NAGA was founded in 2015 as a Fintech company that provides access to world markets through decentralized technology and the necessary support to enable global investors gain greater exposure.
The business is founded under Cyprus legislation and also 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. In addition, NAGA 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 NAGA has taken all necessary steps to be a fully regulated and transparent company, which is 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. In addition, NAGA is backed by a Chinese FOSUN fund, making it a trustworthy firm in any circumstances.
In addition, there is an organization located in SVG that provides 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 with the required requirements provided by MiFID. As such, the assets of traders are often separated from the business and, in the case of insolvency of brokers, are protected by a compensation scheme.
Platforms for Trading
What’s cool, too, 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 thr proprietary NAGA Web platform along with its applications.
MT4 and MT5 do not require many words and introductions due to their world 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 capability, you’ll find excellent copy trading capability based on proprietary algorithms that shape top traders and lead trades along with various rewards.
Also, 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. So if you are a specialist or a novice trader, NAGA welcomes you with unique opportunities to either copy trades or serve as a “master.”
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 based on deposits or so.
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 the copy account will also 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, as well as compare fees to another common broker, Avatrade.com.
Also, always consider the NAGA 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 examples below.
When trading with NAGA, you can have access to flexible leverage that allows you to better track and handle risks according to your trading style. But given that NAGA is a European broker, the company offering completely complies with the ESMA restrictions and is thus subject to recent changes made to reduce leverage rates. Therefore, the max leverage available to retail traders is 1:30, whereas professionals can have access to higher ratios once the professional status has been verified.
What funding strategies does NAGA offer?
And the last section in our NAGA analysis is how to move funds to your trading account. NAGA supports all renown cards, tokens and alternative payment forms such as e-wallets.
In addition, as of February 2019, the company offers NAGA Card & IBAN, which helps users to manage funds and pay for services or products even more conveniently, with all the advantages of NAGA MasterCard.
Minimum Deposit Volume
There is no minimum amount required by NAGA for first-time deposits, but as the broker usually mentions, new traders deposit amounts should be from $200 in order 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
NAGA covers all deposit costs, whichever form you use to move capital, which is perfect for you as a trader. When it comes to withdrawals, usually NAGA doesn’t waive fees, but you can consult with 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, either if you’re a novice or pro, and social trading will help you move forward.