NAGA charges clients a certain amount of margin for trading different products. In foreign exchange trading, for example, the margin charged range from 3.33% to 5%, where the margin for each foreign exchange pair is mostly different. NAGA offers six accounts — Iron, Bronze, Silver, Gold, Diamond, and Crystal. Moreover, as the NAGA platform follows KYC and AML policies, you will be required to submit documents such as your ID and proof of address before you can make a withdrawal. This additional step ensures your funds’ safety and the platform’s security.
- Demo accounts on NAGA FX broker pretty much explain themselves – you are not required to deposit any money and in the virtual environment, you can get acquainted with Forex trading.
- They are registered, in particular, in Saint Vincent and the Grenadines, the Cyprus Securities and Exchange Commission, in Hamburg.
- The broker is authorized by a CySEC in Cyprus and a technology company operating in Germany.
- The broker offers reliable services and very favorable trading conditions, also with the lowest spreads, suitable for both beginners and experienced traders.
- So it is not a scam, it is a publically listed company, but also a broker authorized by a CySEC in Cyprus and a technology company operating in Germany.
In addition, the earnings calculator also considers the copy bonus and other commissions you may incur. Once you submit the needful documents to the NAGA platform while signing up, the withdrawal process will be hassle-free. NAGA might ask for documents like national ID, passport, utility bill, or bank statement to verify your identity and address. This website is using a security service to protect itself from online attacks. The action you just performed triggered the security solution.
Is NAGA FX broker legit?
While there are no bonuses and promotions, the possibility of obtaining additional funds from copy trading is an excellent opportunity. What’s more, the broker is licensed and its services are legitimate in different locations and countries. We highly recommend having business with NAGA.com Forex broker as it is a decent operator with numerous advantages. For example trading with cryptocurrencies is riskier than the other options. There are also some good webinars available about Forex, live market analysis, and more. NAGA provides a wide range of educational resources to help traders improve their trading skills.
This includes the normal social features such as likes and followers, along with copiers. Naga is only available for residents of countries which allow CFD trading. They also do not offer services to countries under international financial sanctions.
- They get 0.18 USD crypto bonuses per copied trade and 0.70 USD FX bonuses per copied trade.
- The Diamond account also offers a PI Dashboard, and you get 20 daily signals with this account type.
- Overall, NAGA is a well-regulated and secure broker with various deposit and withdrawal methods.
- In addition, the app offers advanced charting capabilities and a wide range of indicators.
In 2022 they will also launch their DEX for trading crypto, and a crypto wallet. Crypto payouts may incur an additional fee of up to 20% at Naga’s discretion. The NAGAX App on iOS and Android also features the Academy center with valuable articles and explainer videos to learn all about cryptos. NAGA’s brokerage https://traderoom.info/ business has generated more than €33.5 million in revenue in the first half of 2022, versus €22.3 million in 2021. The markets seem to focus nowadays on bad news, and look to “sell now” and worry about buying back later. Of course, you may find critical downsides here but I personally don’t see anything scary.
You can place orders yourself, or you can browse on the home page for traders to follow and copy. Make use of the educational resources, and if you are lost, chat with their support team. There are no commissions for MT5 trades of real stock for EU customers. On average, Naga charges basic account holders around 1.7 of the base currency the CFD is quoted in (USD or EUR). However there are different levels of profiles for different deposit amounts, including Iron (basic), Bronze, Silver, Gold, Diamond, and Crystal.
What is the minimum trade size at NAGA?
You can join people who invest in real stocks, cryptocurrencies, Forex, ETFs, and CFDs through social trading. You have the right to copy the trades of professionals in automatic mode or receive money when other market participants copy the principles of your trading strategy. Founded in 2015, NAGA is a fintech company that offers different financial services to customers.
NAGA offers better overall trading conditions, including lower costs, algorithmic trading supports, and better compensation for signal providers. EToro has more active social traders, but NAGA has a broader product and services portfolio resulting in a more competitive and cheaper trading environment. The final one is a swap-free account, also known as Islamic Account. Considering the peculiarities of Islamic finances, trading conditions are different for Muslim traders. Depending on the trading instrument you are going to select, there are almost no commission fees.
Residents of the US, Canada, Iran, Cuba, and North Korea cannot hold accounts with Naga. The number of tradable assets of the Naga broker is more than 1k. I can’t even comprehend this amount really.I can say that this company is all about the choice. The choice of manual or copy trading; the choice of payment methods; the choice of assets etc.
For instance, in major forex pairs, EUR/USD, the forex broker offers a standard spread of 1 pip, which is admirable compared to other forex brokers in the trading industry. Interestingly, it started as a Fintech company and utilized decentralized technology to allow its users access to the global market and trade over 700 instruments. They include forex pairs, real stocks, cryptocurrency, futures, commodities, and indices. NAGA is a fast-growing social trading broker headquartered in Germany, where its 2017 IPO ranked as the most successful that year.
Fees and spreads are comparatively low compared to other brokers. It offers real-time order execution with ultra-high-speed order processing. The interface of the WebTrader is highly flexible and easily customizable supported on more than 90% of the browsers and compatible with both IOS and Android devices. Furthermore, copy trading is the best fit on the NAGA WebTrader app with an extensive leaderboard for expert investors and their trades. The NAGA Web App users can enjoy free daily news and trading signals with the latest market updates directly into NAGA Feed.
