Naga Review
What Is Naga?
Naga is a social investing network that offers members access to more than one hundred different assets. One live account is available for all retail trading accounts with the company. Members who are copied in trades receive payment right away, and Naga Markets Ltd operates under Naga Group AG.
Pros Of Trading With Naga
- NAGA Pay
- Crypto trading
- Free demo account
- Low copy trading fees
- Educational resources
- Good customer support
- Leaderboard of traders to copy
- Proprietary web-based platform
- Naga platform on iOS and Android
Cons Of Trading With Naga
- Withdrawal fees
- Overnight charges
- $250 minimum deposit
- Only one default account offered
Top NAGA Features
Naga is a multi-device trading platform that offers charts, research and analysis on stocks, options and futures. Naga offers an easy to use trading platform with tools for both new traders and experts; they support over 15 languages.
- NAGA Autocopy. When you have NAGA Autocopy, trading doesn’t require constantly looking at multiple screens filled with charts. NAGA Autocopy allows users to find leading traders and automatically mirror their trading activity, so you get to benefit from the best of the best.
- Investing Powerhouse. Trade 1,000+ assets including the world’s most popular Cryptos, stocks and Forex pairs. Experience NAGA’s intuitive web trader interface or use their mobile app to trade on the go while keeping your wallet safe from huge fees with NAGA.
- Professional Offering. NAGA is a platform where you can make use of high-quality, accurate charts and tools to help with your trading. To help those who are new to this field get the necessary training, NAGA offers free webinars, eBooks and tutorial videos. With NAGA’s deposit or withdrawal methods including credit cards and wire transfers among others (withdrawal fee may apply), it has everything needed for traders at all levels!
- NAGA Popular Investor. “Popular Investor” is a program by this broker that allows anyone to share their trading strategies and portfolios to the global network of traders. You can get paid up output from its NAGA Popular Investors’ Fund, in which you are copied by other traders on the platform.
- Popular Investing App. There are over one million investors who use this trading platform, giving you the opportunity not only to trade, invest, and learn from others but also to be someone from whom other people can learn.
What you should know
Naga offers seven ways to trade: Forex, Cryptocurrency, Indices Trading, Stocks Trading and Commodities Trading. You can sign up for a demo account to aware yourself with the Naga platform and be able to work your way through different levels of trading experience or start at the beginning with no prior knowledge if that is what suits you best.
Can I Create Investment Portfolios with NAGA?
Yes, with just a few clicks you can manage your investment portfolio. You can diversify investments based on risk tolerance and choose the right ratio of risk to reward.
You may wish to look for short-term or medium-to-long term investments depending on what is best for you. An independent algorithm will then take care of managing them according to real-time reallocation of assets in order to get the best gains possible.
If you want more information about potential risks NAGA offers an integrated watchlist and asset feed displaying news, and details about assets and positions as they happen to live in real-time so that investing becomes stress-free!
Where does NAGA hold Client Funds?
Client funds are held in segregated accounts with the major banks that are regulated by the European Union. The funds do not belong to NAGA’s company and are only available for operational costs etc., meaning it would be inaccessible for other things like trading losses or theft of coins. In addition, NAGA Market is a member of ICF (the Investor Compensation Fund). If there was any case where an investor could not fulfil their obligations, then clients can receive compensation through ECF.
What Countries does NAGA accept?
Trading with NAGA is not available in the countries listed below. If you are unsure, please check if your country is on this list:
- Belgium
- Canada
- Cuba
- Japan
- Iran
- Iraq
- North Korea.
- Syria
- USA
Can I use MetaTrader Platforms with NAGA?
Yes, they provides the MT4 (MetaTrader4) and MT5 (MetaTrader5), online best forex trading platforms. Both platforms are easy to use and have a plethora of technical indicators that you can add or subtract from your strategy.
You can also get free access to this data in their community so that you do not need any software installed on your computer when making trades. The MetaTrader platform is perfect for automated trading if you install an expert advisor onto it- which was, of course, created by other traders like yourself!
You have nothing to worry about as they provide both desktop and mobile apps for Android or IOS devices- so with one click, you will be able to check all day long how well your trades went at any time!
NAGA Auto Copy Trading
NAGA promotes transparency. Every online profile is visible to all other registered traders and includes a detailed profile that shares win rates, assets traded and performance information in addition to more details about the trader.
If your trading performances are good, you can make it onto the leader board where you will find people’s most successful trading signals for anyone who wants to copy them. Trading as a novice is challenging with a 95% failure rate for new traders- what this means is that auto copied trades might provide easier access to the experience of risk management through markets than if one were starting from scratch on their own.
Does NAGA Offer Leverage on My Trading Account?
