NAGA Review

NAGA

Naga is an online broker and a fintech company with the vision of financial inclusion for everyone. It is a social investing network that provides innovative technology and access to trade over 500 assets on its cutting-edge platforms. Founded in 2015, NAGA is the trademark of the ‘NAGA Group AG’ which has its head office in Germany and other offices across the world. Its shares are publicly traded on the Frankfurt Stock Exchange. The broker boasts of a social network with over 500,000 accounts.

Join Now

Regulation and Security

NAGA is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC). Client’s funds are held in segregated bank accounts maintained with the top European banks. NAGA clients are further protected by the Investor Compensation Fund (ICF) which insures client funds up to €20,000 if in the future NAGA goes bankrupt. All trading platforms and website is protected via secured socket layer (SSL) encryption.

Available Trading Instruments on NAGA

NAGA provides its clients access to trade over 750 instruments in the following asset classes:

  • Forex
  • Cryptocurrencies
  • Indices
  • Stock CFDs
  • Futures CFDs
  • Commodities
  • ETFs
  • Real stocks: tradable from 9 global exchanges

Account Types and Trading Conditions

NAGA is a global broker that accepts clients from all over the world except clients from a few countries like USA, Iran, North Korea, Cuba, Iraq, Syria and Canada.

You can create an account in 4 steps:

  • Fill the online form
  • Verify your account by providing a government issued ‘ID card’ and a ‘proof of residence’
  • Fund the account using any of the multiple account funding options.
  • Download your platform of choice and commence trading.

Upon registration, clients are given access to a demo account preloaded with $2,500. Up to 5 fiat account currencies are available: USD, EUR, GBP, PLN, CHF and 4 crypto account currencies.

NAGA does not designate various account types like other brokers, rather it rewards it clients with levels as follows:

  • Iron trader: The spread on the benchmark EURUSD starts from 2.5 pips, maximum leverage is 1:1000 and minimum deposit is $250.
  • Bronze trader: Spread is 2.3 pips while minimum deposit is $2,500.
  • Silver trader: spread is 1.9 pips while the minimum deposit is $5,000,
  • Gold trader: Spread is 1.7pips while the minimum deposit is $25,000
  • Diamond trader: Spread is 0.9 pips while minimum deposit is $50,000
  • Crystal trader: VIP spread like 0.7 pips on EURUSD while minimum deposit is $100,000

A maximum leverage of 1:1000 is available on all levels. Retail traders from Europe are restricted to a maximum of 1:30 as imposed by ESMA.

Payment Options

NAGA does not charge deposit fees. The minimum deposit accepted is $250. The following payment methods are available:

NAGA Card

This is a prepaid MasterCard issued by NAGA but can be used to withdraw from any ATM across the world. It is integrated with the NAGA trading account and clients can use it to fund and withdraw from their accounts.

Bank wire transfer

NAGA lists about 29 banks from several countries that can be used in receiving clients’ deposits. Bank transfers take 2-7 days depending on the client’s country and bank used but NAGA processes funds immediately.

Credit/Debit cards

Visa, MasterCard and Maestro are the accepted cards. Deposits are processed instantly.

Online Payments

Several e-wallets, online banking platforms and e-payment gateways are supported. Some of them are:

  • Sofort
  • Neteller
  • Skrill
  • Giropay
  • EPS
  • P24
  • Trustly
  • SPEI transfer

Trading Platforms

NAGA offers the following trading platform to all its clients:

MT4

This is a very popular platform that is versatile, sophisticated and scalable. It was developed in 2005 by ‘MetaQuotes Corp.’ which is a software company based in Cyprus. It comes with 30 technical indicators, 4 pending order types, etc. The platform features can be expanded through plugin apps designed with the MQL4 programming language. The platform is available on windows and MacOS computers and on mobile phones; android and iOS.

MT5

This platform was designed in 2010 by the same company to replace the MT4 but due to compatibility issues, it has not replaced the MT4. The MT5 comes with all the features of the MT4 including some expansion to its capabilities. It comes preloaded with 38 technical indicators, 6 pending orders, inbuilt economic calendar, etc. Just like the MT4, it supports automated trading via expert advisors (EAs) and available on mobile and desktop platforms.

NAGA Web App

This is the broker’s proprietary social trading platform that supports the trading of over 500 instruments. Through its Auto copying feature, traders can replicate the trades of expert traders at a fee. It features the ‘NAGA Feed’ which streams the latest market news.

NAGA mobile apps

These are free android and iOS apps which give NAGA clients access to trade forex, stocks and CFDs while on the move. It also supports NAGA social trading feature, order management and account management. Deposits and withdrawals are available from the app.

Trading and analysis tools

The following tools are available:

NAGA Price alerts

This customizable tool alerts a trader when the price goes up or down. It eliminates the need to constantly monitor the charts. Just set up the price alert and be notified on your mobile or platform when the market moves.

NAGA Protector

The NAGA Protector is a risk management tool that helps a trader to accurately and automatically secure profits and limit losses on trades. You can set up Take Profit and Stop Loss limits for free.

NAGA Stocks

Apart from stock CFDs, NAGA also offer real stock trading to its clients. This service charges zero commissions and no hidden fees. About 364 global zero-commission stocks drawn from 9 exchanges are available. This service is available on all platforms except the MT4.

NAGA Wallet

This is a free crypto wallet for storing cryptocurrencies. It supports multiple sending and receiving of cryptocurrencies. Clients can buy cryptocurrencies like Bitcoin, Ethereum, NAGA coin, etc with credit cards.

NAGAX

This is a cryptocurrency exchange powered by NAGA. It features a simple interface for trading cryptocurrencies at low fees.

NAGA Autocopy

The ‘Leaderboard’ shows the performance statistics of the expert traders who are the signal providers. Other traders view the leaderboard, make a choice of whose trades to copy and click the ‘Autocopy’ button. The trader is still in control and can set the Autocopy ratio, amount, etc. Expert traders can also make some money when their trades are copied. Other social trading tools are:

  • NAGA Feed: This is a publishing platform available to every trader. You can publish your signals, opinions; share your story, etc for other traders to read. Already NAGA asserts that over 500,000 traders are already benefiting from NAGA News Feed.
  • NAGA Messenger: This is a messaging platform where traders can add friends, message directly and also create group and public charts.

NAGA Signals

This is designed for experts who wish to provide signals and earn from it. The traders earn $0.1 when another trader copies their signal. You can also message your followers through NAGA Messenger or NAGA Feed.

Customer Support

The customer support team is available 24/5 via various channels such as online web chat, telephone lines and email. On social media, the client desk can be reached on facebook, Instagram, twitter, YouTube and LinkedIn.

Research and Education

Free daily news and trading signals: NAGA feed provides its clients with the latest market news and updates.

NAGA academy:

The academy is made up of video lessons, articles and tutorials. Webinars are frequently scheduled to assist the traders with analysis and general trading knowledge.

Conclusion

NAGA is a global broker that offers innovative solutions and over 500 trading instruments on cutting edge platforms. The broker provides charting tools, market sentiments, social trading, low trading fees and lightening fast trade executions. Traders can fund their accounts through several methods including bank transfers, debit/credit cards, e-wallets and NAGA customized cards. Traders have multiple platform choices such as MT4, MT5 and the NAGA Web app; all the platforms also have mobile versions. There are several tools to support the trader which includes market news, an economic calendar, price alerts, and much more, making NAGA a great choice for trading.