Overall Rating
4.7/5
Rated #208 of
Recommended FX Brokers
Minimum Deposit USD 50
Regulators CySEC, FCA
Dealing Desk with DMA and STP
📱Platforms
NAGA Web Trader, MT4, MT5, iSO and Android Apps
Yes
📈 Total Pairs
45+
📈 Max. leverage
1:1000
Islamic Account No
Trading Fees Low
24 Hours
Our NAGA Account Types Revealed:
- ✔️NAGA Account Types
- ✔️NAGA Account Features
- ✔️NAGA Demo Account
- NAGA Islamic Account
- NAGA Pros and Cons
- NAGA AT A GLANCE
NAGA Overview
NAGA is a leading STP, Market Maker, and No-Dealing Desk (NDD) online trading broker and one of the best online social trading platforms in the world that connects retail, institutional, and professional traders with global financial markets.
NAGA offers comprehensive investment and trading solutions to traders from around the world. The provider also offers proprietary trading platforms alongside MetaTrader 4 and MetaTrader 5 across several devices, allowing for the trading, sharing, and copying of different investments spread across over 950 instruments.
NAGA is known for offering competitive trading conditions, transparent fee schedules, a choice in several different retail investor accounts, and more. All platforms supported by NAGA are free to use and they are filled to the brim with helpful, advanced, flexible trading tools.
NAGA also offers a wide range of educational materials, tools, and resources that help traders with their daily activities. NAGA is synonymous with innovation and since its inception in 2015, the Cyprus-based investment and trading platform and provider has made a name for itself.
NAGA aims to provide simple solutions that empower traders to gain easy access to several financial markets, allowing them to use the best tools and a range of trading strategies to add a competitive edge to their trading.
NAGA Account Types
NAGA provides traders with a choice between six different retail investment accounts, referred to as VIP Levels. These accounts follow in order according to the experience and trading level that they provide trading conditions for.
Traders are urged to register a demo account with NAGA before they start trading on a live trading account. In addition, traders are urged to explore the entry-level accounts and to work their way up the levels as their trading knowledge, skills, and experience increase.
In addition to offering a choice between different accounts and a demo account, NAGA also offers the option for a swap-free account where traders are exempted from earning/paying overnight fees on certain instruments.
NAGA Account Features
Iron Account
The Iron Account is the entry-level account where most traders start when they use NAGA. The Iron Account has the following unique features and specifications.
- A minimum deposit of $250
- Variable spreads that start from 1.7 pips EUR/USD
- The chance to earn up to $0.12 per copied trade in the NAGA Copy Bonus
- On this account, traders who use the Copy Bonus NGC Trading Account could earn $0.22 per trade that they copy
- When traders participate in forex trade, they can earn up to $0.50 per trade with the Copy Bonus
- Access to NAGA 4 Trading Signals
- Withdrawal fees are charged at $5
- Unlimited and free access to NAGA Webinars
- Access is given to eBooks and trading alerts
Bronze Account
The Bronze Account is the next level offered by NAGA traders that offers additional features along with these specifications.
- A minimum deposit of $2,500
- Variable spreads that start from 1.7 pips EUR/USD
- The chance to earn up to $0.15 per copied trade in the NAGA Copy Bonus
- Traders can earn $0.26 per copied trade on the NGC Trading Account Copy Bonus
- The chance to earn up to $0.60 per trade when trading forex and copying trades
- Traders have access to the PI Dashboard, which is a new feature
- Withdrawal fees are charged at $4
- Access to NAGA 4 Trading Signals
- Unlimited and free access to NAGA Webinars
- Access is given to eBooks and trading alerts
Silver Account
The Silver Account is one of the most popular options that is used by more experienced traders as they work their way up along the levels offered by NAGA. The features on this account are as follows.
- A minimum deposit of $5,000
- Variable spreads that start from 1.7 pips EUR/USD
- The chance to earn up to $0.18 per copied trade in the NAGA Copy Bonus
- Traders can earn $0.32 per copied trade on the NGC Trading Account Copy Bonus
- Traders can earn up to $0.70 per copied trade when they trade forex through the copy bonus
- Traders have access to the PI Dashboard
- Withdrawal fees are charged at $3
- Access to NAGA 10 Trading Signals
- Unlimited and free access to NAGA Webinars
- Traders receive two one-on-one tutoring sessions per month
- Access is given to eBooks and trading alerts
Gold Account
The Gold Account offers additional benefits along with these specifications.
