What Is Naga?How Social Trading WorksMarketsTrading PlatformsFeesLeverageDeposits & WithdrawalsDemo AccountPros Of Trading With NagaCons Of Trading With NagaCustomer SupportSecurityNaga VerdictFAQAccepted CountriesAlternatives to Naga
Naga is a regulated social trading platform that allows clients of all levels to share and copy strategies on over 950 assets including forex, stocks and cryptos. Clients can use the broker’s proprietary copy trading platform or connect to the financial markets using the established MT4 and MT5. Our review breaks down leverage rates, fees, deposits, withdrawals, and more. Find out how Naga works today.
What Is Naga?
Naga is a social investing network that offers access to a wide range of copy trading features across an extensive portfolio of assets. One live account is available to all retail trading accounts. Members whose trades are copied receive immediate payment.
Naga Group AG was founded in 2015 by Yasin Qureshi and Benjamin Bilski. The company conducted an initial public offering in 2017, surpassing $50 million in a few months on the Frankfurt stock exchange.
The brokerage is currently headquartered in Limassol, Cyprus but has ten offices around the world including in India, South Africa and Mexico.
Naga Markets Ltd operates under the Naga Group AG and is regulated by the Cyprus Securities and Exchange Commission (CySEC). The European entity is licensed with the UK Financial Conduct Authority (FCA).
How Social Trading Works
Social trading allows investors to interact and share ideas with community members. Traders can also copy and execute the strategies of other users. This method of trading is useful for new starters who want to learn techniques and pick up tips from seasoned investors.
A social trader can choose to subscribe to another trader’s channel where their positions and strategies can be viewed. Users then have the option to automatically copy their Bitcoin trades, for example.
Traders can still implement their own risk parameters and monitor portfolio performance in real-time, depositing and withdrawing funds as needed.
Markets
Naga offers over 15,000 assets:
Forex – 48 major, minor and exotic currency pairs i.e. GBPUSD and AUDJPY
Cryptocurrencies – 27 cryptocurrencies i.e. BTC, ETH, LTC and XRP
CFDs – 400+ stock CFDs i.e. Ford, General Mills and Tesla
Commodities – 7 commodities i.e. Oil, Copper and Wheat
Indices – 19 global indices i.e. S&P500, UK100 and US30
Stocks – 400+ stocks i.e. Apple, Coca Cola and Netflix
Futures – 12 futures i.e. FTSE100, JAP225 and DE30
ETFs – 17 ETFs i.e. DIA, EEM and GSG
Trading Platforms
Naga Web Platform
Naga Web is the broker’s bespoke platform that allows users to automatically copy trades from other members and configure price alerts directly from a web browser. The platform offers most of the functionality found in MT4 and MT5, alongside a series of additional features:
Full access to all Naga trading markets
Messenger for sharing analysis
‘Best investors’ leaderboard
Personal account manager
Copy trading signals
Autotrading feature
Market news feed
Digital wallets
Naga app
The Naga Platform is also available as a mobile app on iOS and Android.
MetaTrader 4
MT4 is a popular forex trading platform that has a user-friendly interface and is suitable for beginners. Features include:
4 types of pending orders
3 types of instant orders
Customisable interface
30 technical indicators
31 graphic objects
MetaTrader 4
MT4 is available to download on Mac, Windows and as a mobile app on iOS and Android.
MetaTrader 5
MT5 is another industry-leading platform with advanced features for established investors. Naga’s MT5 terminal offers a wider range of instruments compared to MT4, including ownership of physical shares where users can earn dividends. Other features include:
Ability to transfer funds between accounts
6 types of pending orders
4 types of instant orders
38 technical objects
44 graphic objects
Economic calendar
Market depth
Secure login
MetaTrader 5
MT5 is available to download on Mac, Windows and as a mobile app on iOS and Android.
Fees
Spreads on Naga are variable with zero commission on most assets. Typical spreads on GBP/USD, for example, are 1.8 pip with a similar fee on indices. The only commission charges are on CFD stocks (0.20%) and ETFs (0.10%).
Naga charges a flat fee of €0.50 on all trades that are copied. Additionally, 5% is applied to trades with a profit equal to or larger than €5. This transparent fee structure makes it easy to track costs when copy trading.
Leverage
Members can check their account leverage in the Trading Accounts section. In compliance with regulatory requirements, leverage ranges from 1:1 to 1:30 for retail clients depending on the instrument. However, professional traders may access rates of up to 1:200 by contacting customer support.
Retail leverage limits by asset are as follows:
Commodities (excluding gold) – 1:10
Major futures indices – 1:20
Futures commodities – 1:10
Major forex pairs – 1:30
Minor forex pairs – 1:20
Other futures – 1:10
Major indices – 1:20
Minor indices – 1:10
Stocks – 1:5
Crypto – 1:1
Gold – 1:20
ETFs – 1:5
Deposits & Withdrawals
Naga offers over 20 deposit and withdrawal methods. However, the options available will depend on the country you’re based in. Methods include:
Bank Wire transfer (Instant)
Credit/Debit card i.e. Visa, Mastercard and Maestro (Instant)
Cryptocurrencies i.e. Bitcoin, Naga Coin or Ethereum (Instant)
Alternative payment methods i.e. Skrill, Giropay and Neteller (Instant)
All methods require a minimum deposit of $250 or equivalent. Maximum deposit requirements depend on the country you reside in.
