Naga
Please note that this review is not financial advice. Trading involves risk.
| Popularity |  |
| Leverage | 1:30 for retail clients, 1:500 for professional clients |
| Minimum Deposit | $250 |
| Regulation | CySEC, FCA |
| Payment Methods | Bank Wire, Credit/Debit Card, PayPal, Skrill, Neteller |
| Trading Assets | Forex, CFDs on Stocks, Commodities, Indices, Cryptocurrencies |
| MT4 | ✅ |
| MT5 | ✅ |
| Spreads | Low |
| Average cost: EUR/USD | 1.2 pips |
| Demo Account | ✅ |
| Islamic Account | ✅ |
| MAM | ❌ |
| PAMM | ❌ |
| CopyTrading | ✅ |
| ZuluTrade | ❌ |
| Scalping | Yes |
| Signals | ✅ |
| EAs/Robots | Available |
| Negative Balance Protection | Yes |
| Deposit Fee | ❌ |
| Withdrawal Fee | ❌ |
| Inactivity Fee | $50 after 3 months of inactivity |
| Year Established | 2015 |
| Address | 42nd Floor, One Canada Square, Canary Wharf, London, E14 5AB, United Kingdom |
| Contact Information | Email: [email protected], Phone: +44 20 3966 8388 |
| Phone APP | |
| Rating | ★★★★☆ [4.5] |
| Website |
Pros and Cons
- Wide range of trading assets
- Access to both MT4 and MT5 platforms
- Competitive spreads
- Strong regulatory framework
- No deposit or withdrawal fees
- Limited educational resources
- No PAMM/MAM accounts
- Inactivity fee after 3 months
- Not available in some countries
- Limited customer support hours
Introduction
In the digital era, where online trading has become more accessible than ever, choosing the right broker is paramount for both novice and experienced traders.
Naga emerges as a standout platform, offering a unique blend of traditional trading with innovative social trading features.
This review delves deep into what Naga has to offer, scrutinizing its services, features, trading platforms, customer support, and much more.
Open a free accountBroker Overview
Established in 2015, Naga has quickly ascended in the ranks of online brokers, offering a wide array of trading instruments, including forex, CFDs on stocks, commodities, indices, and cryptocurrencies.
Based in Cyprus, it operates under strict regulation from several authorities, ensuring a high level of security and reliability for its users.
Key Features at a Glance
- Regulation: CySEC, FCA, and more.
- Minimum Deposit: $250.
- Trading Platforms: MT4, MT5, and Naga’s proprietary platform.
- Assets Offered: Forex, CFDs, cryptocurrencies, stocks, indices, and commodities.
- Special Features: Social trading, CopyTrading, auto-copying top traders.
Trading Platforms and Tools
Naga provides its users with multiple platforms, catering to different levels of trading experience and preferences.
MetaTrader 4 and MetaTrader 5
- MetaTrader 4 (MT4): Renowned for its analytical tools, MT4 is favored by traders interested in forex and CFD trading. It offers advanced charting tools, numerous technical indicators, and supports automated trading through Expert Advisors (EAs).
- MetaTrader 5 (MT5): Building on the strengths of MT4, MT5 offers additional timeframes, more technical indicators, an economic calendar, and enhanced trading functions. It’s suitable for traders looking for a bit more complexity and a wider range of trading instruments.
Naga’s Proprietary Platform
- User-Friendly Interface: Designed with both beginners and seasoned traders in mind, its platform is intuitive and easy to navigate.
- Social Trading: One of the platform’s highlights is its social trading feature, allowing users to follow and copy the trades of successful investors.
- Real-Time Data and News: Stay updated with the latest market news and real-time trading data directly on the platform.
Account Types
Naga caters to a wide range of traders by offering different account types:
- Demo Account: A risk-free account loaded with virtual funds. It’s ideal for beginners or those looking to test the broker’s features.
- Real Account: The standard account type for trading with real funds. It requires a minimum deposit of $250.
- Professional Account: For experienced traders who can prove their trading expertise and financial stability. This account offers higher leverage.
Trading Instruments
Naga’s vast array of trading instruments is one of its most compelling features:
- Forex: Major, minor, and exotic currency pairs.
- Stocks & Indices: Access to global stock markets and major indices.
- Commodities: Trade commodities like gold, silver, and oil.
- Cryptocurrencies: A wide selection of cryptocurrencies is available for trading.
Fees and Commissions
The broker maintains transparency in its fee structure, offering competitive spreads and low trading costs:
- Spreads: Starting from 1.2 pips for major currency pairs.
- Commissions: Zero commissions on most trades, with specific fees for certain instruments transparently listed on the website.
