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Though NAGA says they only have one account, there are six tiers within it. Each has varying specifications and conditions, as well as minimum deposit limits. It is diligently developing an entire ecosystem of financial innovations to allow everyone to trade and invest in the financial markets, cryptos, and virtual goods.

Conclusion of the review: NAGA is a new competitor of online brokers

I like that you can easily switch between live and demo mode if you intend to practice your strategies as you go. My tests uncovered over 400 real stocks and CFDs from US, UK and European markets, including big names like Apple and Netflix. I’m also a big fan of the corporate actions and earning calendar, as well as the regularly updated blog section. You can download the NAGA app from Google Play for on-the-go trading. The NAGA website doesn’t say anything about an iPhone app, though the Android app has a 3.9– star rating on Google.

1. Clients can copy as many trading systems as they want and can view other traders through the leaderboard.
2. The broker is fully licensed by the Cyprus Exchange and Securities Commission.
3. In comparison to Kraken and VT Markets, NAGA’s mobile app is competitive, offering a full trading experience on the go.
4. The customer support on NAGA.com is available both by phone and live chat.
5. In addition to offering Forex trading services, the company focuses a lot on crypto trading as well.
6. We can also note that in Forex trading almost every popular currency pair is present.

User Experience

Above all, our experts assess whether a broker is trustworthy, taking into account their regulatory credentials, account safeguards, and reputation in the industry. All accounts have the option to add multi-factor authentication at login for increased security. Traders can view the latest updates and product announcements on Facebook, Instagram, Twitter, YouTube and LinkedIn. NAGA has some excellent self-service resources in its help center. It’s extensive and covers all the most common problems you are likely to encounter as a new customer. You should head there first and check out the FAQs and articles for an answer.

🏦 Is my money safe with NAGA, and how are they regulated?

Trading diversification is always a plus, as it attracts new potential investors and also provides them with new market opportunities. NAGA offers an average range of 40+ currency pairs with variable spreads and lot sizes, including Micro and Mini lots. I found that you can start copying with a fixed minimum of $50 or a variable minimum relative to the leader. Copy fees start from $0.99 and I like that you can test out the platform in the $10,000 virtual account. Demo accounts are a practical, risk-free method to familiarize yourself with the NAGA platform, figure out how it works, and flex your new trading muscles with a virtual account balance.

Copy Trading

You don’t need to miss any potential trading opportunity with these free price and volatility alerts. You can setup a price alert to get notified when prices go up or down. Alerts are sent as notifications on your web trader or to NAGA mobile app for iOS and Android.

They produce and compile educational content to help you improve your trading skills and be more confident in your daily trading activities. I like the convenience of the app as it means that I can simply pull my phone out of my pocket and have instant access to the global markets. I was impressed by the additional features that extend beyond the core naga broker trading functionalities. These features are thoughtfully designed and contribute significantly to a comprehensive trading experience. Another interesting feature is the Social Trading account, which gained massive popularity in recent years. With the help of auto copying you can copy other traders’ positions and in such a way make more profits.

These measures, along with segregated client bank accounts, provide a level of safety and peace of mind for your funds. The educational resources available on NAGA are also worth mentioning. From webinars to e-books and video tutorials, the platform offers a wealth of information to help users understand the markets and refine their trading strategies.

The broker does take additional commission which is roughly $10, but this is a very small amount. NAGA is a perfect broker for those who want to try out different trading instruments. Besides offering Forex trading, you can also trade with stocks, indices, CFDs on stocks, cryptocurrencies, commodities, ETFs, and futures.

The information and videos are not investment recommendations and serve to clarify the market mechanisms. The texts on this page are not are not investment recommendations. The broker RoboForex is a great option with very low spreads and fees for less popular Forex pairs or assets. With more than 12,000 assets to choose from, you will never run out of options if you sign-up with this broker. The lucrative high leverage is another plus for more experienced brokers.

We aim to help you find the best broker according to your own needs. Also note that your payment method must be previously verified before you place a withdrawal request. Any Credit Card used for the deposit will be available in withdrawal options. With the NAGA Popular Investor Program, you can secure an extra profit for simply being a popular and active trader. As a NAGA Popular Investor, you can earn up to 100K/month when being auto copied by other traders on the NAGA platform, thanks to the Popular Investors’ Fund. There are futures available to trade including DAX30, Euro Stoxx, IBEX 35, Swiss20, various commodities and more.

However, the minimum deposit is a hefty $25,000, so you may wish to test the water with Iron Trader and a $250 minimum deposit first. Below you will find a detailed overview of the benefits of each account level. NAGA says its users enjoy low market spreads because they are continually adjusting https://traderoom.info/ spreads to give clients the best conditions across all the markets. It’s worth noting, however, that NAGA’s spreads are variable and as such, tend to be pitched lower than fixed spreads. Unlike other forex brokers, NAGA does not impose trading restrictions during breaking news and events.

The backstory of NAGA is an interesting tale and worthy of retelling. The chili-logoed company was created in October 2015 by Yasin Sebastian Qureshi and Benjamin Bilski when they unveiled their innovative social trading app, NAGA trader. Within months, NAGA had secured funding from one of Germany’s oldest banks and won its first international award in London. By mid-2017, NAGA had won further funding from one of China’s largest investment companies and floated on the Frankfurt Stock Exchange. The debut reached a Return on Investment of 260% based on the issue price.

Opening an account with NAGA is a quite straight-forward process. As soon as you comply with the registration and identification requirements and your account is verified, you will be able to fund your account and start trading. There are major, minor & exotic forex currency pairs for trading, including EURUSD, GBPUSD, USDJPY, USDCHF, EURJPY, USDCAD, EURAUD, etc. There is no commission charged for trading forex as they make money from the spread. These spreads are variable starting from 0.7 pips on the EURUSD. The large NAGA community allows beginners to increase their trading knowledge whilst the more experienced traders can be rewarded for sharing with others.