Established in 2015
Operated by German financial holding company NAGA Group AG (found by Yasin Qureshi and Benjamin Bilski)
Regulation: The European division of the company operates under the license of the Cyprus regulator CySEC ( license number 204/13), which guarantees traders the protection of their funds and that all operations are transparent. The European entity is licensed with the UK Financial Conduct Authority (FCA).
Location: Limassol, Cyprus. The broker has ten offices around the world including in India, South Africa and Mexico.
Trading instruments: Forex, stocks, cryptocurrency, indices, commodities, CFDs on stocks, precious metals, ETFs
Order execution: Market Execution
Note: The company does not accept customers from countries: USA, Canada, Iran, Afghanistan, North Korea, Afghanistan, Belgium.
Advantages of Naga Broker
- 1+ million traders and enjoy all benefits of the leading social trading platform. Trade and invest, learn from others, copy our best traders with one tap or become a trading star yourself!
- Trade the global markets (Stocks, Commodities, Forex & ETFs). 950+ Instruments and Assets.
- Register a free NAGA Account, upgrade it to Live and enjoy a fully free education products from our team
- Multi-Currency Accounts. Open multiple trading accounts with one of many supported base currencies.
- Real-Time Order Execution. Stay on top of the market with our high-speed order processing.
- Mobile and Web Interface. Trade on the go with NAGA mobile apps for iOS and Android devices.
- Discover Copy-Trading. Discover other investors on NAGA and copy their traders.
- Use your own Virtual NAGA Card, IBAN Account, send and receive money, and much more!
- Publicly Listed Company Backed by Multibillion Fund FOSUN. NAGA Group A.G is a publicly listed fintech company backed by a Chinese multibillion fund FOSUN.
Trading Conditions and Features of Naga
Account base currency: USD, EUR, GBP, PLN, NGC
Naga offers over 15,000 assets:
- Forex – 48 major, minor and exotic currency pairs i.e. GBPUSD and AUDJPY
- Cryptocurrencies – 27 cryptocurrencies i.e. BTC, ETH, LTC and XRP
- CFDs – 400+ stock CFDs i.e. Ford, General Mills and Tesla
- Commodities – 7 commodities i.e. Oil, Copper and Wheat
- Indices – 19 global indices i.e. S&P500, UK100 and US30
- Stocks – 400+ stocks i.e. Apple, Coca Cola and Netflix
- Futures – 12 futures i.e. FTSE100, JAP225 and DE30
- ETFs – 17 ETFs i.e. DIA, EEM and GSG
Segregated accounts: Any payments funded to Naga accounts by traders are held in a segregated bank account.
Leverage up to 1:1000
Spreads from 0.7 pips
Minimum order: 0.01
Social trading: available
Key features of NAGA Auto-Copy:
- Transparent statistics for all the transactions: active, non-complete, and complete.
- The top traders are rated based on their profits, the number of profitable trades, and the number of active investors who have connected to the signal provider.
- The trader’s transactions are copied automatically onto the investor’s account.
- The investor can indicate the exact amount of investment for each trader.
Hedging: not allowed
Account Types
PAMM accounts: yes
ECN/STP accounts: not available
Cent accounts: not available
Islamic accounts: available upon request
Account Types: Demo, Iron Trader, Bronze Trader, Silver Trader, Gold Trader, Diamond Trader, Crystal Trader
Demo: The test account is made available by default once you sign up to Naga and comes with $10,000 in virtual cash. The simulator allows you to get acquainted with the Naga platform and interface while testing out your trading strategies risk-free.
