Naga Trader reviews – Is Naga Trader Scam?

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For both new and experienced traders, it can be difficult to find a trustworthy and reliable broker online for trading. There are so many trading platforms available online. How do you choose the right one?

NAGA was established in 2015 and is a regulated broker. Is NAGA a trusted broker, and is NAGA the right broker for you?

This article will discuss the pros and cons of NAGA. You will be able to determine if NAGA is the right platform for you trading experience.

Who is NAGA?

NAGA is a top range broker and is known as a leading social trading platform, similar to eToro.

Yasin Qureshi, Benjamin Bilski and others founded the company in 2015. Their mission is to simplify investing.

Trading and investing can be difficult, as you know. It’s why it’s refreshing when a company like NAGA is focused on making trading online easier.

NAGA aims to empower traders through providing them with fast and easy access worldwide markets.

NAGA’s impressive team provides the support and resources needed to all levels of traders. They must be doing something right, as NAGA has received over 1000 Trustpilot four-star reviews.

When choosing a trading platform, one of the most important criteria is to ensure that it is licensed. NAGA is licensed for this purpose. NAGA is licensed and regulated by The Financial Conduct Authority and the Cyprus Securities and Exchange Commission.

NAGA is a diverse platform offering over 950 trading instruments, including Forex, stocks, and CFDs (contract for differences). You can also trade ETFs and Cryptocurrency as well as Indices, Metals, Metals, and Energies.

NAGA currently has more than 100,000 registered traders and has completed over 10 million orders.

NAGA has more than 1000 traders who have registered for the autocopy service. An auto-copy service is a great way to get started in trading. It’s easy to understand what auto-copy means. You copy trades from experienced traders who share their trades.

You can trade from anywhere with NAGA as a customer. NAGA offers training resources and other tools that will help you trade effectively.

NAGA offers a supportive and large community for beginners to learn from more experienced traders. Trading can seem lonely. But with NAGA you can connect with other traders to share your trading knowledge.

You can use the messenger to send direct messages. Group chats and expert-led public channels are also possible.

Let me summarize. Before I get into the detailed review, here is what NAGA has to offer its traders.

  • Leading social investing platform and top broker
  • Trustpilot has over 1000 reviews of four-star quality
  • Register with The Financial Conduct Authority
  • Trade with over 950 instruments
  • More than 100,000 registered traders
  • 10 Million orders have been placed to date
  • Auto copy is available from over 1000 traders
  • Platforms that are user-friendly
  • Trading and education
  • A large and supportive community

This article outlines the most important aspects to consider when selecting a broker that you can trust.

How good is NAGA customer support?

NAGA offers multilingual support 24 hours a day, 5 days a week. Support can be reached via email, telephone, or live chat if desired.

It is clear that NAGA takes pride in their 100k+ user base with over 1000 Trustpilot reviews

NAGA allows me to create investment portfolios

You can manage your investment portfolio in three clicks. Diversifying your investments can be done based on your tolerance for risk. You can also choose a risk-to-reward ratio (RTR), to trade different asset classes.

You have the option of time-based investments.

It is possible to choose to invest in short-term or medium- to long-term. Your investments are managed by an independent algorithm that uses real-time asset re-allocation to maximize potential gains.

The NAGA integrated watchlist allows you to keep track of any potential investments. NAGA has an asset feed that displays real-time market news and details about assets.

NAGA Regulation

NAGA is the trading name of Naga Markets Ltd. This Cypriot Investment company is a member the NAGA Group AG. This Fintech company is publicly listed on Germany’s Frankfurt Stock Exchange.

Naga Markets Ltd has been authorized and regulated in Cyprus by the Cyprus Securities and Exchange Commission. The Licence Number. The Licence No.

CySEC oversees and controls investment service providers licensed by CySEC. This means that NAGA must adhere to CySEC regulations and follow their rules.

CySEC regulation ensures that NAGA clients trade with a reliable and trusted online broker.

CySEC must adhere to the European MiFID Financial Harmonisation Law. By default, NAGA also must follow the rules. The EU’s MiFID aims to increase efficiency and financial transparency. Its mission is to promote fair competition and protect consumers.

NAGA is registered and authorized with The Financial Conduct Authority (FCA), Ref No. 609499.

The EU is covered by the FCA. The FCA believes financial markets should be fair, honest, and efficient and that consumers get fair deals. The FCA oversees almost 60,000 EU businesses.

NAGA holds Client Funds where?

Client funds are kept in separate accounts at the top EU-regulated banks. These funds are not part of NAGA’s company funds and can only be used for operational expenses.

NAGA Markets is a memberICF (Investor Compensation Fund). In cases where a member cannot meet their financial obligations, the ICF may provide compensation to eligible clients.

NAGA Multicurrency Mastercard

NAGA offers aFree prepaid multicurrency Mastercard ($,EUR, PS).You can use this card to make online and offline transactions, as well as ATM withdrawals.

NAGA offers a user-friendly dashboard that allows you to manage your card. It also provides top-notch security.

What countries does NAGA accept for membership?

Some countries place restrictions on trading.

NAGA Broker can help you determine if your country is allowed.

