NAGA is a social investing network where clients of all experience levels can trade, like, share and copy investments on over 950+ trading instruments including Forex, Stocks and CFDS. NAGA has 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 Review, Pros & Cons
- Strict regulation
- Segregated client funds
- Investors Compensation Fund (ICF)
- Variety of user-friendly trading platforms
- Copy & provide trading signals
- Plenty of account deposit & withdrawal methods
- No fees or commissions on deposits
- NAGA Portfolios
- NAGA Protector
- NAGA Messenger
- NAGA MasterCard
- NAGA Wallet
- Rewards program
- 24/5 customer support
- No US clients
- Small withdrawal fee
In this detailed NAGA review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
NAGA are an innovative online broker that offers a social investing network where traders can like, share and copy investments on over 950+ trading instruments including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, ETFs & contract for differences (CFDs). Over 500,000 accounts benefit from their products and services.
Founded in 2015 by Yasin Qureshi and Benjamin Bilski, NAGAS mission is to make investing simple and to empower traders around the world to gain fast and easy access to the global markets. The team works hard to provide the 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 theirs. It is a place for traders to interact with like-minded peers, discuss the current market conditions and share results via your own personal choice of group or public chats.
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.
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.
NAGA offer a multicurrency (€, $, £) prepaid MasterCard that can be used for quick and convenient online or offline transactions across the globe. It can even be used to withdraw cash from ATM machines. You can manage your NAGA card from a user-friendly dashboard and benefit from the industry-leading security that they use.
NAGA is a responsible broker that operates in a fully regulated trading environment and want their clients to make the best possible decisions. 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.
NAGA is a trading name of Naga Markets Ltd, who are a Cypriot Investment Firm and member of The NAGA Group AG, a German based FinTech company publicly listed on the Frankfurt Stock Exchange.
Naga Markets Ltd are authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) with Licence No. 204/13.
CySEC is responsible for supervising and controlling licensed companies that are offering investment services such as NAGA. This means that they are under strict regulation with rules and guidelines in place for them to follow. This can give clients peace of mind that they are using a trusted and reliable online broker.
As an EU member state, CySEC’s financial regulations and operations must comply with the European MiFID financial harmonisation law, which NAGA must therefore also abide by.
The key objectives of the European Union`s MiFID II are to improve the levels of efficiency, for increased financial transparency, to effectively protect consumers and promote fair competition.
In addition to this, MiFID II enables investment firms to provide investment and ancillary services within the territory of another member state and/or a third country, provided that these services are covered by the investment firm`s authorisation.
NAGA client funds are held in segregated accounts with major regulated EU banks. This ensures that they remain separate from the companies fund and thus cannot be used for any other purposes such as operational costs.
NAGA Markets is also a member of the Investor Compensation Fund (ICF). The ICF can offer compensation for eligible clients when a claim is made against a member of the fund in the case where they cannot fulfil their financial obligations.
Naga do not establish accounts to residents of certain jurisdictions such as the USA, Japan, Canada, Belgium, Cuba, Iran, Iraq, Syria and North Korea. Their services are not intended for distribution to, or use by, any person in any jurisdiction where such distribution or use would be contrary to local law or regulation. Some NAGA broker features and products mentioned within this NAGA review may not be available to traders from specific countries due to legal restrictions.
The NAGA social trading platform is the base from where users can share their trading experience and invest in others. You can browse the community, view profiles, look for signals, view 750+ assets, study charts, conduct 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.
NAGA social trading platform features:
- 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 traders 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. The platforms also support automated trading through the use of expert advisors (EAs) and have a large online community where traders share MetaTrader tools. 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 to trade whilst on the go on Android and iOS devices.
Some of the key MetaTrader features 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 Trading Tools
NAGA provide users with a variety of standalone and integrated trading tools to assist with performing trade operations.
NAGA portfolios allow you to manage your investment portfolio with just three clicks. Users can make diversified investments, minimize risks and trade different asset groups based on their risk-reward ratio.
There are individually created portfolios to choose from that are based on time durations (short-term, mid-term and long-term) and risk levels (conservative, moderate, growth). These portfolios are managed by an independent algorithm for investment real-time asset re-allocation to maximize gain potential.
