Naga Review

For this NAGA review, we opened a live account and deposited €2,300 to test the platform’s functionality.

We traded popular instruments across different asset classes, such as forex, stocks, and cryptocurrencies, placing 18 trades to evaluate execution speed, spreads, and overall performance.

To explore its unique features, we used NAGA’s social trading tool to follow and copy trades from experienced traders.

During the process, we contacted customer support with several queries to gauge their responsiveness and efficiency.

Lastly, we withdrew a portion of our funds to ensure the withdrawal process was straightforward and reliable.

What is NAGA?

NAGA is a trademark of The NAGA Group AG, a German based FinTech company publicly listed on the Frankfurt Stock Exchange.

It is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC), and other trusted global authorities including the Abu Dhabi Global Market (ADGM), and Seychelles (FSA).

On NAGA, you can trade over 4,000 of the world’s most sought-after assets. CFDs on stocks, Forex, indices, commodities, ETFs, bonds, and crypto.

Here is an overview of NAGA’s standout features:

Licenses and Regulations

NAGA is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC), and other trusted global authorities including the Abu Dhabi Global Market (ADGM), and Seychelles (FSA).

Here’s a comprehensive list of the licenses held by NAGA’s subsidiaries:

Is Naga Safe?

Yes, NAGA is a safe platform to trade on. The broker is regulated by multiple reputable authorities, ensuring compliance with strict financial standards and investor protection measures.

Cyprus Securities and Exchange Commission (CySEC):

NAGA Markets Europe Ltd is regulated by CySEC under license number 204/13. Clients are protected by the Investor Compensation Fund (ICF), which offers deposit compensation of up to €20,000 in case the broker becomes insolvent.

For this review, we opened an MT4 NAGA account with NAGA Markets Europe Ltd, regulated by the Cyprus Securities and Exchange Commission (CySEC), and traded from Italy.

Fees and Commissions

NAGA offers competitive fees across its wide range of tradable assets. The costs for trading forex pairs, stocks, indices, commodities, and cryptocurrencies were found to be in line with or below industry averages.

During our tests, none of the fees for the instruments traded exceeded industry benchmarks, showcasing NAGA’s commitment to providing cost-effective trading for its clients.

Spread Charged in our Trades

For our tests, we traded the most popular instruments in key asset classes on NAGA’s platform, placing three trades per instrument to calculate average spreads:

• CFDs on Forex (EUR/USD): The spread averaged 7 pips, which is competitive for forex trading.
• CFDs on Stocks (Bank of China): The spread was 18 pips, offering cost-effective trading for equities.
• Crypto CFDs (Bitcoin vs Euro): The spread averaged 11074, reflecting the volatility and nature of cryptocurrency markets.

These spreads align with NAGA’s pricing structure and demonstrate competitive costs for a diverse range of tradable assets.

We executed all our trades on NAGA’s platform using the MetaTrader 4 mobile app on an iPhone.

NAGA’s spreads compared to industry averages:

Other fees

NAGA maintains a transparent fee structure, encompassing various charges associated with its services:

• Deposit Fees: NAGA does not impose any fees or commissions on deposits.
• Withdrawal Fees: Withdrawal fees are determined by your VIP User Level:
  • Crystal: Free
  • Diamond: 1 EUR/USD/GBP or equivalent
  • Gold: 2 EUR/USD/GBP or equivalent
  • Silver: 3 EUR/USD/GBP or equivalent
  • Bronze: 4 EUR/USD/GBP or equivalent
  • Iron: 5 EUR/USD/GBP or equivalent

The standard withdrawal fee is $5 or equivalent, with a minimum withdrawal amount of $50. Fees decrease with each upgrade to a higher VIP Level, culminating in free withdrawals at the Crystal Trader level.

Inactivity Fees: NAGA does not charge an inactivity fee.

How to Register at NAGA?

