NAGA is a global stock and CFDs brokerage firm based in Germany. The publicly listed regulated broker operates through its regional offices worldwide and accepts clients from almost all parts of the world, excluding a few jurisdictions. With its rich product portfolio, user-friendly trading platforms and multiple account types, it endeavours to become a preferred choice for both newbies and veterans.
This Naga review will deeply explore the broker’s trading instruments, fees and commissions, available payment methods, regulations, and safety measures. Furthermore, we will delve into the broker’s custom-built and third-party platforms, desktop and mobile apps and 24×7 multilingual customer support. Besides explaining how to open an account and trade with NAGA, we’ll also share what people think of the company on platforms like Reddit and Quora.
- CySEC Regulations
- Multi-National Brokerage Firm
- Proprietary Trading Platform
- Real Stock Listing
- Rich Educational Resources
- NAGA Wallet
- No UK & US Clients
- Higher Spreads
- Average Customer Support
NAGA supports seven asset classes having 700+ tradable assets in its product portfolio. This section will review the supported asset classes to find how many financial instruments are available under each category.
Investment in stocks refers to holding a proportional interest in a company. Shareholders receive dividends in proportion to the number of shares they own. Many private investors’ holdings are “real stocks,” traded primarily (but not exclusively) on stock exchanges. At NAGA, Clients can trade 475+ stock CFDs and 370+ real stocks like Tesla, Gamestop, Netflix, etc.
If you want to keep tabs on the overall growth or decline of a specific category of investments, you can use an index. While the company supports 12+ indices, the S&P 500 Index and the Dow Jones are some of the market-capture broad-based indexes available at your disposal.
Trading currencies takes place over a global electronic network. While there is no one physical location for the forex market, it is the world’s largest and most liquid market. With NAGA, you can access 45+ forex pairs, including majors, minors and exotic.
Products like oil, sugar, and wheat found in nature and harvested for human use are examples of commodities. Trading commodities give your portfolio the diversity it needs by allowing you to invest in uncorrelated asset classes. NAGA supports 5+ commodities.
Cryptocurrencies are distinguished from traditional currencies because they are not issued by a centralised body, making them theoretically resistant to government intervention or manipulation. Investors find them quite appealing for their decentralised nature and high volatility. Though buying or selling real crypto coins isn’t available at NAGA, you can still trade the 25+ cryptocurrencies through CFDs.
Exchange-traded funds (ETFs) are a type of instrument consisting of a portfolio of stocks or other securities that invests in one or more industries or employs one or more investment methods, typically intending to track the performance of an underlying index. Unlike mutual funds, ETF shares trade continuously throughout the day. NAGA has 15+ ETFs on its product listing in this category.
Futures trading is a fascinating investment activity for financiers since it provides a wide range of approach options. These are derivative contracts specifying a commodity asset or index’s price and future delivery date. With NAGA, you can access 15+ most actively traded futures, such as FTSE 100, NIKKEI 225, DOW 30, etc.
Stock Trading at NAGA
While stock trading refers to any purchase and sale of stocks, it is typically used to describe more speculative activities of investors. Investment in stocks is a terrific option to diversify a portfolio. When you spread your investments over multiple companies and industries, you disperse your risk and put yourself in a better position to benefit from market growth.
Stock trading is sometimes called a riskier form of investment. You may have trouble making a deal if you wish to purchase or sell shares of a stock that has a low trading volume. The cost of a transaction could also increase in such scenarios. However, stocks with big, medium and even some tiny market caps have sufficient trading volume for most individual investors. This section of Naga review will explore the stock exchanges, stock commission and leverage.
Available Stock Exchanges at NAGA
Those who purchase a company’s shares are deemed co-owners of the business and thus entitled to a dividend payment out of the company’s earnings. However, this additional advantage is unavailable to stock traders who engage in CFDs rather than buying real shares. Naga facilitates investing in real shares and trading stock CFDs listed on major stock exchanges worldwide. Below, we have compiled a list of stock exchanges where you can and select your preferred stocks using NAGA.
|United States of America
||New York Stock Exchange
|American Stock Exchange
|Miami Stock Exchange
|Philadelphia Stock Exchange
||Six Stock Exchange
|Vancouver Stock Exchange
|Canadian Securities Exchange
|Alberta Stock Exchange
|TSX Venture Exchange
||Shanghai Stock Exchange
|Shenzhen Stock Exchange
||Tokyo Stock Exchange
||Korean Stock Exchange
||Bombay Stock Exchange
||Taiwan Stock Exchange
||Thailand Stock Exchange
|London Stock Exchange
Stock Trading Fees & Commission at NAGA
The standard commission for stock trades is 0.20%. However, VIP account members only pay 0.10% for trading stocks.
