Naga Review and Tutorial 2021

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Naga Facts & Figures

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

InstrumentsForex, CFDs, indices, shares, commodities, cryptocurrencies
Demo AccountYes
Min. Deposit$250
Pay MethodsBitcoin Payments, Credit Card, Giropay, Mastercard, Neteller, Skrill, Visa, Wire Transfer
Min. TradeVariable
Regulated ByCySEC, FCA
MetaTrader 4Yes
MetaTrader 5Yes
cTraderNo
STP AccountNo
ECN AccountNo
DMA AccountNo
Mobile AppsiOS & Android
Auto TradingYes
Social TradingYes
Copy TradingYes
Trade SignalsYes
Islamic AccountYes
Account
Currencies
USD, EUR, GBP, CHF
CFD
Naga offers competitive trading conditions on a range of contracts for difference.
FTSE Spread1.6
GBPUSD Spread1.5
Oil Spread2.3
Stocks SpreadVariable
Leverage1:30 (Retail), 1:200 (Professional)
Forex

A long list of currencies with high trading volumes and liquidity are available.

GBPUSD Spread1.5
EURUSD Spread1.5
EURGBP Spread2.1
Assets48
Cryptocurrency

Naga offers an extensive selection of leveraged cryptos and accompanying strategies.

SpreadFloating
CoinsBTC, ETH, USDT, ADA, BNB, XRP, DOGE, USDC, DOT, UNI, ICP, BCH, MATIC, LINK, LTC, BUSD, XLM, SOL, ETC, VET, WBTC, THETA, EOS, TRX, FIL, DAI, XMR, AAVE, NEO, KLAY
Risk Warning – Your capital is at risk

Naga is a regulated social trading platform that allows clients of all levels to share and copy strategies on over 950 assets including forex, stocks and cryptos. Clients can use the broker’s proprietary copy trading platform or connect to the financial markets using the established MT4 and MT5. Our review breaks down leverage rates, fees, deposits, withdrawals, and more. Find out how Naga works today.

What Is Naga?

Naga is a social investing network that offers access to a wide range of copy trading features across an extensive portfolio of assets. One live account is available to all retail trading accounts. Members whose trades are copied receive immediate payment.

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 but has ten offices around the world including in India, South Africa and Mexico.

Naga Markets Ltd operates under the Naga Group AG and is regulated by the Cyprus Securities and Exchange Commission (CySEC). The European entity is licensed with the UK Financial Conduct Authority (FCA).

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.

How Naga copy trading works

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 Bitcoin trades, for example.

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

Markets

Naga offers over 950+ assets:

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 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:

Naga social trading
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 spreads on GBP/USD, for example, are 1.8 pip with a similar fee on indices. The only commission charges are on CFD stocks (0.20%) and ETFs (0.10%).

Naga charges a flat fee of €0.50 on all trades that are copied. Additionally, 5% is applied to trades with a profit equal to or larger than €5. This transparent fee structure makes it easy to track costs when copy trading.

Leverage

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 depending on the instrument. However, professional traders may access rates of up to 1:200 by contacting customer support.

Retail leverage limits by asset are as follows:

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, Naga charges a standard withdrawal fee of $5 or equivalent and the minimum withdrawal is $50.

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 copy trading

Pros Of Trading With Naga

Cons Of Trading With 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.

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. Additionally, all Naga 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 950 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 FCA also adds to its trust rating. The only major drawback is the relatively high minimum deposit.

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.

Accepted Countries

Naga accepts traders from Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use Naga from United States, Iran, Canada, Korea, Cuba, Syria, Iraq.

Alternatives to Naga

If you are looking for alternatives to Naga we have compiled a list of the top 5 brokers that are similar to Naga below. This list of brokers like Naga is in order of similarity and only includes companies that accept traders from your location.

  1. EagleFX – EagleFX is a popular trading broker offering forex, stocks, cryptos & commodities.
  2. eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
  3. LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
  4. ZuluTrade – Zulutrade provide multiple automation and copy trading options across forex, indices, stocks, cryptocurrency and commodities markets
  5. Just2Trade – Just2Trade offer hitech trading on stocks and options with some of the lowest prices in the industry
Naga is a social investing platform offering copy trading on major financial markets including cryptocurrencies and stocks.

Naga vs Other Brokers

Naga vs