Check Our NAGA Reviews 2022 Now

In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focus on how long the broker has been in business, the size of the company, and how transparent they are in terms of information being readily available. Visit our methodology page to learn more about our review oanda forex review and rating process. He worked as an arb clerk on the floor of the Chicago Mercantile Exchange , flashing orders into the currency futures pits. NAGA web app does not have one-click trading or trailing stop-loss orders. NAGA Europe is fully supervised and regulated by the Cyprus Securities and Exchange Commission .

NAGA’s minimum deposit requirement of $250 is the probably the only drawback traders complain about this trading platform. It sure is hefty but looking on the bright side, the amount of $250 is a good capital starting point to begin your trading journey. The same deposit and withdrawal options are available at Naga, including bank transfers and your own Naga MasterCard.

This modern platform has an easy-to-use intuitive interface to help ensure that you can enjoy a user-friendly experience without any hassle. They will also release the crypto wallet feature in Naga Pay in 2022. If you want to deposit more into your account, verify your identity and residence by providing your ID and a utilities bill.

Some CFDs have minimum order size limits of 1 lot and maximum order size limits of 1000 lots. NAGA offers a swap-free Islamic account that adheres to the principles of Sharia law. A stock is a security that represents partial ownership of a corporation. Keep in mind that when trading stock CFDs, you speculate on the price of a stock without actually taking ownership of the underlying company. MT5 also allows users the convenience of trading directly from the chart.

Of greatest interest is the NAGA trader platform with a huge number of different social trading functions and a social network. NAGA positions itself as a social network, the investment platform of which allows traders of all levels to invest in various financial markets and cryptocurrencies. Forex brokers are also known as retail forex brokers or currency trading brokers. Retail currency traders in turn use these brokers to gain access to the 24-hour currency market for speculation purposes. Fees, minimum deposit requirements, withdrawal, account opening, research tools and more. We use over 50,000 data points and a consistent, fact-based methodology.

The broker managed to establish itself as one of the best brokerage companies in the Forex industry and is a decent FX company. Regardless of which way you opt to pay, the minimum deposit is $250. However, you should not attempt to deposit your account until your identity and payment method have been verified and approved by NAGA. Getting all three of these sorted first will save a headache later. Your ID documents also need to be verified before you can make a withdrawal.

NAGA com Trading Instruments

Spreads are the difference between the market price and the quoted buy or sell price of the CFD. These vary depending on the instrument you buy, and can change day to day. For crypto CFDs these vary as widely as 0.035 pips to 300 pips in extreme cases. Naga AG was founded in 2015 in Germany by Benjamin Bilski, former World Games bronze medalist swimmer. They are now a publicly traded company on the German Stock Exchange with market cap of 289 million Euro at the time of writing.

In this section, we check the broker’s market offering and how varied the instruments and asset classes are. It will allow you to check if they offer what you’re looking for and what you can trade. For example, NAGA clients in the European Union benefit from the oversight of the CySEC. Negative Balance Protection has been implemented by the European Securities Market Authority , which means that clients cannot lose more than their deposit. When trading forex and CFDs, it is crucial to know a broker’s strengths and weaknesses.

We look for specific features such as customizability and trading signals. We also use different external services like Google Webfonts, Google Maps, and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here.

However, allegedly, the most popular tier is Gold, and it has the best mix of features and trading conditions to suit most people. However, the minimum deposit is a hefty $25,000, so you may wish to test the water with Iron Trader and a $250 minimum deposit first. But bear in mind that it’s fantasy money, and even the best demos are but pale imitations of the real thing.

Broker Reviews

This information will allow you to know if a broker can provide full support when you need it. To conclude, the MetaTrader 5 desktop platform is one of the most feature-rich and popular trading platforms globally. It does not have the most beautiful interface, and it does require some time and effort to learn, but that is typical of advanced platforms.

Furthermore, NAGA broker keeps all of its clients’ funds on segregated accounts, as well as per regulatory requirements. NAGA also supports Negative Balance Protection for all traders registered on the broker’s platforms. However, since the broker is not authorized in every region worldwide, the traders from the USA, Canada, Israel, and the Islamic Republic of Iran cannot access the brokerage services offered by NAGA. The fact that the new users can also gain the confidence of trading by copying trades from the established ones is a great way to encourage mass participation.

