NAGA review

By   |   Verified by Kwok Zhong Li   |   Updated 2nd December 2021

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  • NAGA is a European fintech enabling trading in markets around the world.
  • Trade in over 950 assets including CFD trading services in a wide range of stocks, forex markets, and even crypto.
  • Mimic the strategies of seasoned traders through copy trading.

NAGA is a European fintech offering CFD trading services in a wide range of stocks, forex markets, and even crypto. The company provides competitive fee structures with excellent leverage options and availability in many countries.

Founded in 2015 by Benjamin Bilski and Yasin Qureshi, NAGA has the mission of empowering small retail traders to take control of their investment strategy.

The company offers market access, trading platforms, and educational resources to help beginner traders survive and thrive in the competitive global financial markets.

Interested to know more about what it offers and how it compares against other trading platforms? Scroll down to find out.

Who is NAGA suitable for?

NAGA is the ideal brokerage for the first-time trader. The company gives you all the tools and knowledge you need to learn and start trading. If you're at the beginning of your trading journey, you can read through the resource library to understand trading strategy basics.

Apply that knowledge with your demo account, where you get a 2500 EUR virtual balance to play around with before you put money at risk. With NAGA, you have some of the lowest deposit minimums in the industry, allowing you to start a small account and grow it fast.

Tradable assets

NAGA has a huge range of tradable assets. From stocks and ETFs to commodities and forex, NAGA offers over 950 tradable assets on its platform. NAGA even offers tradable pairs in the crypto markets in selected top-performing cryptocurrencies.

Index trading is also available through NAGA, with investment options in the France 40, Germany 30, Japan 225 markets, and many more.

Useful features for trading

Charts

NAGA issues traders with its in-house trading platform. You get functional charts and a user-friendly trading dashboard. However, more advanced traders can trade with MT4/5.

Fractional shares

NAGA offers you fractional share trading. If you want to buy a single share of a stock like Tesla, Amazon, Netflix, or GameStop, it may cost you more than you have available in your account. However, with NAGA, you get the chance to invest in a fraction of a share. As a result, you get exposure to the price movement in the stock you want, at a risk level you can afford.

Renting shares for passive income

If you have shares you're holding for the long-term, NAGA will pay you interest to rent your shares and sell them to traders. You can earn passive income while your position grows in value.

Margin

NAGA offers you margin trading on your account. You get leverage options of up to 30:1 on some tradable assets. Using leverage allows you to supercharge the buying power of your small account. With a single trade, you could end up with a massive return.

Trading fees

NAGA offers copy trading for a fixed fee of 0.50 EUR per trade (about 0.77 Singaporean Dollars), and 5% commission on any profit you make. The company doesn't share in any losses sustained through the copy trader program.

For trading equities and ETFs, NAGA charges a 0.1% commission on each trade and 0.2% on CFDs. That's competitive when compared to other fintechs offering similar CFD trading platforms. NAGA also doesn't charge traders any monthly account fees or inactivity fees.

However, the company has a minimum withdrawal limit of US$50 and charges relatively high withdrawal fees.

Who are the traders you can copy?

If you're new to trading, then you can "fake-it-till-you-make-it" with copy trading at NAGA. The top 5% of traders on the platform can choose if they want to let other traders trade their strategy. NAGA currently has more than 1,000 of its clients registered to the copy trader service.

While you're trading alongside real traders that are consistently profitable, that doesn't guarantee you a positive return. Even the most experienced traders make mistakes from time to time. Also, the trader might not be trading the same strategy for a small account. They might be fine with sustaining a huge loss, while that might blow up your account.

Pros and cons

Pros

  • Low fees, no inactivity fees, and low commissions.
  • Social trading allows you to copy previously successful traders, though results are not guaranteed
  • Compatible with Meta Trader platforms.
  • Low minimum deposit.
  • Popular Investor program allows traders to make money by sharing their trading strategy and portfolio to a global network of traders
  • User-friendly trading platform.
  • Over 950 financial instruments to trade.
  • Leverage available on most assets.
  • Mobile trading interface.

Cons

  • You're trading CFDs, so understand the rules surrounding leverage.
  • CFD trading can lead to losses greater than your starting account balance.
  • High spreads make it challenging to make profitable trades on some CFD products.

FAQs

Is there a demo account to try out before signing up?

Yes, NAGA offers you access to "paper trading" to try out your trading strategy. All demo accounts come with a starting balance of 2,500 EUR.

How old do you need to be to sign up for NAGA?

NAGA users need to be at least 18-years old to use the company's products and services.

What is the minimum deposit required?

The minimum deposit at NAGA is equal to US$250. You can transfer any amount you like using the payment method of your choice. Start a small account and grow it with leverage fast.

Does NAGA have real-time stock pricing quotes?

Yes, NAGA comes with real-time pricing on quotes included with your trading platform and asset feed. Keep a watchlist of potential investments and all positions at a glance.

How do I deposit funds into my account?

You can make your deposit directly through your NAGA dashboard. The firm accepts credit and debit card deposits and wire transfers and even cryptocurrencies and e-wallets like Neteller, Skrill, GiroPay, Klama, and Przelewy24. Users will have to ensure they verify their identity before they make a withdrawal from the platform.

How long does it take to withdraw funds from NAGA?

For the fastest results, you'll need to use debit or credit cards to process the transaction. If you verify your identity beforehand, your withdrawal will either be the same day or processed within 24-hours from your request.

Alternatives

NAGA has plenty of competitors in the CFD and social trading space. The company faces pressure from the following market competitors.

  • eToro. As the closest competitor to NAGA, eToro offers trading in stocks and crypto as well as CFDs. They are the best-known copy trading platform, have a low cost fee structure, and offer margin trading. Unlike NAGA, eToro accepts US traders.
  • ZuluTrade. This broker offers trading in stocks, commodities, indices, and crypto. In addition to copy trading, ZuluTrade offers autopilot trading which lets a certified portfolio management team choose your assets. Like most brokers, they have low trading commission fees.
  • Tornado. Formerly known as NVSTR, Tornado offers trading in stocks and ETFs. It also competes with other brokers offering zero commissions on trades in stocks and ETFs.

Verdict

Whether you’re new to the markets or an experienced trader, NAGA is a solid, low-commission online trading platform. Offering copy trading, new traders can benefit from the insights and experience of seasoned traders while experienced traders can make up to $100,000 monthly from NAGA’s Popular Investors’ Fund when being copied by other traders on NAGA. Offering over 950 tradable assets, margin trading, and web or app access, NAGA is a good fit for traders of all levels of experience.