NAGA was founded in 2015 as a Fintech company providing access to world markets through decentralized technology and the necessary support to enable global investors to gain greater exposure.
The business is founded under Cyprus legislation and complies with European legislation enabling access to trading financial markets, cryptocurrencies, stocks and virtual products in support of all major global markets.
NAGA provides a range of ways to make financial investments by either manual or automated investment, social trading opportunities, trading of 500+ instruments, ICOs, etc. The broker is a publicly-listed FinTech company in Frankfurt, funded by the Multibillion Fund FOSUN, which offers transparency over trading processes.
NAGA is continuously adding new features that enable the business and its clients to grow rapidly.
Is NAGA secure or is it a scam?
The broker has taken all necessary steps to be fully regulated and transparent. They are not only a publicly listed company but also a broker authorized by CySEC in Cyprus and a technology company operating in Germany.
NAGA is a trademark of NAGA Group AG, a German-based FinTech company publicly traded on the Frankfurt Stock Exchange (WKN: A161NR ISIN: DE000A161NR7). It provides a certain degree of stability along with a solid government and institutional foundation. The broker is backed by a Chinese FOSUN fund, making it a trustworthy firm in any circumstances.
There is an organization located in SVG that provides a global expansion to the NAGA service. As long as it is approved and controlled by European legislation, it is considered safe even if it is registered in the offshore region.
In addition to various performance standards and high reliability as a public entity, NAGA also maintains its trading service following the requirements provided by MiFID. The assets of traders are separated from the business, in the case of the broker’s insolvency, the funds are protected by a compensation scheme.
What’s cool, as we discovered in our NAGA analysis, is the option between the platforms. You can either choose MetaTrader4, its newer version of MetaTrader5 or use the proprietary NAGA Web platform and its applications.
MT4 and MT5 do not require many words of introduction due to their popularity and proven powerful capabilities that remain at your fingertips for either manual or automatic strategies. The NAGA trading platform gives you additional features and a truly perfect balance between a friendly GUI and its sophisticated solutions.
NAGA, being a FinTech business, has made this truly great software tailored to the most challenging tastes, coming to you with online support, news streaming and robust research tools. Although one of the key parts of NAGA’s offering is social trading, you’ll find excellent copy trading based on proprietary algorithms that shape top traders and lead trades as well as various rewards.
There’s a pretty great offering made via NAGA Exchange that allows unlimited and commission-free crypto and fiat trading through its largest social network. If you are a specialist or a novice trader, the broker welcomes you with unique opportunities to either copy trades or serve as a “pro.”
What are the costs of NAGA?
Once you decide to trade with NAGA, you can choose from 5 fiats (USD/EUR/GBP/PLN/CHF) or 4 crypto-based trading accounts available to all types of investors with no different trading conditions.
NAGA states on its website that it provides the lowest spreads for all traders given the size of trading accounts, so that any investor can have better trading conditions. The typical spread for EUR/USD is 1.2 pips, which is considered to be a good spread in the industry. As for other devices, there might be fee charges for some of the properties that you can receive directly from the site.
All expenses and the distribution of income between the master account and copy account will be determined automatically by using Social Trading.
For example, you can refer to the table below and see the average spread for some currency pairs.
Always consider the rollover or overnight fee as an expense, charged for positions kept longer than a day and determined by the direction you trade – are either or purchasing. Again, please refer to the examples below.
When trading with NAGA, you have access to flexible leverage allowing you to better track and handle risks according to your trading style. But given that NAGA is a European broker, the company offering complies with the ESMA restrictions. They were thus subject to recent changes made to reduce leverage rates. Therefore, the max leverage available to retail traders is 1:30. Professionals can have access to higher ratios once their status has been verified.
What funding methods does NAGA offer?
The last section in our NAGA analysis is how to move funds to your trading account. The broker supports all renowned cards, tokens and alternative payment forms such as e-wallets.
As of February 2019, the company offers NAGA Card & IBAN. This helps users to manage funds and pay for services or products conveniently, with all the advantages of NAGA MasterCard.
Minimum Deposit Volume
There is no minimum amount required for initial deposits. Although, new traders minimum deposit should be from $200 to be exposed to almost any market and try out NAGA terms. Notice also that each form of payment can require a defined minimum sum available for transfer.
Cost of Deposit Fee
The broker covers all deposit costs, for all funding methods, which is perfect for you as a trader. When it comes to withdrawals, usually NAGA doesn’t waive fees. You should consult your payment provider if there are any adjustments that may be made due to international transfer rules.
Overall, our NAGA Review shows us a business that is dedicated to strong technology and the growth of trading innovation. So trading with NAGA will offer you vast investment opportunities, whether you’re a novice or pro. Social trading will help you move forward.