Min. Deposit: $250
Platforms: MT4, MT5, NAGA Web
Found in: 2015
- NAGA Markets Europe Ltd - authorized by CySEC (Cyprus) registration no. 204/13
Min. Deposit: $250
Platforms: MT4, MT5, NAGA Web
Found in: 2015
Naga is a popular Forex Broker founded back in 2015 as a Fintech company that provides access to world markets through decentralized technology along with necessary support so that global investors may gain bigger exposure. With the multi-asset investing app, traders can invest in digital currencies and send money using their own personal NAGA card and payments account.
We found out that the company is established under Cyprus laws and also complied according European legislation allowing access to trade financial markets. Naga offers CFD trading services in Forex, cryptocurrencies, stocks, indices, ETFs, commodities, and futures supporting all major global markets.
Naga is a reliable and well-regulated broker famous for Forex and CFD trading. The broker carries a top-tier regulatory license by CySEC. Naga is a broker with a great range of trading instruments and a very competitive social trading environment. For the Pros, we found that the broker offers advanced trading platforms MT4/MT5. Fees and spreads are comparatively low compared to other brokers. Naga also offers good educational materials and webinars.
In our expert opinion, there are not so many Cons for Naga, just as no 24/7 support, trading limitations in some areas, overnight charges, and also carrying one regulatory license.
|Regulated by CySEC||No 24/7 Support|
|Good Reputation||Overnight Charges|
|Low Minimum Deposit||Licensed by 1 Regulatory Body|
|Wide range of trading platforms||Not Operating in Some Popular Trading Countries|
|Competitive Low Pricing|
|Excellent Education and Research|
|📉 Instruments||Forex, cryptocurrencies, stocks and virtual goods|
|🖥 Platforms||MT4, MT5, NAGA Web, Mobile Apps|
|💰 EUR/USD Spread||1 pips|
|💳 Minimum deposit||$250|
|💰 Base currencies||USD, EUR, GBP|
|🎮 Demo Account||Available|
|📚 Education||Learning courses, eBooks, currency encyclopedia|
|☎ Customer Support||24/5|
Based on our Expert findings, Naga is considered a reputable broker with safe and quality trading conditions. The broker offers reliable services and very favorable trading conditions, also with the lowest spreads, suitable for both beginners and experienced traders.
|Advantages||Trading Instruments||Trading Conditions||Low Deposit|
Naga is a CySEC-regulated broker offering a range of trading instruments with low fees and spreads. fast and reliable execution, and a user-friendly trading platform. However, there are a number of other brokers that offer similar services. Here are some of the best alternatives to Naga:
No, Naga is not a scam. Based on our expert research we found out that NAGA group took all necessary steps to be a fully regulated and transparent firm. So it is not a scam, it is a publically listed company, but also a broker authorized by a CySEC in Cyprus and a technology company operating in Germany.
Yes, Naga is a legit and regulated broker. It holds a CySEC license and is authorized to operate in multiple countries around the world. Also, based on our findings, we learned that Naga offers competitive spreads and a wide range of markets, making it a great choice for experienced traders.
See our conclusion on Naga Reliability:
|Naga Strong Points||Naga Weak Points|
|Regulated by CySEC||Licensed by 1 Regulatory Body|
|Negative Balance Protection||Not Operating in Some Popular Trading Countries|
NAGA is a trademark of The NAGA Group AG, a German-based FinTech company publicly listed on the Frankfurt Stock Exchange (WKN: A161NR | ISIN: DE000A161NR7). Which brings a certain level of stability together with a strong establishment and operational base. Also, NAGA is backed by a Chinese fund FOSUN making it a reliable firm under any circumstances.
In addition, we found out that there is an entity located in SVG which gives global expansion to NAGA service, as long as it is authorized and regulated by European legislation it is considered safe even being registered in the offshore zone.
So together with numerous performance standards and high reliability as a public company, NAGA also complies with its trading service with necessary requirements set by MiFID. As such, traders’ funds are always segregated from the company and are covered by a compensation scheme in case of brokers’ insolvency.
Based on our Expert findings, we learned that by trading with Naga you may access flexible leverage that allows you to control and manage risks better and according to your trading style. However and since Naga is a European broker, the company offering fully complies with ESMA restrictions, therefore, falls under recent updates to use lower leverage levels.
Naga accounts offer Standard, Professional, and Demo accounts, with the same quality performance, support, and comprehensive platform features.
|Easy account opening||Overnight charges|
|Standard and Professional accounts available on MT4/MT5, NAGA Web app|
|Low minimum deposit|
|No hidden fees|
Opening an account with Naga is quite simple. You should follow the opening account or sign-in page and proceed with the guided steps:
Naga offers several ways of financial investments through either manual or automated investing, social trading opportunities, trading of over 800 instruments, etc. Actually, Naga Markets is a publicly listed FinTech company in Frankfurt backed by Multibillion fund FOSUN, which provides transparency over trading processes.
