Naga Review 2022

4.1
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RISK WARNING: Derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage 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

Naga is a social investing platform offering copy trading on major financial markets including CFDs and real stocks.

BonusNo
InstrumentsCFDs on forex, indices, shares, commodities, cryptocurrencies, real stocks and futures
Demo AccountYes
Min. Deposit$250
Payment MethodsMultiple local payment methods available depending on the client’s country of residence
Min. Trade0.01
Regulated ByCySEC
MetaTrader 4Yes
MetaTrader 5Yes
cTraderNo
OmniTraderNo
AlgoTraderYes
TradingViewNo
Trading CentralYes
AutochartistNo
eSignalYes
STP AccountNo
ECN AccountNo
DMA AccountNo
MAM AccountNo
PAMM AccountNo
LAMM AccountNo
Demat AccountYes
Mobile AppsiOS & Android
Margin TradingYes
Volatility IndexNo
Spot TradingNo
Perpetual SwapsNo
ELWsNo
REITsNo
AI / Machine LearningNo
Robo AdvisorNo
P2P TradingNo
Negative Balance ProtectionYes
VPS HostingNo
TournamentsYes
Demo CompetitionsNo
Managed AccountsNo
Market MakerYes
Auto TradingYes
Social TradingYes
Copy TradingYes
Trade SignalsYes
Islamic AccountYes
Account Currencies
  • USD
  • EUR
  • GBP
  • PLN
Inactivity Fee0
Guaranteed Stop LossNo
Stock Exchanges
  • Australian Securities Exchange
  • CAC 40 Index France
  • DAX GER 40 Index
  • Dow Jones
  • FTSE UK Index
  • Japan Exchange Group
  • Nasdaq
  • S&P 500
Commodities
  • Gold
CFD TradingNaga offers competitive trading conditions on a range of contracts for difference.
CFD FTSE SpreadVariable
CFD GBPUSD SpreadVariable
CFD Oil SpreadVariable
CFD Stocks SpreadVariable
CFD Leverage1:30 (EU). Leverage also depends on the financial instrument traded and the trader's location.
Forex TradingA long list of currencies and variable spreads with high trading volumes and liquidity are available.
Forex GBPUSD SpreadVariable
Forex EURUSD SpreadVariable
Forex EURGBP SpreadVariable
Forex Assets48
Crypto TradingTrade popular crypto tokens against the US Dollar (with Naga Markets Europe Ltd)
Crypto SpreadVariable
Crypto LendingNo
Crypto StakingNo
Crypto MiningNo
Crypto Auto Market MakerNo
Crypto Coins
  • ADA
  • ATOM
  • BTC
  • DASH
  • DOGE
  • DOT
  • EOS
  • ETH
  • FIL
  • IOTA
  • LINK
  • LTC
  • NEO
  • QTUM
  • SHIB
  • SOL
  • TRON
  • UNI
  • XLM
  • XMR
  • XRP
  • XTZ
  • ZEC
RISK WARNING: Derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage 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

Naga is a regulated social trading platform that allows clients of all levels to share and copy strategies on 1000+ assets including CFDs on forex, stocks and cryptos. Investors can use the broker’s proprietary copy trading platform or connect to the financial markets using the established MT4 and MT5.

Our review of Naga unpacks leverage rates, copy trading fees, deposit and withdrawal methods, and more. Find out whether our experts would recommend signing up with Naga.

About Naga

Naga Group AG was founded in 2015 by Yasin Qureshi and Benjamin Bilski. The company conducted an initial public offering in 2017, surpassing $50 million in a few months on the Frankfurt stock exchange.

The brokerage is currently headquartered in Limassol, Cyprus.

Naga Markets Europe Ltd operates under the Naga Group AG and is regulated by the Cyprus Securities and Exchange Commission (CySEC).

How Social Trading Works

Social trading allows investors to interact and share ideas with community members. Traders can also copy and execute the strategies of other users. This method of trading is useful for new starters who want to learn techniques and pick up tips from seasoned investors.

A social trader can choose to subscribe to another trader’s channel where their positions and strategies can be viewed. Users then have the option to automatically copy their trades 24/7.

Importantly, traders can still implement their own risk parameters and monitor portfolio performance in real-time, depositing and withdrawing funds as needed.

How Naga copy trading works
How copy trading on Naga works

How To Copy Trade On Naga

Follow these straightforward steps to start copy trading on Naga:

  1. Head to the leaderboard to find a trader to follow – you can check the number of followers, win rate, and other performance stats
  2. Click ‘autocopy’ – simply select the ‘autocopy’ button to start mirroring the positions and strategies of your chosen trader
  3. Monitor and manage – go to ‘My Trades’ to manage your investing activity. You can use a series of tools to set limits on the profit or loss you’re willing to accept

Assets & Markets

Naga offers over 1000 assets including Stocks CFDs, Stocks, Crypto CFDs, Indices CFDs, Forex CFDs, Commodities CFDs and Futures.

All available assets are derivatives except for Real Stocks.

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:

Naga mobile stock trading
Naga app

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:

Naga online platform
MetaTrader 4

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, the successor of MT4. It offers advanced features most suitable 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:

Naga reviews and ratings
MetaTrader 5

MT5 is available to download on Mac, Windows and as a mobile app on iOS and Android.

Fees

Spreads on Naga are variable with zero commission on most assets. Typical forex spreads are around 1.8 pips with a similar fee on indices (though spreads vary depending on the market). The commission on CFD trades is €2.50 (or currency equivalent) for an in/out transaction.

