NAGA is a German-based online trading platform and social network for traders and investors. It was founded in 2015 and offers access to a wide range of financial instruments, including forex, stocks, cryptocurrencies, and commodities. Broker provides a user-friendly trading platform that is available in both web and mobile versions. The platform’s social network feature is an excellent tool for traders who wish to connect with other traders and learn from their trading strategies.
NAGA Trading Instruments
NAGA offers a wide range of trading instruments across various asset classes, including:
- Forex: NAGA offers more than 50 currency pairs, including major, minor, and exotic pairs, with competitive spreads and leverage up to 1:30.
- Stocks: Traders can access over 800 stocks from popular exchanges like NYSE, NASDAQ, and more, with real-time data, fast execution, and low commissions.
- Cryptocurrencies: NAGA offers trading in over 10 major cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more, with leverage up to 1:2 and tight spreads.
- Commodities: NAGA provides trading in a variety of commodities, such as gold, silver, oil, and natural gas, with competitive spreads and leverage up to 1:10.
- Indices: Traders can access more than 10 indices from around the world, including major indices like the S&P 500, NASDAQ, and more, with real-time data, fast execution, and low commissions.
In addition to these traditional trading instruments, NAGA also offers social trading, allowing traders to follow and copy the trades of other successful traders on the platform.
Trading Conditions
NAGA offers competitive trading conditions for its clients. Here are some key points to consider:
NAGA offers up to 1:200 leverage for Forex trading and up to 1:100 leverage for CFD trading. The leverage levels are in line with industry standards and can provide traders with the potential to magnify their gains.
Broker offers variable spreads starting from 0.2 pips for major currency pairs. Spreads may vary depending on market conditions and the type of account you have.
NAGA charges a commission for trading CFDs on its platform. The commission rates start from 0.1% per side and can vary depending on the type of asset you are trading.
The minimum deposit required to open a Live account with NAGA is $250. This is an affordable amount for many traders, especially considering the broker’s comprehensive offering.
NAGA offers a range of trading platforms, including the NAGA Trader and the MetaTrader 4 platform. These platforms are user-friendly and provide traders with access to advanced trading tools and features.
Account Types
NAGA offers several account types to suit the needs of different types of traders. Here is an overview of the account types:
- Demo Account: This account type is for traders who want to practice trading without risking real money. It offers access to all the features of the NAGA trading platform, using virtual funds.
- Live Account: This account type allows traders to start trading with real money. It offers access to all the trading instruments available on the platform.
- Islamic Account: This account type is designed for traders who follow Shariah law. It offers swap-free trading, as well as other features that comply with Islamic finance principles.
- Copy Trading Account: This account type is for traders who want to copy the trades of other successful traders on the NAGA platform. It offers access to the Copy Trading feature, which allows traders to automatically replicate the trades of other traders.
- MAM Account: This account type is designed for professional traders who manage multiple accounts. It allows them to manage several accounts from a single platform.
Each account type has its own minimum deposit requirement, spreads, commissions, and other trading conditions. Traders can choose the account type that best suits their trading needs and preferences.
Regulation and Security
NAGA is a trading platform owned by Naga Group AG, which is a publicly-traded company listed on the Frankfurt Stock Exchange. The company is authorized and regulated by several financial authorities, including:
- Cyprus Securities and Exchange Commission (CySEC)
- Financial Conduct Authority (FCA)
- Federal Financial Supervisory Authority (BaFin)
As a regulated broker, NAGA is required to adhere to strict rules and regulations regarding client fund protection, security, and transparency. This includes keeping client funds in segregated accounts, providing negative balance protection, and ensuring that all client transactions are executed fairly and transparently.
In addition to regulatory oversight, NAGA also employs a range of security measures to protect its clients’ data and funds. The platform uses SSL encryption to secure all data transmission between clients and the platform, and also offers two-factor authentication for added security. NAGA also has a team of cybersecurity experts who constantly monitor the platform for any potential threats or vulnerabilities.
Conclusion on NAGA Markets
Overall, NAGA is a reputable broker with a wide range of trading instruments, including cryptocurrencies, and a user-friendly platform with unique features such as social trading and copy trading. The broker offers competitive trading conditions with low spreads, zero commission on some account types, and high leverage ratios.
Furthermore, NAGA is regulated by top-tier financial authorities, ensuring that clients’ funds are secure and their operations adhere to strict guidelines.
However, it is worth noting that the minimum deposit for some account types may be higher than what some traders are comfortable with, and the withdrawal fees on some payment methods can be high. Additionally, the platform’s proprietary software may not be as familiar to some traders as the widely used MetaTrader platform.
In conclusion, NAGA is a reliable broker that can be a suitable choice for both novice and experienced traders looking for a wide range of trading instruments and unique features.
Naga broker somehow managed to grow from an ordinary brokerage company to the one that is listed on the FSE.
Probably, everything is because there is a fascinating variety of different services, starting from the opportunity to copy trade, and ending with tailor made deposit system that adjusts to your location, or the palce where you reside.
In fact, the latter one is kinda new thing to me. It works the same way as contextual ads, or smth.
That’s a high-quality and reliable broker. I can confirm this as their client. Of course, you may find critical downsides here but I personally don’t see anything scary. Several glitches don’t spoil my overall positive impression of trading here.