Richard Montana | November 17, 2022
NAGA is a social investing network where clients of all experience levels can trade, like, share and copy investments on over 1,000+ trading instruments including CFDs on Forex, CFDs on Commodities, CFDs on Cryptocurrency, CFDs on Shares, CFDs on Indices, CFDs on Metals.
I found NAGA to have very competitive trading conditions including tight spreads, low commissions, rapid trade execution speeds and a variety of flexible account funding options.
You can choose from a selection of user-friendly trading platforms for web, desktop and mobile devices. The platforms are completely free of charge and packed with helpful trading tools along with educational resources to help you with your daily trading activities.
Naga can be great for those who want a copy trading platform to copy the most popular traders whilst learning how to trade themselves.
They enable everyone to trade the global financial markets, invest in digital currencies, and send money using their own personal NAGA card and payments account.
Pros & Cons
- Trade popular Stocks and CFDs across global markets
- Impressive selection of 1,000+ instruments to trade online
- Variety of user-friendly trading platforms
- Advanced charts, price alerts and professional trading tools
- Follow top traders and copy their trades
- Quick & easy account deposit and withdrawal methods
- Low trading fees and competitive spreads
- No fees or commissions on deposits
- Free education with daily webinars
- Professional 24/7 customer support
- Cannot accept clients based in countries that you can find listed on the website
- Small withdrawal fee and minimal withdrawal amount
NAGA are an innovative online broker that offers a multi-asset investing app with an inbuilt social network where you can like, share and copy investments on over 1,000+ trading instruments including CFDs on Forex, CFDs on Commodities, CFDs on Cryptocurrency, CFDs on Shares, CFDs on Indices, CFDs on Metals.
Founded in 2015 by Yasin Qureshi and Benjamin Bilski, NAGA’s mission is to make investing simple and to empower traders around the world to gain fast and easy access to the global markets. I have seen over the years how the company works hard to provide technology, resources, and support for every level of trader.
The large NAGA community allows beginners to increase their trading knowledge whilst the more experienced traders can be rewarded for sharing with others. It is a place where you can interact with like-minded peers, discuss the current market conditions and share results via your own personal choice of group or public chats.
Traders are encouraged to never trade with what they cannot afford to lose whilst there is a selection of smart risk management tools and various educational materials freely available.
The NAGA social trading platform is the base from where you can share their trading experience and invest in others. I found it a breeze to browse the community, view profiles, look for signals, view over 1,000 trading assets, study charts, conduct indepth market analysis and much more.
Each user has a profile page that summarizes trading statistics, shows results percentages, number of auto-copiers and any other significant performance indicators from within the statistics tab. Users can stay on top of posts and network activity through the feed tab. You can monitor upcoming trading objectives and review achieved goals and rewards in the achievements tab.
NAGA messenger lets you share your analysis, keep up with the experience of other traders within the community and invest at the click of a button. You can add friends for direct messaging, create group chats and join themed public channels that are managed by experts.
This modern platform has an easy-to-use intuitive interface to help ensure that you can enjoy a user-friendly experience without any hassle.
You can choose between the NAGA web platform and NAGA app. I like the convenience of the app as it means that I can simply pull my phone out of my pocket and have instant access to the global markets.
NAGA social trading platform features:
- Customised news feed
- Publish, like, comment & share posts
- Copy signals & provide signals
- Get exclusive insights into different markets
- Get the latest market news
- Connect with traders worldwide
- Discover opportunities, see what others are trading & be inspired
NAGA also provide you with the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) online trading platforms. The MetaTrader platforms are well known for being easy to use and containing an abundance of technical indicators to conduct complex market analysis. One of my favourite features of the platforms are that they support automated trading through the use of expert advisors (EAs) and have a large online community where traders share MetaTrader tools. I can run my automated systems without any problems and have done so for many years. There is also a built-in MetaEditor where programmers can create their own bespoke trading tools.
MetaTrader is available to download for desktop or as a web platform that runs in most modern web browsers without needing to download or install any additional software. There are also the MetaTrader mobile trading apps that can be used if you want to trade whilst on the go on your Android and iOS devices.
Some of the key MetaTrader features that you can get access to include:
- Real time price quotes in the market watch window
- Level 2 depth of market pricing
- Multiple chart timeframes
- Multiple chart types
- Instant, pending and limit orders
- Place stop loss, take profits, trailing stops & break evens
- Technical indicators & drawing tools for market analysis
- Fully customisable user interface
- Create, save & load chart templates
- MQL programming interface to create custom tools
- Automated trading via expert advisors (EAs)
- Back test EAs over historical data in the strategy tester
- Free to use in web browsers, on desktop & mobile apps
NAGA provide you with a variety of standalone and integrated trading tools to assist with performing trade operations. I think there is a good choice and found some of the tools to be unique to them.
