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NAGA Trader lets you have the online trading freedom you need - mirror trading, crypto, ETFs, indices, and much more – experiment and find your forte!

8,9 / 10

NAGA lets you have the online trading freedom you need - mirror trading, crypto, ETFs, indices, and much more – experiment and find your forte!

All trading involves risk. Only risk capital you’re prepared to lose.
NAGA Trader lets you have the online trading freedom you need - mirror trading, crypto, ETFs, indices, and much more – experiment and find your forte!
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About broker

NAGA Trader Ltd. is a Cyprus-based fintech company. Established in 2015, its specialty is social and cryptocurrency trading, using decentralized tech to grant users safe access to the global markets. It is one of the fastest-growing brokers and is listed on the Frankfurt Stock Exchange.

Within a few months of the announcement of its initial public offering, it reached the milestone of $50 million. So, it is no wonder that NAGA Trader quickly grew to accommodate its current customer base of +1 million. This remarkable feat has earned it a prominent position in the field of online trading.

In this NAGA review, we will be delving into the complexities of this market maker CFD broker. Authorized by the Cyprus Securities and Exchange Commission (CySEC), NAGA Trader allows users to invest in more than 950 different assets, +500 instruments, and +800 markets.

By partaking in mirror trading, cryptocurrency trading, and exchanging other forms of assets, such as stocks, indices, and forex, some users have become pros at online trading. Such pros can profit from their wisdom and earn as much as €100,000 by letting others copy their trading patterns. Furthermore, additional rewards can be earned by inviting new users to the NAGA platform.

Our NAGA Trader review will show you how this site eases novices into the online trading scene. From very low commissions to risk-reduction tools, many features help noobs build their investment portfolio confidently. Also, with free cryptocurrency transactions between friends, mutual cooperation between traders is easier than ever!

Handling cryptocurrency becomes a breeze with the options NAGA offers – wallet, trading, real-time exchange, and super-secure storage. Learn more about this platform in our NAGA review below.

Regulation and License

Naga Trader regulation and License
Naga Trader regulation and License

As mentioned earlier, CySEC has licensed NAGA Trader and currently regulates its operation under license number 204/13.

At the start of our NAGA Trader review, we would like to mention that NAGA Trader holds a cross-border license. This allows it to manage investments and provide relevant support services to its customers. Also, Cyprus is an EU member state, and CySEC falls under the European Securities and Markets Authority (ESMA). It is but natural that CySEC, and in turn NAGA Trader, has to obey both the local laws of Cyprus and the international laws of the EU. The most prominent of these laws are as follows.

• Cyprus Investment Services and Activities and Regulated Markets Law of 2017

• EU Markets in Financial Instruments Regulation (MiFIR)

• EU Markets in Financial Instruments Directive II (MiFID II)

In St. Vincent and the Grenadines (SVG), NAGA Global is registered as an operating subsidiary of the NAGA Group, and it is regarded as an international business company (IBC).

RNAGA Trader has more than one office. Officially, it has the following registered addresses.

Sr. No. Body  Address
1 NAGA Markets Ltd. Ariadnis 7, Moutagiaka, 4531 Limassol, CY
2 NAGA Capital (SV) Ltd. Trust House, 112 Bonadie Street, Kingstown, SVG
3 NAGA Capital (CY) Ltd. Eurosure Tower, 3rdFloor,2112 Nicosia, CY

NAGA Trader is indeed an international broker; however, it does not operate in all countries. 

We wanted to make it clear through our NAGA review that although this online trading platform hosts clients from +200 countries, it does leave out many major nations. Its service does not extend even to many developed countries because of the non-compliance of its EU-based policies with their national laws. Still, it is structured to cater to the needs of a wide, international demographic. Its website supports eight different languages, and there are seven client support languages too.

Website Languages Client Support Languages
 Czech Arabic
English Czech
German English
Hungarian Italian
Italian Polish
Polish Spanish
Portuguese German
Spanish

Furthermore, the list of countries with limited or no access to NAGA Trader’s website includes Belgium, China, Cuba, Canada, Israel, Iraq, Iran, Japan, North Korea, Syrian Arab Republic, Sudan, Turkey, United Kingdom, United States, Yemen, and others.

NAGA Trader's regulatory details are also available on their website for existing and potential users to see.

Registration Process

Registration Naga Trader
Registration Naga Trader

NAGA Trader lets you first open a demo account, give it a try, and then upgrade to a live account. Next, we’ll elaborate on this feature in our NAGA Trader review.

