NAGA is a global fintech company that was established in 2015. NAGA provides a user-friendly Super App with a simple interface to access the global markets and trade forex and CFDs on stocks, commodities and ETFs. You can also use the virtual NAGA card and IBAN account to send and receive money and make payments. NAGA’s core focus is on social trading and offers AutoCopy and NAGA Feed, central hubs for traders and investors to share trading experience and strategies.

Overall Rating

4.7/5

Rated #208 of
Recommended FX Brokers

💰Minimum Deposit

USD 50

🌐 Regulators

CySEC, FCA

📱 Trading Desk

Dealing Desk with DMA and STP

📱Platforms

NAGA Web Trader, MT4, MT5, iSO and Android Apps

Crypto

Yes

📈 Total Pairs

45+

📈 Max. leverage

1:1000

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

NAGA is the NAGA Group AG trademark name, based in Germany and publicly listed on the Frankfurt Stock Exchange (FSE). NAGA supports clients through a proprietary trading platform called NAGA Trader and the MetaTrader 4 and 5 trading platforms. The company provides advanced search functionality and notifications, and publishes comprehensive market analysis and educational material through NAGA Academy.

NAGA is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom and Cyprus Securities and Exchange Commission (CySEC). NAGA is regulatory compliant and regarded as a safe, reliable broker for forex and CFDs traders in Africa.

Is NAGA regulated?

Yes, NAGA is licensed and regulated by authorities under different entities. NAGA is a trademark name for the NAGA Group AG, a German-based company publicly listed on the Frankfurt Stock Exchange (FSE).

Is NAGA regulated in South Africa?

No, NAGA is not regulated by the Financial Sector Conduct Authority (FSCA) in South Africa.

Is NAGA legit?

Yes, NAGA is a legitimate financial services provider. It has been in operation since 2015 and is authorised and regulated by two reputable entities. NAGA is the trademark name for the NAGA Group AG, a German-based company publicly listed on the Frankfurt Stock Exchange (FSE). The majority shareholder of the NAGA Group is Fosun, a Hong Kong-based multi-billion market capitalisation company.

The global broker has one million-plus registered customers worldwide. In 2022, NAGA Group AG reported record-breaking revenue of USD 29 million for the half-year, tripling copy trades and doubling its trading volume.

Does NAGA offer a good trading experience?

In terms of regulatory compliance, security, trading platforms, market analysis and educational resources, NAGA offers an excellent trading experience.

Trading security

NAGA is regulatory compliant and regarded as safe to use by forex and CFDs traders in Africa. NAGA follows strict regulatory guidelines for trader protection and has implemented industry protocol to secure their clients’ money and information.

Regulated broker

NAGA Markets Europe Limited is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom. NAGA Markets Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC). NAGA is the trademark name for NAGA Group AG, a German-based company listed on the Frankfurt Stock Exchange (FSE).

Segregated accounts

NAGA keeps client funds in separate accounts held by leading regulated EU banks. The brokerage cannot access clients’ funds to pay for company expenses or liabilities. The funds are held in ring-fenced accounts separate from NAGA’ financial accounts.

SSL-protected personal area

NAGA uses secured technology to safeguard its clients’ data and deposit and withdrawal transactions. SSL-secured Personal Area is protected with 128-bit encryption, meaning browsing is safe, and data is inaccessible to any third parties.

Two-step authentication

NAGA requires two-step authentication to protect your trading platform, deposits and personal information from hackers using SMS and backup codes. NAGA uses 3D secure technology when processing credit and debit cards, making all Visa and Mastercard transactions transparent and safe.

MiFID

NAGA complies with EU and local regulations such as the European Markets in Financial Instruments Directive II, the Markets in Financial Instruments Regulation and the Cyprus Investment Services and Activities and Regulated Markets Law of 2017.

Investor Compensation Fund

NAGA is a member of the Investor Compensation Fund, established to deal with claims against members of the Fund and to compensate clients for any claims relating to failure to fulfil an obligation that arises from legislation, the client agreement, or from wrongdoing on the part of the member of the Fund.

Advanced trading platforms

NAGA supports the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms and NAGA Web App, a simple, reliable proprietary platform accessible from all browsers and features exclusive trading tools.

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MetaTrader 4

MetaTrader is an electronic trading platform that the developers, MetaQuotes Software, pioneered. The software company has released several versions since it started in 2002. It finally hit the jackpot with a significantly enhanced version called MetaTrader 4 that it took to market in 2005. MetaTrader 4 (MT4) is now the most popular and widely-used online trading platform for speculative forex traders and is offered by most leading brokers worldwide.