Stock Trading Leverage at NAGA
Leverage refers to margin-based trading. With the help of leverage, investors can take on more risk in the market without risking their own funds. Depending on the financial instrument, the firm offers maximum leverage of up to 1:10 for stock trading, though it may differ for European and Non-European clients.
Despite being a well-reputed stock trading firm operating through its subsidiaries worldwide, NAGA doesn’t hold too many regulations. Cyprus Securities and Investment Commission is the sole regulator that oversees the company. We will review all the information you need about the company, its subsidiaries, their licence number and address below.
NAGA Markets Europe Ltd: This entity is authorised and regulated by the Cyprus Security Exchanges Commission (CySEC). The official address of the company is Ariadnis 7, Moutagiaka 4531 Limassol, Cyprus.
- Company Licence No.: 204/13.
NAGA Global (CY) Ltd: This entity is located at Eurosure Tower, 3rd Floor, 2112 Nicosia, Cyprus.
NAGA Technology GmbH: The German unit is located at Neustadter Neuer, Weg 22, 20459 Hamburg.
NAGA Global (SV) LLC: The official address of this entity is First Floor, James Street, Kingstown, St. Vincent & the Grenadines, VC0100.
Fees and Commissions
In exchange for their services, brokers usually demand compensation from their customers. Singing up with NAGA has the same effect. When working with the broker, customers may count on paying various fees, some related to trading activities, while others pertain to non-trading concerns. Below we review both trading and non-trading fees separately to help you understand them better.
Commissions, overnight swaps, and spreads are all components of the trading fee. Let’s get into the details of each of them below.
Most of the broker’s revenue comes from spread charging. The company applies a minimum spread on currency pairs and that depends on the account type. The Iron account type has a starting spread of 1.7 pips on EUR/USD, while the Crystal account type has a 0.7 pips minimum spread on EUR/USD.
Commissions only apply to stocks trading at NAGA. A 0.20% of the trade’s notional value is charged as a commission, though it is reduced to 0.10% for VIP clients. Since the company supports social trading and clients can replicate trades of professional traders into their accounts, a copy trading fee of up to 10 € or equivalent is also charged.
Rollover Rate/Swap Charges
Holding overnight positions will also result in swap charges at NAGA. The company hasn’t listed the relevant rate applied to overnight positions. Therefore, you must ask the broker directly.
Deposit and withdrawal fees, foreign currency translation costs, and account management fees are all examples of what are known as “non-trading expenses.” Here is a quick review of each of them below.
Deposit and Withdrawal Fee
The company doesn’t charge any fee on deposits. Therefore, clients can fund their account using their preferred payment method without worrying about the associated fee. While clients get free deposits, NAGA charges $5 on withdrawals.
There is no account inactivity fee applicable. Dormancy clients can resume trading whenever they like without paying any penalty.
NAGA offers six account types: Iron, Bronze, Silver, Gold, Diamond, and Crystal. Here is a quick review of each of the account types.
NAGA offers a demo account to enable clients to practise various money and risk management strategies without risking their real funds. The virtually funded demo account comes with a $10,000 deposit and remains valid for one month.
This account comes with a minimum deposit of $250. It is designed for small traders relatively new to the industry. While the company offers free access to trading signals and live webinars to account holders, it also allows them to earn for their copied trades.
Clients can sign up for the account with a minimum deposit of $2,500. While all other services offered in the Bronze account appear identical to those available in the Iron account, clients enjoy low withdrawal fees and access to PI Dashboard – a new feature recently introduced by NAGA.
Low spread cost and increased commissions on copy trades are the apparent benefits of opening a Silver account at NAGA. The silver account typically targets medium-range traders. You can have it for a minimum deposit of $5,000.
It is one of the most famous account types at NAGA. The company offers it with a minimum deposit of $25,000. While the Naga spreads on major currency pairs like EUR/USD start as low as 0.9 pips in the Gold account, clients can earn a commission of up to $0.80 on every trade other traders copy. Moreover, Gold clients also enjoy one-to-one trading sessions with the brokker’s expert professionals and free access to e-Books.
The Diamond account comes with a minimum deposit of $50,000 and is offered to most experienced traders. While the spread on currency pairs like EUR/USD starts at 0.7 pips, clients earn a commission of up to $1.00 for allowing other clients to replicate their trades. Additional features include access to premium contests and two one-to-one trading sessions with the company’s expert traders in a month.