The NAGA Autocopy tool is ideal for those of you who are interested in copy trading. You can use it to find another trader you want to copy from the leader board, and mirror their trading activity in just a few clicks. When they trade, it will be copied to your account.
You can copy an unlimited number of traders simultaneously. Autocopy will always be active unless you choose to pause it or the master trader stops conducting trading activity.
You can also provide your own signals for other traders to copy. NAGA allows users to receive instant copy trading pay outs to their account by offering their trading signals to be copied by other users. They have a great selection of copy trading features and social trading tools.
NAGA remain transparent by making all online profiles visible for everyone to see, follow and copy. Each user profile contains vital information such as win rate, performance, assets traded and much more. I like that there is a top trader’s leader board that shows the best signals according to performance. These strategies can be copied by newcomers and existing clients.
This tool can be a good solution for those who do not have the time or knowledge to trade themselves. However, there are no guarantees on how well the signals will perform and past performance should not be seen as an indication of future results.
The all-In-One NAGA calculator lets you easily calculate margin, pip value and swaps for the instruments you trade, based on the position size and leverage. This can save time having to perform the complex calculations manually.
NAGA provide an economic calendar from MetaQuotes. The calendar displays the date and time of upcoming global economic releases and market events. You can see the currency that will be impacted along with the previous/forecast/actual results of the releases. Using this calendar can help as part of a fundamental analysis and keep traders up to date with the latest market movements. I always like to see what is happening in the markets as it can help me with making decisions.
NAGA Price Alerts
You don’t need to miss any potential trading opportunity with these free price and volatility alerts. You can setup a price alert to get notified when prices go up or down. Alerts are sent as notifications on your web trader or to NAGA mobile app for iOS and Android. You can also get them to your email inbox if you don’t always have the platform accessible.
NAGA Pay includes a VISA debit card, an IBAN account, a brokerage account, a copy trading feature, and crypto-wallets. NAGA Pay app is accepted by over 140 million merchants across the world because of the global recognition of VISA debit cards.
NAGA Pay is a single money app available in both IOS and Android devices allowing users to make bank transfers and send funds to friends for free within the app network. In addition, users can invest in stocks, ETFs, and crypto as well as copy the trades of other top investors with one tap.
NAGA have some useful educational materials that can help beginners to improve their trading knowledge and assist with market analysis. I found them easy to understand and covering a good range of subjects.
NAGA provide daily webinars in multiple languages. These webinars cover a range of trading topics from technical & fundamental analysis, market outlook and more.
NAGA have a good selection of trading guides and video tutorials where you can learn more about the markets, trading, investing and the various products/services that they provide. They produce and compile educational content to help you improve your trading skills and be more confident in your daily trading activities.
Whatever you are interested in trading, NAGA offer a wide range of powerful assets for all different trading personalities. NAGA traders have made millions of trades across 1,000+ instruments including Stocks, Forex, Indices, Commodities, Cryptocurrencies, and more. You can invest in multiple markets all from one account and platform. I am impressed how they even allow investing in real stocks so that you can buy and sell the shares of world’s biggest public companies on NAGA.
There are major, minor & exotic forex currency pairs for trading, including EURUSD, GBPUSD, USDJPY, USDCHF, EURJPY, USDCAD, EURAUD, etc. The margin requirement varies depending on the pair traded. There is no commission charged for trading forex as they make money from the spread. These spreads are variable starting from 0.7 pips on the EURUSD. Long and short swap charges are also applied to FX.
NAGA currently offer a selection of cryptocurrencies including Bitcoin & Ethereum. The commission is zero although spreads are marked up and variable. Long and short swap is also charged.
NAGA have some of the most popular global indices including France 40, Germany 30, Japan 225, Netherlands 25, US Tech 100, FTSE 100, etc. Margin requirements vary depending on the index. There is no commission charged but there is a variable spread and long/short swap fee.
NAGA offer hundreds of stock CFDs from global companies including popular stocks such as Amazon, Apple, Facebook, Google, Microsoft, Tesla and many more. Most stocks have a small commission charge. There is also a spread and long/short swap fee.
NAGA offer commodities trading on silver, gold and oil. Margin requirements vary depending on the instrument. There is no commission charged but there is a variable spread and long/short swap fee.
There are futures available to trade including DAX30, Euro Stoxx, IBEX 35, Swiss20, various commodities and more. Margin requirements vary depending on the futures contract. There is no commission on futures trading but there is a short/long swap and spread fee.
NAGA offer trading on ETFs such as Spdr DJIA ETF Trust, Ishares Msci Emerging Markets ETF, Ishares Msci EAFE Index ETF, Ishares Msci Pac X-JP ETF, Ishares MSCI Spain Capped ETF, Ishares Taiwan Index ETF, Ishares South Korea Index ETF, Ishares Brazil Index ETF and more. There is a small commission charge on ETFs. In addition to this, there are long/short swap and spread fees.