Withdrawal requests are processed within the same day or the following day if the request was submitted out of working hours. While there are no deposit fees, Naga charges a standard withdrawal fee of $5 or equivalent and the minimum withdrawal is $50.
The brokerage also offers its own bespoke payments portal – NAGA Pay. The user-friendly wallet allows traders to manage and divert their funds between investments and personal finances. The service is available with the broker’s live accounts and is compatible with the company’s copy trading tools.
Demo Account
Prospective clients can use a free demo trading account. The test account is made available by default once you sign up to Naga and comes with $10,000 in virtual cash. The simulator allows you to get acquainted with the Naga platform and interface while testing out your trading strategies risk-free.
Pros Of Trading With Naga
NAGA Pay
Crypto trading
Free demo account
Low copy trading fees
Educational resources
Good customer support
Leaderboard of traders to copy
Proprietary web-based platform
Naga platform on iOS and Android
Cons Of Trading With Naga
Withdrawal fees
Overnight charges
$250 minimum deposit
Only one default account offered
Customer Support
You can contact customer support through several channels listed below. The team is available Monday to Friday from 9:00 to 20:00 EEST.
Email – service@naga.com
Live chat – Found on the bottom of the website
Telephone numbers – UK +44 20 3318 4345, international +357 25 041410
HQ Address – Ariadnis 7, Moutagiaka, 4531 Limassol, Cyprus
Security
Client funds are held in segregated accounts with regulated EU banks. This ensures that funds are separated from company capital and helps to ensure they are not misused. The interface is also secured with firewalls and encryption protocols. Additionally, all Naga accounts have the option to add multi-factor authentication at login for increased security.
Naga Verdict
Naga has a lot to offer. Users can copy trades from experienced investors across more than 950 assets. The social trading broker offers MT4 and MT5 plus its web-based terminal that comes with a long list of features. Strong regulatory oversight from the CySEC and FCA also adds to its trust rating. The only major drawback is the relatively high minimum deposit.
FAQ
How Do I Open An Account With Naga?
Opening an account with Naga is straightforward, follow the link below and select ‘Register’. You will need to fill in a short questionnaire, verify your identity and provide proof of residence. Once your account has been verified, you can log in and start trading. The exchange also offers an Islamic swap-free account on request.
Is Trading With Naga Safe?
Naga offers a high level of client security. Trader’s funds are held in segregated accounts with major EU banks. Additional security features at the login stage also help to provide a robust trading environment. With that said, online trading is risky, especially when investing in cryptos and leveraged CFDs. Also, there are no guarantees that the strategies you copy on the platform will generate returns.
Is Nada Trading Legit?
Naga Trading is a legitimate broker that is regulated by the Cyprus Securities and Exchange Commission (CySEC), under license number 204/13. The company also holds a license with the FCA in the UK. As a result, we’re satisfied the company is a respectable copy trading broker.
How Does Naga Trading Work?
Naga is a social trading network that brings together users to share information and explore strategies. Clients can copy as many trading systems as they want and can view the best Naga traders through the leaderboard. Every time a user copies your trade, you will receive payment directly to your account. The copytrade service is available on the Naga Web platform only.
What Are The Trading Hours On Naga?
Users can access trading platforms 24/7. However, market operating hours will depend on the specific asset. For example, the forex market is available 24/5 while cryptocurrencies are open 24/7. Note, spreads may widen during periods of low liquidity.
Accepted Countries
Naga accepts traders from Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use Naga from United States, Iran, Canada, Korea, Cuba, Syria, Iraq.
Alternatives to Naga
If you are looking for alternatives to Naga we have compiled a list of the top 5 brokers that are similar to Naga below. This list of brokers like Naga is in order of similarity and only includes companies that accept traders from your location.
OctaFX – OctaFX offers multi-asset trading on a range of platforms and mobile solutions.
Admiral Markets – Admiral Markets is leading Forex and CFD broker offering the MT4 & MT5 platforms
Vantage – Reliable and affordable trading since 2009. Join over 900,000 others trading on 400+ CFD products over assets like forex, gold, indices, cryptocurrency and shares from 0.0 spreads through TradingView, MT4 or MT5. Vantage is ASIC regulated and client funds are segregated. Open an account in under 5 minutes.
TP Global FX – TP Global FX offers a long list of popular financial assets with spreads from 0.1 pips. With a focus on innovation and transparency, they are a growing brand.
Pacific Union – Pacific Union is a multi-asset broker offering trading via the MT4 and MT5 platforms.