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What is MetaTrader 5?

MetaTrader 5 (MT5) was developed by MetaQuotes Software Corporation and launched in June 2010. MT5 is not a new and improved version of MT4. It was created to broaden MetaTrader’s functionality from a single-market trading platform to a multi-market platform, offering traders an advanced trading platform and excellent tools to trade a broader range of financial instruments.

What is NAGA WebTrader?

NAGA Web App is a proprietary, user-friendly trading platform offering advanced features to trade over 950 financial instruments. These include auto copying and setting up price alerts directly in your browser. You can also access NAGA Messenger, NAGA Wallet and NAGA card through the app.

Market analysis and education

NAGA publishes an extensive array of research and market analysis tools through its Feed. NAGA clients can share their trading secrets and strategies, pick up market insights and receive up-to-date information on the global markets. NAGA also offers an Economic Calendar, Earnings Calendar, Trading Central Signals and Market Buzz.

NAGA publishes informative articles, videos, eBooks to improve their clients’ knowledge and expertise in forex and CFDs trading. Educational material is supplied by an expert team under the NAGA Academy. NAGA also uploads videos to its own YouTube channel and regularly hosts in-house webinars.

What products does NAGA offer?

NAGA is a multi-asset forex and CFDs broker. Clients use the MT4, MT5 or NAGA Web App trading platforms to trade currency pairs and CFDs on commodities, stocks, indices, futures, ETFs and cryptocurrencies with competitive spreads and tight margins in normal trading conditions.

Forex Trade major, minor and exotic currency pairs inc. EUR/USD, EUR/GBP, GBP/USD
Commodities Trade popular commodities like Silver, Gold, Crude Oil
Stocks Trade popular stocks inc. Facebook, Google, Amazon, Apple, Tesla
Indices Trade popular indices inc. USA100, UK100, DAX, S&P 500
Futures Trade popular Futures inc. NASDAQ100, FTSE 100, DOW 30, NIKKEI 225
ETFs Trade popular ETFs inc. Powershares, Vanguard TSM, Nasdaq Biotech, SPDR DJIA
Cryptocurrencies Trade popular cryptocurrencies inc. Bitcoin, Ethereum, Ripple, Litecoin

Does NAGA offer copy trading?

Yes, NAGA offers a proprietary forex copy trading platform called NAGA Autocopy and the global Autocopy platform. These copy trading platforms allow NAGA clients to fully automate trading positions and copy the trades of expert traders called strategy providers. NAGA clients can also use Trading Signals, add-on software for copy trading available on the MetaTrader 4 (MT4) and MetaTrader (MT5) trading platforms.

Does NAGA have Nasdaq?

Yes, NAGA offers NASDAQ-100 (US100). US100 is traded as a futures CFDs on the MetaTrader and NAGA trading platforms. The US-100 is a market capitalisation-weighted index containing 100 of the largest, most liquid publicly-traded non-financial businesses on the Nasdaq composite index. The US100 is one of the most significant large-cap growth indexes globally and an essential barometer for the US economy in general.

How to trade forex with NAGA

Forex traders cannot directly access the global financial markets. You can only trade these instruments through a trading platform hosted by a regulated forex and CFDs broker.

To start trading the financial markets with NAGA, register with the broker and follow the easy steps to verify your identity and set up a trading account. Deposit funds when your live trading account has been approved and start trading, or you can practice on a free demo account with access to $10 000 worth of ‘fake’ money.

How to open a live NAGA trading account

  1. Open the official website for NAGA
  2. Click on Sign Up
  3. Fill in the required fields to supply personal information
  4. Select a memorable and secure password to protect your account
  5. Read and accept the terms and conditions
  6. Provide documents to verify your identity
  7. Submit your application
  8. Access your dashboard
  9. Practice using the free demo account or make a deposit to trade live with real funds

Note

NAGA does not accept clients from these countries:

What trading accounts does NAGA offer?

NAGA offers six types of accounts: Iron, Bronze, Silver, Gold, Diamond and Crystal. The fintech company also provides a free demo account and an Islamic swap-free account.