| IRON | Bronze | |
| Features | Better trading conditions, lower fees higher copy bonus of $0.12, reduced stock CFDs commission of 0.20%, decreased withdrawal fees are 5 EUR/USD/GBP or equivalent, access to free educational e-Books to learn more about trading | Copy Analytics Dashboard access, better trading conditions and lower fees, IRON-level benefits, higher Copy bonus of $0.15, decreased withdrawal fees of 4 EUR/USD/GBP or equivalent, access to free educational e-Books to learn more about trading |
| Account Currencies | EUR/USD/GBP | EUR/USD/GBP |
| Available Leverage | 1:1000 | 1:1000 |
| Minimum Deposit | $250 | $2,500 |
| Starting Spreads | 1.7 | 1.7 |
| Commission Per Trade | Reduced Commission on Stock CFDs (0.20%) | Reduced Commission on Stock CFDs (0.20%) |
| Decimal Pricing | Up to 5 | Up to 5 |
| Trading Instruments | Foreign Exchange (FX), Commodities, Indices, Shares/Stocks, Futures/Forwards, CFDs, Cryptocurrency | Foreign Exchange (FX), Commodities, Indices, Shares/Stocks, Futures/Forwards, CFDs, Cryptocurrency |
| Min. Lot Size Per Trade | 0.01 | 0.01 |
| Max Lot Size Per Trade | 50 | 50 |
| Demo Account | Yes | Yes |
| Swap/Rollover Free | Yes | Yes |
| Copy Trading Support | Yes | Yes |
| Silver | Gold | |
| Features | One-on-one tutoring, better trading conditions and lower fees, BRONZE-level benefits, higher copy bonus of $0.18, decreased withdrawal fees of 3 EUR/USD/GBP, 2 sessions of one-on-one tutoring | Reduced spreads, better trading conditions and lower fees, access to premium contests, reduced spreads, higher copy bonus of $0.22, decreased withdrawal fees of 2 EUR/USD/GBP or equivalent, reduced stock CFD commissions of 0.10%, premium contests, 4 one-on-one tutoring sessions |
| Account Currencies | EUR/USD/GBP | EUR/USD/GBP |
| Available Leverage | 1:1000 | 1:1000 |
| Minimum Deposit | $5,000 | $25,000 |
| Starting Spreads | 1.7 | 1.2 |
| Commission Per Trade | Reduced Commission on Stock CFDs (0.20%) | Reduced Commission on Stock CFDs (0.10%) |
| Decimal Pricing | Up to 5 | Up to 5 |
| Trading Instruments | Foreign Exchange (FX), Commodities, Indices, Shares/Stocks, Futures/Forwards, CFDs, Cryptocurrency | Foreign Exchange (FX), Commodities, Indices, Shares/Stocks, Futures/Forwards, CFDs, Cryptocurrency |
| Min. Lot Size Per Trade | 0.01 | 0.01 |
| Max Lot Size Per Trade | 50 | 50 |
| Demo Account | Yes | Yes |
| Swap/Rollover Free | Yes | Yes |
| Copy Trading Support | Yes | Yes |
| Diamond | Crystal | |
| Features | Platinum spreads, better conditions and fees, NAGA Profile Awareness Boost, reduced spreads, higher copy bonus of $0.27, decreased withdrawal fees of 1 EUR/USD/GBP or equivalent, reduced stock CFD commissions of 0.10%, premium contests, 8 one-on-one tutoring sessions | No withdrawal fees, VIP spreads, best trading conditions and fees, 20 daily trading signals and so everything from IRON to DIAMOND levels, lowest VIP spreads, higher copy bonus of $0.32, no withdrawal fees, reduced stock CFD commissions of 0.10%, premium contests, unlimited one-on-one tutoring sessions |
| Account Currencies | EUR/USD/GBP | EUR/USD/GBP |
| Available Leverage | 1:1000 | 1:1000 |
| Minimum Deposit | $50,000 | $100,000 |
| Starting Spreads | 0.9 | 0.7 |
| Commission Per Trade | Reduced Commission on Stock CFDs (0.10%) | Reduced Commission on Stock CFDs (0.10%) |
| Decimal Pricing | Up to 5 | Up to 5 |
| Trading Instruments | Foreign Exchange (FX), Commodities, Indices, Shares/Stocks, Futures/Forwards, CFDs, Cryptocurrency | Foreign Exchange (FX), Commodities, Indices, Shares/Stocks, Futures/Forwards, CFDs, Cryptocurrency |
| Min. Lot Size Per Trade | 0.01 | 0.01 |
| Max Lot Size Per Trade | 50 | 50 |
| Demo Account | Yes | Yes |
| Swap/Rollover Free | Yes | Yes |
| Copy Trading Support | Yes | Yes |
Payment Options
Minimum deposit requirement $250
Naga offers over 20 deposit and withdrawal methods. However, the options available will depend on the country you’re based in. Methods include:
- Bank Wire transfer (Instant)
- Credit/Debit card i.e. Visa, Mastercard and Maestro (Instant)
- Cryptocurrencies i.e. Bitcoin, Naga Coin or Ethereum (Instant)
- Alternative payment methods i.e. Skrill, Giropay and Neteller (Instant)
- Naga withdrawal fees varies on payment method
- Naga does not charge a fee for inactive accounts.