This is the top-of-the-line account reserved for VIP clients. In addition to accessing all the perks and benefits offered to any account holders, Crystal clients enjoy the lowest spreads on currency pairs and earn maximum reward on their copied trades. Further, no withdrawal fee is applicable to Crystal account holders. However, the least deposit amount to sign up for the crystal account is quite high. You must have a capital of $100,000 to access the crystal account.
Note: Unfortunately, the company doesn’t offer swap-free accounts. Therefore, shariah practising clients might need to look for an alternative.
NAGA provides both in-house and third-party trading platforms to cater to the needs of individual investors. A custom-built proprietary trading platform and the undisputed leaders in the field, MT4 and MT5, are just some of the choices available. Both desktop and mobile users have universal access to all Naga platforms or Naga trading platforms. Let’s review what each channel offers and how we can use it.
The broker’s proprietary desktop platform comes with a sophisticated design and user-friendly interface for those who prefer accessing the market from the comfort of their desktops. Enabling clients to copy trades made by other members and set price alerts, the platform provides various features in addition to the standard tools accessible via MT4 and MT5. Furthermore, users can customise the platform in their preferred language as it supports nearly ten international languages. Here are the features of the desktop platform below.
Clients can explore the Top Traders leaderboard on NAGA and decide which trader they want to copy based on their risk appetite.
Copy Trading Signals
Every trader gets access to copy data and the top signal provider. Once the chosen trader is linked to the account, his trades get automatically copied to your account in real time.
Market News Feed
You can get a leg start on the market and discover trading inspiration by monitoring the NAGA feed for the newest market information.
The NAGA’s desktop platform also functions as a messaging network. Clients can talk to one another, discuss market analysis, and learn about company updates.
How to Open an Account with NAGA on a Desktop Trading Platform
In this part of the review, we will provide a detailed step-by-step guide on creating an account and trading with NAGA.
- Visit the broker’s official website and click the “Sign Up” button at the top-right corner of the website.
- Enter your email address and choose a password.
- Provide your name, username, and phone number, and enter the code you received on your mobile number to verify it.
- Click on open Real NAGA Account to proceed further.
- Enter your personal details, including your name, date of birth, and nationality.
- Confirm your tax status and that you’re neither a US resident nor obliged to pay US taxes. Image 15
- Confirm your residential address, and provide details of your street, city, province, and postal code.
- Complete the investor profile and provide details of your estimated annual income, source of funds, and how much you intend to invest with the company.
- Select your account’s base currency and mark your agreement to the terms and conditions.
- Complete the KYC process and submit the supporting documents, such as a copy of your National ID Card/Passport/Driving License, a Utility bill/Bank statement.
- Click on the manage funds tab from the side navigation panel and select your preferred payment method, i-e Debit Card, Credit Card, Paypal, GiroPay, FASA Pay, Bank transfers, etc.
- Confirm your payment details and authorise your transaction.
- After receiving funds in your account, click on the discover tab and choose the stocks category to view the available shares.
Note: Clients have the option to buy real shares or trade them as CFDs at NAGA.
Mobile Trading App
All the features offered in the desktop version are also available via NAGA’s mobile trading app. The mobile trading app is compatible with all Android and iOS-based mobile phones and tablets. Clients may trade whenever and wherever they like. Investing in the stock market, interacting with other traders on NAGA Messenger, and Auto Copying the best investors is as easy as clicking a few tabs from the power of your fingers. Let’s review the features of the NAGA app or Naga trading app below.
The sleekly designed user-interface of the mobile trading app enables clients with the least trading experience to explore different features and navigate the platform independently.
Clients can always know what’s happening in the market with timely alerts sent directly to their phones.
You can meet other NAGA users in your area using the mobile app’s exclusive feature – NAGA Radar.
You can follow the trading signals of your chosen leaders and get real-time market data in your NAGA Feed.
To Auto-Copy a trader, choose them from the list, enter the amount you want to copy, and then click Auto copy.
How to Open an Account on NAGA Mobile Trading App
- Download the NAGA mobile app from the respective app store or your mobile device or tablet and click on the signup button.
- Enter your email ID, choose a password, and select the country of your residence.
- Enter your name, mobile phone number and provide the verification code received via text message.
- Complete a questionnaire form and provide relevant details, such as your estimated net worth, annual income, and revenue resources.
- Provide your personal details such as Name, Date of Birth, etc.
- Confirm your address details, including postal code, city name, street name, and house number.
- Confirm that you’re neither politically exposed nor required to pay US taxes.
- Select your account’s base currency and mark your agreement to the terms and conditions that apply.
- Complete the KYC process, and upload the supporting documents to verify your account.
