Pros
  • Regulated by CySEC
  • Wide range of trading platforms
Cons
  • 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.

Reviewed broker: Naga

Established in 2015

Operated by German financial holding company NAGA Group AG (found by Yasin Qureshi and Benjamin Bilski)

Regulation: Financial Services Authority Seychelles (FSA)

Location: Seychelles

Trading instruments: Foreign Exchange (FX), Commodities, Indices, Shares/Stocks, Futures/Forwards, CFDs, Cryptocurrency

Order execution: Market Execution

Restricted countries: NAGA Capital Ltd does not provide services for the residents of certain countries, such as Afghanistan, Albania, American Samoa, Anguilla, Australia, Austria, Barbados, Belarus, Belgium, Benin, Bermuda, British Indian Ocean Territory, Bulgaria, Burkina Faso, Canada, Cayman Islands, Central African Republic, Christmas Island, Cocos (Keeling) Islands, Congo, The Democratic Republic of the, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Falkland Islands (Malvinas), Finland, France, Germany, Gibraltar, Greece, Guam, Haiti, Heard Island and McDonald Islands, Hungary, Iceland, Iran, Islamic Republic of, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, Korea, Democratic People’s Republic of, Latvia, Libyan Arab Jamahiriya, Liechtenstein, Lithuania, Luxembourg, Mali, Malta, Montserrat, Mozambique, Myanmar, Netherlands, New Zealand, Norfolk Island, Norway, Palestinian Territory, Occupied, Pitcairn, Poland, Portugal, Romania, Russian Federation, Saint Helena, Ascension and Tristan Da Cunha, San Marino, Senegal, Serbia, Slovakia, Slovenia, Somalia, South Georgia and the South Sandwich Islands, South Sudan, Spain, Sri Lanka, Sweden, Switzerland, Syrian Arab Republic, Trinidad and Tobago, Tunisia, Turks and Caicos Islands, Uganda, Ukraine, United Kingdom and any other countries where the citizens have British proof of identity (i.e. British Virgin Island, Gibraltar, Isle of Man etc.), United States, U.S. Minor Islands, Vanuatu, Virgin Islands, British, Virgin Islands, U.S., Yemen, and Zimbabwe

Trading Conditions and Features of Naga 

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.

Discover Copy-Trading. Discover other investors on NAGA and copy their traders.

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.

 IRONBronze
FeaturesBetter 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 tradingCopy 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 CurrenciesEUR/USD/GBPEUR/USD/GBP
Available Leverage1:10001:1000
Minimum Deposit$250$2,500
Starting Spreads1.71.7
Commission Per TradeReduced Commission on Stock CFDs (0.20%)Reduced Commission on Stock CFDs (0.20%)
Decimal PricingUp to 5Up to 5 
Trading InstrumentsForeign Exchange (FX), Commodities, Indices, Shares/Stocks, Futures/Forwards, CFDs, CryptocurrencyForeign Exchange (FX), Commodities, Indices, Shares/Stocks, Futures/Forwards, CFDs, Cryptocurrency
Min. Lot Size Per Trade0.010.01
Max Lot Size Per Trade50 50
Demo AccountYesYes
Swap/Rollover FreeYes  Yes 
Copy Trading SupportYesYes
 SilverGold
FeaturesOne-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 tutoringReduced 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 CurrenciesEUR/USD/GBPEUR/USD/GBP
Available Leverage1:10001:1000
Minimum Deposit$5,000$25,000
Starting Spreads1.71.2
Commission Per TradeReduced Commission on Stock CFDs (0.20%)Reduced Commission on Stock CFDs (0.10%)
Decimal PricingUp to 5Up to 5 
Trading InstrumentsForeign Exchange (FX), Commodities, Indices, Shares/Stocks, Futures/Forwards, CFDs, CryptocurrencyForeign Exchange (FX), Commodities, Indices, Shares/Stocks, Futures/Forwards, CFDs, Cryptocurrency
Min. Lot Size Per Trade0.010.01
Max Lot Size Per Trade5050
Demo AccountYesYes
Swap/Rollover FreeYesYes
Copy Trading SupportYesYes
 DiamondCrystal
FeaturesPlatinum 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 sessionsNo 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 CurrenciesEUR/USD/GBPEUR/USD/GBP
Available Leverage1:10001:1000
Minimum Deposit$50,000$100,000
Starting Spreads0.90.7
Commission Per TradeReduced Commission on Stock CFDs (0.10%)Reduced Commission on Stock CFDs (0.10%)
Decimal PricingUp to 5  Up to 5
Trading InstrumentsForeign Exchange (FX), Commodities, Indices, Shares/Stocks, Futures/Forwards, CFDs, CryptocurrencyForeign Exchange (FX), Commodities, Indices, Shares/Stocks, Futures/Forwards, CFDs, Cryptocurrency
Min. Lot Size Per Trade0.010.01
Max Lot Size Per Trade5050
Demo AccountYesYes
Swap/Rollover FreeYesYes
Copy Trading SupportYesYes

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.

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.

Deposit Options

In terms of funding methods, Naga offers numerous payment methods which is a very good plus:

  • Сredit/Debit cards
  • Wire transfers
  • Skrill
  • Neteller
  • PayPal
  • Giropay

Naga minimum deposit amount is $250, yet each payment method may require a specified minimum amount available for transfer.

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 2024 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.  

Naga Details

Maximum Leverage:
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Educational Material:
Representative Offices:
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