- 14.1 How Would I Open An Account With Naga?
- 14.2 Is Trading With Naga Safe?
- 14.3 Is Naga Trading Genuine?
- 14.4 How Does Naga Trading Work?
- 14.5 What Are The Trading Hours On Naga?
Naga is a managed social trading platform that permits customers, everything being equal, to share and duplicate strategies on more than 950 assets, including forex, stocks, and cryptos. Customers can utilize the broker’s proprietary duplicate trading platform or associate with the financial markets utilizing the established MT4 and MT5. Our audit separates leverage rates, expenses, deposits, withdrawals, and that’s just the beginning. Discover how Naga functions today.
What Is Naga?
Naga is a social investing system that offers admittance to a wide scope of duplicate trading highlights across a broad portfolio of assets. One live account is accessible to all retail trading accounts. Individuals whose trades are duplicated get quick payment.
Naga Group AG was established in 2015 by Yasin Qureshi and Benjamin Bilski. The organization conducted its first sale of stock in 2017, surpassing $50 million in a couple of months on the Frankfurt stock exchange.
The brokerage is presently settled in Limassol, Cyprus. However, it has ten workplaces all throughout the planet, remembering South Africa, Mexico, and India.
Naga Markets Ltd runs under the Naga Group AG and is managed by the Cyprus Securities and Exchange Commission (CySEC). The European element is authorized with the UK Financial Conduct Authority (FCA).
How Social Trading Works
Social trading permits investors to communicate and share thoughts with local area individuals. Traders can likewise duplicate and execute the strategies of different clients. This strategy for trading is helpful for new starters who need to learn methods and get tips from seasoned investors.
A social trader can decide to buy into another trader’s channel where their positions and systems can be seen. Clients then, at that point, have the alternative to consequently copy their Bitcoin trades, for instance.
Traders can, in any case, execute their own danger parameters and screen portfolio performance in real-time, keeping and pulling out funds depending on the situation.
Naga offers over 950+ assets:
- Forex – 48 minor, major and exotic currency pairs, for example, GBPUSD and AUDJPY
- Cryptocurrencies – 27 cryptocurrencies, for example, BTC, ETH, LTC, and XRP
- CFDs – 400+ stock CFDs, for example, Passage, General Mills, and Tesla
- Commodities – 7 commodities, for example, Oil, Copper, and Wheat
- Indices – 19 global indices, for example, S&P500, UK100, and US30
- Stocks – 400+ stocks, for example, Apple, Coca Cola, and Netflix
- Futures – 12 futures, for example, FTSE100, JAP225 and DE30
- ETFs – 17 ETFs, for example, EEM, GSG, and DIA
Naga Web Platform
Naga Web is the broker’s representing platform that permits clients to consequently copy trades from different individuals and configure price cautions straightforwardly from a web browser. The platform offers a large portion of the users found in MT4 and MT5, close by a progression of extra highlights:
- Full access to all Naga trading markets
- Courier for sharing analysis
- ‘Best investors’ leaderboard
- Individual record director
- Copy-trading signals
- Autotrading highlight
- Market news feed
- Digital wallets
The Naga Platform is likewise accessible as a mobile application on iOS and Android.
MT4 is a mainstream forex trading platform that has a user-friendly interface and is reasonable for fledglings. Highlights include:
- 4 kinds of pending orders
- 3 kinds of instant orders
- Customizable interface
- 30 technical indicators
- 31 graphic objects
MT4 is accessible to download on Macintosh, Windows, and as a portable application on iOS and Android.
MT5 is another industry-leading platform with cutting-edge highlights for set-up investors. Naga’s MT5 terminal offers a more extensive scope of instruments contrasted with MT4, including responsibility for shares where clients can acquire dividends. Different highlights include:
- Capacity to move funds between accounts
- 6 sorts of pending orders
- 4 sorts of instant orders
- 38 technical objects
- 44 graphic objects
- Economic calendar
- Market depth
- Secure login
MT5 is accessible to download on Macintosh, Windows, and as a mobile application on Android and iOS.
Spreads on Naga are variable, and zero commission on most assets. Commonplace spreads on GBP/USD, for instance, are 1.8 pip with a comparable fee on indices. The solitary commission charges are on CFD stocks (0.20%) and ETFs (0.10%).
Naga charges a level fee of €0.50 on all trades that are replicated. Moreover, 5% is applied to trades with a benefit equivalent to or bigger than €5. This transparent fee structure makes it simple to track costs when duplicate trading.
Individuals can check their account leverage in the Trading Accounts area. In compliance with administrative necessities, leverage ranges from 1:1 to 1:30 for retail customers relying upon the instrument. In any case, proficient traders might get to rates of up to 1:200 by reaching client assistance.
