NAGA are an innovative online broker that offers a social investing network where traders can like, share and copy investments on over 500+ 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.
There is also an artificial intelligence (AI) trading assistant called CYBO. This can be used to automate your investments with a variety of management parameters.
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.
Pros / Cons
- Strict regulation
- Segregated client funds
- Investors Compensation Fund (ICF)
- Copy & provide trading signals
- NAGA Portfolios
- NAGA CYBO Trading Assistant
- NAGA Protector
- NAGA Messenger
- NAGA MasterCard
- NAGA Wallet
- No US clients
- Restricted leverage for non-professional clients
- No MT4/MT5
- Marked up spreads
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 harmonization 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 accept clients from most countries excluding residents of the United States, Belgium or any other country outside the European Economic Area (EEA). 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.
NAGA Trading Platforms
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 500+ 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 Trading Tools
NAGA provide users with a variety of standalone and integrated trading tools to assist with performing trade operations.
CYBO is an automated AI trading assistant with multiple parameters to manage your investments. It is a smart trading tool that is equipped with active risk management and has a variety of configurable trading parameters and algorithms to try and catch the best possible trading opportunities whilst reducing error rates. CYBO can create a personalised investment strategy based on your preferences, habits, favourite markets and risk tolerance. There is of course no guarantee of results when using this tool.
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.
NAGA Trading Instruments
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 500+ 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 Trading 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.
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.
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.
NAGA Customer Service
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.
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.
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 copy trading, automated investments with CYBO, personalised portfolios, advanced charting tools, market analysis & insights, NAGA wallet and much more. They offer a wide selection of trading instruments with competitive fees although leverage is limited and spreads are not the tightest.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.07% 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.