- Select your preferred payment method, such as Debit Card, Credit Card, Paypal, FasaPay, GiroPay, Sofort, iDEAL, Wire transfers, etc.
- Enter the amount you wish to deposit and provide authorisation details to confirm funds transfers.
NAGA supports multiple deposit and withdrawals methods, so you can effortlessly and safely fund your account using the best one. Available deposit options include but are not limited to Debit Cards, Credit cards, Paypal, Sofort, iDEAL, FASAPay, GiroPay, Eps, P24, Wire transfers, etc. The broker claims clients’ financial data is safe since its payment processing system follows all national and international security regulations. This section of the review will discuss both the deposit and withdrawal process.
While each method has a $100 minimum deposit limit, clients can add a maximum of $10,000 a day. Since available payment options may be limited depending on your jurisdiction, always inquire about the availability of a particular payment option in your region before committing. While there is no deposit charge, you may incur currency conversion charges as outlined above.
||Deposit Processing Time
||Up to 2-5 Business Days
The company processes all withdrawal to your original payment method. A $5 flat rate is applicable on all withdrawals. The broker typically takes 10 minutes to process a withdrawal, while bank wires can take a bit longer. Payments made through bank transfers are processed in 2–5 business days. For ease of reference, please refer to the table below.
Account Base Currency
NAGA offers a wide range of base currencies, including the US dollar (USD), Euro (EUR), British pound (GBP), Japanese yen (JPY), and more. This flexibility allows market participants to select the currency that best serves their purposes. The broker doesn’t charge a currency conversion fee.
Research and Education
NAGA seems to be highly committed to providing clients with rich educational resources. Traders can take advantage of the brokerage’s free resources, comprising eBooks, webinars, and a glossary section. Working with NAGA also grants you access to the company’s extensive research resources, such as a currency converter, economic calendar, earnings calculator, etc.
Key trading topics, such as forex fundamentals, Japanese candlestick charts, and the Metaverse, are covered in depth in the NAGA Learn section. On the other hand, many helpful resources exist for those curious about the copy trading feature and want to learn more about what it is, what it can do, and how to get started.
Moreover, clients can access a comprehensive summary of the world’s currencies under the currencies encyclopaedia section, including the symbol, ticker, exchange rates, and more. There is also a glossary for customers to use as a resource to learn the various trade jargon. After thorough review, the firm’s educational facility ranks among the high industry standards.
Naga offers an average level of customer support. While phone calls are typically answered within minutes, emails can take 24-48 hours. A comprehensive help section on the site walks users through fixing the most common issues they face when using the service. The company also has a detailed Frequently Asked Questions (FAQ) area where customers may find solutions to any concerns. If a trader wants more individualised help, he can contact the company from Monday to Friday (9:00 AM to Midnight EST).
The company also has social presence on different social media platforms like Youtube, Twitter, LinkedIn, Instagram, Facebook, etc. The global support details are listed below, while clients can visit the company’s website to find local contact details.
Telephone: +442035197495 & +442033228847
What Reddit Users Say About NAGA
Reddit users seem to have diverse opinions about opening an account with NAGA. While some clients believe it to be a legitimate broker to trade stocks, others denounced the company for various issues, such as poor trade execution, delayed customer support, and a higher trading cost.
We came across a thread where the company was reported as a scam concern. While sharing a client’s experience with NAGA, someone posted evidence on Reddit to support its allegation. According to the screenshots, NAGA failed to process a customer’s withdrawal requests despite receiving multiple complaints.
What Quora Users Say About NAGA
Unlike Reddit, the Quora community seems to be less familiar with NAGA. Despite trying multiple keywords to search for something relevant to NAGA, we had no success. However, we found a thread where someone recommended top investment firms, and NAGA appeared to be ranking at number three on the list of top three investment firms.
TrustPilot Users’ Review About NAGA
People have given NAGA an average rating of 4.4 out of 5 stars on Trustpilot, which indicates that they were pleased with the service they received. Among 1,800+ reviews of the firm, many clients marked the broker’s instant trade execution policy and efficient customer support as the broker’s most outstanding characteristics. However, some people also complained about the withdrawal process.
ForexPeaceArmy Users’ Review About NAGA
There’s a quite different story concerning the broker’s reputation on ForexPeaceArmy. With a 1.6/5 stars rating after 41 reviews, the broker seems to be one of the most unwanted brokers on the FPA.
Almost all of the complaints here centre the broker’s alleged refusal to honour its customers’ requests to return their deposits.
