It's not. Hedgestreet was bought by IGMarkets. It's a white-label of their UK and USA IG platform: www.igmarkets.com/fx
http://www.nadex.com/trade/nadex.html The North American Derivatives Exchange Nadex, Inc. is a retail-orientated exchange offering simplified derivatives contracts on the world's markets. Nadex is subject to regulatory oversight by the CFTC. Nadex, Inc. Nadex is based in Chicago. We are pleased to welcome both individual traders and corporate partners. Nadex, Inc. 311 South Wacker Drive Suite 2675 Chicago, IL 60606 (more...) <b>Until June 2009, Nadex was known as HedgeStreet.</b> Affiliated Entities Nadex, Inc. is part of IG Group, a FTSE-250 company with headquarters in London. Market Risk Management, a Delaware corporation and a 100%-owned subsidiary of IG Group, is a market maker on the Nadex exchange. As a member of the exchange, Market Risk Management is subject to all Nadex rules. Other parties interested in becoming a Nadex market maker are invited to contact us.
What part of "bought by IG Markets" was confusing? The platform is 100% IG Markets code, they retained none of the Hedgestreet [dis]functionality. They bought HS to clear US regs to trade US index product. They already were dealing OTC FX on the same platform. The platform is identical to this: www.igmarkets.com/fx
<b>Until June 2009, Nadex was known as HedgeStreet</b> what part of this is confusing? taken directly from Nadex site. surf
I stated, before your comment, that IG bought them. It bears zero-resemblance to the original firm. They bought Hedgestreet's regulatory pass, not the platform. You stated it was "rebranded" hedgestreet. It's not hedgestreet under a different name. Rebranding implies retention of functionality, which is not the case with nadex.
interesting, but the rebranding term is from their press release, i believe. http://www.google.com/search?q=nade...UTF-8&oe=UTF-8&sourceid=ie7&rlz=1I7ADBS_en-US
Does anyone know if they issue a 1099 at the end of the tax year? Or do they operate like the forex shops where the burden is on the taxpayer to report and document the gains and losses? Thank you, gotta_trade
As quoted from the front page of Nadex: "HedgeStreet becomes Nadex, the North American Derivatives Exchange. New name, new site, new products, new platform. " Do have a demo and unfunded live account, but do not have any real thoughts yet. I think I recall reading about 1099's being given.