- Non-Trading Fees: No deposit fees, but some withdrawal methods may incur charges. An inactivity fee is applied after 3 months of account dormancy.
Customer Service
Naga’s commitment to customer satisfaction is evident in its comprehensive customer service:
- Availability: 24/5 support via live chat, email, and phone.
- Quality of Support: Knowledgeable and friendly support team capable of addressing complex issues.
Education and Research
The company provides a wealth of educational resources and research tools to help traders make informed decisions:
- Educational Resources: Webinars, articles, e-books, and a glossary of trading terms.
- Research Tools: Economic calendar, market news, and analysis.
Safety and Regulation
Naga is regulated by multiple financial authorities, providing a secure trading environment:
- Regulators: CySEC in Cyprus, FCA in the UK, and others.
- Security Measures: Advanced encryption technologies to protect user data and funds.
User Experience and Platform Navigation
Naga prides itself on its user-friendly interface, designed to cater to traders of all levels.
The seamless navigation between different sections of the platform ensures that users can easily access trading tools, account settings, and educational resources.
Highlights:
- Intuitive Design: Whether on desktop or mobile, the platform’s design is intuitive, ensuring that even first-time users can find their way around with ease.
- Customization: Users can customize the dashboard to their liking, prioritizing the tools and information most relevant to their trading strategy.
- Accessibility: With both web and mobile applications, the broker ensures that traders can access their accounts and trade from anywhere, at any time.
Social Trading and Community
One of Naga’s most distinguishing features is its vibrant community and the emphasis on social trading.
This approach allows users to share strategies, insights, and even copy the trades of successful traders.
Key Aspects:
- Copy Trading: A standout feature that enables users to mirror the trades of more experienced traders, potentially benefiting from their expertise.
- Trader Rankings: Users can view the performance and ranking of traders within the community, making it easier to decide whom to follow or copy.
- Interaction and Engagement: The platform fosters a sense of community by allowing users to interact, discuss strategies, and share insights, contributing to a richer trading experience.
Comprehensive Asset Portfolio
Naga’s diverse range of trading instruments ensures that traders have access to a broad market spectrum.
This diversity allows for a more flexible trading strategy and the opportunity to diversify investment portfolios.
Asset Categories:
- Forex Trading: Access to a wide range of currency pairs, including majors, minors, and exotics.
- CFDs on Stocks and Indices: Trade on the price movements of global stocks and major indices without owning the actual assets.
- Commodities Trading: Offers the opportunity to trade on the price movements of essential commodities like gold, silver, and oil.
- Cryptocurrency Trading: A robust selection of cryptocurrencies is available for trading, catering to the growing demand for digital currency investments.
Educational Resources and Trading Support
The company is committed to providing its users with the tools and knowledge to succeed in the trading world.
The broker’s extensive range of educational materials is designed to support traders at all levels of experience.
Educational Offerings:
- Webinars and Workshops: Regularly scheduled sessions covering various trading topics, from beginner to advanced levels.
- Trading Guides and E-Books: Comprehensive guides and e-books that cover the fundamentals of trading and advanced strategies.
- Market Analysis and Insights: Daily market analysis and insights from Naga’s team of experts, helping traders make informed decisions.
Regulation, Security, and Fairness
The importance of trading with a regulated broker cannot be overstated.
Naga’s adherence to strict regulatory standards underscores its commitment to providing a secure and transparent trading environment.
Regulatory Framework:
- Multi-Jurisdictional Regulation: Naga is regulated by several reputable authorities, including the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA).
- Client Fund Segregation: Clients’ funds are kept in segregated accounts, ensuring their protection.
- Data Security: Implementation of the latest encryption technologies to safeguard users’ personal and financial information.
Naga Fees, Spreads, and Commissions
Understanding the cost of trading is crucial for every trader.
Naga’s fee structure is designed to be transparent and competitive, aligning with the industry standards.
Overview of Fees:
- Spreads: Naga offers low spreads starting from 1.2 pips on major forex pairs, ensuring cost-effective trading.
- Commission: Most trades on Naga are commission-free, with clear disclosures on any applicable fees for specific instruments or services.
- Non-Trading Fees: No deposit fees are charged, and the platform is transparent about any potential withdrawal or inactivity fees.
Customer Support and Service
At the heart of Naga’s operations is a dedication to exceptional customer service.
The broker understands the importance of timely and efficient support in the fast-paced world of online trading.
Support Channels:
- 24/5 Availability: Customer support is available 24/5, covering the global trading hours.
- Multiple Languages: Support is offered in various languages, accommodating a global clientele.