Other Products and Services
The broker offers a variety of other products and services in addition to its primary function of facilitating trades between buyers and sellers. Here, we list some other products and services NAGA offers;
NAGA PAY facilitates both online and in-person purchases with a crypto debit card. This service allows users to trade tokens and make ATM withdrawals using the cryptocurrency wallet.
As a trading community, NAGAX provides its users with various services, including a safe wallet, an exchange, and more. For those keen on NFTs, the company has set up a market, allowing collectors to add NFTs to their stock and make friends in the community. And with the NAGAX crypto wallet, customers may effortlessly swap coins whenever they want.
Is NAGA Safe?
Naga is a CFD broker and social trading platform that offers a range of investment services to its users. Like any financial service provider, Naga’s safety and security depend on various factors, such as the regulatory environment, risk management practices, and the company’s financial stability.
From a regulatory perspective, Naga is licensed and regulated by several reputable authorities, including the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA) in the UK. These regulatory bodies set standards for brokers to follow, such as client fund segregation and regular financial audits, to ensure the safety and security of investors’ funds.
In terms of risk management, Naga security measures to protect user data and funds, such as SSL encryption and two-factor authentication make it a trustworthy broker. The company also provides negative balance protection for its users, which means that traders cannot lose more than their account balance.
Overall, while no financial service provider is 100% safe or risk-free, Naga appears to take several steps to ensure the safety and security of its users. However, it’s always important to conduct your own research and due diligence before investing with any broker or trading platform.
If you’re looking for a budgeted stock broker besides having all other complementary services offered under one roof, NAGA may be your best bet. Its unique auto-copy trading function allows users to replicate other traders’ methods and earn from being copied. The broker also boasts a social media-like feed and chat feature where traders can talk about their methods and learn from each other. With NAGA, you can place orders in real-time and access your account information from any device. While the company offers a leverage of up to 1:10 to trade stocks, traders can either buy real shares or trade them as CFDs. The pricing structure seems aligned with average industry standards, and the availability of multiple payment options makes it convenient for clients to sign up with the company. The company also allows you to communicate with a dedicated account manager through phone, email, or live chat. Other notable features, including NAGAX and NAGAPay, sets it apart from other brokers.
We aimed to be as comprehensive as possible in this NAGA review to assist you in determining if the company is a good fit for your trading needs. We analysed the broker’s price structure, trading platforms, educational resources, and payment options and listed the pros and cons of signing up with the broker. We also shared what others think of the business on the platforms like Reddit, Quora, Trustpilot and ForexPeaceArmy. Hopefully, after reading this evaluation, you will be more equipped to make a wise choice about your trading options.
Should you need a refresher on any of the more important details we discussed here? For further info, check out the Frequently Asked Questions area.
Q & A
Naga appears to be a trustworthy broker. It is licensed and regulated by several reputable authorities, such as the Cyprus Securities and Exchange Commission (CySEC) and the UK’s Financial Conduct Authority (FCA).
Naga is an STP (Straight-Through Processing) broker, which routes clients’ orders directly to liquidity providers without any intervention or dealing desk.
Yes, the broker is regulated by several reputable tier-1 authorities, such as the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA) in the UK.
As of this writing, the share price of the broker is 2.07 EUR. However, it is subject to change and can be found on various financial news and analysis websites.
The minimum deposit on Naga can vary depending on the account type and payment method, but it generally starts at $250.
The broker’s minimum withdrawal amount varies depending on the payment method, but it generally starts at $50.
Yes, it offers a variety of investment products, including real shares, ETFs, and indices.
The margin on stock CFDs on Naga can vary depending on the asset and account type, but it generally ranges from 10% (1:10 leverage).
Yes, the broker charges a commission on real shares, which can vary depending on the asset and account type.
Yes, the broker allows users to invest in stocks for the long term and offers a range of investment tools to support this, such as portfolio management and automatic dividend reinvestment.
The minimum spread on Naga stock CFDs can vary depending on the asset and account type, but it generally starts at 0.1 pips.
Yes, Naga allows traders from the US, and many other countries, subject to certain regulatory restrictions.
Yes, the broker offers a variety of cryptocurrencies for trading, including Bitcoin, Ethereum, and Ripple.
Yes, it offers a range of career opportunities in various fields, such as finance, marketing, and technology.
Yes, the broker offers a proprietary trading platform, which includes various features, such as social trading, copy trading, and multi-asset trading.
Yes, it offers a variety of forex pairs for trading, including major, minor, and exotic pairs.
The withdrawal processing time on the broker can vary depending on the payment method and other factors, but it generally takes 1 to 5 business days.
The broker offers various ways to contact its customer services, such as email, phone, and live chat. The best way to reach them may depend on your inquiry’s nature and location?