Naga Review 2022
The social trading platform known as Naga is a regulated one, and it enables users of all experience levels to copy and share trading methods on over 950 assets, including CFDs on forex, stocks, and cryptocurrencies. Clients have the option of connecting to the financial markets through the established MT4 and MT5 platforms, as well as the broker’s unique copy trading platform. In this analysis, we cover a wide range of topics, including leverage rates, fees, deposits, withdrawals, and more. Discover the inner workings of Naga right now.
What Is Naga?
The social investment platform known as Naga provides users with access to a diverse selection of copy trading capabilities that may be used to a vast asset portfolio. All retail trading accounts share a single live account for trading purposes. Members whose trades are duplicated get paid instantly for their transactions.
Yasin Qureshi and Benjamin Bilski are responsible for the launch of Naga Group AG in 2015. In 2017, the business raised more than $50 million through an initial public offering on the Frankfurt stock exchange. This was accomplished in only a few short months.
At the moment, the brokerage’s main office can be found in Limassol, which is located in Cyprus.
The Cyprus Securities and Exchange Commission oversees the operations of Naga Markets Ltd, which is a subsidiary of Naga Group AG and is based in Cyprus (CySEC).
How Online Trading Communities Operate
Investors are able to engage in conversation and exchange ideas with other members of the community when they participate in social trading. Traders can also replicate and implement the strategies of other users. Trading in this manner is beneficial for novices who are just starting out and want to learn strategies and pick up pointers from more experienced traders.
A social trader has the option to subscribe to the channel of another trader, allowing them to examine the other trader’s positions and trading tactics. Users are then given the opportunity to have their trades automatically copied by other users.
Traders can still apply their own risk parameters and monitor the success of their portfolios in real-time. Additionally, traders can deposit and withdraw funds as necessary.
Markets
Over a thousand different assets are available for trading on the NAGA platform, including Stocks CFDs, Stocks, Crypto CFDs, Indices CFDs, Forex CFDs, Commodities CFDs, and more.
Buying and Selling Platforms
Platform for the Web Naga
The customised platform offered by the broker is known as Naga Web. It enables customers to easily configure price alerts from within a web browser and instantly copy trades made by other members. The majority of the functionalities featured in MT4 and MT5 are available on the platform, along with a number of other capabilities, including the following:
• Unrestricted access to all of Naga’s commercial markets
• Messenger for sharing analysis
• A ranking of the “top investors” in the world
• Individually assigned account manager
• Make copies of the market signals.
• Capabilities for automated trading
• Streaming news from the market
• Digital wallets
Naga app
The Naga Platform can also be downloaded as a mobile app for use on mobile devices running either iOS or Android.
MetaTrader 4
The MT4 trading platform is widely used in the foreign exchange market because of its intuitive user interface and its suitability for novice traders. Among its many features are:
• The four different kinds of orders that are currently awaiting
• There are three categories of immediate orders
• User interface that can be customised
• 30 technical indications
• 31 images and illustrations
MetaTrader 4
Downloads of MT4 are available for Windows and Mac computers, as well as mobile devices running iOS and Android.
MetaTrader 5
MT5 is another another market-leading platform that caters to established investors and comes packed with cutting-edge functionality. When compared to the MT4 terminal, the MT5 terminal from Naga provides users with access to a greater variety of instruments, including ownership of actual shares from which they can earn dividends. The following are additional features:
• The capability to move money from one account to another
• There are six different kinds of orders that are still pending
• Four distinct kinds of immediate instructions
• 38 technological objects
• 44 images and illustrations
• Economic calendar
• Market depth
• Secure login
MetaTrader 5
Downloads of MT5 are offered for computers running Mac OS X and Windows, as well as for mobile devices running iOS and Android.
Fees
Spreads on Naga are variable, and the majority of assets have no commission attached to them. For example, the typical spread on the GBP/USD pair is 1.8 pips, and the commission on indices is about the same. CFD stocks and ETFs are the only types of equities that incur commission fees (0.20 and 0.10 percent, respectively).
Every copied trade results in a charge of €0.50 from Naga, which is a flat price. In addition, an additional 5% commission is added to all trades that result in a profit of €5 or more. When copy trading, it is quite simple to keep track of expenditures because to the straightforward charge structure.
Leverage
Within the Trading Accounts area, members are able to view the leverage on their accounts. In order to comply with the legal requirements, the leverage offered to retail clients might range anywhere from 1:1 to 1:30, depending on the product.
The following is a list of the retail sector’s leverage restrictions by asset:
• Commodities, with the exception of gold, have a 1:10 leverage.
• Major futures indices – 1:20
• Futures commodities – 1:10
• The most important currency pairs – 1:30
• Minor currency pairs trading at 1:20
• Other futures, a 1:10 probability.
• The primary indexes, at 1:20
• Minor indices, with a ratio of 1:10
• Stocks – 1:5
• Crypto on a 1:1 basis
• Gold – 1:20
• ETFs – 1:5
Transactions: Deposits and Withdrawals
Over twenty different deposit and withdrawal methods are available with Naga. However, the possibilities open to you will be determined by the country in where you are based. Among the methods are:
• Bank Wire transfer (Instant)
• Credit/Debit card i.e. Visa, Mastercard and Maestro (Instant)
• Cryptocurrencies, such as Bitcoin, Naga Coin, or Ethereum to name a few (Instant)
• Alternative payment options i.e. Skrill, Giropay and Neteller (Instant)
All methods need a minimum deposit of $250 or comparable. The maximum deposit amount required of you is determined by the nation in which you reside.