1. Verify Your Identity:
   1. Submit proof of ID (passport or national ID) and proof of residence (utility bill or bank statement, issued within 6 months) within 15 days.
   2. Until verified, you can deposit up to EUR 2,000.
2. Account Approval:
   1. Receive an email confirmation once approved.
   2. Make a minimum deposit of $250 to start trading.
3. Start Trading:
   1. Copy Top Traders: Follow and autocopy the best-performing traders.
   2. Trade 1,000+ Assets: Access forex, stocks, crypto, and more.

Requirements:

• Be of legal age, provide valid ID and proof of residence, and accept NAGA’s Terms and Conditions.

Technology:

• Available on iOS, Android, and most web browsers.

The registration process was quick, taking 10 minutes. Our account, opened with NAGA Markets Europe Ltd (regulated by CySEC, license 204/13), was approved in 2 working days (20–22 January 2025). We submitted ID photos and a utility bill for verification and began trading seamlessly on MetaTrader 4.

Deposit and Withdrawal

NAGA offers clients multiple methods to deposit funds into their trading accounts, including credit/debit cards, bank transfers, PayPal, and eWallets like Skrill and other supported options. Deposits are processed quickly, with fees depending on the amount and method.

• Credit/Debit Cards: No fees for deposits.
• PayPal: Deposits above EUR 250 are free. Deposits below this amount may incur a 75% transaction fee and a fixed currency fee of EUR 0.35 / USD 0.30.
• Skrill: Free for amounts above EUR 250. Deposits below this attract fees of 32 EUR per transaction, a 1.9% receive money fee, and a 1% country surcharge.
• Apple Pay/Google Pay: No fees and processed instantly for supported currencies.
• Bank Transfers: Free for any amount, though processing may take 1–2 business days.

Deposit Test Results

We tested the following methods, ensuring deposit amounts above the thresholds for fees:

Deposits were processed efficiently without any delays or charges above the threshold. Bank wire and Google Pay methods were not tested in this review.

NAGA’s deposit options cater to a range of preferences, ensuring quick and convenient funding for traders.

Important Information:

• Processing Times: Days indicated are for reference only, and NAGA is not liable for delays caused by factors beyond its control.
• Additional Documents: Deposits may be delayed if users are required to provide additional information or documents.
• Sofort Deposits: Any deposits made via Sofort will be blocked for withdrawals for 9 business days until funds are cleared. During this time, the funds can only be used for trading purposes.

NAGA Withdrawal

NAGA facilitates withdrawals via the same payment methods used for deposits, making it convenient for users to access their funds. One withdrawal per calendar month is free, with fees applying for additional requests.

Here’s an example of withdrawal timelines:

The process was smooth and without delays. NAGA ensures withdrawals are completed efficiently, and their Customer Support team is available for any assistance.

Markets and Products

NAGA offers a diverse range of tradable instruments across various markets, providing traders with numerous opportunities.

Here’s an overview of NAGA’s product offerings:

NAGA’s extensive selection of over 2,000 instruments positions it competitively within the industry, offering a broad spectrum of assets to cater to various trading preferences.

Trading Conditions

NAGA offers excellent trading conditions, allowing a wide range of strategies to suit various trader preferences, including high-risk approaches like hedging and scalping.

Traders can also utilize automated trading strategies powered by Expert Advisors (EAs) on MetaTrader platforms. Additionally, there are no time restrictions on how long traders can keep hedged positions open.

*Traders can request a change in leverage by contacting NAGA’s customer support.

These flexible conditions make NAGA a versatile option for both beginner and advanced traders.

Leverage

NAGA offers varying leverage levels based on the entity and asset class, adhering to regulatory requirements. EEA clients have lower leverage limits compared to non-EU jurisdictions. Traders can request leverage adjustments after registration.

Below is an overview of NAGA’s leverage levels:

NAGA offers competitive leverage levels globally, catering to a wide range of trading strategies while adhering to strict regulatory standards for client safety.

Bonus

NAGA occasionally offers promotional bonuses. However, eligibility, bonus terms, and conditions vary by region and regulatory restrictions. Traders are encouraged to check NAGA’s official website or consult with customer support for current offers and requirements.

NAGA Trading Platform

NAGA Web and Mobile App:

• • NAGA’s Web App encompasses nearly all features from all platforms supported by NAGA, providing a user-friendly and advanced platform.