Online trading, especially cryptocurrency trading, is no joke. The market can sometimes be very volatile, thus making this a high-risk business. An investor cannot trust just anyone with investing their hard-earned money in such a rapidly changing market. Also, the danger of fraud and scams always looms wherever money is involved.

To alleviate such concerns, NAGA Trader gives you a try-out, zero-profit, zero-risk training account. NAGA has cross-platform compatibility. You can access their platform across all mobile devices. Apps are also available for Android and iOS operating systems.

To open an account at NAGA Trader, there is an easy step-by-step process. The details of this process are given below.

Step 1: Open a Demo Account

The initial signup is very easy, and only basic info, such as name and email address, is asked for. Your first account will be a free training account. You will be given $2,500 demo funds to experiment with.

Step 2: Fill in a Questionnaire

Once you have practiced and have become comfortable with how it all works, you can fill in a questionnaire regarding your knowledge and past experience in online trading and cryptocurrency buying/selling. This will be the first step in opening a live account.

Step 3: Submit the Required Documents

Next, the website or app will demand some documents of you. This is nothing major – just a way to check your eligibility to join the NAGA Trader customer base.

Step 4: Upgrade to a Live Account

You will find an “upgrade” option within your account. Select it and complete the signup process for your live account.

Step 5: Verify Your Identity

Submit some form of proof of identity. This could be a driver’s license, passport, or even a utility bill that is no older than 3 months. This step ensures that only legit accounts are able to trade with real money, filtering account fake or fraudulent accounts.

Step 6: Make a Deposit

There are around 20 payment methods available on NAGA Trader. Make a deposit using any one of them. If you want to try your hand at cryptocurrency trading, you can convert this credit into cryptocurrency. Many options are available, from Bitcoin to Ethereum. Finally, you can now start trading with some real money!

NAGA’s account registration process is relatively simple. As you will see later on in our NAGA review, this company also gives you the freedom to choose from many types and tiers of accounts.

Trading Conditions

Like other online trading platforms, NAGA Trader too offers a business atmosphere that is unique to it. This specific atmosphere is maintained by the trading conditions and terms it abides by, some of which are as follows.

  • Commissions

NAGA Trader has no commissions on most of the instruments, such as forex and cryptocurrency, while others do have commissions, albeit very low.

Instrument Commission
Forex 0%
Cryptocurrency 0%
Commodities 0%
Futures 0%
Stocks 0,1%
ETFs 0,2%
  • Fees

Although there are neither heavy fees nor a minimum deposit threshold on a basic account, some hidden costs exist, but they are rarely a problem. For example, if an account has been inactive for six months, NAGA Trader will email the client about it. The user will be given a month’s notice. If the state of inactivity still continues, the website will charge a maintenance fee for the account.

  •  Spreads

Competitive spreads are the source of profit on NAGA Trader. It's crucial to keep an eye on these spreads because their size determines the size of the cut of the broker in the user’s profit. It might seem insignificant after only one trade; however, the sum can build up over a longer time. Current spreads are displayed on the site, with the average USD/Euro spread currently cited at 1.2 pips.

  • Leverage

There is similar leverage of 1:200 irrespective of the type of account. Such high leverage increases not only the client’s purchasing power but also the risk of monetary loss. Therefore, for the US and Japan, an upper limit has been imposed at 1:50 and 1:25, respectively.

  • Negative Balance Protection

NAGA Trader has a “stop-loss” system that automatically comes into effect when an account’s balance drops to zero. It limits the financial loss incurred by a trader.

  • Account Segregation

NAGA keeps its credit in trusted international banks, wherein its own assets are kept separate from those of its clients. This gives the clients some peace of mind by securing their capital from potential fraud by the broker.

  • Funds

It is an Investor Compensation Fund (ICF) member. So, if NAGA Trader violates any terms of its contract or goes bankrupt, the covered clients (mainly those in the UK and EU) will be given up to 20,000 euros as compensation.

In the end of the trading conditions section of our NAGA Trader review, it is important to mention that this platform supports many brokers, including (but not limited to) FXCM, AxiTrader, BDSwiss, and ThinkMarkets.

Broker Products

Naga trading product
Naga trading product

NAGA Trader offers many broker products, as well as ancillary tools so that you can make informed and quick decisions about cryptocurrency trading. Some of these features are listed below.