Requests to withdraw funds are typically processed the same day they are received, or the day after if the request was made outside of normal business hours. Although there are no costs associated with deposits, there is a normal withdrawal fee of $5 or the equivalent, and the minimum amount that can be withdrawn is $50.
Free Trial Account
A free demo trading account is available for potential customers to use. When you join up for Naga, you will automatically be given access to the test account, which has a starting balance of $10,000 worth of virtual currency. Through the use of the simulator, you will be able to become familiar with the Naga platform and interface while simultaneously testing out your trading methods in a risk-free environment.
Dealing with Naga Can Have Its Benefits
Trading in cryptocurrencies
• Access to a free trial account
• Reasonable costs for copy trading
• Materials for use in instruction
• An attentive and helpful support staff
• A leaderboard of traders whose trades can be copied
• A web-based proprietary operating system
• The Naga platform is available for iOS and Android devices
Negative Aspects Of Doing Business With Naga
• Withdrawal fees
• Fees for additional nights
• $250 minimum deposit
• There is just one default account available.
Assistance to Customers
You can reach customer service via a number of different channels, which are described below. The team is available from Monday through Friday, 9:00 p.m. to 10:00 p.m. Eastern Standard Time (EEST).
• Email – service@naga.com
• Live chat can be accessed by scrolling to the very bottom of the website.
• The United Kingdom’s telephone number is +44 20 3318 4345, while the international number is +357 25 041410
• HQ Address – Ariadnis 7, Moutagiaka, 4531 Limassol, Cyprus
Security
Client monies are kept in separate accounts with EU banks that are subject to regulation. This helps to ensure that the money are not misappropriated and ensures that they are kept distinct from the capital of the company. Firewalls and encryption techniques are also utilised to ensure the interface is protected. In addition, multi-factor authentication, which adds an extra layer of protection, can be enabled for each and every one of your Naga accounts when you log in.
Naga Verdict
The city of Naga has a great deal to offer. More than 950 different assets are available for users to imitate deals made by professional investors. The social trading broker provides MT4 and MT5 in addition to its own web-based terminal, which comes packed with a comprehensive feature set. The fact that it is subject to stringent regulatory scrutiny from both the CySEC and the FCA further contributes to its high trust rating. The one significant negative is that the minimum deposit requirement is rather hefty.
FAQ
How can I get started with Naga as a new customer?
To quickly create an account with Naga, simply click on the following link and then on the button labelled ‘Register.’ You will be required to prove both your identity and your place of residence, in addition to completing a brief questionnaire. After your account has been validated, you will be able to log in and begin trading immediately. Additionally, upon request, the exchange can set you up with a swap-free account that is Islamic.
Is It Risk-Free to Do Business with Naga?
The level of client security that Naga provides is very high. The funds belonging to traders are kept in separate accounts at major banks in the EU. A robust trading environment can also be helped along by the presence of additional security elements throughout the login process. Having said that, engaging in online trading is fraught with peril, particularly when one is investing in leveraged CFDs. In addition to this, there is no assurance that the techniques you replicate on the platform will result in profitable trades.
Is Naga Trading Legit?
Under license number 204/13 issued by the Cyprus Securities and Exchange Commission (CySEC), Naga Trading is a legitimate broker that is supervised by the Cypriot government. As a consequence of this, we have no doubt that the company in question is a trustworthy copy trading broker.
How does Naga Trading actually function?
Users of Naga’s social trading network are brought together to discuss various trading techniques and share knowledge with one another. Clients have the ability to copy as many trading strategies as they see fit, and they can examine the performance of other Naga traders by using the leaderboard. You will earn cash deposited directly into your account each time a user duplicates one of your trades. The copy trade service can only be accessed through the Naga Web platform at this time.
What Time Do Stores On Naga Typically Open And Close?
Users have access to the trading platforms around the clock. Nevertheless, the specific asset will dictate the hours that the market is open for trading. One good example is the foreign exchange market, which is open around the clock. Take note that during times of low liquidity, spreads may become more wide.
Countries That Are Allowed In
if you would like more information about the countries and/or jurisdictions in which the Company delivers its services, click here. Please go to https://naga.com/, which is the official website of NAGA.
Alternate names to the name Naga
If you are interested in finding more brokers who are comparable to Naga, we have produced a list of the top 5 brokers that are in a similar position as Naga and have included it below. This list of other brokers that are similar to Naga is arranged in order of similarity, and it only includes businesses that are willing to work with traders from your region.
1. Pepperstone – Pepperstone is a broker that caters to retail as well as professional traders, and it offers CFD trading. On the MT4, MT5, and cTrader platforms, customers can trade foreign exchange (FX), indices, commodities, and equities.
2. eToro — eToro is a multi-asset platform that allows users to invest in equities and cryptoassets, in addition to trading CFDs. eToro also allows users to trade CFDs.
3. FXChoice – FXChoice is an offshore retail broker that provides downloadable versions of the MT4 and MT5 trading platforms in addition to online CFD trading.
4. Admiral Markets – Admiral Markets is a renowned Forex and CFD broker, and they offer the MT4 and MT5 platforms to its clients.
5. TMGM – TMGM is an aggressive foreign exchange (Forex) and contract for difference (CFD) broker that offers a large variety of low-cost instruments, features, and tools.