NAGA offer multi-currency accounts with fast order execution speeds, ensuring the best available market prices at all times. They also have competitive fees with variable spreads and zero commission on selected assets. Opening an account with NAGA is a quite straight-forward process. As soon as you comply with the registration and identification requirements and your account is verified, you will be able to fund your account and start trading.
- Swap: charged for holding a position overnight.
- Commissions on Equities and ETFs: % of notional value.
- Spread: is the difference between Bid and Ask price.
- Copy fees: Fees applied on the position being copied from other users.
- Withdrawal Fee: 5 USD/EUR per withdrawal.
Naga Account Types
There is one account type for all retail traders. I prefer this compared to choosing from many accounts with minor differences. It means that everyone can get access to the same account features, regardless of their investment size. Using a single NAGA account gets you an instant access to stocks, forex and commodities trading. Trade indices, forex, equities, crypto CFDs, and much more. You can fund your account via cryptos and fiat currency.
Using the account gives you access to the NAGA platform and community, with all its features and large range of trading instruments. There is the option to use the platform in guest mode to get a feel for it before you open an account. This is accessible via the NAGA website.
NAGA Global leverage goes up to 1:1000 whereas NAGA EU leverage is limited to 1:30.
NAGA Popular Investor Program
With the NAGA Popular Investor Program, you can secure an extra profit for simply being a popular and active trader. As a NAGA Popular Investor, you can earn up to 100K/month when being auto copied by other traders on the NAGA platform, thanks to the Popular Investors’ Fund.
To be a member, all you need is a minimum number of 500 monthly active auto copiers, execute 5 trades per week, have a win auto copy ratio of 70% and publish at least 2 posts on NAGA Feed weekly.
Depending on the number of auto copiers and the number of performed trades, NAGA Popular Investors become a part of exclusive clubs that come with their own set of benefits.
VIP User Level System
Traders can join the NAGA Achievements program and get rewarded each time they reach a new level. The more you trade, the higher your chances of becoming a NAGA Influencer and earning even more exclusive rewards. Rewards include reduced spreads and commissions, a bonus per copied trade, daily trading signals and access to webinars.
NAGA are very client focused and provide 24/7 customer support via online chat, telephone and email. They are available to answer your questions, help you with any issues that you may have as well as listening to feedback to ensure they keep adding more relevant tools and features to enhance the overall social trading experience. There is also a help centre that covers a wide range of common support queries. They provide contact telephone numbers from multiple countries across the globe. I have always received excellent support from them over the years we have been communicating.
NAGA offer a variety of convenient methods for depositing and withdrawing funds from your trading account. I appreciate that there is a great choice of other 20 payment options including Wire Transfer, Credit/Debit Card and digital wallets such as Neteller & Skrill.
Please note that some methods may only be available to specific countries and not all are available for both deposit and withdrawal. Some third-party fees may be charged when using certain payment methods.
Withdrawal requests are processed within the same day or the next if outside working hours. The withdrawal time can vary depending on the payment provider and method. Bank transfers may take a few business days to clear whilst some online payment methods can be instant.
Also note that your payment method must be previously verified before you place a withdrawal request. Any Credit Card used for the deposit will be available in withdrawal options.
Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites. You may need to verify your account to remove limits on particular methods in some countries. NAGA do not accept third-party payments. All funds deposited into your trading account must be under the same name as your NAGA account.
Accounts can be opened in various currencies. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
Compare Broker Features
|This Broker||AvaTrade||IG||IC Markets|
|Regulated||ADGM FRSA, ASIC, BVIFSC, CBI, FFAJ, FSCA, IIROC, JFSA||ASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFA||ASIC, CySEC, FSA, SCB|
|Commission||From $0||From $0||From $0|
|Instruments||Forex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFs||Forex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFs||Forex, Commodities, Crypto, Stocks, Indices, Bonds|
|Platforms||MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade||MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API||MetaTrader 4, MetaTrader 5, cTrader|
|Funding||Bank Transfer, Credit/Debit Card, E-Wallets||Bank Transfer, Credit/Debit Card, E-Wallets||Bank Transfer, Credit/Debit Card, E-Wallets|
NAGA is a social investing network with a modern and user-friendly platform that is suitable for all levels of trader. I am very impressed with the abundance of features including individual trading, copy trading, personalised portfolios, advanced charting tools, market analysis and insights, NAGA wallet and much more. They give you a wide selection of trading instruments to choose from with competitive fees and various account funding options. You can follow people just like on any other social media which can make them a popular choice for beginners and those who do not have the time to trade by themselves. It is simple to get started and you can discover hundreds of investors on the NAGA leader board and copy their trades within minutes. Just keep in mind that there can be no guarantee of results. Past performance is not an indication of future results.