NAGA Review 2023

2.8
/ 5
NAGA is #109 in our CFD broker rankings.
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.


Trusted

Demo Account

Copy Trading

Beginner Friendly
$250
MT4, MT5, eSignal, AlgoTrader, TradingCentral
CFDs on forex, indices, shares, commodities, cryptocurrencies, real stocks and futures
-
USD, EUR, GBP, PLN
Wire Transfer, Credit Card, Bitcoin Payments, Neteller, Mastercard
and 7 more

Forex Trading

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

Stocks Trading

NAGA offers over 400 equities including big names like Apple and Netflix.

CFD Trading

Naga offers competitive trading conditions on a range of contracts for difference.

Crypto Trading

Trade popular crypto tokens against the US Dollar (with NAGA Markets Europe Ltd)

Copy Trading

NAGA is a leading copy trading platform offering low fees and exposure to thousands of experienced traders and hundreds of different instruments.

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

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.

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/

Payment Methods

NAGA Details

Minimum Trade 0.01
Regulated By CySEC
Account Types
  • Demat
Islamic Account Yes
Mobile Apps iOS & Android
Margin Trading Yes
Volatility Index No
Spot Trading No
Perpetual Swaps No
ELWs No
REITs No
AI / Machine Learning No
Robo Advisor No
P2P Trading No
Negative Balance Protection Yes
VPS Hosting No
Tournaments Yes
Demo Competitions No
Managed Accounts No
Market Maker Yes
Auto Trading Yes
Social Trading Yes
Trade Signals Yes
Inactivity Fee 0
Guaranteed Stop Loss No
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
  • Silver

CFD Trading Details

FTSE Spread Variable
GBPUSD Spread Variable
Oil Spread Variable
Stocks Spread Variable
Leverage 1:30 (EU). Leverage also depends on the financial instrument traded and the trader’s location.

Forex Trading Details

GBPUSD Spread Variable
EURUSD Spread Variable
EURGBP Spread Variable
Assets 48

Cryptocurrency Trading Details

Crypto Spread Variable
Crypto Lending No
Crypto Staking No
Crypto Mining No
Crypto Auto Market Maker No
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

Compare NAGA

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

  1. OANDA – OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is authorized by leading regulators, including the CFTC/NFA. Around the clock support is available, alongside flexible contract sizes and automated trade executions.
    Go to OANDA
  2. Webull – Webull is a US-regulated trading app that offers stocks, options, forex, cryptos, ETFs, fractional shares and more. The firm is authorized by the SEC and FINRA with a strong trust rating. Low fees, no minimum investment and generous bonuses have made the discount broker popular with online investors.
    Go to Webull
  3. Forex.com – Forex.com boasts a global reputation with multiple awards and 20+ years experience. Regulated in the US, EU, UK and Canada they offer a huge range of markets, not just forex, and offer competitive fees on a cutting-edge platform. The brand also provides a suite of additional tools, from performance analytics and SMART Signals to advanced charts and strategy builders.
    Go to Forex.com

NAGA Comparison Table

Compare NAGA With Similar Brokers
NAGA OANDA Webull Forex.com
Rating 2.8 4.5 4.4 4.5
Markets CFDs on forex, indices, shares, commodities, cryptocurrencies, real stocks and futures Forex Stocks, ETFs, options, cryptos, forex, ADRs, fractional shares, OTCs Forex, CFDs, Stocks, Indices, Commodities, Cryptos, Futures, Options
Demo Account Yes Yes Yes Yes
Minimum Deposit $250 $0 $0 $100
Minimum Trade 0.01 $0 $5 $1
Regulators CySEC CFTC, NFA SEC, FINRA CySEC, IIROC, NFA, CFTC, FCA, CIMA, CIRO
Bonus $5,000 welcome bonus with a deposit of $500 Six free stocks
Education Yes Yes Yes Yes
Platforms MT4, MT5, AlgoTrader, TradingCentral MT4, TradingView, AutoChartist MT4, MT5, TradingView, AutoChartist, TradingCentral
Leverage 1:30 (EU). Leverage also depends on the financial instrument traded and the trader’s location. 1:30 EU, 1:200 Global 1:200
Payment Methods 12 12 3 8
Visit Visit Visit Visit
Review NAGA
Review
OANDA
Review
Webull
Review
Forex.com
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 OANDA Webull Forex.com
CFD Yes No No Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes No Yes
Oil No No No Yes
Gold Yes Yes No Yes
Copper No Yes No No
Silver Yes Yes No Yes
Corn No Yes No No
Crypto Yes Yes Yes Yes
Futures Yes No No Yes
Options No No Yes Yes
ETFs Yes No Yes No
Bonds No Yes No No
Warrants No No No No
Spreadbetting No No No No
Volatility Index No No No No

NAGA vs Other Brokers

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

NAGA vs

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.

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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