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In case there are misunderstandings or complications, the regulator will always be present to resolve the issues. The broker is supported by the multi-billion dollar FOSUN fund. All transactions of the intermediary are completely transparent. If you are looking for the brokers that offer the best CFD trading conditions, check our top recommendations of the best CFD brokers in the world. So you either need to reside in the UK, or open an account with the broker’s UK entity – and several brokers allow non-UK residents to do that. In any case, it is a great sign of safety if a broker is regulated by the FCA.
They are registered, in particular, in Saint Vincent and the Grenadines, the Cyprus Securities and Exchange Commission, in Hamburg. Residents of some countries cannot use the services of the company. When we talk about additional features available on the broker’s website, we should first note the educational material.
Their chatbot provides a directory of articles written by their in-house support team with relevant responses to almost any question you can come up with. 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. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.
In addition, the NAGA web trader platform offers a variety of order types and execution modes. You will get all the advanced features that you need to trade effectively. NAGA also has a Negative Balance Protection policy that protects traders from losing more than their initial investment.
You will have to provide an ID and proof of residence in a country where Naga is allowed to operate. Otherwise the only limits are the limits set by your payment processor, and you can make as many deposits as you wish. Naga offers a large variety of payment methods, for both more developed and less developed countries.. Naga does not act as an exchange, therefore you can only buy or sell crypto with their wallet, and there are no crypto trading pairs at this time. This will change when they release Nagax, their DEX platform in 2022.
In the future, we should anticipate new offers that will be aimed at attracting more customers. What is also great as we discover within our NAGA review is a choice between the platform you’re getting. So you may select either MetaTrader4, its newer version MetaTrader5, or use proprietary software NAGA Web platform together with its applications. Based on our expert research we found out that NAGA group took all necessary steps to be a fully regulated and transparent firm. So it is not a scam, it is a publically listed company, but also a broker authorized by a CySEC in Cyprus and a technology company operating in Germany. The company will use the funds in financing global growth and enhanced marketing measures.
EToro and NAGA both maintain relatively higher-end Forex trading costs, which NAGA lowers for deposits above $50,000. Equity CFDs at eToro face a 0.09% commission and a €1.98 to €5.00 flat fee at NAGA, making it cheaper for most CFD traders, but eToro offers commission-free direct share dealing. Overall, Naga Review shows us a broker with strong technology and development of trading innovation. Together with its regulatory obligation Naga seems a good choice of a brokerage firm to us and could be a pleasant partner in your trading journey too. Also, we learned that there is a quite great offering performed via Naga Exchange that allows unlimited and commission-free crypto and fiat trading through its biggest social network. So whether you are a professional or a beginner trader, Naga welcomes both with unique opportunities either to copy trades or act as a “master”.
Users who are new to Forex trading can find out more about webinars, articles, access various tutorials and eBooks. Such materials are extremely useful to find out more about financial markets and acquire additional knowledge. Incorporating them in trading would be beneficial for trading, as everything comes out of knowledge. naga broker In general, we can point out that both desktop and mobile platforms of trading are well-designed and the user experience is at its best. Customers can make the most out of platforms and execute trades in no time. Furthermore, trading platforms have no special requirements, that might confuse novice traders.
NAGA offers a free demo account so traders can test the platform before committing to a live account. The demo account is funded with virtual money, which can be used to test the platform’s features and capabilities. In addition, the demo account can be used to test your trading strategies without risking any real money. NAGA also has a mobile trading app available for Android and iOS devices.
These payments cannot be considered as a subject of claims, obligations, or disputes related to the services provided by brokers. User comments and reviews about companies on the website are not verified for authenticity, and the website administration is not liable for their content. MetaTrader is an excellent choice to access Naga broker trading services through mobile phones, the web, and PCs.
You can use the popular MetaTrader 4 trading platform and its newer version MetaTrader 5, as well as the company’s own development – the NAGA web platform with mobile applications. NAGA is an authorized broker with CySEC in Cyprus, which enables IT to serve clients from the EU in accordance with European MiFID and ESMA requirements. In addition, NAGA has a branch in Saint Vincent and the Grenadines, through which it can provide online trading services to international clients.
Based on its popularity with thousands of Forex brokers, MetaTrader (MT4 and MT5) is user-friendly and easy to use. In the case that you take a position and the price moves against your favor, you will have to make margin calls, increasing the investment behind the contract. If you are unable to make margin calls, your contract will be liquidated, and you will lose the principal as well as any margin calls you have made. CFDs include forex, indices, crypto, stocks, commodities, futures, and ETFs. 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.
Yes, NAGA offers a full-fledged demo account to make trading easier. Moreover, if you’re into futures trading, NAGA has got you covered with various futures contracts available for trading. Popular futures contracts at NAGA include S&P 500, Dow Jones 30, FTSE 100, NASDAQ 100, and more. In addition, futures contracts give traders a high degree of flexibility as they can be traded for a variety of timeframes. Sign up for NAGA for free and instantly get a demo trading account with $10,000 test funds to try out the platform. It is important for us to know your personal opinion about this broker, you can also read the reviews of NAGA and see the rating of Forex brokers.