  • Leader Board: Look for people to copy.
  • Trend Charts: Find out when to invest.
  • News Feed: Join the trader community.
  • Messenger: Get in touch with fellow traders.
  • NAGA Card: Handle credit with NAGA’s quick payment option.
  • NAGA Coin: Invest using the platform’s utility coin.
  • NAGA Wallet: Store your credit in a safe place.
  • NAGA Trader TV: Learn something new from this info source.
  • NAGA Protector: Restrict loss with this built-in function.
  • NAGA MetaTrader 4: Become a trading pro.
  • Price Alerts: Be notified about the best prices.
  • Trading Calculator: Make an estimate before investing.
  • Webinars: Hear what pros have to say.
  • Support: Avail the best customer service.
  • Crypto Exchange: Earn profits through cryptocurrency trading.
  • Auto-Copy Option: Follow in the footsteps of top traders.
  • CYBO: Let NAGA’s robot-advisor make your online trading experience easier.

In any NAGA review, it is necessary to mention CYBO. This AI is armed with innovative, algorithmically driven skills like auto-copy and active risk management. You can have a CYBO of your own at the price of €1000.

 Account Types

There are many types of accounts on NAGA Trader. To be a successful trader on this platform, you need to understand the facilities available with each one of them.

  • Demo and Live Accounts

New users are given a training account, called a demo account. They can test the site using this account by investing demo funds. If they like the experience, they can upgrade to live accounts, which let you invest real money. Live accounts require a certain minimum deposit to be activated.

  • Sub-accounts

When you open an account, you are given the option to open two of each of the following kinds of sub-accounts.

i) Live MetaTrader 4 account

ii) Live MetaTrader 5 account

These differ in their base currencies, thus allowing you to employ a variety of strategies to earn a profit.

  • NAGA VIP Levels

NAGA uses a tier system for its accounts. Each tier is defined mainly by the total sum deposited by the user. Although losing money during trade does not result in a downgrade, withdrawing a large amount may demote you to a lower tier. The tiers range from iron to crystal, the latter being the highest with a flat deposit threshold of $100,000 dollars.

Naga account types
Naga account types

Beginners should not be intimidated by the high deposit thresholds of the higher tiers. While doing online trading, they can slowly build up to silver (which is the recommended tier) or gold (the most popular tier).

Deposits and Withdrawals

One thing we can absolutely not omit from our NAGA Trader review is the sheer freedom it offers when it comes to transaction options. You can use any of the methods given below to deposit credit to or withdraw money from your NAGA wallet.

Naga trader deposit
Naga trader deposit

Credit/Debit Cards

• Maestro

• Mastercard

• Visa

Wire Transfer

• Eurobank

• Guaranty Trust Bank

• Bangkok Bank

• Kasikorn Bank

• Krungthai Bank

• Krungsri

• Government Savings Bank

• And Others

Cryptocurrency

• Bitcoin

• Bitcoin Cash

• Ethereum

• NAGA Coin

• Litecoin

• Dash

Alternative Payment Methods

• Sofort

• Neteller

• Skrill

• Giropay

• IDeal

• EPS

• And Others

A point to note in this part of our NAGA review is that, regardless of the transaction option used, the minimum deposit sum is $250. The processing is almost instant, and there is no transaction fee in most cases. The max deposit depends on the country, but in the case of cryptocurrency, there is no upper limit.

Advantages and Disadvantages 

This is the most important part of our NAGA Trader review. By weighing the pros and cons against each other, a clearer picture of this platform can be painted.

Advantages Disadvantages
Mirror trading option High risk, especially for novices
Simplicity, made possible by CYBO and NAGA portfolios Absence of service in many major countries
Free mobile app and an even better website Some hidden expenses
User-friendly layout High deposits needed to reach the higher VIP levels
Availability of demo accounts
Bonuses based on NGC
Social aspect: learning together with other traders
A large selection of tools for trading

NAGA Trader is undoubtedly an emerging giant in the area of cryptocurrency trading. It has its pros and cons. However, the judgment of which overweighs the other will depend entirely on your needs, total capital, and most importantly, your experience.

We hope that our NAGA review answered most of your questions related to this online broker. For more information, give their official website a visit. If you are interested in other brokers too, try reading some of our other articles for some insight into the online trading industry.

SUMMARY
RECOMENDED
Easy to use
10 / 10
Reputation
9 / 10
Minimizing Fees
8 / 10
Customer support
7 / 10
Deposit/withdrawal
13 / 10
Build-in Analytics
11 / 10
8,9
Broker: Naga
Founded in: 2015
Minimum deposit: 250
Demo account: Free
Commissions & fees: 0,1 - 0,2 %
Regulation: CySEC licence
Visit official website
Broker’s statistic
Broker: Naga
Founded in: 2015
Minimum deposit: 250
Demo account: Free
Commissions & fees: 0,1 - 0,2 %
Regulation: CySEC licence