Below is a list of countries that are prohibited from trading with NAGA.

  • Belgium
  • Canada
  • Cuba
  • Japan
  • Iran
  • Iraq
  • North Korea
  • Syria
  • USA

Some NAGA features and products may not be available in certain countries due to legal restrictions.

Are MetaTrader Platforms compatible with NAGA?

Yes, NAGA offers the MT4 and MT5 online trading platforms.

Both platforms are simple to use and offer a variety of technical indicators.

Other indicators and tools can be added.

If you have an expert advisor (EA), the MetaTrader platform can also be used to automate trading.

You can find the best MetaTrading tools and information from other traders within the NAGA community.

The MT4 and MT5 software can be downloaded and installed, or trades can be done from a web-based platform that requires no download.

You can also download the MT4 and MT5 apps to your Android or IOS devices, so you can monitor your trades from anywhere.

NAGA Auto Copy Trading

NAGA encourages transparency as part of its mission.

All registered traders can see every online NAGA profile. This profile includes information such as win rates, traded assets, performance and more.

You might be selected for the NAGA leaderboard if your trading performance is excellent. This page contains the top performing signals that you can copy.

Trades can be difficult for novice traders. New traders are at 95% risk of failure. Auto copy trades may make it easier to get started in trading.

Is there any leverage offered by NAGA for my trading account?

Yes, leverage can be variable between financial instruments.

NAGA is a responsible broker and must adhere to its licensing guidelines. NAGA wants its traders to be able to trade intelligently and to make sound decisions about leverage.

Below are the available leverage options for NAGA.

  • Forex – Major Currency Pairs (1:30)
  • Forex – Minor Currency Pairs 1:20
  • Cryptocurrencies – 1:1
  • Major Indices – 1:20
  • Minor Indices – 1:10
  • Stocks – 1 to 5
  • Commodities (except Gold) – 1:10
  • Gold – 1 to 20
  • Future Major Indices – 1:20
  • Future Major Commodities – 1:10
  • Future Others – 1:10
  • ETFs – 1 to 5

Avoid using leverage at all costs, especially if trading is your first venture into the world of trading.

Is there a Cryptocurrency wallet for NAGA?

Yes, NAGA offers a crypto wallet. It’s important to secure your cryptocurrency funds, as you might already know.

The NAGA wallet is completely free and allows you to easily secure your cryptos. The NAGA wallet includes an integrated exchange and gateway to NAGA’s social investing network.

You can instantly transact crypto with the NAGA wallet at low fees. You can also purchase crypto using your credit card and then transfer it to your NAGA trading accounts.

Is there a NAGA Trading Education?

NAGA offers educational materials to help you improve your trading. You can also register for daily webinars in several languages. These webinars provide a wealth of information for intermediate and new traders. They cover many important topics like support and resistance, trendlines and technical and fundamental analysis.

Which financial instruments can I trade with NAGA?

NAGA offers over 950 financial tools for trading.

With variable spreads, most major, minor and exotic Forex currency pairs can be traded on NAGA. Spreads of 1.2 pips on EUR/USD are an example.

Swap fees may apply to Forex (Overnight fees on open trades).

NAGA has a wide selection of cryptocurrency options, including top-ranked cryptos like Bitcoin. Litecoin and Ripple.

Crypto trading is free of commissions, but spreads can be variable. Swap fees are also applicable.

NAGA maintains over ten of most popular indices including the following:

  • France 40
  • Germany 30
  • Japan 225
  • Netherlands 25
  • US Tech 100
  • FTSE 100
  • More

The NAGA margin requirements for indices range from 5-10% depending on the Index. Spreads can be variable but there aren’t any commission fees.

There areMore than 600 stock CFDsGlobal companies. You can think of well-known companies like –

  • Facebook
  • Google
  • Amazon
  • Tesla
  • Microsoft
  • Apple
  • More

Most stocks have a margin requirement of 20%. Commission fees are 0.2% and there is also a spread fee and swap fee.

With NAGA, you can trade silver, gold, and oil. Margin requirements can vary, but they are generally between 5-10%. Spreads can be variable and swap fees may apply, but no commission fees.

NAGA offers around twenty-two Futures, such as

  • DAX30
  • Euro Stoxx
  • IBEX 35
  • Swiss20
  • More

Margin requirements can vary, but they are generally between 5-10%. Swap fees are charged, but there are no commissions for futures.

NAGA offers trades in approximately 17 ETFs, including the ones listed below.

  • Spdr DJIA ETF Trust
  • Ishares Msci Emerging Markets ETF
  • Ishares Msci EAFE Index ETF
  • Ishares Msci Pac X-JP ETF
  • Ishares MSCI Spain Capped eTF
  • ETF Ishares Taiwan Index
  • ETF Ishares South Korea Index
  • Ishares Brazil Index ETF
  • More

ETFs have a margin requirement of 20%. There is a commission fee of 0.10% and swap and spread fees.

NAGA offers an incredible variety of trading opportunities. There are over 950 financial instruments that can be traded, so there’s something for everyone.

Are Professional Traders able to use NAGA?