- Naga doesn’t charge deposit fees.
- Naga withdrawal fees vary depending on your selected withdrawal payment method. Withdrawal requests are processed within the same day or the following day if the request was submitted out of working hours. While there are no deposit fees, Naga charges a standard withdrawal fee of $5 or equivalent and the minimum withdrawal is $50.
Disadvantages of NAGA:
- High spreads on standard accounts.
- Lack of trading bonuses such as a Welcome bonus, account replenishment, etc.
- Limited choice of payment systems for replenishing the balance and the withdrawal of funds.
- The broker does not provide cent accounts.
Trading Platforms
Naga Web Platform
Naga Web is the broker’s bespoke platform that allows users to automatically copy trades from other members and configure price alerts directly from a web browser. The platform offers most of the functionality found in MT4 and MT5, alongside a series of additional features:
- Full access to all Naga trading markets
- Messenger for sharing analysis
- ‘Best investors’ leaderboard
- Personal account manager
- Copy trading signals
- Autotrading feature
- Market news feed
- Digital wallets
The Naga Platform is also available as a mobile app on iOS and Android.
MetaTrader 4
MT4 is a popular forex trading platform that has a user-friendly interface and is suitable for beginners. Features include:
- 4 types of pending orders
- 3 types of instant orders
- Customisable interface
- 30 technical indicators
- 31 graphic objects
MT4 is available to download on Mac, Windows and as a mobile app on iOS and Android.
MetaTrader 5
MT5 is another industry-leading platform with advanced features for established investors. Naga’s MT5 terminal offers a wider range of instruments compared to MT4, including ownership of physical shares where users can earn dividends. Other features include:
- Ability to transfer funds between accounts
- 6 types of pending orders
- 4 types of instant orders
- 38 technical objects
- 44 graphic objects
- Economic calendar
- Market depth
- Secure login
MT5 is available to download on Mac, Windows and as a mobile app on iOS and Android.
Customer Support
You can contact customer support through several channels listed below. The team is available Monday to Friday from 9:00 to 20:00 EEST.
- Email – service@naga.com
- Live chat – Found on the bottom of the website
- Telephone numbers – UK +44 20 3318 4345, international +357 25 041410
- HQ Address – Ariadnis 7, Moutagiaka, 4531 Limassol, Cyprus
FAQ
How Do I Open An Account With Naga?
Opening an account with Naga is straightforward, follow the link below and select ‘Register’. You will need to fill in a short questionnaire, verify your identity and provide proof of residence. Once your account has been verified, you can log in and start trading. The exchange also offers an Islamic swap-free account on request.
Is Trading With Naga Safe?
Naga offers a high level of client security. Trader’s funds are held in segregated accounts with major EU banks. Additional security features at the login stage also help to provide a robust trading environment. With that said, online trading is risky, especially when investing in cryptos and leveraged CFDs. Also, there are no guarantees that the strategies you copy on the platform will generate returns.
Is Nada Trading Legit?
Naga Trading is a legitimate broker that is regulated by the Cyprus Securities and Exchange Commission (CySEC), under license number 204/13. The company also holds a license with the FCA in the UK. As a result, we’re satisfied the company is a respectable copy trading broker.
How Does Naga Trading Work?
Naga is a social trading network that brings together users to share information and explore strategies. Clients can copy as many trading systems as they want and can view the best Naga traders through the leaderboard. Every time a user copies your trade, you will receive payment directly to your account. The copytrade service is available on the Naga Web platform only.
What Are The Trading Hours On Naga?
Users can access trading platforms 24/7. However, market operating hours will depend on the specific asset. For example, the forex market is available 24/5 while cryptocurrencies are open 24/7. Note, spreads may widen during periods of low liquidity.
How was the rating of Naga performed compared to other brokers?
This 2023 Forex Broker Review has been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers. The final grade is given based on Naga FX broker performance and features.
Overall our online Naga review was conducted with the details obtained from the demo trading and the forex brokers website. If you would like to add details to this online Naga or you find inaccurate details Naga broker review please get in touch with us and the changes will be applied.
