NAGA

Official website Open account

4/10

4/10

$250

CySEC

Bank Transfers, Debit/Credit Cards, Skrill, FasaPay, Boleto, SOFORT, BitCoin

Features

  • Seminars and training
  • Daily analyst
  • Low initial deposit
  • Copy trades
  • Segregated accounts
  • Affiliate program
  • Wide selection of trading instruments

Pros

  • Naga is regulated and offers copy-trading options and real stocks.
  • Copy trading service is top-notch; customer support is responsive and reliable as well. I appreciate that.
  • Transparent fees for copy trading. No hidden commissions or unclear calculations.
  • Daily free trading signals!
  • High level of customer support at all stages. In addition
  • a variety of tools and instruments.
  • 1000
  • The withdrawals are impressively fast.
  • Great trading conditions. And this broker is also the most reliable one I know.
  • Lots of payment mechanisms and fast withdrawals.
  • The strongest advantage of the naga broker – opportunity to delve into investing and possibility to copy trade with very favorable conditions. Plus
  • the company’s reliable leave no question either.

Cons

  • They have a limited number of crypto coins
  • the nagacap feed seems a bit confusing.
  • I wish there were even more traders in the social trading network that I could choose from with even higher returns
  • The social trading platform needs more traders who are willing to take more risks and provide more significant returns.
  • Not the largest choice of deposit and withdrawal methods.
  • I think the account types are too many. They could be streamlined for a little more ease.
  • It was a bit difficult for me to sort things out on the platform
  • cuz the number of offered functions is immense. Yet
  • the quantity of account types is big too
  • be ready to waste some time choosing a best variant.
  • There are so many features it kinda clusters up the personal area.
Written by Santa
Updated on

Information

NAGA Broker Review by Trade Forex

Introduction

NAGA, founded in Frankfurt, Germany, in 2015, is a prominent FINTECH company offering access to global markets through decentralized technologies. In this comprehensive review, we will delve into various aspects of NAGA as a Forex broker.

Overview

NAGA provides a diverse array of trading options, including classic trading and social trading. With over 750 instruments in its portfolio, NAGA caters to a wide range of traders, from Forex and CFD enthusiasts to cryptocurrency investors. Their offerings encompass currency pairs, cryptocurrencies, indices, commodities, ETFs, futures, and real stocks, all accessible via a single multi-currency account. Notably, NAGA offers real stocks without any commission, making it an attractive choice for investors.

Regulation

Understanding the regulatory framework of a broker is essential for traders. NAGA is a trademark of NAGA Group AG, a German FINTECH company publicly listed on the Frankfurt stock exchange. This association with a reputable financial institution lends credibility to NAGA. Additionally, the Chinese FOSUN Foundation’s support further bolsters its reliability. NAGA holds authorization from CySEC in Cyprus, allowing them to serve clients from the EU in compliance with European MiFID and ESMA requirements. Moreover, NAGA maintains a branch in Saint Vincent and the Grenadines to provide online trading services to international clients.

Leverage

Leverage plays a crucial role in trading strategies. European traders trading with NAGA are subject to ESMA restrictions, with a maximum leverage of 1:30. However, professional traders can access higher leverage ratios after confirming their professional status. For international traders, leverage up to an impressive 1:1000 is available, offering substantial flexibility in trading decisions.

Trading Accounts

NAGA simplifies account management by offering a single multi-currency account that caters to all markets. Traders can choose from five base Fiat currencies: USD, EUR, GBP, PLN, and CHF. Additionally, NAGA provides a cryptocurrency account, demonstrating their commitment to embracing emerging financial trends.

Trading Platforms

Choosing the right trading platform is paramount for any trader. NAGA offers multiple options, including the widely acclaimed MetaTrader 4 and its newer iteration, MetaTrader 5. Additionally, they provide their proprietary NAGA web platform with mobile applications, ensuring accessibility and convenience for traders on the go. A standout feature of NAGA’s offering is the ability to engage in social trading, allowing automatic replication of the trades of the most successful traders.

Trading Instruments

Diversity in trading instruments provides traders with more opportunities. NAGA shines in this aspect, offering a wide range of Forex and CFD trading instruments. Traders can engage in currency pairs, cryptocurrencies, ETFs, indices, commodities, and real stocks (not CFDs) without incurring any commission fees. Notably, NAGA operates its cryptocurrency exchange, NAGAX, and offers a cryptocurrency wallet, enhancing its appeal to cryptocurrency enthusiasts.

Minimum Deposit

The minimum deposit requirement can be a critical factor for traders. NAGA has a tiered system where the amount of funds in the account determines the trader’s level, bonuses, and discounts on spreads and commissions. For the basic level of Iron Trader, the minimum deposit is set at $250, making it accessible to a wide range of traders, from beginners to experienced professionals.

Conclusion

In summary, NAGA stands out as a technologically advanced company with innovative trading solutions. Whether you are a novice or an experienced trader, NAGA offers substantial investment opportunities. The inclusion of social trading adds an extra layer of appeal for those seeking to emulate the success of top traders. To make an informed decision, it is advisable to consider personal opinions, read reviews of NAGA, and explore the Forex broker rating provided by Trade Forex. NAGA’s commitment to regulation and its diverse array of trading instruments make it a noteworthy option in the world of Forex trading. Happy trading!

Note: All information provided is based on data available up to the knowledge cutoff date in January 2022. Please verify the latest information and perform due diligence before trading with NAGA.

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