What is NAGA?NAGA is a multi-asset financial platform that has grown to offer retail investors Forex trading, Cryptocurrency trading, Indices trading, Stocks trading, Commodities trading, ETFs trading, CFD trading, and more. With its head office in Cyprus, NAGA’s jurisdiction is only limited to Europe and the economic regions of Europe. The platform has not yet gone global. The platform is available to users on iOS, Android, Mac as well as PC. the registration process of the forex broker is quite simple and time-saving. NAGA also allows new traders to start with a virtual portfolio i.e. a demo account to understand the basics of trading as well as the platform. Further, in this NAGA reviews, we have covered a detailed procedure on how to open a trading account with NAGA. Also read: NAGA Review 2022 (Update)
Who can trade with NAGA?NAGA is a great choice for both beginners and experienced traders. The auto copy features and the user-friendly platform makes it the best forex broker for beginners. And on the other hand access to the trading platforms like MT4 and MT5 provides advanced tools, which are of great help to experienced traders. A lot of brokers do not provide much to demo accounts or new traders, but NAGA has a good reputation for encouraging new traders and providing them with quality educational content.
What are the features of NAGA?In this NAGA review, we have listed some of the best features the platform offers. Take a look:
- The platform is accessible on all devices i.e it supports Apple as well as Android devices and can be operated either through the mobile app or desktop version.
- It is a multi-asset platform that provides a wide range of financial instruments to trade from.
- The platform is available in 15 different languages for all users.
- Naga offers Research-backed analysis on financial markets and investments from top analysts
- It has innovative tools, including advanced charting and technical indicators and graphs.
- NAGA offers a demo account to all users.
Pros and Cons of NAGA
|What we like about the platform||What we do not like about the platform|
|Has a strong social network||Charges Inactivity Fees|
|Offers Autocopy for demo accounts||US clients not allowed|
|A heavily regulated and safe platform|
|Provides access to MT4 and MT5|
NAGA Reviews: Regulation and LicenseBefore we review, whether or not NAGA is regulated let us understand the importance of regulation. Also read: How secure is the NAGA trading platform? Regulatory bodies keep a check on the brokers and if they feel something is suspicious they take necessary actions to protect the money and details of the traders. Before trading online with a broker you should be sure if they’re a legitimate broker. Naga is a regulated and governed forex broker. It is secured by reputable financial regulatory bodies and therefore the broker is completely safe and legit. The headquarters of NAGA lies in Cyprus and it is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license No. 204/13. It is also governed by the Financial Conduct Authority (FCA)- the body that regulates all brokers listed to buy and sell securities. Take a look at some of the authorities that look after NAGA:
- Cyprus Securities and Exchange Commission (CySEC) under license No- 204/13
- Financial Conduct Authority (FCA); Licence no- 609499
- The Federal Financial Supervisory Authority (BaFin); Licence no – 135203
- Commissione Nazionale per le Società e la Borsa (Consob) registration no- 3844
- Comisión Nacional del Mercado de Valores (CNMV) registration no- 3591
Is NAGA safe?In the above-mentioned, NAGA review on regulation, we have listed all the authorities that secure the trading platform. Therefore, it is safe to say that NAGA is a safe forex trading platform. Furthermore, any payments funded to Naga accounts by traders are held in a segregated bank account. For added security, Naga uses tier-1 banks for this. Tier 1 is the official measure of a bank’s financial health and strength.
Is NAGA global?NAGA has its jurisdiction only in Europe. The trading platform accepts clients from more than 40 countries all across Europe. It offers services to residents within the European Economic Area and Switzerland, excluding Belgium. The US does not come under the jurisdiction of the platform. This means that clients from the U.S are not accepted by NAGA. Traders trading in Europe are taken to the NAGA Markets Europe platform, while traders from Australia, New Zealand, India, or Canada get access to the NAGA global platform.
What assets can you trade with NAGA?NAGA serves as one of the best forex broker for beginners as it is a multi-asset platform. It allows traders to place trades on various financial instruments. The platform offers over 1000 assets to trade from including cryptocurrency, stocks, CFDs, EFTs, Indices, commodities, Mutual Funds, and more. This NAGA reviews provide a detailed guide of the choices the platform offers to trade from
- CFD – the platform offers almost 600 stocks CFDs, globally across all markets.
- Forex – 47 trading pairs, including all the popular currency pairs like EUR/USD, GBP/USD, JPY/USD, and EUR/AUD.
- Commodities – silver, gold, oil, and metals.
- Futures – There are currently 22 futures, including IBEX 35, Swiss20, and EuroStoxx.
- Indices – available indices include the FTSE100, France 40, Germany 35, and US Tech 100
NAGA Review on Fees and deposit amountThe fees charged by Naga depends on the trade amount, frequency of trade and the method of payment used for withdrawal and deposit. The minimum deposit fee charged the platform is $250 for the basic account. Read below to know more about the cost and fees charged by the trading platform: 1. DEPOSIT AMOUNT To open a trading account with any forex broker traders need to pay a minimum deposit fee, depending on the type of account they wish to open. To open a account with NAGA traders are required to pay a minimum of 250 GBP/USD/EUR when as deposit. The amount may change or vary depending on the level and type of account you have opened.
- If you want to open an Iron account the deposit amount is $250.
- If you wish to open a Bronze level account you will have to pay a deposit of $2500.
- Traders opening a Silver account are entitled to pay $5000 as deposit amount.
- If you want to open a Gold level account then you have to deposit $25000
- Traders who wish to open a Diamond level account will have to pay a deposit of $50000.
- And lastly, crystal account holders have to pay a deposit of $100000.
Trading NAGA through web platforms – MT4 and MT5The MT4 and MT5 platforms are available on NAGA. The platform allows access to traders to benefit from the advanced tools available on the platforms. The chartings, technical indicators, and graphs make the trading process easy for traders. You can start using the MetaTrader 4 platform with Naga in multiple formats including through an online web platform. You can access MT4 through android and iOS devices. a downloadable application for. The Naga MetaTrader 4 is compatible with the latest windows PC and Apple Macintosh computers.
The MT4 and MT5 on NAGA use the following Indicators
- Analyst Perspectives – it provides tools for leadership and key levels.
- Adaptive Candlesticks – Identifies chart patterns which illustrate important changes in demand and supply.
- Adaptive Divergence Convergence (ADC) – it is useful at shorter lengths and provides more timely signs.
Naga Metatrader Mobile Application FeaturesThe MT4 and MT5 platforms can also be accessed using the NAGA mobile application; take a look at all the features that are included in the application:
- In-depth price charts of financial instruments
- MetaTrader internal messaging
- Option to view trading history
- Market news and analysis
- Timeframe for graphs and charts
- Additional vertical scaling of graphs
- Access the OTP generator through FaceID or fingerprint
How can I start trading with NAGA?Registering with NAGA is a very simple process. Follow the steps given below to start trading with NAGA today
- Visit the website of NAGA, and navigate to the sign-up button.
- Then complete the account registration form with your details. You will be required to fill in your full name, username, email, password, phone number, and country of residence.
- Review your application and submit it. The next step is to verify your account. You will receive a verification link, click on the link and the account would be ready for use.
- If you are using a demo account you can upgrade to a live account whenever you want.