Using the NAGA charting tools powered by TradingView™, users can view live prices, outline patterns and create personalised templates.
NAGA display the community sentiment on certain assets. This gives an overview of the buying/selling power invested in an asset and can help inspire trade ideas.
The NAGA protector can automatically help users lock in profits and limit risks. Parameters can be modified according to individual risk preference.
The integrated watchlist can be used to conveniently keep track of investment ideas across all platforms and whilst on the go.
The asset feed displays real-time information on all positions, market news and detail of assets.
The NAGA free wallet is a simple and secure storage for your cryptos and fiat assets that has a built-in exchange and gateway to NAGA’s social investing network. You can manage and send cryptos with instant transactions and low transaction fees. You can even buy cryptocurrency with a credit card and transfer your cryptos or fiat to your NAGA account for trading.
NAGA have some useful educational materials that can help to improve trading knowledge and assist with market analysis.
NAGA provide daily webinars in multiple languages. These webinars cover a range of trading topics from technical & fundamental analysis, market outlook and more.
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.
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 950+ instruments including Stocks, Forex, Indices, Commodities, Cryptocurrencies, and more. You can invest in multiple markets all from one account and platform.
There are around 47 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, between 3.33% & 5%. There is no commission charged for trading forex as they make money from marked up spreads. These spreads are variable starting from 1.2 pips on the EURUSD. Long and short swap charges are also applied to FX.
NAGA currently offer a selection of around 15 cryptocurrencies including Bitcoin, Ethereum, Dash, Litecoin & Ripple. There is a 100% margin requirement for trading cryptos. The commission is zero although spreads are marked up and variable. Long and short swap is also charged.
NAGA have 10+ of the most popular global indices including France 40, Germany 30, Japan 225, Netherlands 25, US Tech 100, FTSE 100, etc. Margin requirements vary between 5-10% depending on the index. There is no commission charged but there is a variable spread and long/short swap fee.
NAGA offer over 600+ stock CFDs from global companies including popular stocks such as Amazon, Apple, Facebook, Google, Microsoft, Tesla and many more. Most stocks have a margin requirement of 20% and a 0.20% commission charge. There is also a spread and long/short swap fee.
NAGA offer commodities trading on silver, gold and oil. Margin requirements vary between 5-10% depending on the instrument. There is no commission charged but there is a variable spread and long/short swap fee.
There are currently around 22 futures available to trade including DAX30, Euro Stoxx, IBEX 35, Swiss20, various commodities and more. Margin requirements vary between 5-10% 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 around 17 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. The margin requirement on ETFs is 20% and there is also a 0.10% commission charge. In addition to this, there are long/short swap and spread fees.
* Margin Requirement and spreads are subject to changes depending on market conditions.
Considering that the company is registered under EU jurisdiction, Naga Markets is fully complying with these regulatory requirements and thus for retail clients the leverage limits are as follows:
- 1:30 FOR FOREX MAJOR CURRENCY PAIRS
- 1:20 FOR FOREX MINOR CURRENCY PAIRS
- 1:1 FOR CRYPTO
- 1:20 FOR MAJOR INDICES
- 1:10 FOR MINOR INDICES
- 1:5 FOR STOCKS
- 1:10 FOR COMMODITIES (EXCLUDING GOLD)
- 1:20 FOR GOLD
- 1:20 FOR FUTURE MAJOR INDICES
- 1:10 FOR FUTURE COMMODITIES
- 1:10 FOR FUTURE OTHERS
- 1:5 FOR ETFs
NAGA Accounts & Fees
NAGA offer multi-currency accounts (USD/EUR/GBP/PLN/CHF/ BTC, LTC, DASH, ETH, BCH, NGC or fiat) with fast order execution of less than 250ms, ensuring the best available market price. They also have competitive fees with variable spreads and zero commission on selected assets.
- Swap: charged for holding a position overnight.
- Commissions on Equities and ETFs : 0.20% on 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: 10 USD/EUR per withdrawal
Naga Account Types
There is one account type for all retail traders with leverage of up to 1:30 depending on the asset traded. 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. The broker also offer corporate and Islamic accounts upon request.
