Naga Markets Review 2024 Information about Naga Markets Forex Broker

NAGA Europe is fully supervised and regulated by the Cyprus Securities and Exchange Commission (CySEC). Concerning ETF trading, we find it hard to know if we are trading CFDs on ETFs or actual ETFs (real ownership). Our resources, including webinars, daily news, and top-tier educators, are among the best in the industry. Ideation, open discussion, and collaboration are the greatest keys to investing so we’ve developed a finance platform with a strong social network & community at its core.

One significant advantage I’ve observed is the rigorous approach to client fund security. NAGA ensures that clients’ funds are held in segregated accounts, distinctly separate from the broker’s capital. This practice is crucial for safeguarding traders’ money, offering an added layer of financial safety and peace of mind during trading activities. In our forthcoming review, we delve into the intricacies of NAGA, highlighting what sets it apart from the competition. We cover essential aspects such as account options, deposit and withdrawal processes, https://traderoom.info/naga-broker-overview/ and commission structures.

How are Execution, leverage and position sizing with NAGA?

  • You can choose from European, Japanese and US indices, so there is a wide range of the most liquid markets.
  • MT4 on Naga offers traders comprehensive features and tools to enhance their trading performance.
  • While the trader will still seem “profitable” the investor on the other hand can be at a massive loss.

Both variants are very much hands-on and trading-focused, with an extensive array of tools and charts. Unlike the standard 4th decimal place rule, NAGA rounds up their pips up or down to the 5th decimal to secure a better price for clients from NAGA’s liquidity providers. Please note that NAGA does not provide services to the USA, Japan, Canada, Belgium, Cuba, Iran, Iraq, Syria, North Korea, and others (see the footer of NAGA’s website).

NAGA Customer Services

On the downside, their ETF offering is not crystal clear (real ETFs are mixed with CFDs on ETFs), and they have stopped offering commission-free real stock trading (see “Fees” section). Pretty decent registration process, execution is amongst the best, pretty good number of assets, good support, good tools. Nothing extremely powerful or something I haven’t seen before, but for sure, pretty good broker to have an account with. Despite the fact that this is a solid company with great experience and authority, any trader can open an account here. Company has no high requirements and I was able to open an account with a small initial deposit. NAGA accepts all the common methods for deposits and withdrawals, including bank transfers, major payment cards, and e-wallet services Skrill, Neteller, Giropay and even major Crypto coins.

Finally, the broker offers 24/5 customer service in multiple languages via local phone numbers in 22 countries around Europe. In addition, traders are welcome to call the dealing desk directly for issues relating to trades and order placement – something we know many traders appreciate. In addition to having a wide range of assets with which to trade, NAGA has an extensive copy-trading program, which allows investors to really connect with one another. This broker is excellent for anyone looking to add a social networking aspect to their trading career. Being a broker that wants to cater to real stock traders and copy traders we definitely believe that their stock offering should be higher. Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

What types of accounts does NAGA offer?

NAGA’s MetaTrader 4 platform supports CFD trading across all markets offered by the broker, as well as MT4 copy trading and mobile devices support. Furthermore, NAGA broker keeps all of its clients’ funds on segregated accounts, as well as per regulatory requirements. NAGA also supports Negative Balance Protection for all traders registered on the broker’s platforms. However, since the broker is not authorized in every region worldwide, the traders from the USA, Canada, Israel, and the Islamic Republic of Iran cannot access the brokerage services offered by NAGA. However, suppose you prefer to get your hands dirty and fly under the radar. In that case, you can trade as usual on NAGA’s other platforms, MetaTrader 4 and 5 for desktop and mobile, and web.

Their offering seems as if it was crafted for an audience that expects simplicity yet their product is quite complicated and filled with excessive choices to make at every turn. Overall, NAGA’s mobile platform is well crafted and thought with simplicity for new traders. The first area a user gets to see when successfully logging in is the TRADE section.

Fees

However, outside of that, there could be a conversion fee applied if your base currency doesn’t match the currency you make the deposit with. There are a number of account types to go for depending on your trading style and level of experience and participation in the market. Despite being such a young company, relatively speaking, it’s reassuring to know that it has already achieved one award in its inception back in 2016. This was the “Finovate Best of Show” in London, for being one of the first brokers to offer Social and Copy-trading services.

It just applies the European Central Rate (ECB) exchange rate (no fee on top). Their revenues come mainly from spreads, commissions, copy fees, interest on margin lending (when you leverage a position), and other fees. Whenever I have a question or an issue, they are quick to respond and always helpful. In addition to the support benefits, NAGA offers a range of trading tools that have helped me immensely in my trading. The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices.

As a result, they may be subject to higher levels of market volatility and carry a higher degree of risk. Trading CFD trades on the Naga platform can provide more flexibility than traditional market trades, allowing access to CFD fractional shares, international markets, and short selling. They are commonly used for short to medium-term trades, such as intraday CFD trading, but are high-risk due to their separation from the financial markets. CFD trading on Naga allows traders to speculate on the price movements of various financial instruments against the broker Naga, without actually owning real assets. With CFDs, Naga traders can profit from upward and downward price movements by going long (buying) or short (selling) on an asset.

With NAGA, you can access 15+ most actively traded futures, such as FTSE 100, NIKKEI 225, DOW 30, etc. Since being set up in 2015, NAGA has made rapid and giant leaps forward in disrupting and redefining the financial markets. It is committed to making online trading more open and accessible to all. But while others jump on the newbie bandwagon, NAGA arguably got it moving in the first place. And over the past six years has been doing a great job of guiding the direction of travel with its innovations. Novice traders should use the demo account in conjunction with the educational and training resources provided by NAGA.