NAGA Review 2024


2.8 / 5
NAGA is #107 in our CFD broker rankings.

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.

- Daytrading Review Team
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 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.

$250
NAGA Platform, MT4, MT5, TradingView
CFDs on forex, indices, shares, commodities, cryptocurrencies, real stocks and futures
-
USD, EUR, GBP, PLN
Wire Transfer, Mastercard, Visa, Credit Card, Bitcoin Payments, Skrill, Giropay, Neteller, Vietcombank Transfer, iDeal, Ethereum Payments, Maestro
Forex Trading

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.

Stock Trading

My tests uncovered over 400 real stocks and CFDs from US, UK and European markets, including big names like Apple and Netflix. Traders can invest in stocks from $3. I’m also a big fan of the corporate actions and earning calendar, as well as the regularly updated blog section.

CFD Trading

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.

Crypto Trading

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.

Copy Trading

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.

✓ Pros

  • NAGA is an established firm with over 1 million traders and a public listing on the Frankfurt Stock Exchange. It’s also reassuring to see CySEC regulation at the European branch
  • I enjoyed using the broker’s user-friendly proprietary copy-tading platform and dashboard, especially the live social feed, Academy section and leaderboard
  • I like that deposits are fee-free and are available in a range of methods including credit cards, local bank transfers and e-wallets
  • I’m pleased to find a range of account tiers at NAGA with attractive rewards and minimum deposits starting from $250
  • I found reasonably low copy trading fees at NAGA, starting from $0.99 + 5% for profits over $10

✗ Cons

  • I was disappointed to find withdrawal fees for all methods, starting from $5 for basic account holders. The minimum withdrawal amount is also higher than average at $50
  • Whilst still accessible to beginners, I think the $250 minimum deposit is still a bit higher than average

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) and the Seychelles Financial Services Authority (FSA).

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

The platform 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 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 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 the platform, 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.

FAQ

How Do I Open An Account With NAGA?

Opening an account 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 other 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.

Top 3 Alternatives to NAGA

Compare NAGA with the top 3 similar brokers that accept traders from your location.

  1. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
    Go to IG
  2. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage for experienced traders, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
    Go to Interactive Brokers
  3. Scope Markets – Scope Markets offers day trading and investing in multiple spot and CFD instruments. The group of brokers is regulated in several locations, including Belize, Kenya and South Africa. Users get competitive trading conditions, a range of payment methods, strong support and can get started in a few straightforward steps.
    Go to Scope Markets

NAGA Comparison Table

Compare NAGA With Similar Brokers
NAGA IG Interactive Brokers Scope Markets
Rating 2.8 4.4 4.3 4.2
Markets CFDs on forex, indices, shares, commodities, cryptocurrencies, real stocks and futures CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies Forex, CFDs, Stocks, Commodities, Indices, Futures
Demo Account Yes Yes Yes Yes
Minimum Deposit $250 $0 $0 $50
Minimum Trade 0.01 Lots 0.01 Lots $100 0.01 lots
Regulators CySEC, FSA FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA FCA, SEC, FINRA, CBI, CIRO, SFC, MAS, MNB CMA, FSC, FSCA
Bonus 50% Deposit Bonus Up to $50,000. *Bonus promotions do not apply to all entities. Depending on the jurisdiction chosen to open an account with, different regulations apply.
Education Yes Yes Yes Yes
Platforms NAGA Platform, MT4, MT5, TradingView Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral Trader Workstation (TWS), Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral Scope Trader, MT4, MT5
Leverage 1:30 (EU). Leverage also depends on the financial instrument traded and the trader’s location. 1:30 (Retail), 1:250 (Pro) 1:50 1:2000
Payment Methods 12 6 6 8
Visit Visit Visit Visit
Review IG
Review
Interactive Brokers
Review
Scope Markets
Review

Compare Trading Instruments

Compare the markets and instruments offered by NAGA and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare NAGA Trading Instruments
NAGA IG Interactive Brokers Scope Markets
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes No Yes
Gold Yes Yes Yes Yes
Copper Yes Yes No No
Silver Yes Yes No Yes
Corn No No No No
Crypto Yes Yes Yes Yes
Futures Yes Yes Yes Yes
Options No Yes Yes No
ETFs Yes Yes Yes Yes
Bonds No Yes Yes No
Warrants No Yes Yes No
Spreadbetting No Yes No No
Volatility Index No Yes No No

NAGA vs Other Brokers

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

 

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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. 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