Yes, leverage in forex is variable for different types of financial instruments. NAGA is a responsible broker that must follow its licensing guidelines and has rules in place to ensure sensible trading with regard to leverage. NAGA wants traders who use their services to make good decisions about the amount of leverage they are using.
NAGA’s leverage options are-
- Forex – Major Currency Pairs – 1:30
- Forex – Minor Currency Pairs – 1:20
- Cryptocurrencies -1:1
- Major Indices- 1:20
- Minor indices-1:10,
- stocks– 1.5, commodities(excluding gold)– 10,
- Gold- 20 and future major indices and others at 10.
When trading, make sure to use leverage sparingly. In other words, if you are new to trading and have never used it before, do not overuse it.
Does NAGA have a Cryptocurrency Wallet?
NAGA provides a free crypto wallet that can store your cryptocurrency securely. You may know how important it is to secure your cryptos, and NAGA’s wallet has all the features for you to do so. The Naga Wallet includes a built-in exchange with access to social investing network, which allows you to invest in various cryptocurrencies with ease.
What makes this process even better is that transactions are instantaneous and fees are low! Additionally, the Naga Wallet allows people who use credit cards or another form of payment from their bank accounts on Coinbase or Bitfinex an easy way to purchase Bitcoin (BTC) without having them trade their FIAT currencies for BTC first; then they would have to transfer those funds over into their own wallets.
Does NAGA have Trading Education?
They provide educational materials that can help to improve your trading. They also hold daily webinars in multiple languages, and these are a great source of education for the new and intermediate traders, covering many essential topics such as support and resistance, trendlines, technical analysis etc.
What Financial Instruments can I Trade with NAGA?
NAGA offers over 950 financial instruments to trade, including the major Forex currency pairs. You can also trade on various cryptocurrencies. There are no commissions on cryptocurrency trading with variable spreads in forex, but swap charges may apply depending on what you’re doing and for how long your trades last.
NAGA has different methods for depositing funds, and you can deposit multi-currencies into your NAGA account with one of the following.
- France 40
- Germany 30
- Japan 225
- Netherlands 25
- US Tech 100
- FTSE 100
- and more
There are over 600 global CFDs to trade, including ones from well-known companies like –
- Amazon
- Tesla
- Microsoft
- Apple
- and more
Is NAGA Suitable for Professional Traders?
NAGA does have criteria for professional trader status –
- You can demonstrate your transactions with NAGA or another broker have been significant in size, averaging about 10 per quarter for the last four quarters. A significant transaction is translated as €10,000 on equities and €50,000 on Forex (or currency equivalent).
- You can manage your financial instrument portfolio with the following instruments:
- They accept cash deposits of €500,000 (or currency equivalent).
How do I Open an Account with NAGA?
NAGA is an easy way to buy and sell cryptographic tokens. The first step of the registration process with NAGA is completing a short online form; you will have to confirm your email address so that they know it’s really you.
Next, upload any documents for KYC purposes (personal information) like driving licenses or utility bills less than 3 months old. Naga then verifies your details and gives you access! You can now fund your account, trade with NAGA, and more!
How do I transfer funds into my NAGA account?
NAGA has different methods for depositing funds, and you can deposit multi-currencies into your NAGA account with one of the following.
- Credit or Debit card
- Wire transfer
- Neteller
- Skrill
- GiroPay
- Klama
- Przelewy24
- Crypto
You can make a NAGA deposit without any fees. The minimum requirement is only $30 USD, €, or £. For novice traders who are considering starting out trading at other brokers which require a $500 minimum deposit fee, this low start-up makes it much more attractive and affordable to get started with the trade of their choice!
What is the process for depositing funds into my NAGA account?
You can use the same methods as for depositing to withdraw money from NAGA. Detailed withdrawal methods are available in your account.
Please note that your chosen payment method must be verified before you request a withdrawal.
What are NAGA Withdrawal Fees?
The minimum withdrawal limit is 50 EU, GBP or PLN.
- Withdrawing crypto incurs a $10 fee and withdrawing to your email address costs $5.99% of the amount withdrawn in crypto.
- There are other fees from your financial provider stemming from currency exchanges; these will depend on local regulations and vary depending on how much money is being transferred out of the country, which type of account it’s coming into, etc.
- Bank withdrawals may take longer than noncash transactions to clear as well because it requires more paperwork to process them thoroughly before they can be deposited in one’s account generally.
Conclusion
Overall, we see Naga Review as a broker with strong technology and innovation in trade. There are lots of opportunities for beginners or professionals to invest either through social trading or progressive trading options that come with good costs and conditions. In addition to its regulatory responsibility, Naga seems like a great brokerage partner for us – something you can rely on when it comes to your investment journey too!
