySEC-regulated companies are members of the Investor Compensation Fund, which may cover investment loss to a maximum of 20,000 EUR per person if the broker becomes insolvent. Such compensation schemes serve as an additional guarantee to clients’ funds.
Additionally, every CySEC- regulated broker is also entitled to offer cross-border services within the EU under the MiFID regulations.
Nenx is part of a mobile app developer in the gaming sector called Gametech. Gametech UK Limited is licensed and regulated by the Gambling Commission Gambling and betting activities.
Trading Options: Call/Put, 60 seconds
Assets: Currencies, Stocks, Indices and Commodities (Bitcoin included)
Expiry Times: 60 seconds, 2 minutes, 5 minutes
As you can see, popular trading options such as long-term Call/Put, One Touch, Ladder and Pairs are not available with Nenx.
Also, keep in mind that 60 seconds are not available with most stocks.
Minimum Initial Deposit
The minimum initial deposit for clients of NenX is just 10 EUR/USD, which is a low initial amount. Most binaries brokers require $100 – $200 from traders as a start. For instance, another CySEC regulated broker – AnyOption – demands an initial amount of $100.
NenX offers high payouts, reaching 92%. In comparison, with AnyOption returns vary from 61% to 81%, however clients of this broker also get refund on losing trades of up to 25%.
NenX mobile applications for iPhone/iPad and on Android devices are quite intuitive and easy to use. It offers short-term binary trading on the markets of your choice and customer service is available directly through the app. Sadly, there are no analytical information or indicators, which would be ble to help traders make their decisions.
NenX offers various types of bonuses, which may be offered upon the sole discretion of the company – Registration and Account Activation bonus, Deposit bonus, Loyalty bonus, Special Event bonus, and other.
Typically, the broker provides 100% welcome bonus (up to €200) which is provided for trading purposes only and cannot be withdrawn. To withdraw the proceeds from such a bonus one has to meet the wagering requirements, i.e. to trade binary options of 10 times the amount of the bonus plus the deposit amount.
Methods of Payment
There are several payment methods available to NenX’ clients: Credit cards (Visa), and e-payments Skrill, Neteller & PayPal.
Gametech (Cyprus) Ltd does not charge any fees for deposits or withdrawals.
As more and more people prefer to trade on the go and as easily as possible, NenX offers solely iOS and Android applications with simple, limited trading options. Its trading conditions seem quite good and more importantly, the broker has a CySEC license.
NenX Review Conclusion
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