Retail leverage limits by the asset are as per the following:
- Commodities (barring gold) – 1:10
- Major futures indices – 1:20
- Futures commodities – 1:10
- Major forex pairs – 1:30
- Minor forex pairs – 1:20
- Different futures – 1:10
- Major indices – 1:20
- Minor indices – 1:10
- Stocks – 1:5
- Crypto – 1:1
- Gold – 1:20
- ETFs – 1:5
Deposits and Withdrawals
Naga offers more than 20 deposit and withdrawal techniques. Nonetheless, the alternatives accessible will rely upon the nation you’re situated in. Techniques include:
- Bank Wire transfer (Instant)
- Credit/Debit card, for example, Visa, Mastercard, and Maestro (Instant)
- Cryptocurrencies, for example, Bitcoin, Naga Coin, or Ethereum (Instant)
- Alternative payment techniques, for example, Skrill, Giropay, and Neteller (Instant)
All techniques require a base deposit of $250 or the same. Greatest deposit necessities rely upon the country you live in.
Withdrawal demands are prepared around the same time or the next day if the solicitation is submitted out of working hours. While there are no deposit charges, Naga charges a standard withdrawal fee of $5 or the same, and the base withdrawal is $50.
Imminent customers can utilize a free demo trading account. The test account is made accessible, of course, once you join Naga and accompanies $10,000 in virtual cash. The test system permits you to get to know the Naga platform and interface while trying out your trading strategies risk-free.
Pros of Trading With Naga
- Crypto trading
- Free demo account
- Low copy trading expenses
- Educational resources
- Great customer support
- Leaderboard of traders to copy
- Exclusive web-based platform
- Naga platform on iOS and Android
Cons of Trading With Naga
- Withdrawal expenses
- Overnight charges
- $250 least deposit
- Only one default account advertised
You can contact customer support through a few channels recorded below. The group is accessible Monday to Friday from 9:00 to 20:00 EEST.
- Email – firstname.lastname@example.org
- Live chat – Found on the lower part of the website
- Telephone numbers – International +357 25 041410, UK +44 20 3318 4345
- HQ Address – Ariadnis 7, Moutagiaka, 4531 Limassol, Cyprus
Customer funds are held in separate accounts with directed EU banks. This guarantees that funds are isolated from organization capital and assists with guaranteeing they are not abused. The interface is likewise gotten with firewalls and encryption protocols. Moreover, all Naga accounts have the choice to add multi-factor verification at login for expanded security.
Naga has a great deal to bring to the table. Clients can copy exchanges from experienced investors across in excess of 950 assets. The social trading broker provides MT4 and MT5 in addition to its web-based terminal that accompanies an extensive rundown of features. Solid administrative oversight from the CySEC and FCA additionally adds to its trust rating. The lone significant drawback is the generally high least deposit.
How Would I Open An Account With Naga?
Opening an account with Naga is clear. Follow the connection below and select ‘Register’. You should fill in a short poll, confirm your character and give evidence of home. When your account has been checked, you can sign in and begin trading. The exchange likewise offers an Islamic trade-free account on demand.
Is Trading With Naga Safe?
Naga offers an undeniable degree of customer security. Trader’s funds are held in separate accounts with significant EU banks. Extra security features at the login stage likewise help to give a robust trading climate. However, internet trading is unsafe, particularly when putting resources into cryptos and leveraged CFDs. Likewise, there is no ensures that the systems you copy on the platform will create returns.
Is Naga Trading Genuine?
Naga Trading is an authentic broker that is directed by the Cyprus Securities and Exchange Commission (CySEC) under license number 204/13. The organization additionally holds a license with the FCA in the UK. Therefore, we’ve fulfilled the organization as a decent copy trading broker.
How Does Naga Trading Work?
Naga is a social trading network that unites clients to share data and investigate techniques. Customers can copy however many trading frameworks as they need and can see the best Naga traders through the leaderboard. Each time a client duplicates your exchange, you will get installment straightforwardly to your account. The copy trade administration is accessible on the Naga Web platform, as it were.
What Are The Trading Hours On Naga?
Clients can get to trading platforms all day, every day. Notwithstanding, market working hours will rely upon the particular asset. For instance, the forex market is accessible 24/5, while cryptocurrencies are open all day, every day. Note, spreads might extend during times of low liquidity.
Naga acknowledges traders from Australia, United Kingdom, South Africa, Singapore, Hong Kong, India, Thailand, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and most different countries.
Traders cannot utilize Naga from United States, Iran, Canada, Korea, Cuba, Syria, Iraq.
Alternatives to Naga
In case you are searching for alternatives to Naga, we have incorporated a rundown of the best 5 brokers that are like Naga below. This rundown of brokers like Naga is arranged by likeness and just incorporates organizations that acknowledge traders from your area.
OctaFX – OctaFX offers multi-asset trading on a scope of platforms and portable arrangements.
RoboForex – RoboForex is a multi-asset online broker contributing incredible trading aides.
FP Markets – FP Markets is a multi-asset broker contributing a decision of trading platforms.
Avatrade – Driving forex and CFD broker directed in Ireland, Australia, Canada, and South Africa. Avatrade are especially solid in incorporation, including MT4
FBS – FBS is a top online broker contributing MT4 and MT5 trading across a scope of instruments.