MetaTrader 4 (MT4) and MetaTrader 5 (MT5):

• • NAGA supports MT4 and MT5 for desktop, Mac, and mobile devices, offering direct market access, advanced analytics, and automated trading capabilities.

NAGA MetaTrader 4 (MT4) Platform Review

The MetaTrader 4 (MT4) platform quickly became our go-to choice on NAGA because of its advanced features. We loved having access to over 2,000 custom indicators alongside 30 built-in tools, which made analysing the markets much easier. We found MT4 to be versatile, whether you prefer manual trading or rely on automation through Expert Advisors (EAs). Its user-friendly interface and powerful charting tools make it ideal for traders of all levels, and we had a seamless experience using it.

Research and Tools

NAGA goes above and beyond to empower its traders with robust research tools and educational resources, creating a well-rounded trading experience.

• Market Insights: NAGA provides real-time market news, price analysis, and updates to keep traders informed about key market events. While concise, these updates help traders understand the day’s market action and opportunities.
• Economic Calendar: Available on NAGA’s platform, the calendar highlights upcoming economic events and announcements, enabling traders to plan their strategies around market-moving events.
• Copy Trading Leaderboard: Traders can analyze and follow the strategies of top-performing traders through the social trading leaderboard, learning by observation and practice.
• Extensive Educational Content:
  • NAGA offers video tutorials, webinars, and guides to help traders master platform features and trading fundamentals.
  • Glossaries and beginner courses introduce key trading concepts and terms.
  • Step-by-step guides provide insights into advanced topics like calculating profits, leveraging positions, and understanding pip values.

Education

NAGA provides a well-rounded suite of educational resources tailored to help traders of all experience levels:

• Courses and Tutorials: An Introduction to Forex course and platform tutorials cover trading fundamentals and advanced features like copy trading.
• Trading Glossary: Defines key terms like margin, leverage, and pip value, though it could include more advanced concepts.
• Guides and Rules: Practical resources on calculating profits/losses, contract sizes, and risk management.
• Interactive Learning: Regular webinars and the copy trading feature allow traders to learn directly from experts and top performers.

Customer Service

We contacted NAGA’s customer service to learn about their copy trading feature. The live chat agent explained that users can copy top traders by reviewing their performance metrics like win rate and risk score. While there are no direct fees for copying, spreads or trading costs may apply based on the assets.

The agent also noted that users can set limits on investment amounts per trade and overall for copied traders. In an email follow-up, NAGA confirmed that top traders earn commissions via Autocopy and copy trading is available to all verified accounts.

The support team provided clear and prompt assistance, showcasing their expertise in this key platform feature.

Here is the result of our test:

NAGA’s customer service is prompt, clear, and reliable. Live chat responses are near-instant, and email replies are detailed within one working day, showcasing their commitment to user support and efficient handling of inquiries.

Conclusion

In conclusion, our experience with NAGA was largely positive, as the platform delivered on its promises of fast execution, competitive spreads, and a wide range of tradable instruments.

The deposit and withdrawal processes were straightforward, with no unexpected fees for deposits above the required thresholds, and withdrawals were processed efficiently within a working day.

The platform’s social trading feature stood out, offering an accessible way for traders to follow and copy top performers.

Customer support was prompt, responsive, and helpful, providing clear answers to our queries regarding copy trading.

While NAGA’s fees were competitive, the spreads on certain instruments were slightly above industry averages, but still within acceptable ranges.

Overall, NAGA’s blend of features, reliable service, and strong regulatory backing makes it a solid choice for both new and experienced traders looking for a versatile platform.

We recommend NAGA to traders of all levels, from beginners to experienced professionals.

NAGA is ideal for traders who are:

• New to trading or seasoned investors
• Interested in copy trading and social trading
• Utilising a diverse range of assets like forex, stocks, and cryptocurrencies
• Seeking a user-friendly platform with mobile and desktop compatibility

NAGA might not suit you if you are:

• Focused solely on advanced futures trading
• Looking for traditional long-term stock investment tools
• Preferring a platform with minimal social trading features