These who qualify as a professional trader can apply for a professional account with increased leverage of up to 1:200. To qualify you must meet the following criteria:
1. An average of 10 significantly sized transactions per quarter over the last four quarters, with NAGA or another broker. A significant size trade = minimum notional value of €10,000 on equities or €50,000 on forex, indices and commodities (or currency equivalent).
2. A financial instrument portfolio, including cash deposits of at least €500,000 (or currency equivalent).
3. Having worked in a professional position in the financial sector for at least 1+ year(s).
To be categorized as a professional client you are required to acknowledge that because of ceasing to be treated as a retail client you understand the consequences of losing the protection and investor compensation that you would usually have as a retail client.
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.
As broker fees can vary and change, there may be additional fees that are not listed in this NAGA review. It is imperative to ensure that you check and understand all of the latest information before you open a NAGA broker account for online trading.
NAGA are very client focused and provide 24/5 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.
NAGA Deposit & Withdrawal
NAGA offer a variety of convenient methods for depositing and withdrawing funds from your trading account. This includes Wire Transfer, Credit/Debit Card, Neteller, Skrill, GiroPay, Klarna & Przelewy24.
They have no charges for making deposits or withdrawals unless using the NAGA MasterCard. The minimum deposit required is 30 EUR, USD, GBP, PLN and the minimum withdrawal required is 50 EUR, USD, GBP, PLN.
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 EUR, USD, GBP, PLN. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
NAGA Account Opening
Opening an account with NAGA is a quick and easy process. You simply fill out the short online registration form and confirm your email address. Following that you will be able to login to the NAGA platform and upload your documents for KYC purposes. This can be a proof of identification such as a passport or drivers license and proof of address such as a utility bill no more than 3 months old. Once your account has been verified you can fund it and commence trading.
What is the NAGA minimum deposit?
NAGA require a minimum deposit of just $30. This is a small amount when compared to some other brokers who require deposits of $500 or more. The fact that you can get started with just $30 means that you are able to try the brokers platform and trading services with minimal risk. This will help determine if NAGA is a suitable choice of broker for you in the long term.
How do I deposit money into NAGA?
NAGA accept a range of methods for making deposit into your trading account, including Wire Transfer, Credit or Debit Card, Neteller, Skrill, GiroPay, Klarna, Przelewy24 and Crypto. This is a good selection of flexible payment options when compared to some brokers who just offer bank transfer and card payments.
What are NAGA deposit fees?
NAGA do not charge any fees or commissions on deposits made into your trading account. However, you may be subject to the fees that can be charged by the payment method provider of your choice or your bank.
How do I withdraw money from NAGA?
You can withdraw money from your NAGA account using the same methods accepted for deposits, such as Wire Transfer, Credit or Debit Card and digital e-Wallets. You can visit the withdrawals page in your NAGA Account if you want to know what payment methods are specifically available to you.
What are NAGA withdrawal fees?
All NAGA withdrawals are subject to a $10 or equivalent fee with a minimum withdrawal amount of $50. If you want to withdraw crypto to your wallet the fee is 0.99%. The fee for sending crypto via an email address is 0.50%. You should also check if there will be any additional charges from your payment provider (e.g. bank, debit/credit card provider).
What is the NAGA commission fee?
NAGA offer very competitive fees. To copy a trader, you will pay a fixed €0.50 fee per trade. An additional fee applies only if your profit is more than €5. For any profitable €5+ trade, you’ll pay a 5% fee for copying a trader’s order.
NAGA charge a commission on Equities and ETFs which is 0.20% on the notional value. Other fees include the swap, spreads and withdrawal fee which is 10 USD/EUR per withdrawal.
Are there any NAGA inactivity fees?
NAGA do not charge an inactivity fee. This means you can rest assured you won’t get any nasty surprises if you do not access your NAGA account for a long time. Some brokers are known to help themselves to any funds in your account if you don’t use them, although this should always be stipulated within the brokers terms and conditions.
What are NAGA account types?
NAGA offer one type of real trading account which keeps things simple and fair for all traders. This account allows you to trade by yourself on the provided platforms and to copy trades of others. You can also request a corporate or Islamic account if required.
Is there a NAGA demo account?
Once you sign up on NAGA, you get the demo account by default. The demo account is free of charge and it is not binding. It can give you a great way to practice trading online and familiarise yourself with the brokers products and services. A demo account comes preloaded with $10,000 in virtual funds so that you can trade risk free until you feel confident enough to open a live account with NAGA .