- A minimum deposit of $25,000
- Variable spreads that start from 1.2 pips EUR/USD
- The chance to earn up to $0.22 per copied trade in the NAGA Copy Bonus
- Traders can earn $0.42 when they use the Copy Bonus NGC Trading Account offered by NAGA
- Earn up to $0.80 per copied trade when using the copy trade bonus to trade forex
- Traders have access to the PI Dashboard
- Withdrawal fees are charged at $2
- Access to NAGA 15 Trading Signals
- Access is given to premium eBooks and trading alerts
- Traders have access to premium trading contests
- Unlimited and free access to NAGA Webinars
- Traders receive four one-on-one tutoring sessions per month
Diamond Account
The Diamond Account is where the more premier levels start and where traders and investors have access to even more benefits. The Diamond Account consists of the following specifications.
- A minimum deposit of $50,000
- Variable spreads that start from 0.9 pips EUR/USD
- The chance to earn up to $0.27 per copied trade in the NAGA Copy Bonus
- Investors and traders could earn up to $0.55 when they use the NGC Trading Account
- Traders who use the copy trade bonus to trade forex can earn up to $1.00 back per copied trade
- Access to NAGA 20 Trading Signals
- Withdrawal fees are charged at $1
- Traders have access to the PI Dashboard
- Unlimited and free access to NAGA Webinars
- Traders receive eight one-on-one tutoring sessions per month
- Access is given to premium eBooks and trading alerts
- Traders have access to premium trading contests
Crystal Account
The Crystal Account is the highest level that traders and investors can achieve that features the best trading conditions and includes some of the following specifications.
- A minimum deposit of $100,000
- Variable spreads that start from 0.7 pips EUR/USD
- The chance to earn up to $0.32 per copied trade in the NAGA Copy Bonus
- Traders can earn $0.65 per copied trade on the NGC Trading Account Copy Bonus
- When traders use the copy trade bonus to trade different forex pairs, they could earn $1.20 per copied trade
- Access to NAGA 20 Trading Signals
- Unlimited and free access to NAGA Webinars
- Traders receive unlimited one-on-one tutoring sessions
- Access is given to premium eBooks and trading alerts
- Traders have access to the PI Dashboard
- Traders have access to premium trading contests
NAGA Demo Account
All investors and traders who register with NAGA have access to a demo trading account alongside their live trading account. The Demo Account that NAGA offers is funded with $10,000 in virtual funds and the account is completely risk-free.
The benefit of this account is that it is exactly like a live account, with the exception that traders are not exposed to risks and their capital is not at risk. Traders can use their virtual funds to trade different markets, test strategies, practice trading, and more.
NAGA Islamic Account
The purpose of an Islamic Account is that it caters specifically to Muslim traders who follow Sharia law. The law prevents its followers from paying any type of interest, such as overnight fees, which is seen as wasteful or exploitive.
Overnight fees are charged should traders hold positions open for longer after the trading day has concluded and this type of account allows exemption from such fees or interest, should they hold positions open for longer.
NAGA offers an Islamic Swap-Free account that can be requested by contacting NAGA’s customer support once traders have verified their live trading account.
Once the swap-free trading account is approved, traders can expect the following features.
- Once the swap-free account is activated, traders will be exempted from all swap-free charges/earnings on all instruments except gold, silver, and oil.
- Positions that are kept open can remain open for a maximum of 10 calendar days.
- If traders extend their position past this maximum number of days, traders can expect a commission charge of 10 units of the trader’s base account currency per day that the position remains open.
