We received a lot of questions regarding a new mobile-only binary options broker called Nenx. While we didn’t have the opportunity to try it yet, we might say that the offer advertised on the Nenx website looks promising. According to the information we gathered; Nenx is a mobile-only binary options broker available on both iOS and Android devices. The trading application gives traders the opportunity to trade High-Low binary options with maturities ranging from 60 seconds to 5 minutes. One might say that the offer was tailored to fit with short-term traders. Another interesting aspect of Nenx is that it proposes ultra low trading requirements: minimum binary options deposit of only £10 and minimum trade size of only $1. It almost seems to good to be true but maybe the broker was able to cut its fixed cost with its mobile-only trading platform and its reduce binary option types offering.
Nenx is a regulated binary options broker
Nenx is a binary options trading brand operated by Gametech (Cyprus) Limited, a fully CySEC licensed and regulated company (License Number 291/16). Gametech (Cyprus) Limited is itself a subsidiary of Gametech UK Limited, a is a UK registered and based company that is licensed and regulated by the Gambling Commission, reference number 000- 038061-R-319186-006. Gametech UK limited is a trading and gambling platform developer that provides many brokers with its technology but also operates its own trading brands such as Nenx or ProOptions. As such Nenx operates in full compliance with the European and UK regulation rules. The broker holds clients’ deposits in segregated accounts and has to comply with strict processes regarding the security of your funds and the safety of your banking data.
Nenx proposes an interesting trading offer
It is one of the first mobile-only binary options brokers that draws our attention. The Nenx trading application looks really intuitive and the product seems to focus on the user experience for beginners. This kind of application belongs to the “gamification” process currently occurring in the online industry. It seems comparable to the new Bubbles trading application launched by Anyoption in March. Brokers are trying to attract new kind of clients with a fun and easy experience of trading. While we believe this represents an interesting growth opportunity for the industry, we are also worried that some investors may suffer rapid losses.
Trading is not a game, and while we salute brokers’ efforts to give online trading a more fun and intuitive approach, one needs to remember that trading is an investment activity that requires experience and knowledge. If you don’t know anything about financial markets and trading, we highly recommend you to avoid starting trading blindly on any investment product. Some brokers, such as Topoption or 24option, propose extensive education contents to help you learn about this subjects and even propose binary options demo accounts to allow to try these products without any risk on your savings. We believe these kinds of offers are better suited for beginners in financial markets.