What are the NAGA spreads?
The spread is the difference between the bid-ask prices that you must pay on each trade you take with a broker. It is essentially the difference between the highest price that a buyer is willing to pay for an asset and the lowest price that a seller is willing to accept. NAGA have variable spreads that depend on the current market conditions.
What is the NAGA leverage?
NAGA offer flexible leverage ranging from 1:30 up to 1:200. Although high leverage does mean that you can trade larger positions, it can also increase your overall risk. Make sure you have a clear understanding of leverage and how it works. NAGA provide the following leverage options:
- NAGA Markets clients leverage 1:30
- NAGA Markets Professionals leverage 1:200
To request a leverage change of your NAGA trading account, you will have to send an email to the NAGA support team. The approval of your request to increase the leverage level, is subject to an assessment of your trading experience, relevant knowledge and understanding of risk.
What are NAGA margin & stop out levels?
At NAGA you will receive the first warning email, when your margin drops below 100%. Your trades will start closing when your margin has reached the 50%, starting with the most unprofitable one.
Is there a NAGA Islamic account?
NAGA does offer an Islamic swap-free account. You will need to provide them with proof of your faith such as an official document that shows your religion. The swap free applies for 10 calendar days. Any Islamic accounts that hold a position for longer than this, will be credited or debited swap accordingly.
What are the NAGA trading instruments?
NAGA offer an impressive selection of over 950 different assets for trading online. This includes forex pairs, real stocks, indices, CFDs on stocks, cryptocurrencies, commodities, ETFs and Futures. Whatever your interests, there is something for everyone to trade with NAGA.
How do I open a NAGA live account?
In order to start trading with real money at NAGA , you will need to upgrade your account to live. This is a quick and easy process that take less than 5 minutes to complete. Once you have registered on the Naga platform, you just choose the “upgrade” option from within your account and complete the sign-up process.
Every client can open one account with NAGA under which you can open 2 Live MT4 trading sub-accounts and 2 Live MT5 trading sub-accounts with different base currencies or for using different strategies.
How do I verify my NAGA account?
After you have upgraded to a NAGA live account, you will be redirected to the Verification menu, where you will be able to verify your identity by uploading your Proof of Identity and Proof of Residence documents.
What is the NAGA trading platform?
The NAGA Social Investing Network is available on all modern iOS and Android devices as well as on all modern web browsers as a web application. With the Naga app, you can trade anywhere, anytime. It allows you to buy and sell any instrument, Auto Copy top investors, chat on NAGA Messenger and more.
NAGA also have the user-friendly MetaTrader platforms, MT4 and MT5. The primary difference between these platforms is that MT5 offers more tools and instruments. MT4 only offers Contract for Difference (CFD) trading whereas MT5 expands its offerings to real stocks and futures FX trading instruments. MT5 is also faster and offers more built-in technical indicators than MT4.
Where can I download the NAGA platform?
You can download any of the NAGA trading platforms directly from the brokers website or the relevant app stores. They are completely free of charge to use.
Where is NAGA located?
NAGA is located in Cyprus. This is a popular destination for many trading brokers.
Is NAGA regulated?
Yes, NAGA Markets Europe Ltd, is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC). Using a regulated broker can help to give some traders peace of mind that they have some protection in the unlikely scenario something was to go wrong.
What countries do NAGA accept?
NAGA welcome most traders but due to regulations, they cannot establish accounts with residents of certain jurisdictions such as the USA, Japan, Canada, Belgium, Cuba, Iran, Iraq, Syria and North Korea.
Is NAGA a scam?
No, NAGA is not a scam. They are an established and regulated online brokerage service that offer a range of different products and services for traders around the globe.
How can I contact NAGA support?
You can contact NAGA support via live chat, email or make a call back request. They are available 24/5 with local offices around the globe.
NAGA is a social investing network with a modern and user-friendly platform that is suitable for all levels of trader. There is an abundance of features including individual trading, copy trading, personalised portfolios, advanced charting tools, market analysis & insights, NAGA wallet and much more. They offer a wide selection of trading instruments with competitive fees and various account funding options.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.39% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing you money.