Naga charges a flat fee of €0.99 on all trades that are copied. Additionally, 5% is applied to trades with a profit equal to or larger than €10. This transparent fee structure makes it easy to track costs when copy trading.

Leverage Review

While using Naga, our experts found that members can check their account leverage in the Trading Accounts section. In compliance with regulatory requirements, leverage ranges from 1:1 to 1:30 for retail clients in the EU depending on the instrument.

Retail leverage limits by asset are as follows:

Note, traders registered with the global entity may be able to trade on higher leverage up to 1:1000.

Deposits & Withdrawals

Naga offers over 20 deposit and withdrawal methods. However, the options available will depend on the country you’re based in. Methods include:

All methods require a minimum deposit of $250 or equivalent. Maximum deposit requirements depend on the country you reside in.

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, withdrawal charges vary depending on the user level.

Maximum withdrawals depend on the payment method used.

VIP Accounts

Naga offers a choice of VIP trading accounts:

Demo Account

Prospective clients can use a free demo trading account. 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.

Naga trading establishment
Demo account

Tools & Education

The brokerage offers a range of free resources available to all traders. Tools include calculators, a blog, eBooks, webinars and a handy glossary.

In the Naga Learn hub, traders can also access lessons on key trading topics such as forex basics, Japanese candlestick charts and the Metaverse.

For those interested in copy trading, there are a number of resources designed to give a good oversight of what it can offer and how to get started.

Pros

While using Naga, we found there are several benefits to opening a live account:

Cons

Our experts also found several drawbacks to copy trading on Naga:

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.

The broker is also active on social media. Traders can view the latest updates and product announcements on Facebook, Instagram, Twitter, YouTube and LinkedIn.

Security

Client funds are held in segregated accounts with regulated EU banks. This ensures that funds are separated from company capital and helps to ensure they are not misused. The interface is also secured with firewalls and encryption protocols.

All accounts have the option to add multi-factor authentication at login for increased security.

Naga Verdict

Naga has a lot to offer. Users can copy trades from experienced investors across more than 1000 assets. The social trading broker offers MT4 and MT5 plus its web-based terminal that comes with a long list of features. Strong regulatory oversight from the CySEC and BaFin also adds to its trust rating. The only major drawback is the relatively high minimum deposit at $250.

Accepted Countries

For more information regarding the countries and/or jurisdictions that the Company offers services. Please visit NAGA’s official website https://naga.com/

Compare Naga

Compare Naga with similar brokers that accept traders from your location. Among available brokers these are the most similar to Naga:

  1. InstaForex – InstaForex is a CFD broker providing access to forex, stocks, cryptocurrencies, commodities, energies, indices, and more. With competitive fees and a huge range of available assets, the brand offers safe and reliable trading.
  2. IG Group – IG-US offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence.
  3. eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets. Crypto Trading is offered via eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply.79% of retail CFD accounts lose money.
  4. World Forex – World Forex offers commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.

Naga Comparison Table

Compare Naga With Similar Brokers
Naga InstaForex IG Group eToro World Forex
Rating 4.1 4.1 4.4 4.1
Markets Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto
Demo Account Yes Yes Yes Yes Yes
Minimum Deposit $250 $/€1 £250 $10 $1
Minimum Trade 0.01 0.01 Lots 0.1 lots $10 0.01 Lots
Regulators CySEC BVI FSC FCA, ASIC, MAS, FSCA, JFSA, FMA, CFTC, NFA, BMA, DFSA, FINMA, BaFin FCA, CySEC, ASIC, FSA SVGFSA
Bonus No 30% – 100% Welcome Bonus 100% Deposit Bonus
Education Yes No Yes Yes No
Platforms MT4, MT5 MT4, MT5 MT4 MT4, MT5
Leverage 1:30 (EU). Leverage also depends on the financial instrument traded and the trader’s location. 1:1000 1:30 None 1:1000
Payment Methods 12 11 6 14 10
Detailed Comparison Naga vs InstaForex Naga vs IG Group Naga vs eToro Naga vs World Forex
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Review Naga
Review
InstaForex
Review
IG Group
Review
eToro
Review
World Forex
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Compare Trading Instruments

Compare Naga Trading Instruments
Naga InstaForex IG Group eToro World Forex
CFD Yes Yes Yes No Yes
Forex Yes Yes Yes Yes Yes
Stocks Yes Yes Yes Yes Yes
Commodities Yes Yes Yes Yes Yes
Oil No Yes Yes Yes Yes
Gold Yes Yes Yes Yes Yes
Copper No No Yes Yes No
Silver No Yes Yes Yes Yes
Corn No No No Yes No
Crypto Yes Yes Yes Yes Yes
Futures Yes Yes Yes No No
Options No No Yes No No
ETFs Yes Yes Yes Yes No
Bonds No No Yes No No
Warrants No No No No No
Spreadbetting No No Yes No No
Volatility Index No No Yes Yes No

Naga vs Other Brokers

Compare Naga with any other broker by selecting the other broker below.

Naga vs

The most popular Naga comparisons:

  1. FXCM vs Naga

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?

The broker offers a high level of client security. Traders’ 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 leveraged CFDs. Also, there are no guarantees that the strategies you copy on the platform will generate returns.

Is Naga Trading Legit?

Naga is a legitimate broker that is regulated by the Cyprus Securities and Exchange Commission (CySEC), under license number 204/13. As a result, we’re satisfied the company is a respectable copy trading broker. The online brokerage is also overseen by the BaFin in Germany.

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 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. Note, spreads may widen during periods of low liquidity.

Naga is a social investing platform offering copy trading on major financial markets including CFDs and real stocks.
RISK WARNING: Derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage 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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