NAGA Markets Review

August 2022

84.69% of retail Investor accounts lose money when trading CFDs with this provider.

NAGA Trading was founded in 2015, and is publicly listed on the Frankfurt Stock Exchange. They have grown rapidly and already handle over 1 million trading accounts across the globe. The broker offers markets in the following asset classes, forex, commodities, stocks, indices and ETFs. Altogether they offer trading in over 950 different securities.

Pros

  • Progressive Social Trading environment
  • NAGA payments and credit card
  • Access to copy trading
  • Personal account manager

Cons

  • Higher than average spreads

Is Trading with NAGA Safe?

NAGA Group AG is a German based FinTech corporation and is regulated by the following authorities:

  1. Cyprus Securities and Exchange Commission (CySEC) – the regulatory body for Cyprus
  2. Financial Conduct Authority (FCA) – the regulatory body for the UK – temporary permissions regime awaiting full authorization


NAGA Trading is regulated by top-tier authorities that guarantee the highest levels of transparency, financial accountability and trust.

Spreads & Fees

NAGA Trading doesn’t charge commissions on forex trading, like most brokers in the industry they make their money from the bid offer spread.

The table below shows the minimum spreads for each of the major forex pairs as listed on the NAGA website and compares them against the industry average.

Naga Markets Spreads

Note: Spreads are variable and can change depending on the time of day and market conditions. For information purposes only.

NAGA Trading spreads are slightly higher than the industry average. The extra bid offer spread might be justified if you are going to use the extra services offered by the broker. The copy trading service can be of interest to some, and the use of a mobile payments app and credit card, which you can also use at an ATM.

You can benefit from tighter bid offer spreads if you make a high enough initial deposit to upgrade to one of their VIP accounts.

Platforms

NAGA Trading offers its proprietary trading platform, NAGA Trader, and MetaTrader’s MT4 and MT5 platforms. For copy trading, you will have to use their proprietary platform, which also has a messenger for communication among its community of traders and followers.

A feature, which is definitely a plus, is Trading Central for technical analysis and trade signals. Trading Central mixes automated pattern recognition and technical analysis with human technical and fundamental analysis to create timely trade ideas. The quantity of trade signals depends on the level of your account.

The NAGA Trader platform has an intuitive design with all the charting features you might need for technical analysis. The charts, technical indicators and drawing tools are supplied by TradingView. The online chart provider has a state of the art product with an extensive list of tools.

Another feature of the proprietary platform is the Feed. Under this tab, you will find news feeds from financial outlets such as Reuters. It's also the place to see other traders' ideas and get involved in the trading community on NAGA.

Naga Markets Platforms

Mobile Trading

MT4 & MT5 have their mobile platforms for Android and iOS, and NAGA has also developed its proprietary mobile app with all the features of the web based version.

Benefits of the NAGA Trader mobile app include:

  • Manage your copy trading on the go
  • Receive alerts on your phone
  • Trade and manage positions
  • On-chart trading

The NAGA mobile app is available in both the App Store and Google Play.

Naga Markets Mobile

Education

The NAGA Trader platform has an extensive library of educational videos and a solid list of e-books. You have to contact your account manager to get access to them. The broker also offers Webinars for beginners in several languages, most of which are between 30 and 60 minutes. If you prefer short reads there's a list of articles with various topics for new traders.

The videos are professionally made and last a few minutes at the most. The proprietary platform also comes with built-in tutorials to show you around and help get the most out of its features quickly.

Trading topics covered in the e-books and videos include:

  • The 3 principles of technical analysis
  • What are support and resistance?
  • Bars vs. candlesticks vs. lines
  • Platforms and products
  • How to manage risk
  • 50 Trading tips and tricks
  • New to forex
  • Japanese candlesticks
  • MetaTrader 5 boot camp

NAGA Trading is one of the few brokers out there to offer webinars in languages other than English. The material is well presented and easy to understand. You can also open a Demo account to get a feeling of the NAGA Trader app. However, you will need to activate a live account, minimum deposit $30, to experience all the features.

Research

NAGA Trading does not have an in-house research team. The broker relies on the trader community and the live feeds on its platform for news and market insight. However, the combination of market insight from Trading Central, Reuters market news and market comments from the community make up for the lack of specific content from NAGA.

Trader Support

Customer support is offered in a variety of languages, including the major European languages as well as Chinese, Arabic and Indonesian. Customer support is available 24/5 through the following channels:

  • Live chat
  • Telephone call-back
  • Email

Verdict

NAGA Trading offers a very complete product, including copy trading through its proprietary platform, and automated trading through the MetaTrader platforms. The package is completed further with the add-on of the Trading Central app, NAGA payments and credit card.

Trading central is becoming more popular across the FX broker industry and is an extremely useful tool for retail traders. Also, having access to the cash in your trading account to make payments or purchases without having to wait for the money transfer first is also a big plus.

The broker is a solid company with a very large client base. It is quoted on the Frankfurt Stock Exchange and is backed by a multi-billion Fund, FOSUN. Altogether this broker has an appealing product with a wide range of services that can appeal to the seasoned trader and newcomer alike.

84.69% of retail investor accounts lose money when trading CFDs with this provider.