NAGA offers a Professional Trading Account that allows you to trade with up to 1:20 leverage.

NAGA has specific criteria that determine professional trader status.

  1. It is possible to show that you have averaged ten transactions per quarter in the past four quarters. These transactions may be made with NAGA, or another broker. NAGA can translate a large transaction into EUR10,000 for equities, EUR50,000 for Forex, indices or commodities (or the equivalent in other currencies).
  2. You can demonstrate a financial instrument portfolio. You can demonstrate a portfolio of financial instruments that includes cash deposits at least EUR500,000 or the equivalent in another currency.
  3. At least one year of experience in a financial industry professional position

You lose investment protection and compensation as a professional trader client of NAGA. You will need to admit that you are aware of the risks associated with trading without this protection.

How can I open an account with NAGA?

NAGA makes it easy to open an account.

First, you will need to fill out an online registration form. To ensure that NAGA can identify you, you will need to confirm your email address.

You can then log in to NAGA. NAGA will ask you to provide proof of identity documents in order to verify your identity. A passport, driving license, and utility bill that is less than three months old are acceptable.

After verifying your details, NAGA will approve you. Now you can fund your NAGA account to start trading with NAGA.

How can I deposit funds into my NAGA account

NAGA offers a variety of deposit options.

Multi-currency deposits can be made to your NAGA account by using one of these –

  • Credit or debit card
  • Wire transfer
  • Neteller
  • Skrill
  • GiroPay
  • Klama
  • Przelewy24
  • Crypto

You don’t have to pay any fees when you deposit funds into your NAGA account. There is a minimum deposit requirement of 30 USD EUR, GBP, or PLN for NAGA accounts.

This is a great deal for beginners traders, as most brokers require a minimum $500 deposit.

How can I withdraw from my NAGA account

You can withdraw money from NAGA using the same methods that you used to deposit. Details about withdrawal options can be found in your NAGA account.

Before you can request a withdrawal, please verify your chosen payment method.

What are the NAGA Withdrawal fees?

The minimum withdrawal limit is 50 USD EUR, GBP, or PLN. There is also a fee of 10 USD EUR or GBP for each transaction.

To offset the fee, it makes sense to withdraw larger amounts.

To withdraw crypto to your crypto account, the fee for sending it via email is 0.99%.

You may also be charged additional fees by your payment provider, such as currency exchange fees for converting the withdrawal to your payment provider.

If your request falls outside of normal working hours, withdrawal requests are usually processed within 24 hours.

Your payment provider will determine the withdrawal time. Bank transfers can take longer than other payment methods to clear.

What are the NAGA Commission Fees?

The fees charged by NAGA are very competitive.

The fixed fee for copying a trader is EUR0.50. You will be charged a 5% fee if your profit is greater than EUR0.5

The commission fee for Equities and ETFs is O.20% of the notional value. Other fees could include spreads or swap fees.

NAGA doesn’t charge inactivity fees.

Does NAGA Offer a Demo Account?

Yes. You get a $10,000 demo account when you sign up with NAGO.

Demo accounts are great for novice traders or newbies. They offer a risk-free and easy way to get familiar with trading practices and how NAGA works.

After you have gained confidence in trading, you can move to a NAGA live trading account. You can upgrade your NAGA account in less than 5 minutes.

You can open up to two live trading MT4 and two live trading MT5 sub-accounts from one NAGA account.

Multiple accounts allow you to try different strategies and see which one is best for you.

NAGA Review 2021: Are they a trusted broker?

NAGA has a lot to offer the trading community. There are currently more than 100,000 NAGA users who trade with NAGA.

NAGA is a top social trading platform that’s suitable for professional, novice and intermediate traders. NAGA has strict criteria to determine professional client status.

It is simple and quick to open an account at NAGA. After your documents have been verified, you are ready to trade with NAGA.

In less than five minutes, you can trade with a $10,000 demo account. Then you can upgrade to a NAGA live trading account in just five minutes. To practice different strategies, you can open sub-accounts from your NAGA account.

NAGA seems to be a good option for traders of all levels, as it allows them to trade more than 950 financial instruments and auto-copy over 1000 of their best traders.

Withdrawals are quick and easy, deposit limits are low and withdrawals are not difficult. NAGA offers many ways to deposit and withdraw.

Trustpilot rates NAGA customer service rates as four-stars with many satisfied clients. Multilingual customer service representatives are available via email, telephone, or live chat, seven days a week, and are available 24 hours a year.

NAGA is licensed and regulated in Cyprus by the Cyprus Securities and Exchange Commission and The Financial Conduct Authority. NAGA must adhere to strict financial regulations regarding clients so you can rest assured.

NAGA cannot use client funds to pay operational costs, so they are kept in separate EU banks.

You are the only one who can decide if you want to open an account at NAGA, a reliable and trusted broker. I hope you find this article helpful in your decision to trade with NAGA.

The information provided above is not intended to provide advice about tax, investment or financial services. The above information is provided without regard to risk tolerance or specific investor’s financial situation.

Some investors may not find trading or investing in financial instruments like stocks, futures, ETFs or commodities suitable. There is risk involved and there may be a loss of capital.

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