NAGA Pros and Cons
NAGA AT A GLANCE |
|
| Broker's Name | NAGA |
| Headquartered | Cyprus |
| Year Founded | 2015 |
| Regulating Authorities | CySEC |
| Countries not accepted for trade | United States, Japan, Cuba, Iran, Iraq, Canada, Syria, North Korea |
| Islamic Account (Swap Free) | Yes |
| Demo Account | Yes |
| Institutional Accounts | No |
| Managed Accounts | No |
| Maximum Leverage | 1:1000 |
| Minimum Deposit | $250 |
| Deposit Options |
|
| Withdrawal Options |
|
| Platform Types |
|
| OS Compatibility | Android, iOS, Linux, Windows, macOS, web browsers |
| Tradable Assets |
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| Languages supported on Website | English, Spanish, Polish, German, Italian, and several others |
| Customer Support Languages | Multilingual |
| Customer Service Hours | 24/5 |
You might also like: NAGA Demo Account
You might also like: NAGA Fees and Spreads
You might also like: NAGA Islamic Account
You might also like: NAGA Minimum Deposit
Overall Rating
4.7/5
Rated #208 of
Recommended FX Brokers
Minimum Deposit USD 50
Regulators CySEC, FCA
Dealing Desk with DMA and STP
📱Platforms
NAGA Web Trader, MT4, MT5, iSO and Android Apps
Yes
📈 Total Pairs
45+
📈 Max. leverage
1:1000
Islamic Account No
Trading Fees Low
24 Hours
FAQ
TRADING ENVIRONMENT
How many instruments can I trade with NAGA?
You can trade any of the following instruments.
- Forex
- Stock CFDs
- Indices
- Commodities
- Futures
- ETFs
Which platforms are supported by NAGA?
NAGA supports the use of:
- NAGA Trading Platform
- MetaTrader 4
- MetaTrader 5
Does NAGA offer leverage?
Yes, NAGA offers leverage up to a maximum of 1:1000.
What spreads can I expect with NAGA?
You can expect spreads from 0.7 pips EUR/USD on the Crystal Account.
Does NAGA charge commission?
No, NAGA does not charge commissions on trades.
Are there additional charges on the Islamic account?
Yes, there are additional charges on the Islamic Account when traders keep their position open for longer than 10 days. If traders exceed this, they are charged 10 units of their base account currency for every day that the position remains open.
Is NAGA regulated and by whom?
Yes, NAGA is regulated by CySEC in Cyprus.
Is NAGA a recommended forex trading broker for experts and beginners?
Yes, NAGA is recommended for use by experts as well as beginners.
What is the overall rating out of 10 for NAGA?
8/10.
ACCOUNTS
What is the difference between a demo and a live trading account?
A demo account is a practice account that can be used by both beginner and professional traders. Beginners can use a demo account to practice their trading while more advanced traders can use it to test their trading strategies.
Alternatively, traders can also use a demo account to explore what a broker has to offer. Demo accounts are known for the risk-free environment that they offer along with the virtual funds which are used to trade.
Does NAGA offer a demo account?
Yes, NAGA offers a demo account.
How long is the demo account valid?
The demo can be used for an unlimited time.
Which live trading accounts does NAGA offer?
NAGA offers the following account levels.
- Iron Account
- Bronze Account
- Silver Account
- Gold Account
- Diamond Account
- Crystal Account
Does NAGA offer an Islamic Account?
Yes, NAGA offers the option for a live trading account to be converted into a swap-free Islamic account.
What are the available deposit currencies for a live trading account?
- EUR
- GBP
- USD
- PLN
DEPOSITS AND WITHDRAWALS
What is the minimum deposit required to open an account with NAGA?
$250.
How do you make a deposit and withdraw money with NAGA?
You can use any of the following payment methods.
- Debit Cards
- Credit Cards
- Bank Wire Transfer
- Cryptocurrencies
- PayPal
- P24
- Ideal
- Eps
- Giropay
- Skrill
- Neteller
- Sofort, and several other global options according to the trader’s country of residence
Does NAGA charge withdrawal fees?
Yes, NAGA charges the following withdrawal fees.
- Iron Account – $5
- Bronze Account – $4
- Silver Account – $3
- Gold Account – $2
- Diamond Account – $1
How long does it take to make a withdrawal?
Withdrawals can be instant, or they can take a few days to process, depending on the payment method and internal procedures required to process the withdrawal.