- Live Chat, Email, and Phone Support: Traders can reach out via live chat, email, or phone, depending on their preference.
Conclusion
Naga sets itself apart with its innovative approach to online trading, blending traditional trading mechanisms with modern social trading features.
Its commitment to security, customer satisfaction, and a comprehensive trading environment makes it an excellent choice for traders looking for a reliable and dynamic online broker.
Whether you are new to trading or an experienced market participant, Naga offers a platform that can cater to your needs, fostering a trading experience that is not just about transactions but about learning, sharing, and growing in a vibrant trading community.
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Frequently Asked Questions (FAQ)
What is the minimum deposit?
The minimum deposit at Naga is $250, making it accessible for most traders.
Does it offer a demo account?
Yes, Naga offers a demo account for traders to practice their strategies without any risk.
Are my funds safe?
Yes, the broker adheres to strict regulatory standards and segregates clients' funds to ensure safety.
Can I trade cryptocurrencies?
Yes, Naga offers a range of cryptocurrency pairs for trading.
What trading platforms does it support?
Naga supports both the MT4 and MT5 trading platforms.
Is CopyTrading available?
Yes, Naga offers CopyTrading, allowing you to copy the trades of experienced traders.
How can I contact their customer support?
Naga's customer support can be reached via email at [email protected] or phone at +44 20 3966 8388.
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Our experts
This article has been written, edited and reviewed by the following members of our team:
Feng Zhou
Feng Zhou, a seasoned author and financial expert, boasts a diverse portfolio of articles recognized by prestigious publications such as Bloomberg, Global Asia, and BizLeaders. Graduating from the University of Hong Kong marked the inception of Mr. Zhou's journey into the financial sector. Initially delving into financial statement audits for both publicly traded and privately held clients, he honed his skills before furthering his education at Hong Kong Polytechnic University. During his tenure, Feng Zhou contributed significantly to the valuation of privately held businesses, engaged in forensic accounting, and provided litigation-related services. His professional trajectory also includes valuable experience at Nezu Asia Capital Management, a prominent hedge fund giant. Demonstrating entrepreneurial spirit, Feng Zhou founded a financial asset management company and frequently shares his expertise as a guest lecturer at various Chinese MBA programs. His prolific writing extends beyond traditional platforms, with articles featured in a range of industry events and publications, including FoxTrade, The MoneyShow, London Summit, and iFX EXPO. With a keen eye for market trends and a wealth of experience, Feng Zhou continues to be a prominent voice in the financial landscape.
Sandro Pontedra
Sandro Pontedra is the mastermind behind the insightful financial analysis and educational content that FoxTrade readers have come to rely on. With a rich academic background from Università di Bologna and the University of Milan, Sandro has built a career that spans across private wealth management and financial analysis, culminating in his role as Chief Accounting Officer for a prominent firm. An avid trader with over a decade of experience in the markets, Sandro combines his hands-on trading knowledge with a keen analytical mind, offering FoxTrade readers a unique blend of practical advice and in-depth market insights. His work, recognized by major financial publications, reflects his passion for finance and commitment to demystifying complex financial concepts. Sandro is dedicated to empowering readers with the knowledge and tools needed to navigate the financial markets confidently. Whether you're a seasoned investor or new to trading, his articles provide valuable insights into investment strategies, market analysis, and the future of finance and technology.
Stephane Dubois
Stephane Dubois stands at the forefront of financial analysis and industry expertise, driving innovation and insight across global markets. With a diverse academic background in International Relations and World Economy, coupled with practical experience spanning government projects and private sector endeavors across five continents, Stephane brings a wealth of knowledge and perspective to his role. As a senior editor at FoxTrade, Stephane oversees the publication of insightful content, ensuring that readers receive accurate and timely analysis to navigate the complexities of the financial world. His leadership and editorial guidance have been instrumental in shaping the platform into a trusted source of information for investors and traders alike. Beyond his editorial responsibilities, Stephane is revered as a leading analyst in the online broker industry. His insights have been instrumental in shaping strategies and decision-making for executives worldwide. Stephane's expertise isn't confined to the boardroom; he is also an esteemed business school professor, with an MBA from Columbia University and prior experience at Goldman Sachs. Stephane's impact extends beyond the confines of academia and corporate settings. He has spoken and moderated panels at prestigious events globally, earning citations from esteemed publications such as Finance Monthly, The Journal of Finance, and Financial Analysts Journal. His contributions to industry discussions cover a wide array of topics, from forex strategies to stock market catalysts, earning him recognition as a thought leader in the financial world.
Last update: April 27, 2024