Press Room

« Back to current press releases

Nadex Signs PFGBEST as Newest FCM Member

PFGBEST grants clients access to CFTC-regulated futures exchange offering a suite of simplified and limited risk products

CHICAGO, December 08, 2010 – Today, North American Derivatives Exchange (Nadex), the first and only regulated retail-focused futures exchange in the United States, announced its newest Futures Commission Merchant (FCM) member, PFGBEST, one of the nation's largest non-clearing U.S. FCMs. This membership permits PFGBEST to offer customers access to retail-sized, limited risk and fully collateralized contracts offered on the Nadex platform.

PFGBEST is the second FCM to join the exchange since Nadex received Commodity Futures Trading Commission (CFTC) approval to allow customers intermediated access through brokers in April, 2010. PFGBEST can now offer their customers access to the exchange’s entire product line of binary and bull spread contracts, including equity index contracts (Wall Street 30, US 500, US Tech 100, Germany 30, Korea 200, FTSE 100®), energy contracts (crude oil, natural gas), currencies (EUR, GBP, CAD, CHF, JPY), metals (gold, silver, copper), and agricultural (corn, soybeans) contracts. PFGBEST clients will also be able to access the following event contracts: initial jobless claims, Fed Funds, European Central Bank rate announcements, nonfarm payrolls and unemployment.

"The benefit for PFGBEST customers is that Nadex’s straightforward contracts are simple to execute, and lend efficiency to individual, online traders," says Yossi Beinart, CEO and President of Nadex. "Our wide range of strike prices and contract lengths will allow PFGBEST clients to participate in futures trading on their own terms. All they need is a view on where the markets (Forex, commodities), major indices and/or economic indicators are heading."

Nadex’s binary contracts are all-or-nothing contracts that pay out a fixed amount to the side of the trade that finishes in-the-money. Nadex’s spread contracts have a variable payout; a trader’s potential loss will not exceed the amount invested, and the potential gain is limited by the contract’s cap (for buyers) or floor (for sellers).

Russell R. Wasendorf, Jr., PFGBEST President and COO, said the innovation is welcomed by PFGBEST and its retail client base. "We are gratified to offer clients access to these contracts, extending their choices of risk management tools and choices of futures contracts that meet their personal trading and investing goals," he stated. PFGBEST has a longstanding reputation of advocacy for market participants by promoting market innovation, transparency, and investor education.

About NADEX

Nadex, headquartered in Chicago, is a wholly-owned subsidiary of the U.K.-based IG Group Holdings, subject to regulatory oversight by the CFTC. Through Nadex, traders can hedge against or speculate on price movements in currency, commodity, event, and equity index markets.

To learn more about Nadex, please visit www.nadex.com. For information on becoming a Nadex member, call 1-877-776-2339 or e-mail Peter.Lee@nadex.com.

About PFGBEST

PFGBEST is one of the largest non-clearing U.S. Futures Commission Merchants (FCMs), with customers, affiliates and brokerage offices in more than 80 countries. A rapidly-expanding global financial services and technology firm, PFGBEST specializes in electronic trading, futures, foreign exchange, options, and managed investments. The company is an industry leader in investor education, offering numerous free webinars each week attended by hundreds of people wishing to further their knowledge and skill in trading, charting, customizing screens, utilizing new technologies, enriching their understanding of trading psychology and many other topics.

At PFGBEST, the Customer Service team is always available to assist beginners with selecting and getting logged on to a platform, making it work for them, and in setting up their accounts in ways that make it easiest for them to assess risk, conduct trades, review their trading results, manage their balances, and more. The Customer Service group can be reached at 888-274-2916 or at 319-553-2172. Contact them via e-mail at customerservice@pfgbest.com.