Binance vs Naga
| Binance | NAGA |
|---|---|
3.5
Binance is being sued by the SEC for a range of securities violations, including the commingling of client funds and 'wash trading' against its customers to artificially increase crypto prices. Your funds may be at risk if you trade with Binance. We do not recommend making any deposits.
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2.8
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Binance is one of the best-known crypto exchanges. The company is available in more than 180 countries with over 120 million registered customers. The platform offers a suite of crypto trading products, from staking and NFTs to derivatives. |
NAGA is a German social investing platform offering copy trading on 950+ financial markets including CFDs and real stocks. Founded in 2015, the company is publicly listed on the Frankfurt Stock Exchange and is regulated by CySEC (Cyprus) and the FSA (Seychelles). The firm offers an all-in-one web platform and mobile app, but traders can also synchronize their NAGA accounts with the MT4 or MT5 platforms. |
| RISK WARNING: Derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. of retail investor accounts lose money when trading derivatives with this provider. You should consider whether you understand how derivatives work and whether you can afford to take the high risk of losing your money | |
| Comment by Reviewer | |
| "Binance will appeal to crypto investors looking to trade big tokens like Bitcoin plus niche coins with low fees. However, regulatory action and questionable handling of customer funds makes this firm too high-risk in our opinion." | "After exploring all the platform features, I think NAGA will be ideal for experienced copy traders who can reap the benefits of the higher VIP account tiers, including boosted earnings for copied trades and lower withdrawal fees. That said, I think beginners will also appreciate the user-friendly social features and education Academy." |
| Pros | |
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| Cons | |
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| Instruments | |
| Cryptos | CFDs on forex, indices, shares, commodities, cryptocurrencies, real stocks and futures |
| Demo Account | |
| No | Yes |
| Minimum Deposit | |
| $0 | $250 |
| Trading Platforms | |
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| Payment Methods | |
| Multiple local payment methods available depending on the client’s country of residence | |
| Minimum Trade | |
| $10 | 0.01 Lots |
| Regulator | |
| CySEC, FSA | |
| Margin Trading | |
| Yes | Yes |
| STP Account | |
| No | No |
| ECN Account | |
| No | No |
| DMA Account | |
| No | No |
| MAM Account | |
| No | No |
| PAMM Account | |
| No | No |
| LAMM Account | |
| No | No |
| Demat Account | |
| No | Yes |
| AI / Machine Learning | |
| No | No |
| Robo Advisor | |
| No | No |
| Negative Balance Protection | |
| No | Yes |
| Market Maker | |
| No | Yes |
| P2P Trading | |
| Yes | No |
| Spot Trading | |
| Yes | No |
| Mobile Apps | |
| Yes | iOS & Android |
| Auto Trading | |
| Yes | |
| Copy Trading | |
| No | Yes |
| Copy Trading Platform | |
| I thoroughly enjoyed using NAGA’s proprietary copy trading terminal, which rivals some of the top competitors. There’s a visually appealing live social feed to explore alongside the Market Buzz feature, as well as the economic calendar and education section. I like that you can easily switch between live and demo mode if you intend to practice your strategies as you go. | |
| Social Trading | |
| No | Yes |
| Trade Signals | |
| Yes | |
| VPS Hosting | |
| No | No |
| Tournaments | |
| No | Yes |
| Demo Competitions | |
| No | No |
| Ethical Investing | |
| No | No |
| Custodial Account | |
| No | No |
| Guaranteed Stop Loss | |
| No | No |
| Inactivity Fee | |
| $0 | |
| Islamic Account | |
| No | Yes |
| Account Currencies | |
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| Stock Exchanges | |
| Commodities | |
| CFD Trading | |
| CFD trading not offered | I found a good selection of 950+ CFDs. Traders can get started with a $250 minimum deposit, which gets you unlimited access to webinars, ebooks and trade alerts. Standard spreads in the basic account are around 1.7 pips, however, the most competitive spreads from 0.7 pips are only accessible to those who can deposit $50,000 or more. |
| Leverage | |
| 1:30 (EU). Leverage also depends on the financial instrument traded and the trader's location. | |
| FTSE Spread | |
| Variable | |
| GBPUSD Spread | |
| Variable | |
| Oil Spread | |
| Variable | |
| Stocks Spread | |
| Variable | |
| Forex Trading | |
| Forex trading not offered | NAGA offers an average range of 40+ currency pairs with variable spreads and lot sizes, including Micro and Mini lots. I found that you can start copying with a fixed minimum of $50 or a variable minimum relative to the leader. Copy fees start from $0.99 and I like that you can test out the platform in the $10,000 virtual account. |
| GBPUSD Spread | |
| Variable | |
| EURUSD Spread | |
| Variable | |
| EURGBP Spread | |
| Variable | |
| Assets | |
| 48 | |
| Cryptocurrency | |
| Binance is one of the world's largest crypto exchanges. There is a vast range of products available including Binance Pool, Staking and an NFT Marketplace. | I was impressed to find 30+ crypto derivatives at NAGA, including popular crypto-fiat pairs like ETHUSD and BTCEUR. I like that you can easily set alerts in the platform, based on price, percentage or pips. |
| Spread | |
| Variable fees with account tiers | Variable |
| Coins | |
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| Crypto Lending | |
| Yes | No |
| Crypto Mining | |
| No | No |
| Crypto Staking | |
| Yes | No |
| Auto Market Maker | |
| No | No |
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| RISK WARNING: Derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. of retail investor accounts lose money when trading derivatives with this provider. You should consider whether you understand how derivatives work and whether you can afford to take the high risk of losing your money | |
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