We found out that while trading with Naga the fees start from $1 USD, spreads from 0.9 pips to 1.7 pips, and commission-free trading depending on the account traders select. Therefore, you definitely get very competitive pricing, while the Naga spread is considered to be among the industry’s lowest spreads.
Also, always consider Naga rollover or overnight (swap) fee as a cost, charged on the positions held longer than a day and determined by the direction you trade either selling or buying.
|Fees||Naga Fees||AvaTrade Fees||XM Fees|
Based on our Expert research, we learned that Naga offers low spreads for all traders despite trading account size, so any investor will get better trading conditions. The typical spread for EUR/USD is 1.2 pips, which is considered a good spread among the industry offers. As for other instruments, there could be commission charges for some assets which you will find directly from the platform.
Also while using Social trading all costs and spread of the profit between the master account and copy account will be calculated automatically.
As an example, you may refer to the table below and see the average spread for some currency pairs, as well you may compare fees to another popular broker Pepperstone.
|Asset/ Pair||Naga Spread||Pepperstone Spread||XM Spread|
|EUR USD Spread||1 pips||0.77 pips||1.6 pips|
|Crude Oil WTI Spread||1.2 pips||2.3 pips||5 pips|
|Gold Spread||2 pips||0.13||35|
|BTC USD Spread||20.7||31.39||60|
We found out that withdrawal options at Naga are the same as deposits, including own Naga MasterCard and Bank Transfers. Naga covers all deposit fees whatever method you will use for money transfer. For withdrawals, typically Naga does not waive fees or might be a little amount. You need to check with your payment provider in case there are any charges that might be applicable due to international transfer laws.
Here are some good and negative points for Naga funding methods:
|Naga Advantage||Naga Disadvantage|
|Fast digital deposits, including Neteller, Skrill, PayPal, and Credit Cards||None|
|$250 is the initial deposit amount|
|Multiple account base currencies|
|$0 deposits and $0-$5 withdrawals|
|Withdrawal requests confirmed within 24 hours|
In terms of funding methods, Naga offers numerous payment methods which is a very good plus:
Naga minimum deposit amount is $250, yet each payment method may require a specified minimum amount available for transfer.
Naga minimum deposit vs other brokers
|Naga||Most Other Brokers|
Withdrawal options at Naga are the same as deposits, including own Naga MasterCard and Bank Transfers. Naga covers all deposit fees whatever method you will use for money transfer. For withdrawals, typically Naga does not waive fees, yet you better check with your payment provider in case there are any charges that might be applicable due to international transfer laws.
What is also great as we discover within our NAGA review is a choice between the platform you’re getting. So you may select either MetaTrader4, its newer version MetaTrader5, or use proprietary software NAGA Web platform together with its applications.
|Platforms||Naga Platforms||Pepperstone Platforms||XM Platforms|
If you prefer trading on the Web without installation, the popular choice of MT4 and MT5 supports various devices from the web, desktop, or mobile applications all at your choice.
MT4 and MT5 do not require many words and an introduction due to their world popularity and proven powerful capabilities that remain at your disposal either for manual or automatic strategies. Based on our research, we found out that NAGA trading platform brings you additional capabilities and a truly great balance between a friendly interface and its sophisticated solutions.
NAGA, being a FinTech company made it truly great software that will suit the most demanding appetites accompanied by online support, news streaming, and comprehensive analysis features. While one of the main parts of NAGA’s offering is a Social trading capability, you will find excellent capability for copy trading, which is based on proprietary algorithms defining top traders and leading trades along with numerous bonuses.
Also, we learned that there is a quite great offering performed via Naga Exchange that allows unlimited and commission-free crypto and fiat trading through its biggest social network. So whether you are a professional or a beginner trader, Naga welcomes both with unique opportunities either to copy trades or act as a “master”.
Based on our research, we found out that Naga offers 24/5, 09:00-24:00 EEST customer support. Live Chat Support and e-mail communication are also available while trading in Naga.
See our find and ranking on Customer Service Quality:
|Quick response||No 24/7 customer support|
|Relevant answers||No 24-hour support|
|Availability of Live Chat|
|Availability contact via e-mail|
|International support team|
Based on our Expert research, we learned that Naga offers a wide range of educational materials including the Naga Learn platform for both beginners and professionals, the Naga Blog, Glossary, the Currency Encyclopedia, Currency Converter, and eBooks. There are also some good webinars available about Forex, live market analysis, and more.
Overall, Naga Review shows us a broker with strong technology and development of trading innovation. There are vast investment opportunities either for beginners with social trading or a professional who seeks progressive trading options accompanied by good trading conditions and costs. Together with its regulatory obligation Naga seems a good choice of a brokerage firm to us and could be a pleasant partner in your trading journey too.
Based on Our findings and Financial Expert Opinions Naga is Good for:
No news available.