Iron account

Minimum deposit

Spread from

Commission on stock CFDs

Withdrawal fees

$250

1.7

0.20%

$5

Bronze account

Minimum deposit

Spread

Commission on stock CFDs

Withdrawal fees

$2 500

1.7

0.20%

$4

Silver account

Minimum deposit

Spread

Commission on stock CFDs

Withdrawal fees

$5 000

1.7

0.20%

$3

Gold account

Minimum deposit

Spread

Commission on stock CFDs

Withdrawal fees

$25 000

1.2

0.10%

$2

Diamond account

Minimum deposit

Spread

Commission on stock CFDs

Withdrawal fees

$50 000

0.9

0.10%

$1

Iron account

Minimum deposit

Spread

Commission on stock CFDs

Withdrawal fees

$100 000

0.7

0.10%

$0

Does NAGA offer a free demo account?

Yes, NAGA offers a free demo account on the MT4 trading platform with $10 000 virtual money access. NAGA clients can register and sign up for a free demo account. It is instantly available to start trading virtual (fake) money, and no minimum deposit is required. You can trade forex in real-time under actual market conditions with zero risk of losing real money. Once beginner traders learn how to trade on a free demo account, they are ready to open a live trading account.

Does NAGA offer an Islamic account?

Yes, NAGA Islamic Account offers an Islamic swap-free account for Muslim faith traders. No rollover or swap interest is charged on open positions held overnight; only an administration fee is charged on open positions. The NAGA Islamic trading account for clients of the Muslim faith to participate in online forex trading while conforming to Sharia Law.

NAGA deposit and withdrawals

How to deposit money into a NAGA account

Funds can be deposited into a NAGA trading account in different ways; via credit and debit cards, bank wire transfer and eWallet payment systems such as PayPal, Neteller and Skrill.

  1. Login in to your NAGA account
  2. Choose your country from the dropdown menu and the relevant deposit method
  3. Deposit money into the account

How to withdraw money from your NAGA account

Profits can only be withdrawn from a NAGA account using the same method used for depositing funds.

  1. Click on the Deposits/Withdrawals button on the Home page or click on your profile picture and choose the Money Management tab from the dropdown menu
  2. Select Withdraw tab
  3. Choose one of the available withdrawals methods

How long do NAGA withdrawals take?

NAGA processes withdrawals within 24 working hours. The time it takes for funds to show in your bank account depends on the financial institution you use and the method used to withdraw from your NAGA trading account.

What are NAGA fees for deposits and withdrawals?

The size of the fee for NAGA withdrawals depends on your type of account:

Iron account 5 EUR/USD/GBP or equivalent
Bronze account 4 EUR/USD/GBP or equivalent
Silver account 3 EUR/USD/GBP or equivalent
Gold account 2 EUR/USD/GBP or equivalent
Diamond account 1 EUR/USD/GBP or equivalent
Crystal Zero; free withdrawals

FAQs: NAGA

Does NAGA have a Welcome Bonus?

No, NAGA does not offer a Welcome Bonus. The company does offer a cash bonus of $25 for inviting a friend. The cash bonus is paid into your account once they sign up for a live account, deposit $250 in fiat currency, and make at least one trade.

Can I start trading with no money in my live NAGA account?

No, you are required to make an initial deposit to open and start trading a live NAGA Account.

Does NAGA have a mobile app for forex trading?

Yes, NAGA offers an easy-to-use mobile app available on AppStore and Google Play. The NAGA app allows you to check your transactions and balance, trade forex and CFDs, copy trades and manage your account from your Smartphone.

Where is NAGA based?

NAGA is based in Limassol, Cyprus. NAGA Group AG is based in Hamburg, Germany.

Who is the CEO of NAGA?

The co-Founder and CEO of NAGA is Benjamin Bilski.

Is NAGA available for forex traders in Africa?

Yes, NAGA is available to forex and CFDs traders in Africa.

Does NAGA offer online support?

Yes, NAGA offers 24/5 dedicated Customer Support in multiple languages, available from Monday to Friday 09h00 to 24h00 EEST. You can contact a NAGA representative via Live Chat, phone or email.

Website

NAGA

Global Support (English)

+44 20 3966 4543

+44 20 3824 1969

Local Number

+420 228 885 949

General enquiries

[email protected]

FOREX TRADING AFRICA DISCLAIMER

Forex and CFDs are complex instruments and are associated with a high risk of losing money rapidly due to leverage and margin. You need to understand how forex trading works and decide whether you can afford to take the risk of losing money on trade orders that do not go your way.

Forex Trading Africa annually reviews brokers and financial assets and provides information to help online retail traders better understand the global financial markets. The information provided is meant to grow your knowledge and expertise in financial trading and must not be construed as personal advice.

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