Powered by social trading, NAGA is a Fintech firm offering CFDs, ETFs, cryptocurrencies, real stocks, and forex. NAGA users are given access to over 500 instruments featuring its all-in-one trading account.
See more unique features and opportunities trading with NAGA by reading this forex broker review.
NAGA Background & Safety
NAGA is a Fintech firm that was established in 2015. It was founded with an aim to revolutionize the world through decentralizing financial technology and provide access to the best market tools for everyone across the globe. It enables its users to trade and invest in financial markets, cryptocurrencies, and virtual goods.
In its five years of existence, it has produced over 500,000 accounts coupled with top trading tools and constant additional product features. In 2016, it was able to secure major funding in Hauck & Aufhauser, a major bank in Germany. It also launched its copy trading functionality in the same year.
In December 2017, NAGA became part of the TOP 50 ICOs (Initial Coin Offering) of all time, with the NAGA coin raising over $50 million. In 2018, NAGA’s Founder and CEO Benjamin Bilski was added to the Forbes 30 under 30: Technology list, proving the firm’s success.
The NAGA Group AG, a German-based firm owns the NAGA site and is operated by NAGA Global Ltd. The firm is incorporated under the laws of St. Vincent and the Grenadines as an International Business Company.
The NAGA Group subsidiaries are comprised of NAGA Global (SV) Ltd, NAGA Global (CY), NAGA Markets Ltd, and NAGA Technology GmbH. NAGA Markets Ltd. is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) and is listed on the Frankfurt Stock Exchange.
NAGA Features & Fees
Market Offerings
NAGA enables traders to access an array of financial markets including forex, real stocks, indices, CFDs on stocks, cryptocurrencies, commodities, ETFs, and futures. Over 750 financial instruments are accessible on the NAGA trading site.
Account Types
NAGA offers six types of accounts to its clients: Iron Trader, Bronze Trader, Silver Trader, Gold Trader, Diamond Trader, and Crystal Trader.
The Iron Trader has the lowest deposit requirement amounting to $250 that provides standard spreads, 0.1 margin booster, and leverage of up to 1:1000. The Bronze Trader requires a $2,500 minimum initial deposit which also covers the same spreads and leverage plus daily trading signals and a 0.2 margin booster.
The Silver Trader $5,000 as a minimum first deposit that features the same conditions with the Bronze Trader with some additional perks such as access to webinars and a 0.25 margin booster. The Gold Trader is on another level as it asks for a hefty $25,000 initial deposit and covers all the features of the Silver Trader account and some additional conditions such as daily instant withdrawal and a 0.5 margin booster.
The Diamond Trader has a $50,000 initial deposit and provides a 0.75 margin booster, Platinum spreads, and all the other features of the Gold Trader account. Lastly, the Crystal Trader account holds the highest initial deposit requirement costing $100,000. This trading account type gives a 1.0 margin booster, VIP spreads, and all the features of the Diamond Trader account.
Funding Methods
NAGA offers more than 20 funding options to its clients depending on their residency. Credit and debit card options include Visa, Mastercard, and Maestro. For wire transfer, the options are Donner & Reuschel, Eurobank, Guaranty Trust Bank, and many more. Alternative payment options include Sofort, Neteller, Skrill, Giropay, etc. the broker also accepts cryptocurrencies like Bitcoin, Ethereum, Bitcoin Cash, NAGA coin, Litecoin, and Dash.
NAGA Trading Platforms & Tools
NAGA parades several trading platforms for traders to choose from. It offers the MetaTrader platforms in MT4 and MT5 and its proprietary platform in several versions.
Trading with NAGA on MT4 gives traders a customizable interface, 30 technical indicators to use, 31 graphing objects, 4 pending order types, and 3 order execution types. Copy trading feature is also part of this platform offering to allow other users to copy your trading activity.
The MT5 trading platform NAGA offers is armed with 38 technical objects, 44 graphing objects, 6 pending order types, and 4 order execution types. Real shares can be traded using this platform to allow users to attain ownership of companies that give them dividends as benefits.
NAGA Web App is a version of NAGA’s proprietary trading platform that enables traders to trade on-site without downloading and installing programs. It has real-time order execution, free daily news and trading signals, multi-currency accounts, a personal account manager, and almost all the other features found on different standard trading platforms.
Mobile Trading
NAGA’s trading platform has two mobile versions in the NAGA iOS App and NAGA Android App. These versions feature price alerts, NAGA radar (to find NAGA users near you and connect with them), and Auto Copy functionality to copy trades.
Bottom Line
Being a Fintech firm, NAGA has strong trading technology and infrastructure. Its innovative approach to the trading brokerage industry will provide good opportunities for both beginners and experienced traders.