Trading Platform

We didn’t like that you can’t use biometric authentication to log in to the app. Most brokers have this function (e.g. via fingerprints or FaceID) to save you from having to type in your password every time, making it a convenient feature. Here is a screenshot of the NAGA quotes during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads. In 2017, the company completed its initial public offering on the Frankfurt Stock Exchange, making it the most successful one that year.

Furthermore, stop loss and take profit limits functionalities are integrated within the NAGA Auto copy to secure the clients’ accounts against potential losses. NAGA offers clients several methods to withdraw and deposit funds. The fact that the interface is user-friendly attracts all kinds of users to the platform. The variety of trading instruments is another point that the users can enjoy. The NAGA Academy provides guidance on online trading through webinars, videos, and tutorials. It also conducts offline training through workshops, seminars and classes in financial trading, virtual goods trading/economy, fintech technology, and cryptocurrencies.

Is NAGA safe or a scam?

As a NAGA Popular Investor, you can earn up to 100K/month when being auto copied by other traders on the NAGA platform, thanks to the Popular Investors’ Fund. These webinars cover a range of trading topics from technical & fundamental analysis, market outlook and more. Autocopy will always be active unless you choose to pause it or the master trader stops conducting trading activity. The NAGA Autocopy tool is ideal for those of you who are interested in copy trading. You can use it to find another trader you want to copy from the leader board, and mirror their trading activity in just a few clicks. NAGA provide you with a variety of standalone and integrated trading tools to assist with performing trade operations.

The Naga Review reveals to us a broker who prioritizes the development of trading innovation and excellent technological capabilities. In addition to the regulatory obligations that Naga must fulfill, the company strikes us as a good option for a brokerage firm and might even prove to be a friendly partner in your trading journey. Join our stock & crypto trading social network with over 1 million users.

Naga app

When the traders switch from a demo account to a live account they are entitled to switch back anytime and vice versa. 74-89% of retail investor accounts lose money when trading CFDs. You should ensure you are aware of the risks involved most traded currencies in trading and if you can afford to take the high risk of losing your money. The broker offers over 900 trading instruments for trading to customers. We can note crypto trading, commodities, Forex, indices, stocks, and ETFs.

NAGA enables trading and investing in multiple markets all over the world from whatever device or platform you prefer. NAGA does not offer a bonus but offers awards depending on the level you have reached. With NAGA you may access flexible leverage that allows you to control and manage risks better according to your trading style. As for other instruments, there could be commissions charges for some assets which you will find directly from the platform. The cost of trading depends on different factors like commissions, spreads, and margins. There are no account fees, no commission or interest is charged.

For the purposes of this review, we found the live chat support responsive and polite, and they were able to answer most of our questions to our satisfaction. NAGA presents traders the choice between the industry-standard MT4 and MT5 products, in addition to its own proprietary web app. NAGA offers four base currencies, which is limited compared to other similar brokers.

We may receive compensation when you click on links to products we review. Trading crypto pairs is a form of derivative – which means you do not actually own the underlying asset. However, NAGA does allow you to purchase crypto directly to store in your wallet.

NAGA com profile provided by nagainvesting, Jan 19, 2021

This can help as part of fundamental analysis and keep traders up to date with the latest market movements. Forex trading, also called currency or FX trading, involves the currency exchange market where individuals, companies, and financial institutions exchange currencies for one another at floating rates. Trading with NAGA on MT4 lets you trade in a familiar platform, while still allowing NAGA users to copy your trading activity that is synced to your NAGA profile. Such what is gdax a bonus is but a way to compensate traders for choosing a certain broker, since once the account is opened, the trader will have the same expenses as any other. Since NAGA is a European broker, the company offering fully complies with ESMA restrictions, therefore, falls under recent updates to use lower leverage levels. The facility that enables a trader to get a much larger exposure to the market than the amount he or she deposited to open a trade, is called leverage.

FXTM Islamic Account

While each of these fees are used by some other brokers, and the rates for the fees are normal for the industry, the number of fees levied by the platform is very high when compared to other brokers. Since that time Naga has pivoted to focus on their social network and broker platform which they brand as a Neo-brokerage platform. Their company vision is to be the home screen app for finance for customers of tomorrow. For example trading with cryptocurrencies is riskier than the other options. Users should be aware of the fact that there is no 100% winning strategy in trading, but they can always minimize risks by applying correct trading methods and use guiding principles set by the broker.